Compound completes leadership restructuring, approves $52 million budget to transition to institutional DeFi

According to official announcements, Upbit has confirmed that Inicia (INIT) has experienced an unexplained or unresolved security incident such as a hack in its virtual assets, virtual asset wallets controlled by the issuer or operator, or distributed ledgers used for the issuance, transmission, and storage of virtual assets. Given the potential harm to users and to protect investors, Upbit has designated Inicia (INIT) as a "Transaction Attention Project". Deposits and withdrawals for INIT have been suspended. When services resume in the future, only withdrawal services will be restored first; the resumption of deposit services will be announced separately in line with the procedures following the designation as a Transaction Attention Project.

According to on-chain analyst Yu Jin Monitoring, a long-time Ethereum whale has begun transferring its long-held ETH. Over the past two hours, 5,000 ETH were moved out, with 1,500 tokens (valued at approximately $3.45 million) deposited into a centralized exchange (CEX). The whale purchased 100,000 ETH in 2015 at $0.311 per token, totaling around $31,100 in costs. In 2016, it sold 50,000 of these ETH at $5.47 each, generating roughly $273,500 in proceeds and a profit of about $258,000. The remaining 50,000 ETH were held long-term, with transfers only commencing recently.

According to HTX market data, Bitcoin has rebounded above $80,000, currently trading at $80,072.

Elon Musk responded to investor Chamath Palihapitiya on social media, stating that SpaceX has completed approximately $40 billion in debt financing to purchase graphics processing units (GPUs). He also predicted that more than 200 so-called "neoclouds" — new AI cloud service providers — will face widespread failures and consolidation due to tightening credit markets. Palihapitiya noted that neoclouds are disorganized and undercapitalized, while hyperscale cloud vendors suffer from severe bureaucratic decision-making. He warned that construction delays could lead to massive "stranded computing capacity" by 2027, with hardware purchased but generating returns below the cost of capital stuck in unfinished data centers. Musk echoed those remarks, adding that debt markets have "almost completely cut off financing for companies that lack significant revenue streams independent of AI data centers." This means more than 200 neoclouds will face widespread failures and consolidation; a few will survive, but not many. Additionally, Musk made clear that SpaceX will not acquire any neoclouds, calling such moves "pointless."

Cross-chain automated trading tool Bloom Trading has suffered a mass user theft incident, with approximately $954,000 in funds transferred to suspected hacker addresses. Hackers stole 9,408 SOL tokens from 49 victims via one compromised wallet, and the total stolen amount is likely far higher. The single largest individual theft reached 1,636 SOL, equivalent to around $166,000. The platform advises users to immediately disconnect and move their funds to new wallets. In response, Bloom Trading’s official team is currently investigating the issue, confirming other wallets remain secure. Out of an abundance of caution, the platform will temporarily suspend some services and is working to resume operations as soon as possible.

Recently, CZ gave an interview to PIVOT, a leading Japanese business media outlet, where he discussed his voluntary decision to plead guilty in the U.S. and pay a substantial fine. He stressed that he refused to be a fugitive or evade accountability. Binance only faced registration-related violations, with no fraud involved and no victims harmed, and users were consistently well protected. Serving a prison sentence was an unpleasant experience and a valuable lesson. CZ also noted that Bank of America (BoA) committed more serious violations recently but only received a $1.2 billion fine and no criminal prosecution. "The world is inherently unfair, but I’m no longer fixated on that; I’m focusing on moving forward and doing more positive work by learning from this experience."