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DeFi ‘circuit breaker’ could slash hack losses by 70%: Finance Redefined

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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.

Amid the growing number of hacks in the DeFi ecosystem, a smart contract developer has made a new Ethereum request for comment (ERC) proposal to introduce a circuit breaker that could cut losses from hacks by 70%.

In another exploit scare, Some Multichain contracts on Ethereum suffered withdrawals of more than half of their deposits, causing on-chain sleuths to fear an exploit is underway. The Poly Network was exploited again due to a private key compromise, and developers have requested users to withdraw funds after the exploit affected 57 crypto assets.

BarnBridge DAO members were told to pause “all work” related to the project after a reported probe by the United States Securities and Exchange Commission (SEC).

Decentralized social media protocol DeSo has issued a $1 million bounty for building a competitor to Reddit using its native blockchain.

The top 100 DeFi tokens had a mixed week. Most tokens traded in the same range as the previous week, with a minor bearish correction.

ETH DeFi “circuit breaker” could cut hack losses by 70% — Developer

A decentralized finance “circuit breaker” could have prevented billions of dollars worth of crypto from being stolen from DeFi protocols in 2022, according to the developer of the newly published ERC-7265 proposal.

A new ERC proposal was published on GitHub on July 3. In it, the lead developer Diyahir Campos proposed a standard for a DeFi “circuit breaker.” It essentially aims to set a standard for a smart contract that can halt suspiciously large token outflows from a DeFi protocol.

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BarnBridge DAO calls halt to “all work” on DeFi protocol amid SEC probe

BarnBridge DAO members have been told to pause “all work” related to the project after a reported probe by the SEC.

In a July 6 post on the platform’s Discord channel, Douglas Park, a lawyer for the decentralized autonomous organization, revealed the news to members. “I am letting you know that the Securities and Exchange Commission is investigating BarnBridge DAO and individuals associated with the DAO,” Park said.

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Multichain MPC bridge sees $100 million+ outflows, sparking fears of exploit

Abnormally large outflows from the Multichain MPC bridge platform are sparking fears of a multimillion-dollar exploit.

On July 6, observers noticed that approximately $102 million worth of crypto had been withdrawn from Multichain’s Fantom bridge on the Ethereum side, as well as $666,000 from Dogechain and $5 million from Moonriver.

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Poly Network urges users to withdraw after exploit affects 57 crypto assets

Further details are coming to light following a July 2 attack on cross-chain bridge platform Poly Network, with a hacker being able to issue billions of tokens out of thin air for profit.

In a July 2 tweet, Poly Network confirmed it became the latest DeFi exploit victim after attackers managed to manipulate a smart contract function on the cross-chain bridge protocol, adding it will be temporarily suspending services.

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DeFi market overview

DeFi’s total market value saw a bullish surge after three bearish weeks. 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 green. The total value locked in 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

Gate Launches xStocks Trading Section, Bridging Crypto Finance and Global Capital Markets

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[PRESS RELEASE – Panama City, Panama, July 3rd, 2025]

In July 2025, Gate, a global leading digital asset trading platform, officially launched its xStocks trading section, covering both spot and futures markets. The initial listings include 8 popular tokenized stocks, such as COINX, NVDAX, CRCLX, AAPLX, METAX, HOODX, TSLAX, and GOOGLX, enabling global users to trade tokenized stocks directly with crypto assets like USDT. Gate Alpha has also rolled out support for xStocks, listing MSTRx, CRCLx, SPYx, NVDAx, TSLAx, and AAPLx, further expanding users’ access to on-chain assets and strategic trading options.

This initiative not only diversifies investment channels for crypto users but also marks a new phase in the convergence of crypto finance and traditional markets. Gate is now the first platform to launch a futures market for tokenized stocks, establishing a fully closed-loop trading infrastructure at the intersection of digital and traditional finance.

Removing Barriers: Connecting Global Users to Wall Street

Gate’s xStocks trading section adopts a compliant, asset-backed tokenization model. All tokens are fully collateralized and represent publicly traded U.S. stocks. These tokens are freely transferable and compatible across multiple blockchains and ecosystems.

Unlike traditional brokers that require regional accounts, complex KYC, and fiat settlement, Gate’s tokenized stocks services are globally accessible and require no KYC, allowing users to invest using USDT and other crypto assets. This borderless trading model significantly lowers entry barriers for global participants, offering a seamless path for cross-border capital movement and global portfolio allocation.

The platform also supports 24/7 trading, fractional investment, and on-chain liquidity, breaking down traditional time and regulatory constraints, and delivering a highly flexible, decentralized investment experience that links TradFi and DeFi.

World-First Futures Market for Tokenized Stocks, Redefining Derivatives Boundaries

As the first platform globally to launch the futures market for tokenized stocks, Gate enables users to apply leverage and execute two-way strategies on U.S. stocks, all under a USDT pricing system, empowering more dynamic risk and return management.

The trading infrastructure has been fully optimized for this launch, with upgrades to matching engines, pricing models, and risk control systems. Tailored to the liquidity profiles of U.S. stocks and the behavioral patterns of crypto-native traders, the system delivers high responsiveness, strong compatibility, and robust user experience across both spot and futures markets.

A Strategic Leap Toward the Next-Generation Crypto Exchange

Gate’s expansion into tokenized stocks represents a key milestone in its long-term strategy of bridging traditional and future finance. By building crypto-native infrastructure for traditional assets, Gate is redefining how users access and interact with global capital markets.

Dr. Han, Founder and CEO of Gate, stated: “Our mission isn’t just to add a new asset class, but to transform the relationship between users and assets. We aim to create a truly global, borderless investment platform that empowers everyone to access financial opportunities worldwide.”

In 2025, Gate completed a major brand upgrade and transitioned to the unified domain Gate.com, marking a new chapter in its global strategy. The platform currently ranks Top 2 globally in spot trading volume, with continued strength in derivatives, liquidity depth, and user activity, reinforcing its position as a leader in global crypto financial infrastructure.

As the digital transformation of global finance accelerates, Gate’s launch of tokenized stocks offers a model for the industry and demonstrates a pioneering approach to integrating decentralized infrastructure with traditional capital markets, propelling the platform toward its vision as the next-generation crypto exchange.

About Gate

Gate, founded in 2013 by Dr. Han, is one of the world’s earliest cryptocurrency exchanges. The platform serves over 30 million users with 3,600+ digital assets and pioneered the industry’s first 100% proof-of-reserves. Beyond core trading services, Gate’s ecosystem includes Gate Wallet, Gate Ventures, and other innovative solutions, while its global partnerships extend to top-tier sports brands like Oracle Red Bull Racing in F1 and Inter.

For more information, users can visit: Website | X | Telegram | LinkedIn | Instagram | YouTube

Disclaimer:

This content does not constitute an offer, solicitation, or recommendation. You should always seek independent professional advice before making investment decisions. Gate may restrict or prohibit certain services in specific jurisdictions. For more information, users can read the User Agreement via https://www.gate.com/user-agreement.

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Bitcoin Price Shoots Toward $110K while Fartcoin and BONK Lead Meme Coin Gains: Market Watch

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Bitcoin’s price is starting to heat up again, pushing towards the important $110,000 level and recording an increase of around 1.6% in the past 24 hours. This comes amid an even more impressive rally from certain meme coins such as Fartcoin and Bonk.

The total crypto market capitalization added around $50 billion during the day and is inching closer to $3.5 trillion. All of this happens as important regulatory changes are likely to take effect in the United States.

Bitcoin Price En Route to New All-Time Highs

At the time of this writing, BTC trades at around $109,500 which is around 2% below its all-time high achieved on May 22nd – about a month a go. And while we’re on the topic of statistics – the all-time low recorded on CoinGecko took place on July 6th 12 years ago. Since then, the cryptocurrency has returned the staggering 161,270% increase.

Anyways, back to the day-to-day news. BTC looks eager to take on its former highs and this is happening as the “One Big, Beautiful Bill” proposed by Donald Trump’s administration passed both Senate and the House votes in the past 24 hours.

It doesn’t include any direct crypto regulations, but it does intend to alleviate taxes on retail users and also introduce (or re-introduce, to be more precise) the so-called 100% bonus depreciation rule, which will allow Bitcoin mining companies to write off their equipment immediately, potentially allowing them to ramp up operations and increase the network’s hash rate, which has historically been bullish for the price.

BTCUSD_2025-07-03_11-59-05
Source: TradingView

In other BTC-related news, the BlackRock IBIT ETF, which tracks Bitcoin’s price, is now generating more fees than their legendary S&P 500 fund – a clear indication of the pent up demand and the fact that investors are willing to pay premium fees for exposure.

Fartcoin, Bonk Lead Meme Coin Gains

As you can see in the heatmap below, it’s a sea of green in the altcoins market today. Most of them are charting notable increases. Even the large-caps are up a lot – ETH gains 5.8%, DOGE – 7.7%, ADA – 8.5%, HYPE – 5.5%, SUI – 11.6%, and so forth.

But the most impressive gains for the day come from two of the more polarizing meme coins – Fartcoin and Bonk. The latter is today’s best performer, gaining about 20%, while the latter is up by 17%. Right behind them is Celestia (TIA), which gained 16%.

It’s one of those days where the worst-performing cryptocurrencies are stablecoins (ironically, of course), with just Fasttoken (FTN) and Bitcoin Cash (BCH) struggling to gain and trade flat.

crypto_heatmap_03072025
Source: Quantify Crypto
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

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Cryptocurrency

Watch These 3 Ripple (XRP) Price Predictions in July

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TL;DR

  • Analysts see potential for further gains for XRP, with targets ranging from $2.80 to over $3.50 – while some even speculate on a parabolic rally similar to 2017.
  • Despite the bullish outlook, XRP’s Relative Strength Index (RSI) nears 70, signaling potential overbought conditions and raising the chance of a short-term correction before any continued breakout.

What’s Next for XRP?

XRP has followed the overall resurgence of the cryptocurrency market in the last 24 hours, soaring to almost $2.30. Another factor that may have positively impacted its recent price performance is Ripple’s application for a license with the US national bank regulator, the Office of the Comptroller of the Currency (OCC).

According to multiple analysts, its ascent has yet to reach new dimensions. The X user CRYPTOWZRD noted that XRP closed the day “bullish,” setting $2.80 as the next resistance target. 

“The intraday chart was highly volatile and bullish. It is now testing the $2.2550 resistance target. A successful breakout and a close above this level will offer the next long opportunity,” the trader added. 

World of Charts believes an XRP breakout and retest has already been confirmed. The analyst expects a move towards $3 in the coming days, followed by a pump beyond $3.50 sometime this month.

The X user Maxi is even more optimistic. The crypto enthusiast believes XRP could replicate its performance in 2017 when it experienced a staggering 1,200% surge in a matter of days. Nowadays, a spike of that magnitude would drive the token’s valuation to a new all-time high of $30. 

At the moment, such a rally seems quite unrealistic, considering that XRP’s market cap needs to skyrocket above $1.6 trillion. Currently, Bitcoin (BTC) is the only cryptocurrency whose capitalization exceeds that mark, while Ethereum (ETH) is far below with $313 billion.

Observing Some Indicators

Despite the bullish predictions, there are some red flags popping up suggesting the asset could head in the opposite direction in the short term.

The Relative Strength Index, which measures the speed and magnitude of recent price changes, has climbed to almost 70. Such readings generally mean that the valuation has increased too rapidly over a short period of time, signaling that it might be time for a correction.

XRP RSI
XRP RSI, Source: CryptoWaves

If you’re curious about more indicators that could hint at XRP’s next move, check out our in-depth article here.

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