Publicly traded companies are building strategic reserves in digital assets like BNB and Solana. Industry leaders explain why this could be the next institutional on-ramp for crypto. Publicly traded companies are increasingly swapping traditional cash reserves for digital assets, and they’re doing it in ways designed to attract both retail and institutional investors. In the latest Byte-Sized Insight episode, Cointelegraph’s Savannah Fortis spoke with two leaders in this space: David Namdar, CEO of the newly renamed BNB Network Company (formerly CEA Industries), and Joseph Onorati, CEO of DeFi Development Corporation (DFDV). “This is a story that hasn’t been told well… a lot of people, particularly in the US, really haven’t seen the growth of BNB Chain or how massive Binance is globally,” said Namdar. Read more
Stability DAO said it had identified two CrediX Finance team members and was working with other projects and authorities to recover the stolen funds. The team behind the decentralized finance (DeFi) protocol CrediX Finance seems to have disappeared following a $4.5 million exploit that drained funds from the platform, raising suspicions of an exit scam. On Monday, blockchain security firms flagged the exploit and determined that crypto assets worth $4.5 million had been taken from the platform. In response, the DeFi protocol paused its website to prevent users from depositing any more funds. Blockchain security firm SlowMist wrote that six days before the exploit, the attackers accessed the protocol’s multisig admin and bridge wallets. The access was used to mint crypto that was used as collateral to drain the DeFi protocol’s liquidity pools. Read more