A team of Coinbase alumni has raised $11 million to debut True Markets, a stablecoin-native DeFi app offering real-time execution and self-custody on Solana. True Markets, a new mobile-focused non-custodial startup founded by former Coinbase executives Vishal Gupta and Patrick…

Coinbase veterans secure $11m to launch stablecoin-native DeFi app on Solana

Hacken analysts say many crypto firms fail to meet even the baseline of the 
cryptocurrency security standard, leaving billions exposed to insider threats 
and credential leaks. In crypto, one quiet smart contract update can undo 
months of security work. And…

Crypto’s obsession with on-chain security lets off-chain mistakes cost billions, analysts warn

Russia&#8217;s move to classify digital currencies as property for seizure could 
enhance legal frameworks but may also stifle crypto innovation.
The post Russia drafts bill to treat Bitcoin, digital currencies as property 
for seizure appeared first on Crypto Briefing.

Russia drafts bill to treat Bitcoin, digital currencies as property for seizure

Asset manager VanEck is launching a long-term digital assets fund focused on 
Avalanche to back real businesses over hype-driven tokens. VanEck said Tuesday 
it will launch the PurposeBuilt Fund in June to invest in tokenized businesses 
building on Avalanche (AVAX)…

VanEck’s new fund targets real-world utility in Avalanche ecosystem

Cardano, and specifically its founder Charles Hoskinson, has come under fire 
recently after allegations of fraud surfaced online. The rumors quickly spread 
as the integrity of the blockchain and its founder were called into question. 
As a result, Hopkinson has delivered a response, with a shocking revelation on 
how he plans to interact with the public and the community going forward. 
Alleged $619 Million Going Missing On May 7, 2025, an X user who goes by the 
name Masato Alexander made a shocking claim: 318 million ADA worth $619 
million had been illegally moved and the finger was being pointed at Cardano 
founder Charles Hoskinson. Apparently, this had happened with the Allegra Hard 
Fork which took place back in 2021 as core functions of the blockchain were 
changed. Related Reading: Bitcoin Macro Trend Oscillator Shows When To Expect 
The Price Top Alexander claimed that Hoskinson had deployed code during what 
was thought to be routine upgrade with an extra payload. Allegedly, this 
allowed Hoskinson to erase the original ICO UTxOs which held a total of 318 
million ADA and moved the funds to Cardano reserves that were controlled by 
private keys tied to Hoskinson. The transaction was done through an MIR 
transaction, which stands for Move Instantaneous Reward transactions. 
Essentially, Alexander claims that this allowed funds to be moved from 
reserves and then used for treasury and staking rewards purposes. These claims 
quickly drew the attention of the Cardano community, with Hoskinson himself 
responding under the post to denounce the rumors. He initially explained that 
the ADA vouchers of the users whose ADA were allegedly moved had become 
unspendable after the hard fork. Thus, they had been moved into a “custodial 
account controlled by the TGE that then continued redemption for 3 more years 
to distribute the genesis funds to the original buyers.” Furthermore, 
Hoskinson threatened legal action if Alexander did not stop making these 
claims. Cardano Founder Addresses Rumors Again After the initial interaction, 
Cardano founder Charles Hoskinson has once again come out to address the 
rumors of the missing $619 million. He first addressed the fact that people 
were quick to condemn him after the rumors surfaced without giving him the 
benefit of the doubt. This extended to friends who he says did not show up for 
him during this time. Related Reading: Pundit Says XRP Price Will Stabilize At 
$1,000 And Become ‘Very Expensive’ As for the rumors themselves, the founder 
explained that there will be a full audit and a report which will be published 
for the public to see. He further went on to reveal that the events of the 
past few weeks will change how he engages with the community from now. While 
Hoskinson does plan to continue to attend events and take pictures with 
people, he plans to hand over his X account to a media company. Additionally, 
he plans to change the format of how he holds his X Spaces and Ask Me Anything 
(AMAs). “Infinite accessibility just enables it to happen again and again,” 
the founder explained. Featured image from Dall.E, chart from TradingView.com

Did Cardano Founder Steal $619 Million? Hopkinson Makes Shocking Revelation

Aave is gaining ground in the decentralized finance space, with its token 
climbing past $260 as adoption and market performance continue to strengthen. 
In an X post published on May 20, Aave (AAVE) said it now holds 20% of the…