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Job losses might be likely due to AI but Nvidia’s CEO says the booming billion-dollar industry will always need more plumbers and electricians

by admin October 2, 2025

The explosion of generative AI over the last few years signals a change in the job market alongside it, and this brings with it worries of job instability and losses. With big players like Nvidia, Meta, X, and the governments worldwide further committing to AI, questions are posed to those at the very top.

In a recent interview with the British news channel, Channel 4, Nvidia’s CEO Jensun Huang, gave his thoughts on what’s next. He says, “If you’re an electrician, if you’re a plumber, if you’re a carpenter, we’re going to need hundreds of thousands of them. To build all of these factories.”

Huang argues, “The skilled craft segment of every economy is going to boom”.

“You’re going to have to build. You’re going to keep doubling and doubling… every single year.”

Just last week, Nvidia shared plans to spend $100 billion on OpenAI. This cash is intended to go towards greater supplies of data centre chips, to further train upcoming AI models. Just weeks before that, Nvidia’s earnings report showed it made almost 10 times more from AI than gaming. Nvidia’s stock price is also at an all-time high, over 10 times what it was half a decade ago.

@c4news

CEO of US chip giant Nvidia, Jensen Huang, tells Channel 4 News, that ‘electricians and plumbers’ will be the big winners in the AI race as the skilled craft segment of every economy is going to see a ‘boom’. #Tech #AI #Nvidia #Economy #C4News

♬ original sound – Channel 4 News

OpenAI’s spending has also skyrocketed, alongside ChatGPT’s popularity, and the US government is firmly behind cementing “US dominance in artificial intelligence”. From a PC gaming perspective, we’ve even seen brands like Razer jump on the AI bandwagon. This is all to say AI doesn’t appear to be going away, and it has backing in the hundreds of billions.

(Image credit: Nvidia)

When asked what could happen if the UK doesn’t ‘grasp this opportunity’, Huang says, “just as the last industrial revolution, the reason why it came about was because you needed it. And so the industrial revolution that started here in the UK came out of need. You need it now, too.”

Earlier this year, the UK’s Department for Science, Innovation and Technology signed an agreement with OpenAI to push the chatbot into the public sector in a further bid to make the UK an AI powerhouse.

Though highlighting future employment seems relevant to current fears around the job market, this doesn’t address those who have degrees and experience in fields being replaced. Senator Bernie Sanders argued in June that “Artificial intelligence is going to displace millions and millions of workers”. A month after this, OpenAI’s Sam Altman shared that he thinks some jobs will be “totally, totally gone” due to AI. A former Google executive in August argued AI will lead to a “short-term dystopia” because it will struggle to create new jobs for those it is replacing.

Huang tells reporters, “You’re going to be building out AI infrastructure here in the UK for a decade,” but it’s not clear what the plan is for workers after that.

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October 2, 2025 0 comments

Crypto Trends

Avalanche (AVAX) Extends Weekly Losses to 18% as Institutional Backing Fails to Lift Market

by admin September 26, 2025

Avalanche’s native token AVAX fell 8% over the past 24 hours to $27.72, extending a weeklong slide that erased nearly 18% of its value. The drop occurred alongside a broad plunge in crypto markets that’s seen ETH, SOL, DOGE also post double-digit percentage declines over the past week and BTC fall 6%.

AVAX has struggled to break above a resistance level of $30.28 and found only weak support near $27.65. CoinDesk Analytics data shows trading volume sank to 121,896 tokens in early trading Friday, signaling that institutional selling may be slowing but has not yet reversed.

The price slump comes in the wake of Avalanche-aligned corporate initiatives aimed at deepening institutional engagement. Earlier this week, tech company AgriFORCE Growing Systems rebranded as AVAX One and announce plans to raise $550 million to acquire and hold AVAX. The move would make it the first Nasdaq-listed company to focus exclusively on Avalanche’s ecosystem.

The firm assembled a high-profile advisory team led by SkyBridge Capital founder Anthony Scaramucci and Coinbase Institutional’s Brett Tejpaul, positioning itself as a major AVAX custodian. AVAX One aims to hold more than $700 million in the token, a bid to cement its role as a central figure in Avalanche’s growth story.

But for now, the market hasn’t bought in.

The falling price suggests that institutional backers may still be cautious about Avalanche’s long-term positioning. While regulatory approvals for token-related vehicles are pending, they have yet to translate into buying momentum.

Avalanche’s roadmap includes partnerships and enterprise use cases, but these fundamentals have yet to counterbalance the current selling pressure.

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September 26, 2025 0 comments

Crypto Trends

Story Protocol (IP) price down 50% after hitting ATH, will the losses continue?

by admin September 26, 2025

IP price has dropped 48% over the past 5 days as investors booked profits after it hit a new all-time high over the weekend. A confirmed bearish pattern now points to more losses in the coming days.

Summary

IP price has dropped over 50% from its ATH hit earlier this month.
Profit-taking and the broader market downturn have muted the impact of recent project-related developments.
$5.4 stands as a key support level bulls must defend to stop further losses.

According to data from crypto.news, Story Protocol (IP) was trading at $7.59, down 24.5% over the past 24 hours and 48% below its new all-time high of $14.78 reached earlier on Sep. 21.

Notably, Story’s price rallied to its new record high amid renewed community discussion after the project announced it would host the Origin Summit, held on Sep. 23, 2025, in Seoul during Korea Blockchain Week.

The summit, which served as a landmark event at the intersection of AI, intellectual property, and blockchain, brought together speakers and executives from leading entertainment and IP companies such as HYBE and SM Entertainment, alongside major crypto and investment firms, including Polygon, Grayscale, and Animoca Brands, to discuss the tokenization goals of IP through Story’s infrastructure.

Hosting major events like this helps improve a project’s visibility and often draws investor attention, which can translate into stronger support and long-term interest.

Other major developments that supported the rally include the launch of the IP Vault, which helps secure IP data by storing it on-chain, and real-world adoption through high-profile IP partnerships.

Aria, an IP tokenization project built on Story, recently announced plans to tokenize $100 million worth of K-pop IP on the Story blockchain, a move widely seen by the community as a high-profile endorsement of the platform’s real-world potential. With landmark IPs like Pinkfong’s “Baby Shark” also joining the platform, investors likely see this as a sign that Story Protocol is actively powering the tokenization of some of the most recognizable content in global entertainment.

Although these developments helped fuel the rally, their impact was undercut as investors began booking profits. It is quite typical for cryptocurrencies to experience some pullback after strong rallies, especially after an asset hits a new all-time high, as is the case for IP.

Some of the selling pressure also stemmed from the broader crypto market downturn, which followed a fresh wave of tariffs announced by U.S. President Donald Trump and growing uncertainty over whether the Federal Reserve will move ahead with additional rate cuts this year.

Bitcoin (BTC) and many other top altcoins recorded losses on the day, and the crypto fear and greed index fell deep into ‘fear’ territory.

Crypto traders are now awaiting cues from today’s PCE data release, the Fed’s preferred measure of inflation, which could offer clarity on the central bank’s next move.

On the daily chart, IP price has dropped below the lower trendline of an ascending broadening wedge that has been forming since late August this year. In technical analysis, this bearish reversal pattern develops during an uptrend when an asset’s price records successive higher highs and higher lows within two diverging upward-sloping lines.

IP price has broken below an ascending broadening wedge on the daily chart — Sep. 26 | Source: crypto.news

Following the bearish breakout, Story’s price has dropped below the 50-day simple moving average as sellers began to dominate price action.

Momentum indicators like the MACD were also flashing bearish signals today, with the MACD line crossing below the signal line, which is another telling sign that sellers are currently the dominant force.

Based on these bearish signs, IP remains vulnerable to downside action in the upcoming sessions unless the border market sentiment improves or a major bullish catalyst emerges.

As of press time, the next key support level for IP lies at $5.4, 29% below the current level. If bulls fail to defend this support, it could lead to a deeper correction towards $2.4, which marks the token’s lowest point in June.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

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September 26, 2025 0 comments

NFT Gaming

Why is crypto going down? MYX Finance, Worldcoin, Pepe lead losses

by admin September 19, 2025

The crypto market is going down today, Sept. 19, with popular tokens like MYX Finance, Worldcoin, and Pepe among the top laggards.

Summary

The crypto market is crashing as profit-taking continues.
MYX Finance, Worldcoin, and Pepe were among the top laggards.
The drop is also happening after the Federal Reserve cut.

Bitcoin (BTC) price dropped to $116,000, while other large names like Dogecoin (DOGE) and Ethereum (ETH) fell by over 3% in the last 24 hours.

MYX Finance (MYX) price dropped to $11.77, down by over 35% from its highest point this week. Sam Altman’s Worldcoin (WLD) plunged to $1.5170, down by 31% from the YTD high, while Pepe (PEPE) is down by over 15% from this week’s high.

Crypto going down amid profit-taking

One of the main reasons the crypto market is going down is profit-taking among investors following days of strong gains. Indeed, a look at some of the top laggards shows they were the biggest gainers during the week.

Pepe Coin was up by 40% from its lowest level this month, while MYX Finance jumped by almost 2,000%. Worldcoin jumped by 167% from its lowest point this month after Eightco launched a WLD treasury and named Dan Ives as a director.

It is common for the stock and crypto markets to take a breather after a big rally. This scenario has been more pronounced in the crypto industry recently, with any rally finding substantial resistance.

Selling the news after the Fed interest rate cut

The other main reason crypto is going down is that investors are selling the news after the Federal Reserve’s interest rate cut. In a statement on Wednesday, the FOMC slashed rates by 25 basis points and hinted at more cuts at its next meeting.

A Federal Reserve cut is typically bullish for Bitcoin and other cryptocurrencies. However, this cut was priced in by market participants, with Polymarket odds of a cut above 90% before the meeting.

Bitcoin price rising wedge pattern

BTC price chart | Source: crypto.news

Additionally, crypto traders are likely concerned that the Bitcoin price has formed a rising wedge and a bearish divergence pattern. A rising wedge is composed of two ascending and converging trendlines, and a bearish breakout happens when the two lines are about to converge.

The Relative Strength Index has formed a descending channel, a sign of bearish divergence. These two patterns point to a Bitcoin crash, which may impact other altcoins.

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September 19, 2025 0 comments

GameFi Guides

DeFi TVL Rebounds to $170B, Erasing Terra-Era Bear Market Losses

by admin September 18, 2025

The total amount of capital locked on decentralized finance (DeFi) protocols hit $170 billion on Thursday, a landmark figure as now all of the the losses from the 2022 Terra/LUNA ecosystem collapse and subsequent bear market have been erased.

While Ethereum still commands the lion’s share of capital at 59%, newcomers including Coinbase-backed layer 2 network Base, HyperLiquid’s layer 1 blockchain and Sui have begun to chip away at Ethereum’s dominance, collectively amassing more than $10 billion worth of total value locked (TVL), representing around 6%.

DeFi TVL by chain (DefiLlama)

Investor trends have shifted in this recent cycle; institutional adoption of ether has led to outflows from traditional liquid staking products like Lido into institutional staking products like Figment, while there has also been growth in Solana and BNB Chain due to a seismic rise in memecoin activity.

Solana is now the second largest blockchain in terms of DeFi with $14.4 billion in TVL with BNB chain behind that with $8.2 billion.

A maturing sector

The previous bull market between January 2021 and April 2022 saw rapid growth across the DeFi ecosystem, with TVL jumping from $16 billion to $202 billion. This cycle has been more measured with a slow but steady gain from $42 billion in October 2022 to $170 billion in September 2025.

The rise suggests crypto investors might be learning from their mistakes of 2022 and have created a more mature ecosytem to lend, borrow and generate yield.

DeFi TVL since 2017 (DefiLlama)

The Terra implosion saw $100 billion worth of TVL wiped off almost overnight as investors, including bankrupt crypto hedge fund Three Arrows Capital, took a gung ho approach on an algorithmic stablecoin that ultimately failed — leading to contagion and bad debt spreading across the entire industry.

Terra was the crypto-form of a classic “dividend trap,” a product that offered yields that were too good to be true but ultimately turned out to be unsustainable.

Now, yields have receded with lending protocol Aave offering a 5.2% yield on stablecoins while restaking protocol Ether.fi is offering 11.1%, far less than the 20% Terra was offering on its stablecoin.

What next for DeFi?

With the DeFi sector now being back where it was before the Terra debacle, albeit with more sustainable yields, critics will ask how can the market continue to grow to topple 2021’s record high in terms of TVL.

The answer to that is nuanced. While it’s true that institutional adoption and inflows to assets like ether and solana will continue to drive a bullish narrative, the industry is still battling with rampant hacks, scams and rug pulls connected to memecoins.

Crypto investors lost $2.5 billion to hacks and scams in the first half of 2025 and in order for the industry to truly become a viable alternative to traditional finance, investors need to be protected.

Unlike traditional finance where deposits are often insured and protected, the very essence of cryptocurrencies means that you are on your own; if you lose your keys, get phished or hacked, there is no helpline to call.

The next iteration of DeFi, whether that is in this cycle or the next, will need to focus on security and hack prevention — because the industry is still one major implosion away from another crypto winter.

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September 18, 2025 0 comments

GameFi Guides

Shiba Inu Recovery Tricks Eye: Yearly Losses Still Dominate

by admin September 8, 2025

Shiba Inu is posting a positive performance on a daily and weekly basis as optimism rose across the markets ahead of key inflation releases later this week.

The PPI release on Wednesday, as well as core inflation data (CPI) coming out on Thursday, is shaping market sentiment as investors bet on a potential rate cut at the upcoming September meeting, scheduled from the 16th to the 17th of this month.

Shiba Inu is up 3.7% in the last 24 hours to $0.00001286 and up 5.6% weekly, according to CoinGecko data. Shiba Inu saw a significant surge on Monday, rising from $0.00001239 to $0.0000129 and posting a large green candlestick.

SHIB down 39% yearly

According to the 12-month chart, Shiba Inu is down 39.28%. The performance remains surprising given that Shiba Inu has closed three out of four years since its inception in green.

SHIB/USD 12 Month Chart, Courtesy: TradingView

Save for 2022, when Shiba Inu closed the year down 75.79%, Shiba Inu marked positive closes in 2021, 2023 and 2024.

Crypto Phishing Attacks Surge In August As Losses Hit $12.17M

by admin September 7, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Prominent web3 security outfit Scam Sniffer reports that crypto investors suffered an increased number of phishing scams in August. Notably, total assets lost to these scams during the last month represent an estimated 72% increase from July, representing a concerning development for the general crypto industry.

Crypto Whales Take Biggest Hit From Phishing Attacks

In an X post on September 6, Scam Sniffer provides an August 2025 security report covering phishing attacks on crypto wallets. The blockchain security firm notes that 15,230 victims lost a combined $12.17 million from all forms of phishing-related attacks. This data indicates a 72% increase in stolen funds and a 67% rise in victims compared to July’s $7.09 million in losses and 9,143 victims.

For context, phishing often involves fake websites, malicious smart contracts, or deceptive wallet prompts that trick users into giving hackers access to their digital assets. Once approved or shared, the funds are usually stolen instantly and cannot be reversed.

While phishing attacks often target retail investors, August’s data from Scam Sniffer highlights the disproportionate impact on crypto “whales.” ScamSniffer revealed that the top three single incidents drained $3.08 million, $1.54 million, and $1.00 million, respectively, totaling $5.62 million. Collectively, these cases made up 46% of overall monthly losses, demonstrating how hackers increasingly focus on high-value wallets.

Source: @realScamSniffer on X

The August report also draws attention to a new wave of batch-signature scams enabled by Ethereum’s EIP-7702 upgrade. EIP-7702 temporarily allows externally owned addresses (EOAs) to function like smart contract wallets.

This means users can access smart contract–level features without migrating to a new address. With EIP-7702, actions such as batching multiple transactions, setting automated spending caps, or integrating passkeys become seamless for everyday Ethereum interactions.

However, malicious actors have now exploited this mechanism to trick users into authorizing malicious bulk transactions, often bundled with legitimate requests. In parallel, attackers continue to exploit direct transfer scams, luring victims into sending funds straight into phishing contracts.

These vectors are harder to detect than traditional phishing attempts, as they appear embedded within standard DeFi and NFT interactions.

Crypto Market Overview

At press time, the total crypto market cap is presently valued at $3.77 trillion following a 0.16% gain in the past day. According to data from Chainalysis, over $2.17 billion was stolen from cryptocurrency wallets in the 2025 H1, which was higher than the total losses from 2024. This heightened figure, as well as the increased phishing losses in August, all reinforce the broader need for blockchain security, striking a balance between utility and protection against malicious actors.

Total crypto market cap valued at $3.77 trillion on the daily chart | Source: TOTAL chart on Tradingview.com

Featured image from Forbes, chart from Tradingview

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

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September 7, 2025 0 comments

NFT Gaming

Trump-linked WLFI’s 40% decline causes millions in losses for crypto whales

by admin September 5, 2025

Whales, or big cryptocurrency investors, have lost millions of dollars by betting on the price appreciation of the Trump family-linked World Liberty Financial (WLFI) token.

Since its launch on Monday, the WLFI token’s price fell by over 40%, despite a large-scale token burn event that permanently reduced the token’s circulating supply, aiming to tighten supply and boost the value of the remaining tokens on the market.

Despite the over 40% decline, some of the pre-sale holders are still showing confidence in the presidentially endorsed token.

Out of more than 85,000 pre-sale participants, 60% were still holding the token, while only 29% had fully sold, wrote blockchain data platform Bubblemaps, in a Wednesday X post.

Source: Bubblemaps

Whales lose millions on Trump-linked WLFI’s 40% dip, despite 47 million burn

Big crypto investors, or whales, were suffering millions in losses on the Trump family-linked World Liberty Financial (WLFI) token, which continued to decline despite a proposal to reduce the circulating supply.

Whale wallet 0x432 lost more than $1.6 million after closing a 3x leveraged WLFI long position, according to Onchain Lens.

“The moral of the story: never be in FOMO,” short for fear of missing out, wrote the platform in a Thursday X post, referencing the whale’s hasty investment move.

The investor had opened a second long position on the WLFI token just 15 hours after closing a previous one with a $915,000 profit, only to lose the $1.6 million.

Confidence in Trump-linked token weakens

Other whales were also exiting WLFI positions at a loss, signaling waning confidence in the Trump-affiliated token’s price outlook.

Source: Onchain Lens

The whale selling came a day after the WLFI platform burned 47 million tokens on Wednesday, permanently removing them in a bid to tighten supply and boost the value of the remaining tokens.

The token burn was not enough to stop its post-launch decline, as the WLFI price fell another 18% in the 24 hours leading up to 8:31 am UTC Thursday, marking a total decline of 41% since it was launched on Monday, according to CoinMarketCap data.

WLFI/USD, all-time chart. Source: CoinMarketCap

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Avalanche activity driven by DEXs, trading bots, whale memecoin speculation

Smart contract blockchain Avalanche recorded a consistent surge in blockchain activity, as analysts pointed to growing decentralized trading activities and returning crypto whale speculation on the next emerging memecoin.

Avalanche’s transaction growth surpassed all other blockchains the past week, increasing 66% to 11.9 million transactions across more than 181,000 active addresses, signaling growing investor mindshare focusing on the blockchain.

The milestone occurred after a “landmark effort” by the US Department of Commerce, which adopted Avalanche, along with nine other public decentralized blockchains, to publish its real gross domestic product (GDP), Cointelegraph reported on Aug. 29.

Despite Avalanche’s growing institutional and governmental adoption, we “cannot at this point attribute this to the US Government adopting Avalanche for its GDP data,” said Nicolai Sondergaard, research analyst at the Nansen crypto intelligence platform.

The network’s increasing blockchain activity was mainly driven by decentralized finance (DeFi) traders, miner extractable value (MEV) trading bots and whales speculating on the next big memecoin launch, the analyst told Cointelegraph, adding:

“The transaction surge is driven by: 60% DeFi protocol activity (Trader Joe, Aave, Benqi), 25% Automated trading bots and MEV, and 10% Whale trading and memecoin speculation […].”

The research analyst said that the additional 5% of activity was attributed to blockchain gaming and non-fungible tokens (NFTs).

Avalanche, top five entities by blockchain users, 180 days. Source: Nansen

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DeFi lending rises 72% on institutional interest, RWA collateral adoption

Decentralized lending protocols are surging in total value and set to capitalize on the growing institutional adoption of stablecoins and tokenized assets, according to Binance Research.

Decentralized finance (DeFi) lending protocols are automated systems that facilitate lending and borrowing for investors via smart contracts, eliminating the need for financial intermediaries like banks.

DeFi lending protocols have risen more than 72% year-to-date (YTD), from $53 billion at the beginning of 2025 to over $127 billion in cumulative total value locked (TVL) on Wednesday, according to Binance Research.

This explosive growth is attributed to DeFi lending protocols benefiting from accelerated institutional adoption of stablecoins and tokenized real-world assets (RWAs).

“As stablecoin and tokenized asset adoption accelerates, DeFi lending protocols are increasingly positioned to facilitate institutional participation,” wrote Binance Research in a Wednesday report shared exclusively with Cointelegraph.

DeFi lending protocols, TVL, year-to-date chart. Source: Binance Research

A significant portion of this growth was attributed to Maple Finance and Euler, which saw 586% and 1,466% rises, respectively.

“As tokenized assets continue integrating into the mainstream financial system, we expect a new generation of onchain financial products to emerge, enabling more efficient, transparent, and accessible capital markets,” a Binance Research spokesperson told Cointelegraph, adding:

“DeFi lending protocols, in particular, offer a programmable and interoperable framework that makes them well-suited to facilitate greater institutional participation.”

This emerging dynamic is set to enhance DeFi liquidity and the broader crypto ecosystem by “bridging traditional finance and decentralized infrastructure,” added the spokesperson.

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Mantle 2.0 to accelerate DeFi-CeFi convergence: Delphi Digital

Mantle 2.0, which aims to become the institutional “liquidity chain” for tokenized real-world assets, is championing a new business model that may accelerate the mutually beneficial convergence between the industry’s centralized and decentralized participants.

Mantle Network was initially launched as an Ethereum layer-2 (L2) scaling solution in 2021 under BitDAO, as the first L2 network launched by a decentralized autonomous organization (DAO).

In July 2023, BitDAO and Mantle Network consolidated into the Mantle brand and the Mantle (MNT) token.

The project is now entering a “new phase in its lifecycle,” dubbed Mantle 2.0. It is marked by Bybit executives being installed as key advisers and a new roadmap targeting the convergence of centralized finance (CeFi) and decentralized finance (DeFi), according to crypto research firm Delphi Digital’s Wednesday report.

Mantle 2.0 may champion a new business model for the cryptocurrency industry, encouraging more DAO-governed projects to merge with major centralized exchanges, combining the advantages of decentralized governance with the deep liquidity and mainstream user base of centralized trading venues.

On Aug. 18, the Bybit exchange launched multiple exclusive campaigns and earn products for the MNT token.

On Aug. 29, Bybit exchange and Mantle revealed a combined roadmap, which awarded MNT holders lower slippage buys, more payment options within the Bybit ecosystem and other savings and staking products.

Source: Delphi Digital

“Mantle is no longer just an L2 but the foundation of Bybit’s ecosystem. This isn’t a simple partnership but a play for RWA dominance,” wrote Delphi Digital in a Wednesday X post, adding:

“This update shifts the Mantle token into a Bybit utility asset.”

“This anchors MNT’s value to Bybit’s massive daily volume ($3-5B spot, $25B+ derivatives) over simple governance,” wrote the research firm, adding that we are seeing the emergence of a “new competitive landscape that merges TradFi infrastructure with DeFi rails.”

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Venus Protocol recovers user’s $13.5 millon stolen in phishing attack

Decentralized finance (DeFi) lending platform Venus Protocol helped a user recover stolen crypto following a phishing attack tied to North Korea’s Lazarus Group.

On Thursday, Venus Protocol announced that it had helped a user recover $13.5 million in crypto after the phishing incident that occurred on Tuesday. At the time, Venus Protocol paused the platform as a precautionary measure and began investigating.

According to Venus, the pause halted further fund movement, while audits confirmed Venus’ smart contracts and front end were uncompromised.

An emergency governance vote allowed the forced liquidation of the attacker’s wallet, enabling stolen tokens to be seized and sent to a recovery address.

Source: Kuan Sun

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DeFi market overview

According to data from Cointelegraph Markets Pro and TradingView, most of the 100 largest cryptocurrencies by market capitalization ended the week in the green.

The meme token MemeCore (M) rose by over 236% as the week’s biggest winner in the top 100, followed by memecoin launchpad Pump.fun’s (PUMP) token, up over 41% during the past week.

Total value locked in DeFi. Source: DefiLlama

Thanks for reading our summary of this week’s most impactful DeFi developments. Join us next Friday for more stories, insights and education regarding this dynamically advancing space.

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September 5, 2025 0 comments

Crypto Trends

Losses Extend to Nearly 8% for the Week

by admin August 30, 2025

Historical data around Bitcoin Magazine’s annual U.S. Bitcoin Conference has shown a clear pattern of poor price performance for bitcoin during and just after the event. The indicator didn’t disappoint in 2025, with bitcoin BTC$108,073.26 struggling in late May/early June alongside and then following this year’s Las Vegas conference.

The logic behind that price action isn’t that hard to decipher: in the weeks leading up to the show, conference organizers — looking to sell tickets and generate media coverage — overhype the speakers and what are sure to be “massive” announcements.

What follows is the usual cast of influencers, bitcoin OGs and newcomers to the sector (this year the Trumps) extolling “freedom money,” “massive institutional and sovereign adoption,” and “bitcoin to the moon.”

How could the price do anything but dump?

Bitcoin Asia

For those not paying close attention, Bitcoin Magazine’s Bitcoin Asia conference took place this week in Hong Kong.

The featured speakers included Eric Trump, CZ, Adam Back, Balaji Srinivasan and David Bailey. Among the subject matter covered — you guessed it — “freedom money,” “massive institutional and sovereign adoption,” and “bitcoin to the moon.”

The price action: sharply lower.

At around $115,000 as attendees began arriving in Hong Kong earlier this week, bitcoin has tumbled to the current $108,400. This included about a 4% dive overnight in the U.S. (Friday in Hong Kong) as David Bailey and Eric Trump took the stage for a chat titled “Bitcoin Takes Over the World.”

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August 30, 2025 0 comments

Crypto Trends

South Korea Busts Hacking Syndicate After Multi-Million Dollar Crypto Losses

by admin August 29, 2025

In brief

A hacking syndicate allegedly stole $28.1 million (₩39 billion) from financial and crypto accounts of 258 wealthy Koreans, including celebrities and top business executives.
The largest single crypto theft reached $15.4 million (₩21.3 billion), though authorities haven’t specified what portion of the total losses was in crypto.
The case exposes systematic vulnerabilities in Korea’s digital infrastructure as international criminal organizations increasingly target the country’s elite, Decrypt was told.

Seoul police have dismantled an international hacking ring that systematically targeted South Korea’s wealthiest individuals, including BTS member Jungkook and top business executives, after the group stole $28.1 million (₩39 billion) from victims’ financial and crypto accounts.

The Seoul Metropolitan Police Agency’s Cyber Investigation Unit announced the arrest of 16 suspects Thursday, including two Chinese ringleaders who allegedly orchestrated the scheme from bases in China and Thailand between July 2023 and April 2024, according to Korea Joongang Daily.

“This incident highlights a critical reality: international criminal organizations are systematically targeting Korean entities, and most domestic institutions lack adequate defenses against their advanced hacking capabilities,” Rich O., regional manager APAC at hardware wallet manufacturer OneKey, told Decrypt.

According to the police, the criminal organization breached government and financial institution websites to steal personal data from wealthy targets, then used this information to create over 100 fraudulent phone accounts that bypassed security systems and enabled unauthorized access to victims’ bank and crypto wallets.

While they harvested data from 258 high-profile individuals, including 28 crypto investors, 75 business executives, 12 celebrities, and 6 athletes, actual theft attempts were allegedly made against only 26 people, whose combined account balances totaled $39.8 billion (₩55.22 trillion).

Among them, the hackers reportedly stole from 16 victims, with the largest single crypto theft reaching $15.4 million (₩21.3 billion).

Financial institutions blocked an additional $18 million (₩25 billion) in attempted thefts targeting 10 other victims, thereby preventing further losses.

Crypto holders “prime targets”

Crypto holders have become “prime targets”, but remain just one segment of the wealthy individuals hackers pursue, O. said.

He said the case marks “a new level of hacking threat” because of the “systematic hacking of government and financial institutions to profile wealthy individuals.”

In Jungkook’s case, attackers allegedly attempted to drain $6.1 million (₩8.4 billion) in Hybe entertainment stock holdings in January following his military enlistment.

However, banking systems flagged the unusual activity, and his management company intervened, blocking the unauthorized transfers.

Authorities successfully froze and returned $9.2 million (₩12.8 billion) to victims through quick response measures.

The two alleged ringleaders were arrested in Bangkok with Interpol’s help. One of the accused has been extradited to Korea to face 11 charges, including network and economic crimes.

“This incident of bypassing the non-face-to-face authentication system is ‘unprecedented,’ and the vast sums accessed ‘could have easily led to an even bigger crime,’” Oh Gyu-sik, head of the Seoul Metropolitan Police Agency’s 2nd Cyber Investigation Unit, said.

“Given the repeated breaches of Korean government agencies and telecom carriers, a multi-layered defense strategy is essential,” O. said.

He called for “stricter identity verification” for telecom services and “robust international law enforcement coordination” to combat cross-border cybercrime operations since “this involved Chinese criminal organizations.”

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August 29, 2025 0 comments