With AI advances, the focus is usually on what’s being launched, whether it’s a new model, a new agent or a new capability.
But this week, the stories feel different.
The shift isn’t about what AI can do next. It’s about how organizations are managing it.
A new pattern is taking shape. As AI adoption accelerates across the enterprise, governance, infrastructure and workforce readiness are struggling to keep up.
That tension is most evident in the growing focus on agentic AI governance. This week, Salesforce and Databricks introduced tools designed to help enterprises manage AI agents. Those releases follow a similar move by AWS, which introduced the Agent Registry platform to bring some structure to how AI agents are built, managed and governed across environments.
As agents spread across systems, they can quickly introduce new layers of complexity affecting security, accountability and oversight. That’s why governance is becoming a prerequisite for scaling AI, not an afterthought.
Related:OpenAI GPT-5.4-Cyber is More Open Than Claude Mythos
OpenAI’s latest updates to its Agents SDK system emphasize secure deployment, signaling that even at the development layer, the focus is shifting toward making these systems more reliable and usable in real-world environments.
The same shift is emerging at the architecture level. The concept of a “context layer” is gaining traction as a way to capture reasoning, business rules and decision logic, the pieces that make AI systems usable in actual enterprise settings, not just technically capable.
At the same time, the infrastructure required to support all of this is expanding at an unprecedented pace. Amazon’s planned $200 billion investment in AI infrastructure reflects a broader move toward building capacity ahead of demand, while Oracle’s partnership with Bloom Energy highlights a growing turn toward on-site power sources as energy constraints become harder to ignore.
On the ground, this is starting to look a lot more structured. Stellantis’ expanded partnership with Microsoft is one example, with the multinational automotive giant working AI into core parts of the business, from sales to engineering.
In the public sector, Dubai’s plan to train 50,000 government employees points to something similar.
At a certain point, scaling AI stops being just a technology problem. It becomes a workforce challenge.
Taken together, these developments point to a broader shift.
AI is moving out of its experimental phase and into an operational phase where success depends less on access to the latest model and more on the ability to govern what’s already in place.
Related:Anthropic Releases Good but not Great Claude Opus 4.7
While this transition may not generate the same level of excitement as a new release, it’s the work that will determine how far and how fast AI actually scales.
Also in AI This Week:
Beyond those shifts, this week’s coverage points to how AI is starting to influence behavior, decision-making and risk across different parts of the business.
Meta’s new ‘AI Zuckerberg’ is a mirror for every C-suite
Meta is reportedly building an AI version of its founder that will act as a “digital proxy,” interacting with employees, answering questions and simulating his presence.
Anthropic releases good but not great Claude Opus 4.7
Anthropic’s latest release, Claude Opus 4.7, improves coding and long-running task performance, while falling short of the more powerful cybersecurity-focused Mythos model.
Exploring the context layer for AI systems
A growing focus on “context layers” highlights the need to capture reasoning, business rules and decision logic to make AI systems more aligned and context aware.
AI spreading at ‘historic speed,’ according to Stanford report
Stanford’s latest AI Index report finds that 53% of the world’s population now uses generative AI, underscoring both its rapid growth and widening gaps between countries.
Related:Stellantis Ramps Up AI Strategy With Microsoft Deal
Starburst intros AI assistant to boost analysis, exploration
Starburst introduced its AI Data Assistant, AIDA, aimed at moving beyond basic text-to-SQL queries by enabling more context-aware data analysis across federated environments.
World, the Sam Altman-backed digital identity project, has unveiled on Friday what it calls its most significant upgrade yet to World ID, positioning the system as “full-stack proof of human” infrastructure aimed at consumers, enterprises and AI agents.
The overhaul, announced at an event in San Francisco, comes as concerns mount across the tech industry over bots, deepfakes and AI agents impersonating humans online, a trend World is explicitly targeting with a broader push into authentication, payments and internet services. Altman’s other major project is OpenAI, the firm behind ChatGPT and tools using the large language model AI platform.
World’s system relies on its custom-built “Orb” devices to establish what it calls proof-of-humanity. To obtain a World ID, users must visit an Orb in person, where the device scans their face and iris to generate a unique cryptographic code representing that individual.
The images are deleted after processing, according to the company, and only anonymized fragments of the code are sent across a distributed network to confirm the person has not previously registered. The result is a credential that can prove someone is a unique human online without revealing their identity or personal data. Some critics, however, have flagged the use of biometric scanning via the Orb as a controversial aspect of the system.
At the core of the update is a redesigned architecture intended to improve privacy, security and usability. New features include account-based identity, multi-key support, recovery mechanisms, which give capabilities typically expected in large-scale security systems.
“World 4.0 is powerful, scalable and open,” senior executive Daniel Shorr said at the event. “In the age of AI, being human will be incredibly valuable and the internet will want to know you’re human,” he added.
The company is also introducing a dedicated World ID app, currently in beta, which will allow users to manage credentials and authenticate across platforms. The app reflects a broader ambition to make proof-of-human identity as seamless as logging into a social media account.
From dating apps to Zoom calls
Alongside the protocol update, World detailed a slate of integrations aimed at embedding its identity layer across consumer platforms.
On the consumer side, the company is expanding partnerships with platforms like Tinder, where users can display a “verified human” badge, and rolling out “Concert Kit,” a tool designed to help artists reserve tickets for verified individuals to combat scalper bots.
Gaming and online communities are another focus, with partnerships involving Razer and Mythical Games, while Reddit has signaled it is exploring similar identity tools for bot detection.
Enterprise use cases are also central to the rollout. World said it is working with Zoom on a feature called “Deep Face,” which verifies that a meeting participant is a real human rather than a deepfake, and with Docusign to incorporate proof-of-human checks into digital agreements.
In addition, World is rolling out new tooling, including “AgentKit,” to allow developers to attach credentials that prove there are humans to agents, which will be needed for sensitive actions and enable agent-based commerce tied to verified individuals.
The company is working with firms including Okta, Vercel and Browserbase on these capabilities, which aim to establish a trust layer for automated workflows without requiring personal data.
‘World ID is on the way to being a real human network for the internet,” said Sam Altman, the co-founder of World, at an event marking the announcement in San Francisco.
Read more: Sam Altman’s World Crypto Project Launches in US With Eye-Scanning Orbs in 6 Cities
At InsurTech NY, Jai Mansukhani, Co-Founder of General Magic laid out the company’s approach to solving one of insurance’s most time-consuming problems: manual customer service and inbound communications.
Mansukhani explained that General Magic is automating these workflows for brokerages that handle personal lines and small business insurance, focusing on helping people save time and reduce the flood of inbound calls.
The core of General Magic’s solution is building AI agents that are deployed on popular digital messaging platforms like iMessage, WhatsApp, and SMS which allow customers to complete all their insurance work, from pre-quote and post-quote engagement to claims coordination, simply over text.
Attending InsurTech NY was a major priority for General Magic to gain exposure, especially as their engineering team is based in Toronto and they plan to open a second office in New York. Mansukhani noted he is particularly focused on observing the rise of AI-native brokerages and carriers and sees this as an interesting trend where companies are trying to ‘rip and replace’ legacy systems or acquire insurance brokerages to fast-track a self-serve insurance approach.
A core focus for General Magic right now is tracking how this infrastructure develops and how receptive carriers are to this AI-driven evolution of the insurance industry.
Bitcoin soared above $76,000, opening the doors for a further rally toward $84,000.
Several major altcoins are showing strength, signaling broad-based buying by the bulls.
Bitcoin (BTC) skyrocketed above the $76,000 resistance on Friday after Iran’s foreign minister said that the Strait of Hormuz will remain open for the remainder of the ceasefire between the US, Israel and Iran.
Another positive sign for the bulls is that BTC’s rise has been supported by solid accumulation by the whales. According to CryptoQuant data, BTC whales holding more than 1,000 BTC have added about 270,000 coins in the past 30 days, the largest buying spree since 2013.
However, some analysts remain skeptical about BTC’s advance. Glassnode said in its latest Week Onchain newsletter that the current recovery has more legs to it, but is likely to face selling pressure at the True Market Mean at $78,100. Buyers will have to sustain the price above $78,100 on a mid-term basis to create a “structural shift toward a bull market.”
Crypto market data daily view. Source: TradingView
Another cautious view came from trading resource Material Indicators. In a video posted on X, Material Indicators said that BTC will have to cross the yearly open at $87,500 and the 50-week moving average near $97,000, and the relative strength index has to close above the 41 level on the weekly time frame to confirm that a bull market has returned.
Could BTC and select major altcoins sustain above their overhead resistance levels? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
Bitcoin price prediction
BTC surged above the $78,000 level on Friday, its highest level in ten weeks, indicating sustained buying by the bulls.
The upsloping 20-day exponential moving average ($72,136) and the RSI near the overbought zone indicate that the bulls are attempting to seize control. A close above the $76,000 level will complete a bullish ascending triangle pattern, opening the door to a rally to $84,000, then to the pattern target of $92,000.
The moving averages are critical support levels to watch on the downside, as a close below them suggests the bears remain in control. The BTC/USDT pair may then tumble toward the triangle’s support line.
Ether price prediction
Sellers attempted to halt the recovery at the $2,415 level in Ether (ETH), but the bulls continued to exert pressure and did not allow the price to dip below the 20-day EMA ($2,235).
If the ETH price closes above the $2,415 resistance level, the recovery may extend to $2,800, then to $3,050. Such a move suggests that the ETH/USDT pair may have bottomed out at $1,748.
This bullish view will be invalidated in the near term if the price turns down sharply and breaks below the moving averages. That suggests the break above the $2,415 level may have been a bull trap. The pair may then decline to the $1,916 level.
XRP price prediction
XRP (XRP) closed above the 50-day simple moving average ($1.38) on Wednesday, indicating that the bears are losing their grip.
The 20-day EMA ($1.37) has started to turn up gradually, and the RSI is in the positive territory, indicating an advantage to the bulls. The XRP price may rally to the downtrend line of the descending channel pattern, which is expected to behave as a formidable hurdle. If buyers clear the hurdle, the XRP/USDT pair will indicate a potential trend change.
The moving averages are the vital support to watch out for on the downside. If the support breaks down, the pair may retest the crucial $1.27 level.
BNB price prediction
BNB (BNB) closed above the 50-day SMA ($626) on Thursday, indicating that the selling pressure is reducing.
If the BNB price remains above the moving averages, the next stop is likely to be the $687 level. Sellers will try to halt the recovery at $687, but if buyers bulldoze their way through, the rally may reach $730 and eventually $790.
On the contrary, if the price turns down from the current level or the overhead resistance and breaks below the moving averages, it signals that the BNB/USDT pair may remain within the $570 to $687 range for a while longer.
Solana price prediction
Solana’s (SOL) close above the moving averages suggests that the bulls are attempting to push the price to the $98 resistance.
Sellers are expected to fiercely defend the $98 level. If the SOL/USDT pair turns down sharply from $98 and breaks below the moving averages, it signals that the consolidation may extend for a few more days.
The first sign of strength on the upside will be a break and close above the $98 resistance. That opens the doors for a rally to the $117 level, where the bears are again expected to step in.
Dogecoin price prediction
Dogecoin (DOGE) turned up from the moving averages on Wednesday and rallied to the $0.10 level on Thursday.
Sellers will strive to halt the recovery at the $0.10 level, but if buyers do not give up much ground from the current level, it increases the possibility of a rally to $0.11 and subsequently to $0.12.
The bears are likely to have other plans. They will attempt to pull the DOGE price back below the moving averages. If they succeed, the DOGE/USDT pair may plummet to the solid support at $0.09.
Hyperliquid price prediction
Sellers are attempting to pull Hyperliquid (HYPE) back below the breakout level of $43.76, but the bulls have held their ground.
If the HYPE price continues higher and breaks above the $46 level, it suggests that the bulls have flipped the $43.76 level into support. That increases the likelihood of a rally to the $50 to $51.43 zone.
Time is running out for the bears. They will have to pull the HYPE/USDT pair below the 20-day EMA ($40.78) to make a comeback. If they manage to do that, the pair may slump to the 50-day SMA ($37.38).
Related: Bitcoin price quietly sets new 10-week high as trader sees $88K in weeks
Cardano price prediction
Cardano (ADA) continued its recovery and is likely to test the resistance at the downtrend line of the descending channel pattern.
Sellers are expected to aggressively defend the downtrend line, but if the bulls prevail, the ADA/USDT pair may climb to $0.32, then to $0.37. Such a move signals a potential short-term trend change.
On the contrary, if the ADA price turns down from the downtrend line and breaks below the moving averages, it suggests the pair may remain within the channel for some time.
Bitcoin Cash price prediction
Bitcoin Cash (BCH) pierced the 20-day EMA ($447) on Thursday, but the relief rally is facing selling at the 50-day SMA ($454).
The 20-day EMA is flattening out, and the RSI is near the midpoint, suggesting that the selling pressure is reducing. If bulls prevent the BCH price from dipping below $443, it could signal a shift in sentiment. That increases the likelihood of a break above the 50-day SMA. If that happens, the BCH/USDT pair may surge to $486, then to $520.
Alternatively, if the price breaks below $443, it signals that the bears remain sellers on rallies. The pair may then plunge toward the solid support at $419.
Chainlink price prediction
Chainlink (LINK) is attempting to break above the $8 to $10 resistance, where bears are expected to mount a strong defense.
If the price turns down from the overhead resistance and breaks below the moving averages, it suggests that the LINK/USDT pair may consolidate inside the range for a few more days.
On the other hand, if the LINK price closes above the $10 level, it indicates that the consolidation has resolved in favor of the bulls. The pair may then rally to the $11.61 level, where the bears are expected to step in. There is resistance at $10.94, but it is likely to be crossed.
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Cardano is already being used by roughly 200 large companies in Germany through agentic AI deployments, even if those firms do not realize the blockchain is sitting underneath their stack, according to Cardano Foundation CEO Frederik Gregaard. The claim, made during an interview with Jane King on GBBC’s Markets on Chain series from the New York Stock Exchange published April 16, points to a version of blockchain adoption that is less visible to end users but potentially more embedded in enterprise infrastructure.
200 German Companies Use Cardano Without Even Knowing It
Gregaard framed the Cardano Foundation’s role as pushing blockchain into systems people use without necessarily recognizing it. “We have about 200 companies in Germany who live on agentic AI, fairly large companies, and they don’t even know they’re using Cardano as a security layer, as a digital identity layer and as an accountability layer,” he said. “Part of when you have, for instance, agentic AI who’s using data from two different databases, [is] ensuring that the agentic AI is who they say they are, that they have the data they claim without disclosing it, because we want privacy.”
That argument was central to Gregaard’s broader pitch: blockchain, in his view, is becoming an underlying trust and coordination layer for AI-driven systems rather than simply a rails story for tokens or payments. He described a model where users could interact with seamless consumer applications while Cardano handles provenance, identity and compliance in the background. The point was less about visible crypto branding than about infrastructure-level deployment.
Payments still featured prominently. Gregaard said AI agents in some of these systems are already transacting using a regulated stablecoin called USDM, with microtransactions used to meter prompt activity and align incentives between participants. “The AIs are actually paying themselves using regulatory compliant stablecoins,” he said. “There’s a microtransaction happening just to do the prompts. And that’s also part of the security layer, which ensures that one database who has more computing power than the other doesn’t do unlimited prompts and can circumvent the security.”
Why Cardano Could Strive In The EU And US
The interview also tied that enterprise and AI narrative to policy. Gregaard said the US stablecoin framework under the GENIUS Act had moved the market closer to Europe’s MiCA regime, but argued the more consequential shift could come from the Clarity Act. He said he expects that legislation, if passed, to unlock materially broader blockchain usage beyond financial applications, adding that “hundreds of companies” are already waiting on that kind of legal certainty. He further claimed that recent regulatory language had made clear that “Cardano is a commodity,” and suggested the US could move faster than Europe on this front.
Alongside adoption, Gregaard leaned heavily on security. He said Cardano’s on-chain governance model and distributed validator base make it harder to compromise through a single point of failure, a contrast with networks he described as effectively controlled by a small number of insiders. He also argued that Cardano is emerging as a “first level quantum secure environment” through its interoperability with legal entity identity standards, which he said is drawing interest from banks, brokers, exchanges and central securities depositories.
At press time, Cardano traded at $0.2566.
ADA hovers below key resistance, 1-monthly chart | Source: ADAUSDT on TradingView.com
Featured image created with DALL.E, chart from TradingView.com
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Have you had “deploy a stablecoin” and “build an AI agent” on your business to-do list since the beginning of the year?
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Representative Sheri Biggs of South Carolina has disclosed a purchase of up to $250,000 in Bitcoin exposure via the iShares Bitcoin Trust (IBIT), marking one of the largest single Bitcoin-related buys by a sitting member of Congress.
The Periodic Transaction Report filed with the House shows a transaction in the $100,001–$250,000 range executed on March 4, 2026 and reported in mid‑April, in line with disclosure deadlines under the STOCK Act.
The trade places Biggs among Congress’s most aggressive adopters of Bitcoin investment products, a cohort that already includes Senator David McCormick and Representative Brandon Gill, who have collectively reported hundreds of thousands of dollars in Bitcoin ETF purchases over the past year.
Biggs has previously been identified by crypto advocacy groups as strongly supportive of digital assets, and her latest filing underscores how lawmakers are increasingly gaining direct financial exposure to the sector they help regulate.
The move comes as BTC trades below recent highs but remains a central focus of Washington’s ongoing debate over digital asset regulation and potential federal Bitcoin reserve policy.
Bitcoin price action
Bitcoin price rose sharply above $77,000 today after Iran announced the Strait of Hormuz had been fully reopened under a ceasefire framework, easing fears of a potential supply shock and triggering a broad risk-on move across global markets.
Iranian Foreign Minister Abbas Araghchi said the key shipping route is open to all commercial vessels for the duration of a 10-day truce tied to de-escalation efforts involving Israel and Hezbollah in Lebanon. The announcement signaled a temporary stabilization in a region that had been on edge for weeks over escalating tensions and threats to energy flows through one of the world’s most critical maritime chokepoints.
President Donald Trump amplified the development on social media, declaring that the “Strait of IRAN is fully open and ready for full passage,” reinforcing expectations that diplomatic momentum could continue. The White House has suggested that broader talks with Tehran remain possible within days, with additional regional meetings under discussion.
Markets reacted quickly. Oil prices fell as the geopolitical risk premium unwound, and equities and crypto moved higher in tandem. BTC pushed back into the $76,000–$78,000 range, a zone that has repeatedly acted as resistance since February’s pullback from earlier highs.
With liquidity thin and positioning crowded, BTC now sits at a key inflection point where continued geopolitical de-escalation could fuel a breakout above resistance, while renewed tensions risk sending price back toward the low-$70,000 range.
Telegram CEO Pavel Durov warned Friday that the European Union’s new age-verification app could become a stepping stone toward broader online identity tracking, days after the European Commission said the system was technically ready for rollout.
In a Telegram post on Friday, Durov cited analysis from security consultant Paul Moore, who said the app is hackable in “under two minutes” after examining its technical design.
“This product will be the catalyst for an enormous breach at some point,” Moore said in an X post on Thursday, adding that the system could be tricked so the age check isn’t properly tied to the actual user or their device.
Durov argued that the security concerns went beyond age checks and could, over time, be used to justify broader identity verification across online services in Europe.
The criticism reflects a wider debate over how age verification is being built into online platforms, as regulators in multiple regions push similar systems, raising concerns over security and digital identity infrastructure.
System promoted as being “completely anonymous”
The European Commission released the first version of its age-verification blueprint in July 2025, with the aim of letting users prove they are over 18 without disclosing other personal information.
The age verification framework was developed as an open-source project designed to preserve privacy and support future interoperability with European Digital Identity Wallets.
Source: Ursula von der Leyen
In a statement on Tuesday, EC President Ursula von der Leyen said the EU’s age verification app is “technically ready,” describing the tool as “completely anonymous” and claiming users can prove their age without revealing personal data or being tracked.
However, after researchers said the system can be bypassed in minutes, it’s unclear whether its privacy and security promises will hold up in real use.
Related: Signal push notifications could present privacy vulnerability, says Durov
According to Durov, the app is “hackable by design,” suggesting it was built in a way that makes it easy to break in practice, which he argues could later be used to justify stronger identity checks.
Source: Pavel Durov
“The EU bureaucrats needed an excuse to silently start turning their ‘privacy-respecting’ age verification app into a surveillance mechanism over all Europeans using social media,” the Telegram CEO said.
Durov has emerged as a major advocate of free speech and digital privacy. He remains under judicial investigation in France over allegations tied to illegal activity facilitated through Telegram, including organized crime, fraud and the platform’s alleged failure to cooperate with authorities.
Magazine: How crypto laws changed in 2025 — and how they’ll change in 2026
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy https://cointelegraph.com/editorial-policy
Crypto-linked stocks surged Friday, led by a sharp rally in beaten-down digital asset treasury firms, as progress toward ending the Iran war jolted risk assets, sending bitcoin BTC$78,172.24 to a two-month high of $78,000.
U.S. President Donald Trump said in a Truth Social post that Iran committed to keeping open the Strait of Hormuz, a key artery for global energy markets.
“Iran has just announced that the Strait… is fully open and ready for full passage,” Trump said in a Truth Social post, adding that peace talks between the countries were progressing. Reports that the U.S. is considering unfreezing $20 billion in Iranian assets and Trump’s remarks about acquiring Iran’s enriched uranium further boosted sentiment.
As the headlines helped calm fears of a prolonged energy shock, crude oil tanked 13% to near $80 per barrel.
Risk-on signal
“The reopening of the Strait of Hormuz is the risk-on signal the global markets have been waiting for,” said Matt Mena, senior crypto research strategist at digital 21shares.
“By removing one of the most significant geopolitical chokepoints in the world, Iran has effectively uncorked a massive wave of liquidity and investor confidence,” he added. “With oil nose diving below $85 for the first time in a month, inflation fears may finally come to an end.”
Bitcoin BTC$78,172.24 climbed to $78,000, breaking out from a two-month range that capped prices since early February and up nearly 5% over the past 24 hours.
The move rippled across the broader cryptocurrency prices higher, with major altcoins ether (ETH), Solana (SOL) and XRP (XRP) posting 4%-5% gains.
Looking at crypto-related equities, the biggest winners were crypto treasury firms — companies that hold digital assets on their balance sheets — which had been heavily battered in recent months.
Trump-family-backed American Bitcoin (ABTC) jumped more than 21%, while Strategy (MSTR) surged 13%. Strive (ASST) and ProCap (BRR) added around 10%-11% as investors rotated back into high-beta bitcoin exposure.
Similar moves played out across altcoin-linked equities. Forum Markets (FRMM), an Ethereum-focused treasury firm that pivoted to tokenization, climbed 19%, while Solana-linked names like Solmate (SLMT) and Upexi (UPXI) gained 12%-11%.
Other digital asset-related stocks also advanced: Coinbase (COIN) rose more than 6%, Galaxy (GLXY) gained 8%, and Bullish (BLSH) rose 4.5%.
Just after the noon hour on the East Coast, the Nasdaq and S&P 500 were each higher by about 1.4%, both jumping to new record levels.
Stablecoin issuer Tether, the company behind USDt (USDT), said Thursday it will back a $150 million recovery program for the Drift Protocol decentralized exchange (DEX) following an exploit of the platform in April.
The recovery plan for the $280 million Drift Protocol exploit includes $127.5 million from Tether, with the rest coming from undisclosed partners, according to Tether’s announcement. Tether said:
“Rather than relying on upfront capital alone, the structure links funding and recovery to ongoing trading activity on the Drift platform, allowing user balances to be restored as the exchange returns to normal operations.”
The Drift Protocol platform will “contribute directly” to the ongoing recovery of user funds as the platform resumes normal trading activity.
The top 10 crypto assets stolen from the Drift Protocol in the exploit. Source: Quill Audits
Drift will also transition its settlement asset from Circle’s USDC (USDC) dollar-pegged stablecoin to Tether’s USDt as part of the platform’s relaunch.
Cointelegraph reached out to Tether but did not receive a response by the time of publication.
The recovery program highlights a growing trend of crypto industry companies collaborating to restore user funds and help platforms resume normal operations after major hacks or cybersecurity attacks that cause hundreds of millions of dollars in losses.
Related: Drift sends onchain message to wallets tied to $280M exploit
Circle comes under fire for not freezing funds after Drift Protocol attack
Crypto industry executives, cybersecurity researchers and blockchain security firms criticized Circle for not freezing the USDC wallets linked to the Drift Protocol exploiter, despite having a window of several hours to intervene.
The exploiter used Circle’s Cross-Chain Transfer Protocol (CCTP), a native bridge that allows tokens to be transferred to other blockchain networks, to transfer over $232 million USDC from the Solana network to the Ethereum network, according to onchain sleuth ZachXBT.
Source: ZachXBT
The funds were transferred in more than 100 transactions, he said, adding, “Despite the attacker laundering funds over six consecutive hours across Circle’s own native bridge, no USDC was frozen. The attacker has been linked to North Korea by Elliptic.”
Circle’s stock sank by about 10% on April 9, following criticism over the company’s failure to freeze the funds from the hack and downgraded forecasts from market analysts. The NYSE-traded shares have since clawed back that decline, increasing about 20% as of yesterday’s close, according to Yahoo Finance data.
Magazine: Are DeFi devs liable for the illegal activity of others on their platforms?
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy https://cointelegraph.com/editorial-policy
