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Tether invests $100 million in U.S.-regulated crypto bank Anchorage

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Tether scales back $20 billion funding ambitions after investor resistance: FT

Tether, the company behind the world’s largest stablecoin USDT said it has invested $100 million in Anchorage Digital, a federally regulated digital asset bank.

Anchorage, which holds a national banking charter in the U.S., offers custody, staking, settlement and stablecoin issuance services to institutional clients.

The two companies already had a working relationship, with Anchorage serving as the banking partner behind Tether’s USAT stablecoin, designed specifically for the U.S. market to comply with local regulations.

The investment gives Tether a foothold in the fast-growing U.S. stablecoin infrastructure, which is moving towards regulated players after the GENIUS Act was written into law last year. Tether, headquartered and regulated in El Salvador, traditionally focuses on offshore users and emerging markets with its $185 billion USDT token.

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“Tether exists to challenge the status quo and build global infrastructure for freedom,” said Paolo Ardoino, CEO of Tether, said in a statement. “Our investment in Anchorage Digital reflects a shared belief in the importance of secure, transparent, and resilient financial systems.”

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A $293 Million Hack Wiped $8 Billion From Aave Crypto TVL: Is the DeFi Protocol in Crisis?

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A $293 Million Hack Wiped $8 Billion From Aave Crypto TVL: Is the DeFi Protocol in Crisis?

Aave crypto is bleeding. The DeFi lending giant has shed nearly 21% over seven days, with AAVE trading around $90–$91 after a weekend that exposed just how quickly contagion spreads through interconnected DeFi protocols.

Volume spiked 50.20% to $539.45M in 24 hours, but that’s panic volume, not accumulation. Whether this selloff represents a buying opportunity or the start of a deeper unwind depends entirely on what happens next with protocol confidence.

The incident that triggered the collapse began Saturday when hackers drained 116,500 rsETH tokens worth approximately $293 million from Kelp DAO’s LayerZero-powered bridge.

The stolen funds were posted as collateral on Aave v3 to borrow wrapped Ether, leaving roughly $195 million in bad debt on the protocol.

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Crypto analytics platform Lookonchain flagged the largest withdrawals: MEXC pulled $431 million, Abraxas Capital followed at $392 million.

AAVE Total value locked / Source: DefiLlama

Aave’s total value locked collapsed from $26.4 billion to $17.94 billion, stripping it of the top DeFi protocol ranking it held going into the weekend. Curve Finance, Ethena, and BitGo’s Wrapped Bitcoin all paused LayerZero bridge usage as a precaution.

The broader macro environment for crypto was already fragile. Now AAVE faces a protocol-specific credibility crisis layered on top of market-wide pressure — a combination that rarely resolves quickly.

Discover: The best pre-launch token sales

Can AAVE Crypto Price Recover to $120 This Week?

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The honest answer: not easily. AAVE sits near $91 on major exchanges, down roughly 6% on Kraken in 24 hours and over 20% on the week, a significant deviation from the broader market’s comparatively mild -0.50% seven-day performance.

The all-time high of $661.69 feels like a different asset entirely from this distance (54% drawdown at current levels).

Volume surging alongside price decline is a classic distribution signal. It suggests sellers are finding liquidity into any bounce rather than buyers absorbing the dip with conviction.

The $90–$92 zone is acting as immediate support; a clean break below $89, which AAVE crypto briefly touched during the initial panic, opens the door toward the $78–$80 range where structural demand last materialized.

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Source: Tradingview

More realistically though, it usually takes time to rebuild trust after something like this, so price likely sits between $88 and $100 while the market processes the damage and watches how users react, which keeps any recovery slow and capped.

The real risk is if capital keeps leaving, because if TVL drops under $15B and withdrawals continue, that pressure shows up directly in price, and once $85 breaks, the structure weakens fast and opens the door toward $70.

Discover: The best crypto to diversify your portfolio with

Maxi Doge Eyes Early-Mover Upside as AAVE Absorbs Protocol Shock

Watching an established DeFi blue chip shed $8 billion in TVL over a weekend raises a reasonable question: when protocol risk can wipe out gains this fast, where does smart money rotate for asymmetric upside? The answer, increasingly, is early-stage presales, where market cap is microscopic, and the exploit risk of a $26B lending protocol simply doesn’t apply.

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Maxi Doge ($MAXI) is one of the more unconventional entries in the current presale cycle — a meme token built on Ethereum that leans hard into the 1000x leverage trading mentality through what it calls “Lever King Culture.”

The project has raised $4,745,091.23 at a current presale price of $0.0002814, with dynamic staking APY available to participants.

Features include holder-only trading competitions with leaderboard rewards and a Maxi Fund treasury allocated to liquidity and partnerships.

The gym-bro branding is deliberate, viral meme marketing has driven outsized returns in this cycle before (Dogecoin, Shiba Inu, and their descendants all started somewhere).

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Risk is real: meme tokens are high-volatility, high-failure-rate instruments. DYOR is not optional here. For those with risk appetite suited to early-stage exposure, research Maxi Doge before the presale window closes.

The post A $293 Million Hack Wiped $8 Billion From Aave Crypto TVL: Is the DeFi Protocol in Crisis? appeared first on Cryptonews.

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ZachXBT Flags Holder Concentration Concerns Tied to MemeCore

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ZachXBT Flags Holder Concentration Concerns Tied to MemeCore

Onchain investigator ZachXBT publicly challenged MemeCore on Monday to justify the valuation and supply distribution of its M token, asking the project to explain its market cap and why “insiders hold >90% of supply.”

“Please provide a single data point to support your $6B mkt cap at a top 20 token and why insiders hold >90% of supply,” wrote ZachXBT in a Monday X response to Memecore, a project advertising itself as the layer–1 blockchain for the “Meme 2.0 economy.”

The comments add fresh scrutiny to MemeCore after a sharp rally, though live valuation metrics differed across major trackers. CoinMarketCap ranked the token No. 21 at about $4.33 billion on Monday, while CoinGecko ranked it No. 20 at about $5.97 billion.

The second-largest holder, wallet “0x8b8,” held 50 million M tokens currently worth $178 million, representing 21.77% of the supply, according to blockchain data visualization platform Bubblemaps, which listed the Binance Deposit address as the largest holder with 41.3% of the supply.

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However, the token holdings don’t necessarily point to coordinated activity, according to Bubblemaps blockchain data analyst 0xToolman, who told Cointelegraph that the “pattern looks like team holdings,” which may not be in circulation yet.

M token, top 250 holders by amount. Source: Bubblemaps

Cointelegraph has contacted MemeCore for comment on the matter and details surrounding the token’s distribution.

ZachXBT has not posted definitive blockchain data proving that 90% of the supply is held by insiders, but pledged to investigate the token after the recent meltdown of the Rave DAO (RAVE) token sent shockwaves across the industry.

Related: Suspected insider wallets rack up $1.2M betting on ZachXBT’s Axiom exposé

RAVE token’s 90% meltdown sparks insider concerns

On Saturday, ZachXBT accused RaveDAO of orchestrating a pump-and-dump scheme, citing concentrated token holdings and suspicious exchange flows, after the RAVE token soared from $0.25 to nearly $28 within days before crashing over 80%.

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RaveDAO has denied any role in the token’s surge and collapse, Cointelegraph reported on Sunday. Both Binance and Bitget confirmed they are reviewing the situation.

The RAVE token fell 92% during the past week and was trading above $0.69 at 12:46 p.m. UTC on Monday, CoinMarketCap data shows.

RAVE/USD, 1-year chart. Source: CoinMarketCap

ZachXBT claimed that RAVE was just one of several tokens spotting “manipulation” signs on major exchanges.

“Other projects with highly questionable price action recently include: SIREN, MYX, COAI, M, PIPPIN, RIVER,” he wrote in a Saturday X post, pledging to investigate these price movements to identify the responsible parties.

Magazine: Meet the onchain crypto detectives fighting crime better than the cops

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