The way to understand the ZCash bug is it’s not infinite mint of ZEC itself. It’s more like the shielded pool (Orchard) could become insolvent. Think of it more like the KelpDAO hack for ETH.
Very little reason not to proactively unshield any ZEC today. Being early to the exit is always better in a bank run. Consider Orchard burned, and don’t re-shield until there’s a new pool with a clean history
🔮 A critical counterfeiting vulnerability in the Orchard pool allowed unlimited undetectable counterfeit ZEC via under-constrained elliptic curve multiplication.
🔮 Discovered May 29 after targeted AI-assisted review and disclosed immediately, enabling ecosystem-wide fix by June 2.
🔮 Orchard privacy prevents cryptographic proof of prior exploitation, but years of scrutiny and deliberate discovery make it unlikely.
🔮 A proposed network upgrade with new shielded pool and turnstile accounting will let anyone verify Zcash supply integrity.
🔮 Security efforts are accelerating with AI tools, formal verification of the Orchard circuit, and new hires.
After the @KelpDAO hack, many projects decided to migrate their cross-chain infrastructure from @LayerZero_Core to @chainlink's CCIP, hoping to improve security for their users.
We decided to study if this is indeed a significant upgrade 👇
to elaborate, the algo for max growth is basically:
1- wake up
2- sort issues by impact
3- execute the biggest one
4- repeat as much as possible
problem is, max impact usually = max pain for one simple reason: if it weren't painful, it'd have been arbitraged away already.
Binance, the largest digital asset platform serving over 300 million users, has launched US stocks and ETFs trading, advancing their vision to become a multi-asset financial super app.
This product expansion, powered by Alpaca’s Broker API, enables @binance users to:
✅ Invest in over 7,000 US-listed stocks and ETFs for as little as $5
✅ Trade nearly around-the-clock for select equities
✅ Access global traditional markets via a familiar crypto-native interface
✅ Build diversified, long-term strategies without navigating separate traditional brokerage platforms
Binance generally doesn't do pre-reveals, but if the rumors are true, this one is warranted.
Crypto has had 24/7 perps on equities for a little while now, but if Binance launches spot stocks, it will change the entire brokerage landscape.
What will happen:
- 24/7 price discovery on spot will finally unlock.
- The new generation of crypto native brokerages will follow Binance for weekend price discovery (the existing perps work as well but the symbol universe is still too limited for a retail brokerage product).
- Crypto native broker dealers will go toe to toe with the old school TradFi brokerages. Being the first to offer weekend spot trading will give them huge edge.
- An entirely new web 2 stock retail consumer base will come into crypto through these new brokerages, i.e. all of the CEXs that have broker dealers.
- Those flows will then come into crypto and DeFi more broadly.
TLDR: It's a great time to be a stock broker.
One caveat: whenever you see stock products, look at the legal. Not all stock products are made the same. In particular, pay attention to what courts actually have jurisdiction to protect your shares.
Very much looking forward to what Binance does.
A rising tides lifts all boats.
Activity on Sui mainnet has resumed, and transactions are flowing normally.
Both today’s and yesterday’s halts are due to the interaction of the 1.72 release, which introduced Address Balances, and gas charging logic. Yesterday’s implemented fix was an interim measure designed to restore functionality to the network while the Sui Core Team worked on a long-term solution.
The interim fix had a known issue with a low probability of causing a halt. This morning, the network hit a variant of the known issue and halted.
As of now, the long-term solution has been implemented by validators, fully addressing known issues caused by the original bug, and network activity has resumed.
A more detailed incident review is forthcoming. Thank you for your patience.
Introducing Tama, a dev toolchain for secure-by-construction EVM smart contracts
Tama enables you to build provably secure apps in 3 steps:
1. Code: write the contract itself
2. Spec: define what correct behavior looks like
3. Prove: prove the code matches the specs
Introducing the Transparency Alliance.
An industry-led alliance establishing the Token Transparency Framework as the standard for token market disclosures.
PSA: I now consider *all* of DeFi unsafe.
Coding agents are superhuman at finding vulnerabilities, and smart contract security is too asymmetric: defenders need to fix every bug while attackers need just one exploit to steal funds.
The flight to safety continues 🕊️
Kraken is officially deprecating @LayerZero_Core and migrating to @Chainlink CCIP as the exclusive cross-chain infra for all Kraken Wrapped Assets 🤝
After a security review, @krakenfx chose CCIP as it offers enterprise-grade infra with strict security & risk management
The migration starts with migrating $260,000,000 in Kraken Wrapped Bitcoin (kBTC) away from LayerZero/OFT and over to the CCIP/CTT standard
Kraken is one of the oldest and largest U.S. crypto exchanges, founded in 2011, trusted by 10M+ users with $665B in annual trading volume