Consensys spins off MetaMask into an independent company, with no IPO or token issuance plans disclosed for now.

Liquid Network has released an emergency update, Elements v23.3.4. Functional nodes are upgrading immediately, and all Liquid node operators are advised to update synchronously. This version fixes a proof verification cache vulnerability, enhances security by strengthening the cache keys used for range proofs, and has undergone multiple rounds of internal and external audits by teams including Bitcoin Red Team and Alpen Labs. Liquid Network also unveiled an initial recovery plan: first, resume block production while keeping peg operations suspended; then re-execute verified valid transactions; after the network is fully restored and funds are returned, resume peg operations. Blockstream is concurrently testing the first two phases, with the specific order and implementation subject to adjustment based on test results. Liquid Network also warns that scammers have taken advantage of the situation to set up fake update websites. Users should only refer to official channels of Liquid Network and Blockstream, and must not transfer funds to unknown parties or disclose private keys or mnemonics.

Data shows that as STONK’s market cap hits a new all-time high of roughly $210 million, FOMO user Point Farm Capital has reclaimed the top spot on the daily leaderboard. The account currently holds around $10.572 million in assets, with an unrealized gain of approximately $2.393 million over the past 24 hours. STONK is the core revenue driver behind its current top ranking: the account’s STONK position is valued at about $8.382 million, accounting for nearly 80% of its total assets, with a cumulative unrealized gain of roughly $7.93 million and a return rate of approximately 1532.6%. The account’s average entry market cap for STONK is around $11.7 million. As STONK continues to climb, Point Farm Capital’s account net worth has also risen rapidly.

According to a U.S. Department of Justice (DOJ) announcement, the DOJ’s Fraud Strike Force and the U.S. Department of the Treasury carried out coordinated law enforcement actions against Xinbi Guarantee, seizing and restricting over $52 million in crypto assets in a single day, bringing the total value of assets the strike force has restricted to roughly $938 million. Tether provided proactive assistance to the investigation. The DOJ alleges Xinbi operates primarily as an illegal fraud service marketplace on Telegram, offering custom investment scam websites and money laundering services to fraud rings, as well as recruiting human trafficking victims to work at scam hubs in Southeast Asia. Law enforcement has seized Xinbi’s Telegram channels and two crypto wallets holding a combined approximately $12 million, while restricting access to an additional 47 related wallets. The U.S. Treasury’s Office of Foreign Assets Control (OFAC) also designated Xinbi as a significant transnational criminal organization and sanctioned two additional entities that supported it. The strike force also assisted Madagascar in shutting down 13 scam hubs run by Chinese criminal groups, seizing over 3,200 electronic devices and leading to nearly 400 arrests in the country.

According to GMGN market data, STONK, the native token of Solana-based token launch platform StonkFun, briefly surged past $210 million in market cap, hitting a new all-time high. It has since pulled back to $203 million, with a 24-hour gain of over 60% and trading volume of $63 million over the same period. BlockBeats reminds users that most meme coins have no practical use cases, are highly volatile, and investors should exercise caution.

Grayscale Research Head Zach Pandl noted that as Bitcoin matures, its price volatility has declined significantly. Bitcoin’s realized annualized volatility stood at roughly 125% in its early years, while averaging just 40% over the past year—near the level of the U.S. "Magnificent Seven" tech stocks. By comparison, Zcash has a market capitalization of only about 1% of Bitcoin’s, with an average price volatility of around 140% over the past year. Based on current volatility calculations, a covered call option strategy for Zcash would yield an implied annualized return of roughly 70% from premium income, versus about 30% for the same strategy applied to Bitcoin. Pandl cautioned that higher potential returns come hand in hand with greater risks: if the spot price falls more than the premium received, the covered call strategy will still result in principal losses. Investors seeking a clear risk-reward profile may consider going long on call or put options.

MetaMask announced in a post that it will now operate as an independent company, entering a new stage of development. Consensys Software Inc., the original entity behind MetaMask, will rebrand itself as MetaMask and shift its full focus to the consumer platform. Protocols and institutional infrastructure businesses—including Linea—will form a new company that will retain the Consensys name. MetaMask stated that this adjustment will not affect existing users: their applications, assets, private keys, and access permissions remain unchanged, and no action is required from users. Going forward, the company will concentrate resources on developing MetaMask, expanding it from a crypto wallet to a platform where users can hold, spend, trade, and grow their funds, a positioning it refers to as "open money".