The USX stablecoin on the Solana blockchain suffered a catastrophic loss of its dollar peg on December 26, collapsing to a mere $0.10 on secondary markets in one of the most extreme depegging events of 2025. While developer Solstice orchestrated a rapid recovery, the incident starkly exposes the persistent fragility of stablecoin market structures, even when underlying collateral remains sound. This liquidity-driven crash serves as a sobering reminder of the systemic vulnerabilities that continue to plague the cryptocurrency sector.
about Solana Stablecoin USX Crashes to $0.10 in Liquidity-Driven DepegKain Warwick
0 posts last weekPhone Passkeys vs Hardware Wallets: Crypto Security Debate
A new browser extension from Infinex allows crypto users to access top sites using phone biometrics instead of traditional hardware wallets. While offering superior convenience for newcomers, security experts question whether phone-based authentication can match the ironclad protection of dedicated hardware devices. The debate highlights the ongoing tension between usability and security in the cryptocurrency space.
about Phone Passkeys vs Hardware Wallets: Crypto Security DebateRug Radio Shines at Token2049 with CZ Interview & R HAUS Event
Rug Radio took center stage at Token2049 in Dubai, hosting a series of high-profile events and interviews. Founder Farokh Sarmad secured an exclusive sit-down with former Binance CEO Changpeng Zhao, discussing his prison experience and crypto industry insights. The highlight was the R HAUS event at Aura Skypool, featuring sponsors like Near Protocol and Infinex, which showcased its new cross-chain UX platform. Near’s Illia Polosukhin shared visions of an AI-powered future without traditional apps, while BitGPT introduced payment protocols for AI agents. Amidst Dubai’s skyline, attendees enjoyed networking, NFC-equipped merchandise, and a vibrant atmosphere that solidified Rug Radio’s position as a leading crypto media platform.
about Rug Radio Shines at Token2049 with CZ Interview & R HAUS EventTrump’s Crypto Dinner: TRUMP Token Dumps Amid Protests
On May 22, former US President Donald Trump hosted a high-profile dinner for the top 220 holders of the TRUMP memecoin, with VIP access granted to the 25 largest investors. Attendees, including Justin Sun and other crypto leaders, collectively held $394 million in TRUMP tokens before the event. Despite the glitz, the token’s price dropped 7% post-dinner, with nearly half the attendees selling their holdings. Critics, including Senator Chris Murphy, condemned the event as corrupt, accusing Trump of offering secret access in exchange for crypto investments. The controversy highlights the intersection of politics and speculative crypto assets.
about Trump's Crypto Dinner: TRUMP Token Dumps Amid ProtestsTrump Hosts Exclusive Dinner for Top TRUMP Meme Coin Holders
Donald Trump is fulfilling a promise to the crypto community by hosting a gala dinner for the top 220 holders of his meme coin, TRUMP, at Trump National Golf Club in Virginia. Attendees, determined by their TRUMP holdings between April 23 and May 12, include high-profile figures like Justin Sun and representatives from MemeCore and Infinex. The event has drawn criticism, with protests planned by groups like Public Citizen. Meanwhile, TRUMP’s price surged 23% ahead of the dinner but remains far below its all-time high. The gathering highlights Trump’s continued engagement with crypto despite regulatory and political scrutiny.
about Trump Hosts Exclusive Dinner for Top TRUMP Meme Coin HoldersTrump’s Memecoin Dinner: Crypto Meets Politics
On May 22, US President Donald Trump will host a private dinner in Washington, DC, for the largest holders of his TRUMP memecoin. Reports indicate that over half of the 220 qualifying wallets may belong to foreign nationals, adding a geopolitical dimension to the event. Attendees, including notable figures like Synthetix founder Kain Warwick, underwent background checks for the VIP tour, presumed to be at the White House. The event highlights the growing intersection of cryptocurrency and political engagement, with some participants claiming their involvement is apolitical despite the overtly partisan branding of the token.
about Trump's Memecoin Dinner: Crypto Meets PoliticsEthereum Foundation Overhauls Leadership Amid ETH Price Slump
The Ethereum Foundation has announced a major leadership overhaul, separating the roles of its board and management team to strengthen governance amid Ether’s price struggles. The board, including Vitalik Buterin and Aya Miyaguchi, will set the vision, while new co-executive directors Hsiao-Wei Wang and Tomasz K. Stańczak will handle strategic execution. The foundation outlined three key focus areas for the next year: scaling Ethereum’s layer 1, improving layer 2 solutions, and enhancing user experience. This restructuring follows criticism of the foundation’s perceived lack of engagement in DeFi innovation and ETH’s underperformance relative to competitors like Bitcoin and Solana. The changes aim to address these concerns while advancing Ethereum’s core principles of open-source development and security.
about Ethereum Foundation Overhauls Leadership Amid ETH Price SlumpUpbit, Bithumb Suspend SNX Deposits Over Stablecoin Risks
Upbit and Bithumb suspended deposits of Synthetix’s SNX token after the Digital Asset eXchange Alliance (DAXA) flagged it as a ‘trade warning commodity.’ The decision stems from sUSD’s failure to maintain its dollar peg, dropping to $0.68 in April 2025. Upbit cited the Virtual Asset User Protection Act, noting SNX’s collateral role exacerbates investor risk. An observation period until May will determine if trading resumes or support is withdrawn. SNX has lost 25% of its value in a month, dipping another 5% post-announcement. Synthetix’s founder urged stakers to adopt a new mechanism to stabilize sUSD, warning of stricter measures if participation lags. The exchanges emphasized investor protection, with final decisions pending review.
about Upbit, Bithumb Suspend SNX Deposits Over Stablecoin RisksSouth Korea Flags SNX as Risky Amid sUSD Depegging Crisis
South Korean regulators and exchanges are taking action against Synthetix (SNX) after its stablecoin, sUSD, failed to maintain its dollar peg. DAXA, a self-regulatory body, designated SNX as a cautionary asset, prompting major exchanges like Upbit and Bithumb to block deposits and add warning labels. The sUSD stablecoin plunged to $0.68, with SNX dropping 26% in a month, drawing comparisons to TerraUSD’s collapse. Synthetix founder Kain Warwick warned stakers to adopt a new mechanism to stabilize sUSD, which saw a partial recovery to $0.87 but remains below its peg.
about South Korea Flags SNX as Risky Amid sUSD Depegging CrisisSynthetix’s sUSD Stablecoin Plunges 30% Below Peg
Synthetix’s sUSD stablecoin has dropped to $0.66, marking a 30% depegging from its intended $1 value, amid ongoing instability linked to the SIP-420 upgrade in March. The update shifted debt management to a shared pool, reducing collateralization from 750% to 200% and weakening peg-support mechanisms. Analysts like Mrinal Thakur highlight thin liquidity and outsized price swings, while founder Kain Warwick remains optimistic, calling the situation temporary. Short-term fixes include Curve pool incentives, with long-term plans to manage sUSD supply directly. Despite a partial recovery to $0.83, volatility persists, with Synthetix’s $30M treasury offering limited reassurance.
about Synthetix's sUSD Stablecoin Plunges 30% Below PegsUSD Loses Peg Amid Synthetix V3 Transition
Synthetix’s sUSD stablecoin recently depegged, falling to $0.85 as the protocol transitions to its V3 system, which alters debt management mechanisms. Founder Kain Warwick clarified that sUSD remains collateralized by assets like ETH and SNX, unlike algorithmic stablecoins. To restore stability, Synthetix extended an incentive program on Infinex, offering 16,000 OP tokens weekly to sUSD depositors. Meanwhile, SNX’s price rose slightly, reflecting continued investor confidence. The team also launched ‘Synthetix Accounts,’ a gas-free smart wallet aimed at simplifying DeFi access.
about sUSD Loses Peg Amid Synthetix V3 TransitionTariff Turmoil Triggers Over One Billion in Cryptocurrency Liquidations
Cryptocurrency derivatives traders faced over $1 billion in liquidations amid fears of a trade war following President Trump’s 25% tariffs on Canada and Mexico. Long positions were hit hardest, with Bitcoin dropping to around $82,000 after peaking at $93,000 just days prior. The turmoil has overshadowed previous gains attributed to optimistic developments in the crypto sector, signaling that macroeconomic factors may outweigh bullish trends.
about Tariff Turmoil Triggers Over One Billion in Cryptocurrency Liquidations