📢 Today’s Top Crypto Headlines:
⚡ Fed Chair Rumors Shake Sentiment
• Social media rumors falsely claimed Fed Chair Jerome Powell resigned during an “emergency meeting”
• No confirmation from the Fed or any credible news source
• Meanwhile, President Trump says he has selected the next Fed Chair, announcement “soon”
• Kevin Hassett leads prediction markets with 45%+ odds
• Fed leadership speculation adds to market uncertainty around future rate cuts
📁 CoinShares Withdraws U.S. Spot ETF Filings
• CoinShares pulled its SEC filings for XRP, SOL, and LTC spot ETFs
• Also ending operations of its leveraged Bitcoin futures ETFs
• CEO Mognetti cites heavy competition from BlackRock, Fidelity, and Grayscale
• Firm will pivot toward:
- Crypto equity products
- Blockchain-themed portfolios
- Active strategies blending crypto with traditional assets
🚨 Yearn Finance Exploit
• $yETH pool exploited, allowing attackers to mint unlimited yETH
• Entire pool drained in a single transaction
• **1,000 ETH ($3M)** already moved through Tornado Cash
• Attack used temporary contracts, some self-destructing
• $yETH pool was ~$11M, exact loss still unclear
• Yearn V2 and V3 vaults unaffected, investigation ongoing
⏳ Terminal Finance Launch Canceled
• Terminal Finance, developed with Ethena, canceled its long-planned DEX launch
• Despite $280M raised in pre-sale, the underlying blockchain Converge has not launched
• No updated launch plans from Ethena or Securitize
• Highlights ongoing risks of project dependencies across the DeFi ecosystem
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