Trading and Infrastructure Updates
Echo Protocol breached while Ostium launches equity perpetuals
Here is what we have in store in this Market Summary:
1. Echo Protocol loses $77M in eBTC minting exploit on Monad
2. A DeFi exchange launches the first equity perpetuals powered by Nasdaq data
3. Revolut unveils its first physical crypto card
4. Galaxy Digital receives a New York BitLicense
5. AEON raises $8M for AI agent settlement infrastructure
Echo Protocol loses $77M in eBTC exploit
Echo Protocol lost around $77M after attackers used a compromised admin key to mint roughly 1,000 unauthorized eBTC on Monad.
Part of the stolen funds was used to borrow around $3.45M in wrapped bitcoin through Curvance before being moved through Tornado Cash. The protocol later said it regained control of the compromised admin keys and burned the remaining 955 eBTC still held by the attacker.
Read the full article by CoinDesk here
Ostium launches equity perpetuals powered by Nasdaq data
Ostium became the first onchain trading platform to offer equity perpetuals tied to individual U.S. stocks using Nasdaq market data.
The launch allows users to trade perpetual products tied to equities using real-time pricing infrastructure linked to traditional financial markets.
Read the full article by CoinDesk here
Revolut launches physical crypto card
Revolut introduced its first physical crypto card as crypto-linked card usage continues expanding across payment platforms.
The card will be usable anywhere Visa and Mastercard are accepted, and will first roll out in the UK and European Economic Area, excluding Hungary, Switzerland, and Portugal.
Read the full article by The Block here
Galaxy receives New York BitLicense for digital asset services
Galaxy Digital received both a BitLicense and Money Transmission License from the New York State Department of Financial Services.
The approval allows GalaxyOne Prime NY, the firm’s New York subsidiary, to provide trading and custody services to residents and institutional clients in the state.
Read the full article by The Block here
AEON raises $8M for AI agent settlement infrastructure
AEON raised $8M in a pre-seed funding round led by YZi Labs to develop settlement infrastructure for AI agents.
The company is building systems that support AI agent-to-agent payments and transactions across blockchain networks. AEON also said its first AI payment product already connects AI agents with more than 50M real-world merchants globally.
Read the full article by The Block here
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Disclaimer:
The content covered in this newsletter is not to be considered investment or financial advice. It is for informational and educational purposes only. The views and opinions expressed in this publication do not reflect those of AP Collective.