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Sui Restarts After Back-to-Back Mainnet Halts Tied to Software Bug

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Sui Restarts After Back-to-Back Mainnet Halts Tied to Software Bug

The Layer 1 blockchain blamed two stoppages in as many days on its 1.72 upgrade and said validators have now deployed a permanent fix. SUI slid about 15% in the past seven days.

Sui, the 31st-largest cryptocurrency by market value, said its mainnet is processing transactions again after two halts in two days knocked the Layer 1 blockchain offline, with validators rolling out what the team described as a long-term fix.

Activity resumed and transactions are “flowing normally,” Sui said in a post on X on Friday. The first stall, on Thursday, lasted close to six hours, according to the network’s status page. A second halt hit Friday morning after an interim patch relapsed. SUI fell roughly 5% over the past 24 hours to around $0.92, according to data from CoinGecko.

The repeated downtime cuts against Sui’s pitch as a high-speed network built to handle financial transactions at scale. It marks the chain’s second major outage of 2026 and renews questions about reliability that have dogged faster Layer 1s, most notably Solana, which suffered a string of stoppages in earlier years.

Bug Froze Blocks

Sui traced both incidents to the interaction between its 1.72 release, which introduced a feature called Address Balances, and the network’s gas-charging logic, the code that meters transaction fees. A crash bug in that logic froze block production and checkpoint updates, halting transactions across the chain.

The bug surfaced first on Thursday. Validators deployed an interim fix to bring the network back, but Sui said the patch “had a known issue with a low probability of causing a halt.” On Friday morning, the network hit a variant of that issue and stalled again.

No Funds Lost

Sui said validators have since implemented a long-term solution that fully addresses the underlying bug, and that the network is operating normally.

No user funds were lost in either incident, and certified transactions were not rolled back, according to the network. Public access points that let wallets and applications read the chain stayed online during the outages, so users could still view balances even as transfers were frozen. Several apps on Sui, including lending protocols, paused deposits and withdrawals as a precaution.

Downtime Pattern

Sui launched its mainnet in May 2023, developed by Mysten Labs, a company founded by former Meta engineers who worked on the Diem blockchain project. The network is designed for subsecond finality and low fees.

It has stalled before. The chain went offline for about six hours in January and for roughly two and a half hours in November 2024, when validators were caught in a crash loop.

The outages land during a stretch of expansion for the ecosystem. Sui’s total value locked hit a record $2.6 billion in October, and the chain recently added USDsui, a native stablecoin issued by Stripe subsidiary Bridge.

What’s Next

Sui said a detailed incident review is forthcoming. Validators on the mainnet were still listed as operating under degraded performance after the restart, according to the network’s status page.

Bitcoin Loses Global Top 10 Asset Spot as Market Cap Falls to $1.48T

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Bitcoin Loses Global Top 10 Asset Spot as Market Cap Falls to $1.48T

Bitcoin’s (BTC) latest drawdown to $72,000 has coincided with a sharp drop in its market capitalization, pushing it out of the global top 10 assets by market cap.

Key takeaways:

  • Bitcoin fell to 13th place among global assets after its market cap dropped below $1.5 trillion.
  • Gold, silver and AI stocks outperformed Bitcoin after investors rotated.
  • Bitcoin’s pending realized price death cross could signal further downside risk for BTC price.

Bitcoin’s market cap drops below $1.5 trillion

Bitcoin’s price has dropped sharply from around $83,000 in early May to as low as $72,400 on Thursday. This was accompanied by a fall in its market capitalization to $1.45 trillion from $1.66 trillion.

Bitcoin market cap, USD. Source: Cointelegraph/TradingView

As a result, the leading cryptocurrency has slipped out of the world’s top 10 assets by market cap, ranking thirteenth globally. 

Related: Bitcoin’s major holders halt buys as demand slows: CryptoQuant

Bitcoin is now below Saudi Aramco, Tesla and Meta Platforms, reflecting a broader rotation of capital away from crypto amid strong performance in AI-driven stocks and precious metals.

Top global assets by market cap. Source: Companiesmarketcap.com

The recent BTC price decline comes amid fresh geopolitical tensions and growing macroeconomic uncertainties, coinciding with a rally in precious metals to historical highs, showing increasing demand for traditional safe-haven assets.

Gold surged to an all-time high of $5,600 per ounce in January before easing back to around $4,486, while silver climbed as high as $120 per ounce and now trades near $76. 

These rallies in metals pushed gold and silver to become the world’s largest and fifth-largest assets by market cap, respectively, as shown in the table above.

Artificial intelligence and semiconductor stocks have also significantly outperformed Bitcoin in 2026, with companies such as Taiwan Semiconductor Manufacturing Company (TSMC) and Broadcom (AVGO) overtaking BTC in market cap. 

Meanwhile, Micron Technology recently crossed the $1 trillion valuation mark amid the ongoing AI and semiconductor-driven rally.

“Things are starting to look scary,” 0xMarioNawfal said in a Thursday X post, referring to Bitcoin’s current position in global rankings.

Fellow analyst Manly had a contrary view, saying that the drop doesn’t change Bitcoin’s scarcity as a long-term bullish factor, while  Fexir said,

“This must be a bottom signal.”

Bitcoin’s “death cross” warns of more pain ahead

Bitcoin’s realized price, average cost basis of all coins in circulation, is about to print a “death cross,”  indicating waning momentum, according to analyst Axel Adler Jr.

The chart below shows that Bitcoin is showing signs of exhaustion with a pending dead cross between its realized price and the 365-day moving average. 

The last time the indicator produced this bearish crossover was in the middle of the 2022 bear market, preceding a 52% decline to $15,500 from $69,000. The losses were also 52% during the 2018 macro drawdown.

Bitcoin realized price with a pending “death cross.” Source: AxelAdlerJr

Note that in both instances, the crossover followed a sharp drop in BTC price toward the realized price. 

Bitcoin is currently trading 35% above its realized price at $54,200. This means a 52% drop from around this level could take BTC price to the low $30,000s, an occurrence that many analysts argue is unlikely.

JP Morgan’s Dimon escalates battle over stablecoin rewards in CLARITY Act debate

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JP Morgan’s Dimon escalates battle over stablecoin rewards in CLARITY Act debate

JPMorgan Chase CEO Jamie Dimon on Friday yet again sharply criticized Coinbase CEO Brian Armstrong and warned that the latest version of the Clarity Act could ultimately fail if lawmakers do not address concerns from traditional banks over stablecoin regulation.

In an interview with Maria Bartiromo on Fox Business, Dimon appeared frustrated by the direction of the debate around stablecoins and digital asset legislation. Asked whether he was satisfied with the current draft of the Digital Asset Market Clarity Act, the crypto market structure bill that will formalize rules around how federal securities and commodities regulators oversee crypto, Dimon said he was not.

“No, because it allows them to effectively pay interest on deposits, stablecoins or something like that, without protection that they should have,” Dimon said. “The banks will not accept it that way. … I’m not worried about stablecoins but if it happened I’m telling you I will have nothing to do with it and it will eventually blow up.”

The comments come amid a growing divide between the banking industry and crypto firms as lawmakers prepare for a key markup process that will determine whether the Clarity Act can advance through Congress. Lawmakers are expected to continue negotiating provisions governing stablecoin issuers, consumer protections, reserve requirements and whether crypto companies should be permitted to offer yield-bearing products that resemble traditional bank accounts.

For the legislation to ultimately become law, it must clear the full Senate and House of Representatives, and be signed by President Donald Trump. The Senate Banking Committee advanced its version of the bill through a markup earlier this month, and the Senate Agriculture Committee advanced its own version earlier this year. At the moment, representatives from the two committees are merging the bills, a key step before the full Senate can take a look.

At the center of the dispute which dragged out the Banking Committee’s process is the question of stablecoin rewards. Armstrong and Coinbase have argued that traditional banks are pushing lawmakers to curb stablecoin rewards programs, which function similarly to high-yield interest accounts and could threaten banks’ deposit-based business models. Banking executives, meanwhile, contend that firms offering bank-like products should face comparable oversight and regulatory obligations.

The disagreement has become one of the primary reasons the legislation has stalled in Washington and failed to gain sufficient momentum earlier this year, despite broad bipartisan interest in creating a regulatory framework for digital assets.

Tensions between Armstrong and Wall Street executives have been building for months. During meetings at the World Economic Forum in Davos earlier this year, Dimon told Armstrong, “You are full of s—,” according to people familiar with the exchange who spoke with The Wall Street Journal.

Bank of America CEO Brian Moynihan reportedly dismissed Armstrong’s arguments, telling him, “If you want to be a bank, just be a bank.” Wells Fargo CEO Charlie Scharf declined to engage, while Citigroup CEO Jane Fraser spent less than a minute with him, according to that prior reporting.

Coinbase and JPMorgan did not respond to requests for comment in time for publication.

Bitcoin Approaches ‘Crucial’ Reversal Zone as $72K Gets Closer

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Bitcoin Approaches ‘Crucial’ Reversal Zone as $72K Gets Closer

Bitcoin (BTC) deepened six-week lows at Friday’s Wall Street open as US stock markets diverged to all-time highs.

Key points:

  • Bitcoin sinks closer to $72,000 as analysis eyes “crucial” BTC price levels.
  • US-Iran ceasefire talks send stocks to even higher records as the crypto divergence continues.
  • Bitcoin’s 100-day moving average gains significance as a battleground for bulls.

BTC price analysis sees “crucial” range now in play

Data from TradingView showed BTC/USD dropping to $72,395 on Bitstamp to start the US TradFi trading session.

BTC/USD one-day chart. Source: Cointelegraph/TradingView

Continuing a losing streak from recent weeks, the pair again saw downside pressure, even as stocks surged further into price discovery.

The S&P 500 started Friday with new record highs, while the Dow Jones Industrial Average did likewise.

S&P 500 vs. Dow Jones one-hour chart. Source: Cointelegraph/TradingView

Anticipation of a lasting ceasefire between the US and Iran drove the momentum, even as military strikes continued.

Commenting, trader and analyst Michaël van de Poppe argued that geopolitical changes could still save the Bitcoin price trend.

“Bitcoin is about to collapse to lows, if this level of support doesn’t hold. That’s just the reality,” he wrote in a post on X. 

“Anything between $72,000-74,000 is crucial and could be the end of the correction, especially if Trump comes with a new deal –> rates go down –> oil goes down –> risk-on assets (especially crypto) go higher.”

BTC/USDT one-day chart. Source: Michaël van de Poppe/X

Van de Poppe suggested that $77,000 was the line in the sand to start the “next leg upwards.”

“If that doesn’t happen, then we’re about to witness another leg towards the lows and probably new lows on the altcoin markets,” he added.

Weekly close tipped to see extra volatility

Continuing the general sense of caution among Bitcoin market participants, trading account CGT Trader warned that BTC long positions could face liquidation next.

Related: Bitcoin bids farewell to CME futures gaps with $67K still on radar

“Long squeeze loading …. Price continues to range while funding stays heavily positive and open interest keeps declining. That usually suggests the market is still leaning aggressively long, even as some participants are already closing positions and derisking,” an X post read. 

“At the same time, spot volume continues to fade, which points toward underlying weakness. Given these conditions, a long squeeze looks increasingly likely.”

Binance BTC/USDT futures order-book data. Source: CGT Trader/X

Data from CoinGlass showed the total 24-hour cross-crypto liquidations passing $200 million at the time of writing.

Crypto liquidation history (screenshot). Source: CoinGlass

Looking ahead, trading resource Material Indicators told followers to “expect volatility” on Bitcoin as Sunday’s joint daily, weekly and monthly close approached.

“We have a cluster of liquidations around $76k and a developing H & S pattern that could take price down to the Q2 Timescape R/S Levels in the$68k – $69k range,” it noted, referring to data from its proprietary trading tools. 

“The big tells will be whether bulls can rally from the 100 DMA, and how Weekly RSI is trending after the W close.”

BTC/USD one-hour chart with 100-day SMA. Source: Cointelegraph/TradingView

Material Indicators referenced the 100-day simple moving average, currently at $72,972.

The U.S. Has Seized $1 Billion Of Iran’s Crypto: Treasury

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The U.S. Has Seized $1 Billion Of Iran’s Crypto: Treasury

Speaking at the Reagan National Economic Forum, Treasury Secretary Scott Bessent revealed that the U.S. has seized roughly $1 billion in Iran-linked cryptocurrency as part of a broader campaign to choke off Tehran’s financial networks.

The disclosures come amid one of the most intense military confrontations the Middle East has seen in decades.

On February 27, 2026, the U.S. and Israel launched Operation Epic Fury — a coordinated airstrike campaign targeting Iran’s nuclear facilities, military infrastructure, and Revolutionary Guard command centers. 

Iran retaliated with ballistic missile strikes across the region, hitting Saudi Arabia, Bahrain, Qatar, the UAE, and Iraq. A fragile ceasefire was brokered in early April and is still in the works, but the economic war never stopped.

Enter Operation Economic Fury. Ordered by President Trump and executed by the Treasury Department, the campaign is designed to systematically dismantle every financial lifeline Tehran has left. 

Since its launch, OFAC has sanctioned over 1,000 Iran-linked entities, frozen bank accounts held by Revolutionary Guard-affiliated businesses, and — according to Bessent — reached directly into crypto wallets. 

The largest single action came in late April, when Tether confirmed it froze $344 million in USDT across two Tron blockchain addresses linked to the IRGC, after blockchain analytics firm Chainalysis identified on-chain patterns consistent with known Iranian military wallets. One wallet held roughly $213 million; the other, $131 million.

The total seizure figure has since climbed past $500 million — and Bessent’s most recent comments suggest the running total is approaching $1 billion.

“We will track the funds that Tehran is urgently attempting to transfer abroad and target all financial avenues linked to the regime,” Bessent said.