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Crypto

32 million dollars\' worth of stolen Ethereum moves, raising alarm over tracking Drift hack funds

Ethereum stolen in the Drift Protocol hack has started moving again, with about $32 million sent from hacker-controlled wallets to Tornado Cash in a day. Analysts identified transactions linked to an address labelled “Drift Exploiter 5” and estimated broader daily movement as high as 25,700 ETH. The activity follows about two months of inactivity and is described as a second large laundering attempt. Significant ETH is still held in hacker wallets.

Crypto

Asset manager Strive buys an additional 4,045 bitcoins, keeps buying with share funding

Asset manager Strive bought 4,045 bitcoins last week for about $335 million, lifting its total holdings to 36,818 BTC. It said it purchased the coins at an average $82,803 each from Oct. 12 to 16, including fees and expenses. The firm raised about $369 million through warrant exercises and issued 13.7 million common shares. Strive also announced a preferred share offering and its shares rose intraday.

Crypto

Stablecoin market grows to $306 billion, daily payment adoption still a challenge

The tokenised asset market is expanding, but investor demand and liquidity are not keeping pace, speakers at a Connect event in Singapore said. They flagged an imbalance between supply and demand in real-world asset tokenisation and growing fragmentation of liquidity. In stablecoins, they said linking to everyday payments matters more than cross-border transfers, with user experience and regulatory compliance also key. Stablecoin market capitalisation reached $306 billion.