Weekly digest covering major acquisitions (Visa-Fireblocks $2.5B), protocol exploits ($2.3M Morpho, $2.6M Initia), security breaches, regulatory developments, exchange listings, and market flows across crypto assets.
Security & Exploits ·
Visa is pursuing an acquisition of crypto custodian Fireblocks for approximately $2.5 billion, marking a major consolidation move in digital asset infrastructure. Separately, Metaplanet shareholders approved a 2,100 BTC acquisition that brings the company's total holdings to 848,517 BTC. The week also saw significant protocol security incidents, including a $2.3 million delegation attack on Morpho and a $2.6 million exploit targeting the Initia protocol, alongside breaches affecting Railway's cloud infrastructure and Swell DAO's admin keys.
Regulatory and market developments included a16z's decision to remove "crypto" from its flagship fund's name to expand beyond blockchain investments, while Southeast Asian central banks advanced a cross-border stablecoin initiative partnering with Ripple, Visa, and Mastercard. Derivatives markets expanded with Webull launching perpetual futures via Kalshi and CME introducing Bitcoin Cash and Uniswap futures contracts. Additional infrastructure moves encompassed Pumpfun's cross-chain bridge launch and Ethena's USDe activation on OKX's X Layer.
Bitcoin and Ethereum spot ETFs recorded net outflows of $85.7 million and $239.9 million respectively during the week, alongside smaller outflows from Solana and Hyperliquid positions. Multiple exchanges listed new tokens, though several additional security disclosures—including customer data theft at Keystone wallet and a zero-day vulnerability in Tailscale—underscore ongoing infrastructure vulnerabilities in the sector.