News

Yearn Finance suffered an $11 million hack due to a vulnerability in an old yETH contract, allowing an attacker to mint tokens and drain liquidity pools. The YFI token briefly rose before falling as the scope of the breach became clear.

Japan’s 10-year government bond yield has surged to its highest level since 2008, signaling the end of an era of ultra-low rates. This shift in monetary policy could have significant implications for Bitcoin by impacting global liquidity and investor risk appetite.

Bitcoin’s price has dropped over 5% in early December, triggering a rare bearish signal on the monthly MACD indicator. This signal has previously preceded major bear markets, raising concerns, though past performance doesn’t guarantee future results.

In an exclusive interview, OKX’s Roy van Krimpen discusses the fundamental shift in the crypto market, where institutional players are now driving adoption. He explains how clearer European regulations, like MiCA, are giving banks and large corporations the confidence to enter the space, marking a new, more mature phase for digital assets.

Fed Chair Jerome Powell is set to deliver a key speech today, with markets anticipating a rate cut. We discuss the expectations, the impact of the Fed’s new policy, and the potential successor to Powell—developments that could affect the crypto market.

Ethereum’s price has fallen 6% in the past 24 hours, and an expert warns of a potential deeper crash due to a bearish pattern. Analyst Ali Martinez predicts further declines to $2,250, $1,550, or even $1,080.

Dogecoin’s price has dropped 7.5% following disappointing inflows into newly launched DOGE ETFs from Bitwise and Grayscale. The memecoin is also facing broader market headwinds, with the Crypto Fear and Greed Index signaling ‘Extreme Fear’ and key support levels being broken.

The crypto market started December with heavy losses, with Bitcoin dropping over 7%. The downturn is largely attributed to rising interest rates in Japan, which is prompting the unwinding of the yen carry trade, leading to widespread sell-offs in risk assets.

After four consecutive weeks of outflows, crypto investment products returned to form with nearly $1.07 billion in inflows last week, led by Bitcoin and XRP which recorded its strongest week ever.

China’s central bank has reaffirmed its total ban on all cryptocurrency activities, announcing stricter enforcement measures. The news has contributed to a sharp drop in Bitcoin’s price, which fell towards $86,000 amid broader market uncertainty.