MiCA Transition Ends on July 1: Approximately 75% of EU Crypto Companies May Lose License
The EU’s MiCA transition period will end on July 1, after which crypto exchanges, brokers and wallet service providers without a MiCA license will no longer be able to serve EU users.
As of May 2026, only 194 crypto firms in the EU had obtained a license, compared with more than 3,000 registered crypto firms in 2024. Around 75% of existing firms are expected to lose operating eligibility.
Unlicensed platforms will need to stop new deposits and guide users to withdraw assets or transfer them to licensed firms. Regulators in some countries may also take measures such as website blocking and public warning lists.
We’re sharing our completed post-mortem on the April 18th incident, prepared with @Mandiant and @CrowdStrike. We are publishing both an executive summary and the full report at the link below.
Over the past four weeks, we’ve worked with hundreds of partners to help them understand their current security posture, and harden it where appropriate. We’ll continue this work, alongside taking additional proactive steps for the benefit of not only our partners, but also the ecosystem as a whole.
We want to extend our thanks to our partners for their support and patience this past month. There’s a reason that over $12 billion has moved across the network in the past four weeks, and why the world’s most valuable asset issuers have stood by our side: they believe in us, in what the LayerZero protocol has to offer, and in the value of modular, isolated, application-controlled security.
The work continues. And we look forward to continue showing up for the applications that trust us with their business, as well as the broader ecosystem.
https://t.co/7bILN6dPJz
Why are some protocols targeted and others aren’t?
Uniswap. Curve. Aave. Liquity…
None of them are attractive targets for this kind of attacks, because compromising their signers can’t drain the protocol.
Drift’s multisig could introduce new collateral.
So the 6month plan was to:
Compromise the signers → drain everything.
Multisigs are fine for operational tasks, but they’re not fine when they control collateral introduction or core protocol upgrades.
You can’t train your team to avoid a 6-month intelligence operation with $1M in real deposits and in-person meetings.
But you can architect your protocol so it doesn’t matter if they succeed.
Thanks for the transparency @DriftProtocol and wishing you all the best for the upcoming investigations 🤝
Let’s make DeFi safer together.
- xerberus
@IncomeSharks Can you compare with previous major local bottoms? I have the feeling we can stay in extreme fear for quite some time until we reach the actual bottom
@TrustlessState As a peaceful American, are you taking responsibility for reforming your own extremist government seeking domination? Or are you refusing to take responsibility and leaving the problem to the rest of the world?
@ViktorDefi US unemployment parabolic rise in 2026 with Inflation flat slightly downwards in H1 and heavy decay in H2. Late H1 early H2 recession is declared retroactively to early/mid H1. Risk assets flat / slightly bearish until summer, when they crash to bottom in Q3/4.
1/ 🚀 Today we’re excited to introduce the Livepeer Foundation: a new, neutral entity stewarding the next phase of growth, decentralization, and ecosystem coordination across the Livepeer network.
@balajis@elonmusk Doesn't arbitrarily giving Elon Musk all powers at discretion go against the very core values of a network state, where rules are effective for all and the network is permissionless?
@_RichardTeng That's not a tiger it's a lion, and they should be in the wild, not in houses.
Cared to ask where did it get that nasty wound on the nose? I'd bet it was in the cage where it was transported to that house.
On July 31st 2023, Alchemix's $alETH synthetic was impacted by the now infamous Curve reentrancy vulnerability. Thanks to the help of the wider community we managed to claw back everything the hacker stole, but the hacker left a mess, with over 4000 alETH and ~0 ETH in the Curve pool, making a feast for MEV bots. The aftermath left our team demoralized, with our efforts to restore its price repeatedly stymied by the alETH lost to the MEV bandits. It has been a long recovery process to grind back up, requiring direct market action from our treasury, protocol mechanisms, and focused effort from our BD team. It is now getting close to being near it's price target of 0.99~ ETH, sitting at ~0.97 now.
I thought it was over at times. I struggled with mental health that spilled over into chronic physical pain that I am still dealing with to this day. But thankfully, with the support of my team, my friends, and the @AlchemixFi community, we stuck it out and survived.
Now I am filled with hope and excitement as our team is nearing completion of our upcoming v3 -- a revolutionary and innovative new version that will fundamentally change Alchemix and extend the reach and scope of it, along with introducing new DeFi primitives. It's still got a little more cooking to do and then audits and the like, but the light is at the end of the tunnel. As we get closer to launching it, we will share all the details, and I hope that you, too, will be as excited as I am for it.
Thanks to everyone who has supported me and the team in our darkest hours. We aren't fucking leaving.
Congratulations @benjamincowen for the BTC.D call that you have been consistently following for almost 3 years now. Probably the only analyst out there calling for such an event. It's been a great journey following it along! I wish 60+% won't keep you up... At least tonight.
MKR has been down only since the rebrand announcement, losing 33% of its market price. Normally, this isn’t a huge issue. It’s just crypto being crypto. But Rune is borrowing against his MKR, and is now withdrawing large amounts from governance staking to shore up his positions
@SonneFinance I think I am missing something here. You are asking more money to affected users to get their fair share of the repayment? If a user decides not to buy your "repayment" token, they will not be entitled to any compensation? I think you should go for an extra brainstorming session.