Industry News

Tracks company news, strategic changes, funding activities, and personnel adjustments across the blockchain and crypto industries, delivering a full-spectrum industry overview for our users.

Manhattan Private Credit Launches Network to Connect Investors With Private Credit Markets as Bank Lending Continues to Contract

Manhattan Private Credit has launched a private capital network to connect investors with the growing private credit market, which has expanded into a multi-trillion-dollar sector as traditional bank lending contracts. The platform serves as an infrastructure layer, facilitating deal origination and capital matching across private credit, litigation funding, structured lending, asset-backed finance, and special situations. It connects investors, borrowers, developers, and legal firms who previously relied on fragmented, relationship-driven networks. The company emphasizes that its model resembles a platform business, matching supply and demand without originating deals itself. The growth of private credit is driven by banks retreating from areas like property development lending and bridge finance due to post-GFC regulations. Manhattan targets time-sensitive, event-driven opportunities where traditional banks are slow or disinterested. Access is provided through a membership structure, offering platform and network access rather than an investment product. The launch bets on the sustained structural gap between private lending demand and traditional bank supply.

TheNewsCrypto04/03 04:05

Manhattan Private Credit Launches Network to Connect Investors With Private Credit Markets as Bank Lending Continues to Contract

TheNewsCrypto04/03 04:05

Alert Across the Internet! Claude Code Source Code Leak Triggers "Secondary Disaster": Hackers Set GitHub Phishing Traps

A major security alert is circulating online following the accidental leak of Claude Code's source code by Anthropic. Hackers are exploiting the incident by creating fake GitHub repositories that distribute the information-stealing malware known as **Vidar**. Posing as a user named `idbzoomh`, the threat actor set up multiple repositories claiming to offer "unlocked enterprise features" from the leaked source code. These repositories are optimized for search engines to appear at the top of results for queries like “Claude Code leak,” increasing their reach. If a user downloads and executes the provided files, the Vidar malware is deployed. It is a sophisticated stealer designed to harvest sensitive data such as browser credentials, cryptocurrency wallets, and personal information. The attack also installs **GhostSocks**, a proxy tool that establishes hidden communication channels for remote control and data exfiltration. Security firm Zscaler notes that these malicious repositories update frequently, making it easier to bypass basic security scans. At least two similar repositories have been identified, suggesting the same attacker is testing different distribution methods. This incident highlights the compound risks in the AI era, where initial human error leads to secondary threats like social engineering. Developers are urged to obtain software only through official channels and avoid executing untrusted binaries.

marsbit04/03 01:06

Alert Across the Internet! Claude Code Source Code Leak Triggers "Secondary Disaster": Hackers Set GitHub Phishing Traps

marsbit04/03 01:06

Ripple Prime’s Inaugural BBB Rating Explained — What Drove Kroll’s Decision

Global credit rating agency Kroll has assigned an inaugural BBB issuer rating to Ripple Prime, marking a significant endorsement for a crypto-native firm. The rating reflects Ripple Prime’s scaling phase, profitability in 2025, and a clear expansion strategy. A key factor is strong parental support from Ripple Labs, which holds substantial cash and XRP reserves. Kroll expects revenue diversification and margin improvement in 2026 through new business lines. Experts view the rating as a turning point, signaling growing institutional trust in crypto firms bridging traditional and digital finance.

bitcoinist04/02 19:02

Ripple Prime’s Inaugural BBB Rating Explained — What Drove Kroll’s Decision

bitcoinist04/02 19:02

Crypto Exchange Bithumb Pushes IPO Past 2028 As Cleanup Effort Continues

Bithumb, a major South Korean cryptocurrency exchange, has delayed its initial public offering (IPO) plans to after 2028, a significant postponement from its original 2025 target. The decision follows a year of challenges, including compliance issues, board changes, and a major internal error in February that temporarily displayed over $40 billion in fake user balances. The exchange mistakenly credited users with 2,000 Bitcoin instead of 2,000 won, raising serious concerns about its internal controls. Additionally, Bithumb faced regulatory pressure, including a six-month suspension and a $24 million fine for alleged anti-money laundering breaches. Under renewed CEO Lee Jae-won, the company is now prioritizing the strengthening of its accounting systems and internal governance with advisory firm Samjong KPMG before proceeding with an IPO. This slower timeline contrasts with competitor Upbit, which is reportedly preparing for its own public listing.

bitcoinist04/02 16:01

Crypto Exchange Bithumb Pushes IPO Past 2028 As Cleanup Effort Continues

bitcoinist04/02 16:01

‘Circle had 6 hours to freeze funds’ – ZachXBT slams CEO after DRIFT hack

In the past 24 hours, Drift Protocol on Solana suffered a $285 million hack, including the theft of Circle’s USDC. Blockchain investigator ZachXBT accused Circle of failing to freeze $230 million in stolen USDC that was bridged from Solana to Ethereum via CCTP, despite having a 6-hour window to act. He criticized Circle and its CEO Jeremy Allaire for incompetence, alleging they use compliance buzzwords without real implementation. The hack impacted 11 protocols, with Ranger Finance losing $900K. Although Solana’s Chief Product Officer called it an isolated incident, the event raised broader DeFi security concerns. Circle’s stock extended its decline, with indicators showing oversold conditions and continued selling pressure.

ambcrypto04/02 12:53

‘Circle had 6 hours to freeze funds’ – ZachXBT slams CEO after DRIFT hack

ambcrypto04/02 12:53

Prediction Market Giants Clash as Competition Between Kalshi and Polymarket Heats Up

The competition between US-based prediction market platforms Kalshi and Polymarket has intensified, with both companies exchanging sharp public criticisms. Kalshi, which is regulated by the CFTC, launched an ad campaign in Washington, D.C., with slogans such as "We don’t do death markets," directly targeting Polymarket’s offshore operations and its controversial contracts related to military conflicts and sensitive events. Kalshi accused Polymarket of being "irresponsible, dangerous, and non-compliant," while Polymarket responded by calling for fact-based discussions and emphasizing its commitment to market integrity. The dispute highlights fundamental differences in their regulatory approaches and comes amid growing scrutiny over insider trading and ethical concerns in the prediction market industry, which has seen combined weekly volumes nearing $6 billion.

marsbit04/02 08:52

Prediction Market Giants Clash as Competition Between Kalshi and Polymarket Heats Up

marsbit04/02 08:52

In the AI Era of Spending $2 to Earn $1, Founders Who Don't Build an IP Are Being Phased Out

In the AI era, founders who neglect building a personal IP are being left behind. Top VC firm a16z now runs an 8-week fellowship program to train storytellers and content creators for its portfolio companies, signaling a strategic shift. Key drivers: - Customer acquisition costs (CAC) have surged 222% over 10 years, with SaaS companies spending $2 to earn $1 in annual revenue. - AI has accelerated product homogenization, shrinking competitive advantages from years to just 3-12 months. - Consumers increasingly trust authentic human voices: 71% distrust AI-heavy brand communication, while 67% pay more for founder-aligned values. Case studies demonstrate the power of founder IP: - Sam Altman’s personal Twitter (4.5M followers) often outperforms OpenAI’s official account, amplifying the company’s narrative and valuation growth. - Perplexity CEO Aravind Srinivas, with zero marketing budget, grew valuation 133x to $21.2B through transparent, direct user engagement. - Midjourney, with just 10-15 employees, achieved $500M revenue by leveraging founder David Holz’s Discord community interactions. - Even non-founder IP like Duolingo’s brand personality (a “crazy” owl) drove user growth from 37M to 117M MAU. However, founder IP is a double-edged sword—Elon Musk’s influence boosted Grok’s market share but also contributed to a 53% drop in Tesla’s brand value due to controversial statements. The conclusion: Product strength is the foundation (the “1”), but founder IP is the multiplier (the “0”). In an era of rising CAC and AI-driven sameness, a founder’s authentic voice is becoming the most efficient growth lever and durable moat.

marsbit04/02 07:05

In the AI Era of Spending $2 to Earn $1, Founders Who Don't Build an IP Are Being Phased Out

marsbit04/02 07:05

Interviewing 10 Dubai Workers: Some Were Asked to Sign 'Life-or-Death Waivers'

The article "Interviews with 10 Dubai Workers: Some Forced to Sign 'Life-or-Death Waivers'" explores the impact of the 2026 Iran-Israel conflict on Dubai's crypto industry and expatriate community. Following missile and drone attacks, Dubai International Airport and Burj Al Arab hotel were hit, causing evacuations and disruptions. While the Dubai Financial Market Real Estate Index fell ~30%, actual property prices dropped only 4-5%. Crypto workers responded diversely: some fled due to safety concerns or family pressure (e.g., Stella, Rebecca), others remained, citing leadership confidence and established lives (e.g., Tiffany), and a few returned under company-mandated "life-or-death waivers" to seize business opportunities. Despite short-term chaos, long-term optimism persists. Experts like Ethan argue Dubai remains irreplaceable as MENA's crypto hub due to its strategic location, English proficiency, crypto-friendly policies, and infrastructure—alternatives like Qatar, Istanbul, or North Africa lack comparable stability or scale. Events like Token2049 were postponed, but the city's role in crypto networking and business development (as Oliver notes) remains vital. Ultimately, many express faith in the UAE's resilience and China’s evacuation assurances, viewing the crisis as a setback rather than a terminal decline for Dubai's crypto ecosystem.

marsbit04/02 06:26

Interviewing 10 Dubai Workers: Some Were Asked to Sign 'Life-or-Death Waivers'

marsbit04/02 06:26

Interviewing 10 Dubai Workers: Some Were Asked to Sign 'Life-or-Death Waivers'

An article titled "Interviewing 10 Dubai Workers: Some Were Asked to Sign 'Life-and-Death Waivers'" explores the impact of the 2026 military conflict between the U.S.-Israel coalition and Iran on crypto industry workers based in Dubai. Following Iran's retaliatory strikes, which involved over 2,000 missiles and drones, Dubai’s airport and luxury hotels were hit, causing injuries and disruptions. The city’s real estate and financial markets saw significant declines, with the DFM property index dropping about 30%. The crypto community responded in varied ways: some workers fled due to safety concerns and family pressure, others chose to stay, citing leadership confidence and personal commitments, and a few returned to seize business opportunities, sometimes signing risk waivers. Despite the chaos, many believe Dubai remains irreplaceable as a Middle Eastern crypto hub due to its strategic location, business-friendly environment, and lack of alternatives. The Token2049 conference was postponed to 2027, but long-term optimism persists, underpinned by trust in both the UAE’s stability and China’s support for its citizens abroad.

Odaily星球日报04/02 06:22

Interviewing 10 Dubai Workers: Some Were Asked to Sign 'Life-or-Death Waivers'

Odaily星球日报04/02 06:22

Franklin Templeton Acquires CoinFund Affiliate, Accelerating Traditional Finance's Rush for Crypto Assets

Franklin Templeton, a global investment giant with over $1.5 trillion in assets under management, has established a new independent cryptocurrency division called Franklin Crypto. This move coincides with the acquisition of 250 Digital, a crypto investment management firm spun out from CoinFund. Although the acquisition amount was not disclosed, the deal is expected to close in Q2 of this year. The announcement is part of a broader trend of traditional financial institutions accelerating their entry into the crypto space. Recent examples include Mastercard's $1.8 billion acquisition of stablecoin infrastructure startup BVNK and Stripe's acquisition of the stablecoin project Bridge. Industry experts predict that crypto-related mergers and acquisitions will exceed $37 billion by 2026. Franklin Templeton’s new division will expand its existing crypto and blockchain venture operations and broaden its digital asset investment platform. The firm’s global head of digital assets currently manages around $1.8 billion. Company executives noted growing institutional and younger investor interest in crypto, signaling a convergence of traditional and digital asset investing.

marsbit04/02 04:50

Franklin Templeton Acquires CoinFund Affiliate, Accelerating Traditional Finance's Rush for Crypto Assets

marsbit04/02 04:50

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