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DeFi’s High-Stakes Rehypothecation: $284M Turmoil Reveals Deep-Rooted Systemic Weakness

- Stream Finance's collapse exposed $284M in DeFi loans and stablecoin risks via rehypothecated collateral across platforms like Euler and Silo. - Key counterparties include Elixir ($68M), TelosC ($123.6M), and MEV Capital ($25.4M), highlighting systemic fragility in interconnected DeFi markets. - xUSD stablecoin faces liquidity crunches as rehypothecated assets amplify contagion risks across Arbitrum and Plume chains. - Recent exploits at Balancer and Moonwell erased $222M, prompting calls for regulatory

Bitget-RWA·2025/11/04 13:40

DeFi’s Pursuit of High Returns Exposes Fundamental Issues of Trust and Openness

- DeFi sleuths traced $284M in interconnected loans to Stream Finance, destabilized by Balancer v2's vulnerability exploit. - Stream's xUSD stablecoin depegged to $1.15 amid panic, exposing hardcoded oracle flaws and leveraged position risks. - Recursive minting and opaque Proof of Reserve practices amplified contagion risks, eroding user confidence during withdrawals. - The crisis highlights systemic DeFi challenges: balancing high-yield strategies with transparency and robust risk governance frameworks.

Bitget-RWA·2025/11/04 13:40

Solana News Today: "While Zcash Surges, Ghostware Quietly Advances Scalable Solutions on Solana"

- Privacy-focused crypto tokens like $GHOST and $EYE gain traction amid market volatility, driven by demand for verifiable infrastructure and scalable solutions. - A major whale's $16.7M investment in $GHOST and GhostwareOS's Solana-based privacy modules highlight growing institutional confidence in the ecosystem. - Solana ETFs attract $421M in inflows, contrasting broader crypto outflows, while $EYE's renewable energy-AI hybrid model offers tangible asset-backed returns. - Zcash's 1,000% surge underscores

Bitget-RWA·2025/11/04 13:24

BNB News Today: Apriori Suffers 80% Token Loss, Raising Concerns Over Crypto Airdrop Security and Trust

- Apriori's BNB Chain airdrop lost 80% of tokens to a Sybil group via 5,800 interconnected wallets funded by 13 addresses. - The attack exploited pre-announcement timing and empty wallets, undermining trust in the project's fair distribution claims. - APR token price fell over 60% post-incident, mirroring similar Sybil exploits at MYX Finance and zkSync that siphoned millions. - Experts demand stronger anti-fraud measures like multi-factor checks as BNB Chain faces scrutiny over recent security lapses.

Bitget-RWA·2025/11/04 13:12

Pfizer Files Lawsuit Against Novo: Alleges Competitor Engaged in Antitrust Scheme to Dominate Obesity Market

- Pfizer sues Novo Nordisk and Metsera in Delaware courts, alleging anticompetitive tactics to block its $7.2B obesity drug acquisition. - Novo's $8.5B superior bid for Metsera's GLP-1 pipeline—valued at $5B peak sales—triggers legal claims over regulatory bypass and contract violations. - Pfizer leverages early FTC approval for its deal, seeking court orders to force a November 13 shareholder vote amid patent expiration threats. - The dispute highlights $150B obesity market stakes, with Novo defending its

Bitget-RWA·2025/11/04 13:12

Hidden Leverage and External Party Risks Lead to XUSD Downfall

- Stream Finance's XUSD stablecoin collapsed to $0.30, freezing $160M in user funds after a $93M loss linked to an external fund manager. - The crisis followed a $100M exploit at Balancer Protocol, amplifying DeFi market anxiety and triggering rapid fund withdrawals. - Stream's high-leverage model and hidden $520M TVL vs. $160M actual deposits raised red flags about risky third-party fund usage. - XUSD's collapse exposed DeFi vulnerabilities, reigniting debates on third-party risks and urging audits for pr

Bitget-RWA·2025/11/04 12:54

Bitcoin News Today: Sequans Revamps Treasury Strategy—From Bitcoin Collateral to Reducing Debt—to Enhance Shareholder Returns

- Sequans Communications sold 970 BTC to cut convertible debt by 50%, reducing total debt to $94.5M and lowering debt-to-Bitcoin NAV ratio to 39%. - Remaining 1,294 BTC collateralized outstanding debt, while the sale supported its ADS buyback program to boost Bitcoin per share metrics. - CEO Georges Karam called the move a "tactical value unlock," enabling strategic initiatives despite a $11M non-IFRS net loss in Q3 2025. - Enhanced liquidity now allows capital market initiatives like preferred share issua

Bitget-RWA·2025/11/04 12:54

MYX News Update: The Integration of Energy, Grid, and DeFi Drives MYX Finance Toward 2030 Growth

- MYX Finance emerges as a key player in crypto-driven growth, leveraging energy infrastructure and DeFi trends for 2030 expansion. - Grid modernization and uranium sector advancements via ISR technology create indirect tailwinds for MYX's token valuation potential. - Strategic partnerships with energy firms and DeFi platforms could unlock cross-sector synergies through tokenized asset offerings and fee-sharing models. - Institutional confidence in DeFi and targeted capital mechanisms position MYX to capit

Bitget-RWA·2025/11/04 12:54

ARK Invest Makes Major Move Toward Regulated Crypto Infrastructure, Moving Away from Conventional Tech Leaders

- ARK Invest added $12M in Bullish shares across three ETFs, boosting total holdings to $114M in the regulated crypto exchange. - Bullish secured New York licenses and expanded U.S. trading, processing $1.5T in volume since 2021 with institutional clients. - ARK's crypto ETFs now allocate 17.7%-29% to blockchain infrastructure, shifting focus from traditional tech stocks like Palantir . - The firm's strategy includes leveraging market dips, exemplified by its $172M Bullish investment post-NYSE IPO to capit

Bitget-RWA·2025/11/04 12:54

Trust Wallet’s TWT-Driven Initiative Bridges the User Acknowledgment Gap in Web3

- Trust Wallet launches Trust Premium, a TWT-powered loyalty program rewarding users for swaps, staking, and asset holding via tiered rewards. - The program addresses Web3's lack of user recognition by offering gas discounts, exclusive airdrops, and early access to features for Gold-tier members. - CEO Eowyn Chen highlights the shift from "earn and forget" to sustained value, aligning with Trust Wallet's mission to make Web3 accessible and rewarding. - Launched November 3, 2025, the initiative integrates r

Bitget-RWA·2025/11/04 12:26

Flash

12:15

The US ADP Employment Change for May was 122,000, compared to the expected 117,000 and the previous value of 109,000.

BlockBeats News, June 3rd: In May, the ADP Employment Change in the United States was 122,000, higher than the expected 117,000, and the previous value was 109,000. (FX678)

12:14

Caixin Futures: Agricultural products fluctuate with a strong bias; rapeseed oil rises nearly 4% as overseas weather boosts positions

⑴ Oils & Fats: Fluctuating with a slight upward trend. Weather disturbances in overseas rapeseed-producing regions have fueled bullish sentiment in rapeseed oil, with the main contract closing up 3.94% at 10,353 yuan/ton and open interest surging by 96,000 lots. Internationally, continued high temperatures and low rainfall in Europe, reduced sowing and output forecasts for new-season rapeseed in Australia, and ongoing delays in Canadian rapeseed planting have heightened concerns over reduced new crop production, strengthening international rapeseed costs and supporting rapeseed oil prices. Domestic rapeseed oil inventories remain at historically low levels; as Canadian rapeseed arrivals increase, supply is expected to loosen, with downstream buyers making purchases only as needed. In the short term, the market is primarily driven by overseas weather factors. On the spot market, 24-degree palm oil in Guangdong rose 30 yuan to 9,620 yuan, soybean oil fell 10 yuan to 8,810 yuan, and genetically modified rapeseed oil in Jiangsu increased by 220 yuan to 10,580 yuan.⑵ Soybean Meal: Favor short positions on rallies or consider spread trades. The pressure from imported soybeans arriving at domestic ports continues, crushing activity at oil mills is recovering, and soybean meal inventories are continuing to build up. On the demand side, deep losses in live hog farming and relatively abundant feedstock inventories at feed enterprises have curtailed speculative stockpiling, leaving the domestic market in a strong supply and weak demand pattern, with spot prices remaining weak. The recommended approach is to maintain short positions on rallies.⑶ Corn: Favor short positions on rallies. Today, corn futures rose initially then fell, mainly due to news on June 5 about corn being released from reserves, which prompted the decline. The fundamental picture hasn’t changed: grain supplies are still mostly held by suppliers with strong price support intentions, but the launch of sprouted wheat and wheat onto the market increases overall grain supply pressure. Downstream enterprises have sufficient inventories and typically purchase as needed. The arrival of wheat onto the market reduces corn demand from downstream industries. Given strong supply and weak demand, spot corn prices remain under pressure and are trending weak.⑷ Live Hogs: Consider spread trades. Today, live hog futures rebounded sharply, largely due to production cuts by major groups and secondary fattening entering the market to support spot prices; it remains to be seen whether this can continue. Fundamentals show some marginal improvement, but the degree is slight and the basic pattern hasn’t changed. However, companies’ planned slaughter volume for June is down slightly month-on-month, with little change in average slaughter weights. Overall supply is expected to contract somewhat, while short-term demand remains flat. Live hog futures are expected to remain volatile in the short term.⑸ Eggs: Consider long positions on spreads. Over the weekend, spot egg prices posted large increases, pushing futures prices higher today, with the JD2606 and JD2607 contracts closing at their daily limit. In the short term, low egg inventories, combined with increased stockpiling demand ahead of the Dragon Boat Festival, could make it easy for egg prices to rise and difficult for them to fall. However, a significant increase in chick replenishment in February means the number of laying hens may recover mid-term, which could to some extent limit further price gains. Additionally, current farming profits have increased significantly compared to the same period last year, so caution is advised.

12:14

Caixin Futures: Energy and chemical products rebound amid fluctuations, asphalt spot prices remain stable at 4,470 yuan/ton

⑴ Crude Oil: Fluctuating rebound. Yesterday, the US military stated that Iran launched attacks across the entire Middle East, with the US intercepting several missiles and drones. In the short term, repeated geopolitical events triggered a rebound in crude oil and the energy-chemical sector. For some varieties, a higher basis pushed futures prices closer to spot prices, shifting the short-term outlook to a stronger fluctuation. If geopolitics subsequently ease, the rebound is expected to be limited, energy-chemical products will show strong current reality but weak expectations, and short-term volatility will intensify.⑵ Fuel Oil: Fluctuating rebound. During the Middle East conflict, oil-producing countries reduced production, and domestic high-sulfur fuel oil is highly dependent on imports. US-Iran negotiations are deadlocked, and recently Russian fuel oil exports have also been disrupted, while electricity demand is in peak season. Rerouting ships has increased marine fuel demand, and fundamentals are relatively strong. Overall, the situation may develop toward easing, and amid short-term uncertainty, a brief bullish position can be taken, but the upside is expected to be limited.⑶ Asphalt: Fluctuating to the strong side. Today, the price of Shandong 70# heavy traffic asphalt is 4,470 yuan/ton, flat month-on-month; transaction activity for some high-priced resources is average, with most participants making purchases based on rigid demand. In June, total domestic local refinery asphalt production is 625,000 tons, a decrease of 249,000 tons month-on-month, down 28.5%. Inventories at 54 domestic sample asphalt plants total 856,000 tons, down 3.6% from May 28 and up 1.2% year-on-year; inventories at 104 social warehouses total 1.381 million tons, down 2.7% from May 28 and 26.3% lower year-on-year. In the short term, spot remains strong and inventories continue to fall; asphalt may fluctuate to the strong side in the short term, and medium-term attention should be paid to the US-Iran situation.⑷ Glass: Sell on rallies. Today, trading in the North China market was lukewarm overall, with participants purchasing as needed and most prices remaining stable. The East China market operated stably; at the beginning of the month, some companies managed credit sales, and mid- and downstream buyers were cautious, primarily on rigid demand. Current daily industry output is 145,700 tons; last week, upstream manufacturer inventories increased by 368,000 heavy boxes (+0.48% MoM, +13.54% YoY). Persistently low supply provides some support for prices, while rising energy prices are increasing costs. Short-term rebound is expected to be weak, but medium-term supply-demand pressures persist, so potential gains are relatively limited.⑸ Soda Ash: Sell on rallies. Today, the domestic soda ash market remained stable, with little price fluctuation. Output at some enterprises has declined, reducing supply. Downstream demand is moderate, with low-price restocking as the main activity. Recently, trading has slowed, sentiment is weak, and downstream players face significant pressure.⑺ Methanol: Fluctuating rebound. Today, spot price in Taicang is 3,203 (+13); in the northern Inner Mongolia line it is 2,750 (+20). On Wednesday, the domestic methanol market operated on the firm side, with futures prices rising in tandem with commodities. In coastal markets, given low inventories and reduced imports, transaction focus shifted higher. Basis remained weak and stable, restrictions and queuing continued in main inland production areas, and the overall spot supply is tight.

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The US ADP Employment Change for May was 122,000, compared to the expected 117,000 and the previous value of 109,000.

Caitong Futures: Ferrous metals show divergent consolidation, with coking coal exhibiting proactive strength among bulls

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