This Week in Crypto: AWS Outage Affects Binance and Other Services, Hyperliquid Dominates Derivatives Market, and More
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AWS Outage Affects Binance, KuCoin, and Others
A major outage at AWS has caused disruptions for crypto platforms Binance, KuCoin, Rabby, DeBank, highlighting their critical dependence on centralized cloud infrastructures.
This incident has temporarily interrupted withdrawals and revealed the vulnerabilities of a crypto ecosystem built on the promise of decentralization.
It also brings to light the urgent need for decentralized alternatives to the cloud, such as Filecoin, Akash Network, and Storj, to strengthen the resilience and true independence of the crypto sector.
Hyperliquid Dominates On-Chain Derivatives Market
Hyperliquid emerges as the undisputed leader in decentralized crypto derivatives, capturing nearly 70% of the on-chain perpetual contracts market.
With a monthly trading volume of $175 billion and a non-custodial model based on smart contracts, Hyperliquid is attracting active traders seeking performance, security, and transparency.
Its rapid growth reflects a marked shift towards decentralized alternatives, signifying a new era for decentralized finance.
White House Considers Financing Bitcoin Reserve
The Trump administration is exploring various options to establish a strategic Bitcoin reserve without using public funds.
Potential options include the reevaluation of underpriced gold certificates held by the US Treasury and the use of customs revenues.
However, concerns about conflicts of interest related to the TRUMP memecoin and the delayed audit of the government’s Bitcoin holdings persist.
China Faces Dilemma with Seized BTC
Despite the official ban on cryptocurrencies, China secretly sells seized BTC through private companies operating abroad in order to address local budget deficits.
Jurists and economists call for clear regulation or the creation of a sovereign Bitcoin fund to regulate and leverage this digital wealth.
OM Plunges 90%: Mantra Announces Massive Burn
The token OM from the Mantra protocol, which specializes in tokenized real-world assets, has experienced a drastic 90% drop in value.
To restore credibility, the CEO announced a massive burn, including his own tokens. However, suspicions of opaque governance and past OTC sales remain.
Powell Opens Door to Looser Crypto Banking Rules
Jerome Powell, Chair of the Federal Reserve, suggests loosening banking rules on cryptocurrencies to strike a balance between innovation and financial stability.
This move comes in a pro-crypto political climate and allows banks to access crypto opportunities while ensuring consumer protection.
Other News
- DWF Labs invests $25 million in World Liberty via WLFI
- Kraken trims staff ahead of IPO
- Babylon TVL drops by 32% after $1.2 billion BTC withdrawal
