Weekly DeFi briefing covering Solana governance changes, Injective's SEC milestone, stablecoin expansions, multiple exploits totaling $44.5M, strong ETF inflows, and regulatory updates on Trump crypto ventures.
Security & Exploits ·
Solana's governance approved a proposal to double its disinflation rate, reducing new token issuance by 18.9M SOL, while Injective achieved a first-of-its-kind milestone as the initial Layer 1 blockchain registered as an SEC transfer agent. Separately, the Trump family's new crypto bank secured preliminary approval alongside backing from an Abu Dhabi Sheikh, though investors tied to Trump-linked crypto ventures face reported losses exceeding $4.7B since 2022.
Stablecoin ecosystems expanded this week: Ethena Foundation announced plans to buy out venture investors, activate its fee switch, and broaden USDe backing to include equity basis trades. Circle's USDC gained mainstream visibility as the official shirt sponsor for Chelsea FC starting in the 2026/27 season. LayerZero revealed plans to launch an institutional crypto exchange called Atlas in the coming fall.
Security incidents dominated risk narratives, with exploits affecting Term Labs ($8.5M), Moonwell, and yield manipulation on Morpho ($36.4M in liquidations triggered by YT-REUSUD). Bitcoin and Ethereum ETFs saw strong inflows of $924.5M and $815.7M respectively, while Strategy USD's reserves grew $1.9B to $6.7B without any Bitcoin purchases over the period. Whether regulatory clarity on Trump-linked ventures will clarify investor recovery prospects remains unresolved.