The crypto market has been turbulent beneath the surface these past few days—have you felt it?


Here’s a summary of several developments in the crypto market over the past two days
▶️Account hacks and dumping: The obvious playbook under decentralization
The Trump team issued a statement saying it had not authorized the token and had cooperated with the investigation, but its X account had previously been hacked to issue a token, and the liquidity pool was drained within minutes, going to zero in one second. Using celebrity IP to run insider schemes and dump tokens has become a standardized tactic. In an unconstrained decentralized environment, retail investors rushing in are merely footing the bill for low-cost breaches of trust by cybercriminal groups
▶️On-chain illicit operations have long been industrialized
After cashing out $8.2 million, the GOLD group immediately deployed a new token to continue exploiting victims
▶️A vulnerability in a Cosmos module caused six chains to lose $5.72 million. In fact, a white hat had submitted the vulnerability as early as four months ago, but the team misjudged it and failed to patch it in time, directly triggering a chain reaction across multiple chains. This exposed the biggest fatal flaw in modular architecture: once a crack appears in the shared foundation, the entire ecosystem has to pay the price
▶️The stablecoin battle: Traditional finance’s weak spot has been exposed
The Tether CEO directly confronted the BIS, bluntly stating that tokenized deposits lack sufficient backing. Traditional banks rely on fractional reserves and credit commitments, while Tether is backed by 100% government bonds and liquid assets. This compliance battle is crypto capital taking on the fragile credit system of traditional banking head-on
▶️The legitimate players are clearing the field and buying the dip
BitGo acquired NYDIG’s institutional trading business for $42.5 million, completing the loop from compliant custody to trading, while SK Telecom went even further by spinning off its AI data center SK Horizon and raising $2.2 billion
▶️The macro inflection point and short-term selling pressure
Unrealized profits among short-term Bitcoin holders are approaching 15%, right at a sensitive level. Combined with the upcoming release of U.S. Federal Reserve nonfarm payroll data and the Beige Book, many short-term funds will likely choose to lock in profits
Outlook
On-chain risk controls will be forced to upgrade
Relying on traditional audits to defend against illicit operations has already failed. In the future, it will be necessary to rely on AI to intercept transactions within milliseconds the moment they are submitted on-chain.
The boundary between AI computing power and Web3 is dissolving
Data centers on the scale of SK Horizon will likely be linked to decentralized computing power or crypto energy networks in the future: capital needs tangible support, while AI needs elastic computing power
The market is rapidly splitting
Fragile small protocols are being accelerated out of the market by illicit operations and vulnerabilities, while the true giants are making their infrastructure increasingly robust
In the short term, the broader market is very likely to stage a pullback on macro sentiment, flushing out highly leveraged positions
But in the long run, capital will continue to tilt toward highly liquid, compliant stablecoins and treat them as safe-haven pools
In the face of the volatility ahead, do you plan to build positions on dips or lock in profits?
DYOR
TRUMP-4.72%
ATOM-1.20%
USDT0.00%
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GateUser-44e190b7
· 2 hours ago
👏
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GateUser-d898a447
· 3 hours ago
Is it lit, sis?
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