Tag: News

Synthetix governance has approved SIP-423, a proposal to fully decommission and deprecate its native sUSD stablecoin across Ethereum and Optimism networks. Holders will receive four locked SNX tokens for each sUSD based on its $1 face value, compensating users despite the asset’s current market value of $0.25. The transition restructures protocol debt mechanisms by winding down the 420 Jubilee Debt Pool and completely removing the sUSD...

Secret Network’s cross-chain bridge was hit for $4.7 million following an exploit tied to a critical infinite mint smart contract vulnerability. Three high-profile board members of Sonic Labs, including DeFi pioneer Andre Cronje, have resigned amidst a broader governance restructuring. The native S token dropped another 5% on the news, continuing a steep decline that has wiped out roughly 97% of its value from its all-time high. The...

On-chain settlement volume hit $7.5 trillion in March 2026, marking the first month it surpassed the total volume cleared by the traditional United States Automated Clearing House (ACH) network. The aggregate stablecoin supply surged to $323 billion, representing a substantial 56% year-over-year increase from the same period last year. Institutional adoption and cross-border commercial transactions continue to fuel tokenized dollar...