The SecondFi recovery: 16 million stolen ADA and crypto’s restitution experiment

The post Cardano Founder Confirms the Upcoming Launch of a Political Party appeared on BitcoinEthereumNews.com. Cardano founder Charles Hoskinson announced the ecosystem will soon launch a political party.  The party would operate as a large Delegate Representative (DRep) within the network. Charles Hoskinson has thrown his weight behind the Cardano PRIME proposal. Cardano founder Charles Hoskinson has made public the ecosystem’s plan to launch a political party. Hoskinson announced this during his latest broadcast, confirming the group will launch the party soon and give people “an opportunity to participate.” While making the broadcast, Hoskinson also debunked rumors about retiring or leaving the Cardano ecosystem. He reaffirmed his long-term commitment to the blockchain network, revealing that preparations for the said political party are already underway. A Party That Will Operate as a DRep It is worth noting that Hoskinson’s latest statement builds on an earlier remark about estab

The post Charles Hoskinson Slams Cardano Exit Rumors: “A Complete Lie” appeared on BitcoinEthereumNews.com. Founder Charles Hoskinson has denied rumors that he is retiring from Cardano. He blamed influencers and edited videos for spreading false narratives about his departure. Hoskinson reaffirmed his commitment to Cardano, highlighting upcoming projects. Cardano founder Charles Hoskinson has dismissed rumors that he is retiring or stepping away from the Cardano ecosystem, calling the claims “a complete lie” and “a complete fabrication.” In a video posted this week, Hoskinson said false reports had spread so widely that even a London taxi driver familiar with Cardano mentioned hearing that he was retiring. He also said executives at one of Cardano’s partner companies had been told he was leaving the project. Hoskinson blamed influencers for spreading edited clips, reaction videos, and out-of-context content that falsely claimed he had described Cardano as a failing project before decid

The post Cardano Price Climbs, but Its DeFi Engine Is Quietly Collapsing appeared on BitcoinEthereumNews.com. Cardano’s biggest problem right now is not ADA’s price, which is rising, but the DeFi economy beneath it, which is falling apart. App-level fees, the revenue that DeFi protocols actually earn, dropped 67.1% over the past 30 days, even as the Cardano price gained about 3.6%. That combination is the story. A token can surge while the network built on it quietly empties out, and Cardano is doing exactly that. The Cardano Price Rises While the Apps Empty Out ADA trades near $0.167, up roughly 3.6% on the month and still holding 18th by market value at about $6.2 billion. On the chart, the month looks fine. Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here. Underneath, the picture reverses. The chain’s own gas fees fell 35.7% over 30 days, but the fees earned by DeFi apps fell almost twice as fast, down 67.1%. When app revenue drops

The post Zcash Sets July 28 Date for Ironwood Upgrade to Prove ZEC Supply Integrity appeared on BitcoinEthereumNews.com. Key highlights: The Ironwood upgrade introduces a new private transaction pool, closing the current Orchard pool The update will determine if counterfeit coins were ever created with an exploit that has since been patched ZEC has seen some upside after falling around 50% on the disclosure of the flaw Zcash developers have officially confirmed that the network’s Ironwood upgrade will go live on July 28, after weeks of discussion and preparation. The update is designed to fix the security issue that was discovered earlier this year in Orchard, the blockchain’s shielded transaction pool. Developers maintained that there was no evidence that the bug was ever used.  However, the integrity of the network’s token supply still came into question, which is what the Ironwood upgrade is designed to address.  Zcash upgrade aims to strengthen supply verification According to Zcas

The post The SecondFi recovery: 16 million stolen ADA and crypto’s restitution experiment appeared on BitcoinEthereumNews.com. An exploit drained roughly 16 million ADA, about $2.4 million, from 374 Cardano wallets in late June. What happened next is the interesting part: EMURGO, one of Cardano’s founding entities, announced a recovery path to return the assets within two weeks, while an independent forensic team including Mt. Gox veterans published competing findings. Crypto has spent fifteen years insisting stolen funds are gone forever. Cardano is running a live experiment in whether that has to be true, and every chain is watching the precedent. Summary A Cardano linked exploit drained about 16 million ADA from 374 wallets, with EMURGO outlining a two week plan to return affected users’ funds. Independent investigators challenged parts of the official account, putting competing forensic findings at the centre of how victims could qualify for restitution. The recovery effort is test

The post Cardano Price Prediction: Hoskinson Calls Ethereum’s EUTXO Move a Crime as ADA Holds the 20-Day EMA appeared on BitcoinEthereumNews.com. Hoskinson called reports of his retirement “categorically untrue” and a complete fabrication He accused the Ethereum Foundation of copying Cardano’s EUTXO model without acknowledgment ADA is holding above the 20-day EMA at $0.1682 after a bullish RSI divergence formed at the June lows Cardano trades at $0.1667 on July 10, up 0.24% and clinging to support after a week dominated by US-Iran volatility, a retirement rumor, and a public confrontation with the Ethereum Foundation. Is ADA Finding Support At The 20-Day EMA? ADA 1D Price Action (Source: TradingView) The daily chart shows ADA sitting just above the 20-day EMA at $0.1682, a level that has acted as the pivot point throughout this recovery from the June low near $0.14. Price dipped to $0.1656 intraday before recovering, and the RSI divergence tool shows a bullish signal still active at 47

The post Glacier Drop Portal Reopens as Midnight Foundation Confirms Security appeared on BitcoinEthereumNews.com. TLDR Midnight Foundation reopened the Glacier Drop redemption portal after completing a security review linked to the SecondFi incident. The Foundation confirmed its infrastructure remained secure and unaffected by the breach involving 16 million ADA. NIGHT token redemptions resumed on June 9, with all thawed tokens now available for eligible users. The Glacier Drop distribution schedule remains unchanged despite the temporary suspension of the portal. The program continues in its third phase, with the final redemption window set to end in December 2026. The Midnight Foundation has reopened its Glacier Drop redemption portal for Cardano users after completing a security review. The decision follows a temporary suspension linked to a security incident affecting certain wallets connected to SecondFi. Midnight Foundation confirmed that redemptions resumed without any impact o

The post Crypto Price Analysis July-10: ETH, XRP, ADA, BNB, and HYPE appeared on BitcoinEthereumNews.com. This Friday, we examine Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid in greater detail. Ethereum (ETH) Ethereum closed the week in the green with a modest 3% gain. Buyers wanted to push ETH higher, but sellers came in strong at the $1,800 key resistance and stopped the uptrend. If bulls cannot break resistance, the price will have no choice but to reverse and approach support at $1,500. This would place this cryptocurrency in a range between $1,500 and $1,800. Looking ahead, Ethereum had a brief relief rally that appears to have stopped. To resume it, the price has to turn $1,800 into support. Any failure there would give sellers another chance at new lows. Source: TradingView Ripple (XRP) XRP is closing the week flat and remains near support at $1. Buyers attempted to push XRP beyond $1.18, but that resistance held, sending XRP into a pullback. While support at $1 appe