Cryptocurrency
DeFi tries to recover from Curve hack, but exploits continue: Finance Redefined

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.
The DeFi ecosystem is yet to recover from the crisis brought on by the Curve Finance hack, and even though the issue seems contained, another set of exploits hit the DeFi ecosystem this past week.
DeFi protocol Steadefi is the latest victim of an ongoing exploit as the ecosystem was still recovering from the Curve crisis.
Binance came forward to invest $5 million in the Curve token as the hacker partially returned the funds to manage the risk associated with the Curve token price.
In other news, Aptos has partnered with Microsoft to collaborate on multiple Web3 solutions, helping its token soar in double digits. Coinbase became the first publicly listed company to launch a decentralized layer-2 platform called Base, which has already attracted significant interest from the DeFi community.
Binance invests $5 million in Curve token as hacker partially returns funds
Binance Labs, the venture arm of cryptocurrency exchange Binance, has invested $5 million in Curve Finance (CRV), the namesake token of the decentralized stablecoin trading platform.
“Curve is the largest stableswap and second-largest DEX [decentralized exchange], with approximately $2.4 billion in total value locked and $215 million in daily volume at the time of writing,” Binance Labs said in the Aug. 10 announcement. Yi He, Binance’s co-founder and head of Binance Labs, said the firm is pledging its full support to the DEX “given recent events that have impacted the protocol.”
Aptos token rises 11.6% after Microsoft deal to marry AI with blockchain
Aptos (APT), the cryptocurrency powering the layer-1 Aptos Network, is up approximately 11.6% since announcing it will leverage Microsoft’s suite of artificial intelligence tools to advance Web3 adoption among banks and financial enterprises.
This will be achieved by enabling the Aptos Network to tap into Microsoft’s Azure OpenAI service to explore innovations in asset tokenization, on-chain payments and central bank digital currencies, Aptos said in an Aug. 9 statement.
Base network has officially launched: Here’s how it can be used
Coinbase’s Base network has officially launched after spending a few weeks in an “open for builders only” phase. The network is now ready to onboard users, according to an Aug. 9 announcement from the team.
Several Web3 development teams have simultaneously announced that they are releasing apps for Base, and the network’s team has released a schedule of upcoming events to celebrate its launch.
Breaking: ‘All funds are at risk’ — Steadefi exploited in ongoing attack
DeFi app Steadefi was exploited for at least $334,000 on Aug. 7 in an ongoing attack. The app’s development team said in a social media post that the attack currently “puts all funds at risk.” The app’s total value locked has plummeted due to the attack, according to data from DefiLlama.
The Steadefi team posted a message to X (formerly Twitter) stating: “NOTICE: Steadefi has been exploited and all funds are currently at risk.” The team also confirmed that an on-chain message had been sent to address 0x9cf71F2ff126B9743319B60d2D873F0E508810dc on Ethereum in an attempt to negotiate with the attacker. Blockchain data reveals several large inflows on the Avalanche chain came into this address, beginning at 4:41 pm UTC on Aug. 7.
DeFi market overview
DeFi’s total market value saw a bearish decline in the past week. Data from Cointelegraph Markets Pro and TradingView shows that DeFi’s top 100 tokens by market capitalization had a mixed week, with most tokens trading in the red. The total value locked into DeFi protocols remained below $50 billion.

Thanks for reading our summary of this week’s most impactful DeFi developments. Join us next Friday for more stories, insights and education regarding this dynamically advancing space.
Cryptocurrency
TRUMP Soars 12% Daily, Bitcoin Price Consolidation Continues (Weekend Watch)

Bitcoin’s rather boring price actions continued in the past 24 hours, but the asset has notched some minor gains and stands above $85,000.
Solana has jumped the most from the larger-cap alts and now trades close to $140, while ETH continues to struggle with reclaiming $1,600.
BTC Above $85K
It was a relatively quiet week for the primary cryptocurrency, especially when compared to the previous one. Back then, the asset plunged by $12,000 to under $75,000 for the first time in five months, only to regain a big portion of that by Thursday and Friday.
The weekend was sluggish, but the bitcoin bulls had minor control. They drove the asset from under $83,000 to $85,000 by Sunday evening. Moreover, BTC jumped to $86,000 on Monday but was stopped there and dropped to $83,000.
Another leg up followed on Wednesday when BTC peaked at a multi-week high of $86,500. However, it faced another rejection there and lost over three grand. More volatility ensued after Jerome Powell’s latest public appearance, in which he warned against the potential impact of Trump’s trade war on the US economy. BTC fell by a few grand but recovered the losses in the following days and now sits above $85,000.
Its market cap has slipped to $1.690 trillion on CG, while its dominance over the alts stands tall at 61%.
TRUMP Rises
Most larger-cap alts have produced minor gains over the past day. Under or around 1% increases are evident from ETH, XRP, DOGE, BNB, and ADA. SOL has risen the most from this cohort of assets by 3.7% and now trades at $140.
The biggest gains on a daily scale come from Official Trump. The meme coin launched by the US President and his team is up by almost 12% and now trades above $8.5. TAO, IMX, FLR, and HYPE follow suit, with price increases of up to 8%.
The total crypto market cap has remained at essentially the same place as yesterday, at $2.780 trillion.
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Cryptocurrency charts by TradingView.
Cryptocurrency
Peter Schiff: Bitcoin a ‘Fraud,’ Strategy Will Probably Go ‘Bankrupt’

The foreign equities and gold bug investor with over a billion dollars in assets under management took a big swipe at Bitcoin and Michael Saylor’s BTC-accumulating finance company, formerly named MicroStrategy.
He said Strategy will go bankrupt over Bitcoin. But if this is reverse psychology, it must be working on Saylor. His company still hasn’t stopped racing other firms for more BTC in whale-sized bites.
Peter Schiff Pulls No Punches on BTC in X Spaces Gag
To start off the program, Schiff said Bitcoin’s promoters sold it as a kind of digital gold, but it hasn’t performed like the precious metal at all, so the “marketing” was a “fraud.”
“The idea that it’s digital gold has been destroyed because it trades nothing like gold. It’s just some kind of risk asset.”
But, Bitcoin’s promoters did not say it would perform as an investment with ROIs like gold. They said it is similar in its economic properties to the metal because of its limited supply and the difficulty and cost of securing it.
While it is true that Bitcoin’s price lately has not traded like gold, that’s because over timescales very relevant to individual investors it has performed fantastically better than the yellow metal.
Bitcoin vs. Gold ROIs 2009-10 to Present
INSIGHT: Gold’s growth is strong, but Bitcoin’s massive gains can’t be ignored.
Gold just hit a new ATH of $3,310, while Bitcoin is consolidating. But when we zoom out, BTC’s epic rise far outpaces gold’s performance.
What’s your prediction? pic.twitter.com/1OkHGXltp5
— Coin Bureau (@coinbureau) April 16, 2025
Some fraud that would be to explain to a judge:
Sorry, we told the litigant that the product was like an instrument that delivered 230% ROI in 16 years since 2009, and it only delivered 2.82 billion percent since 2010.
On the X podcast, Schiff asked:
“What purpose does Bitcoin serve? We got plenty of risk assets out there. It’s a super risk asset that’s going to go up faster than other risk assets. Based on what?”
He added, “At least a tech stock- there’s the story there of future earnings that could materialize, you’re buying a business that could earn money.”
Bitcoin provides a banking service, which is traditionally a very profitable, high-growth business because everyone needs it every day in a market economy.
Moreover, Bitcoin does so in a way that is simple and fundamentally useful. It is proven to work reliably, fairly, transparently, and easily for anyone to use.
Bitcoin’s price was up 36% over the trailing 12 months in mid-April.
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Cryptocurrency
Is Bitcoin’s Bull Market Just Getting Started? This Crucial Metric Says So (Details)

TL;DR
- Although bitcoin’s price tumbled by over 20% since its January all-time high and is currently nowhere near it, a crucial metric shows that the actual cycle peak is not here yet.
- In terms of entry prices, though, one analyst cautioned that the current levels might not be optimal.
No Peak Yet?
After hitting an all-time high on January 20 this year at over $109,000, bitcoin’s price started to lose value gradually until the end of the month and then nosedived following the global economic uncertainty prompted by US President Trump’s controversial approach.
The culmination came last week when BTC tumbled below $75,000 for the first time in five months. This meant that the asset had lost nearly $35,000 in less than three months.
This split the community into those who believe the bull market has come to a screeching halt and those who rely on history to be more optimistic, suggesting that such substantial corrections have occurred during all previous cycles. But there are only that—corrections, and BTC will persevere.
Ali Martinez, a crypto analyst with over 135,000 followers on X, brought another key metric that could support the latter. It still relies on historical performance, but it’s not focused on the technical aspects. Instead, it measures the retail activity as BTC tends to peak after a massive influx of such investors.
So far, there hasn’t been a big retail wave. This is evident from the lack of Google searches as well as the missing “retail activity through trading frequency surge.”
#Bitcoin $BTC market tops have historically aligned with surges in retail activity. The move from $70,000 to $110,000 lacked that, echoing the late 2021 setup. pic.twitter.com/rVJPUTpXZC
— Ali (@ali_charts) April 18, 2025
Martinez noted that the current cycle resembles the 2021 run when BTC peaked in April, only to break that high at the end of the year.
Don’t Rush to Buy
Although history suggests there might be more gains on the horizon for BTC, Martinez published another chart that suggests investors should maybe be more patient before allocating funds to the largest digital asset.
This is because of the Bitcoin Exchange inflow volume, a metric used to “spot strong entry points.”
#Bitcoin $BTC exchange inflow volume momentum is a key metric for spotting strong entry points. For now, it’s signaling patience. We’re still waiting for the right opportunity to step in. pic.twitter.com/NSS1fZcHMl
— Ali (@ali_charts) April 19, 2025
This essentially confirms a previous report by Glassnode, which read that the BTC market is now in a “wait-and-see” phase.
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