$LIT update. We had a vicious $BTC sell off and Lighter broke out of its prior month resistance and is pressing against the yearly VWAP.
While there is still much much higher to go I was quite worried that Bitcoin pulling back this violently would impact $LIT. It didn't.. in fact it caught a bid through a technical resistance area and went up despite Bitcoin dropping.
gLighter 🕯️
1/ An investigation into the opaque private loans/OTC, unilateral vesting changes, market maker coordination, unknown float, and >95% supply control behind $LAB's recent pump to $6B FDV.
Here's why @LABtrade_ represents everything wrong with the current meta of retail extraction on major centralized exchanges.
Claude is now your real estate marketing agency.
Analyze listings from Airbnb, Booking, Zillow or Expedia, then build the assets owners never had. 3D tours, a clean site, photos that sell. Pitch the owner and get paid. Higgsfield MCP is the key.
Then scale to the next owner.
We’re hosting a $125,000 World Cup Challenge on @jup_predict
If you’re a FIFA World Cup 2026 fan, this one’s for you
All you need to do is correctly predict 5 matches
This isn’t one to miss. Here’s how to participate:
Higgsfield just released Supercomputer.
A cloud-native AI agent that unifies every model, tool, and creative workflow into one system.
It can research, write, design, generate video, and ship campaigns end-to-end.
Thanks to @zachxbt, we found the root cause and will be taking the appropriate actions to unblock the situation. Tldr; this has nothing to do with Zama, or privacy.
The issue stems from an address related to the Overnight Finance hack, which deposited over ~$12.5m USDC into our confidential USDC wrapper contract. Back when they did, their address wasn't on any sanctions list and was not flagged by our KYT tools. However, a court order yesterday night placed a restraining order on various wallets linked to the hacker.
Since there wasn't much utility yet for the cUSDC wrapper, there were very little funds in it, and as a result the vast majority (>99%) of funds in the cUSDC contract came from that single hacker's deposit. Because of this, the court order asked to freeze our wrapper contract to freeze the hacker's fund.
So the sanction was not against Zama, or against privacy. It was a classic restraining order as we see often in DeFi, and we should have been notified so we could have taken the appropriate actions on our side.
I want to be very clear about something: our posture has always been compliant confidentiality, and we will not tolerate any illicit behavior in our protocol. It's also really useless for hackers to try to use Zama to hide their trail as we are precisely not a mixer and we do not obfuscate the sender and recipient, only balances and amounts. Eg you can see the hacker's cUSDC transactions here: https://t.co/yFtdaz5ytU
We are in touch with the various people involved to resolve the situation asap. In the meantime, we will pause the cUSDC, cUSDT and cWETH contracts until we have finished our investigation, identified all addresses linked to this case and taken appropriate action.
I will share a more detailed post-mortem and how we plan to deal with such requests in the future.
Why the heck is the entire HL community celebrating the worst news for HL seen in a while?
It just legalize HL's competitors to offer the actual perp in US. ANd what is HL gonna do? Build a KYC-compliant frontend?
Lighter will now support RFQ on BTC, ETH, SOL, XRP, TON, and ZEC pairs.
Meaning if you’re a large trader, you won’t have to worry much about liquidity while taking exits. Lighter will execute your orders with large market makers at very low slippage.
You know why I’m always bullish on Lighter? Because of their team. Literally just a few days ago people started discussing RFQ, and Lighter already delivered it.
That’s it.
Lighter 🕯️