XRP charts point to new highs. Will Ripple’s attendance in next week’s “From Wall Street to Web3” summit boost the altcoin’s price? Key point: XRP will complete a bullish pattern on a break above $2.34, which could propel the price toward new highs. Lawmakers with the US Senate Banking Committee will conduct a hearing on Wednesday titled “From Wall Street to Web3: Building Tomorrow’s Digital Asset Markets,” and Ripple CEO Brad Garlinghouse is one of the participants. Read more
The exploit of the GMX V1 decentralized exchange is the latest in a string of attacks targeting crypto firms and users in 2025. The GMX protocol halted trading on GMX V1 after a liquidity pool suffered an exploit on Wednesday, leading to $40 million in funds being stolen and sent to an unknown wallet. GMX V1 is the first version of the GMX perpetual exchange deployed on the Arbitrum network. The attacked pool is a liquidity provider for the GMX protocol with a basket of underlying digital assets including Bitcoin (BTC), Ether (ETH) and stablecoins, according to the GMX team. The protocol has also announced a temporary suspension in minting and redemption of GLP tokens on both Arbitrum and the layer-1 Avalanche network to protect against any additional fallout from the cybersecurity exploit. Read more
The legislation to establish crypto market structure is one of three bills the US House of Representatives is expected to consider starting next week. Massachusetts Senator Elizabeth Warren is sounding the alarm about how publicly traded companies could essentially bypass US securities laws if a bill to regulate cryptocurrency markets becomes law. In a Wednesday hearing of the Senate Banking Committee to address crypto market structure legislation, ranking member Warren said she would be in favor of digital asset regulations strengthening the US financial system, but expressed concerns about the Digital Asset Market Clarity, or CLARITY, Act under consideration in the House of Representatives. The Massachusetts senator suggested that “non-crypto companies” could tokenize their assets to evade regulations enforced by the US Securities and Exchange Commission (SEC). Read more