Lubin-Linked Wallet Adds $170 Million ETH Collateral

A wallet linked by Arkham to Ethereum co-founder Joseph Lubin moved 110,000 ETH worth about $170.78 million into three Sky vaults as ETH traded near $1,560. Onchain analysts described the transactions as defensive collateral management, not an apparent sale, after ETH slid below $1,600.

The vaults hold 412,430 WETH against $259.05 million in DAI debt, with liquidation prices between $899 and $1,056 per ETH. That leaves the position roughly 33% above the closest liquidation line, while the source wallet appears tied to long-running Maker positions.

The transfers landed as ETH fell about 24% over the past week and 47% year-to-date, briefly losing its number two market-cap rank to USDT. The wallet first sent 1 ETH as a likely test, then moved funds across three large transactions into vaults active since 2023.

The move also followed broader selling disclosures from major Ethereum holders, including David Hoffman and an early wallet tracked by Lookonchain. Consensys declined comment, while Lubin has not addressed the activity publicly as the firm reportedly explores a potential listing with major banks.

Zcash Rebounds 18% After 50% Single-Day Bug Selloff

Zcash fell more than 50% after researchers disclosed an Orchard privacy-pool bug that could have enabled undetectable counterfeit ZEC. The token dropped near $310, briefly touched roughly $250, and triggered more than $116 million in liquidations before rebounding to $422, up 18% over 24 hours.

The flaw existed from May 2022 until a June 2026 fix, leaving no cryptographic way to prove whether it was exploited. Shielded Labs is weighing a new shielded pool with turnstile accounting, while Zcash supporters argue the rapid patch shows security resilience.

Strategy Teases New Bitcoin Buy After Recent Sale

Michael Saylor revived buy speculation after posting Strategy’s acquisition chart with the phrase “a good time to add more dots.” The signal followed Strategy’s first Bitcoin sale since 2022, a 32 BTC transaction worth roughly $2.5 million that unsettled investors.

CEO Phong Le replied that Strategy aims to increase net Bitcoin and Bitcoin per share over time. The messaging came as Bitcoin fell below $60,000, while SEC filings showed Le and CFO Andrew Kang planning about $15 million in stock sales.

HTX Delists USD1 After Address Freeze

HTX will delist World Liberty Financial’s USD1 stablecoin and convert eligible holdings into USDT at a 1:1 ratio. The exchange said WLFI froze HTX-linked onchain addresses without adequate notice, legal basis or transparent process, citing UK sanctions compliance.

The dispute follows UK sanctions against Huobi Global S.A., which HTX says is separate from its online exchange platform. HTX argues the affected assets belong to individual users, while WLFI has not publicly addressed the specific freeze.

Data of the Day

Hyperliquid treasury firms remain among the few digital asset treasury winners as Bitcoin, Ether and Solana holders face steep paper losses. Hyperliquid Strategies holds 23.7 million HYPE with more than $1.1 billion in unrealized gains despite a recent token pullback.

Strategy now carries more than $12.8 billion in unrealized Bitcoin losses, while BitMine faces about $10.5 billion in paper losses on ETH. Sharplink and Forward Industries are also underwater, showing how the DAT boom split between newer HYPE exposure and legacy accumulation trades.

More Breaking News

• UK regulators flagged Hyperliquid and Hyper Foundation as unauthorized, adding pressure on crypto perpetuals as CME warned the market could face sharper scrutiny.
• Taylor Hornby, whose AI-assisted audit exposed Zcash’s Orchard flaw, said Monero is next in his privacy coin review queue after ZEC’s recent price drop.
• Bybit opened tokenized SpaceX IPO access through, letting eligible users commit USDC before the expected $1.75 trillion Nasdaq listing.
• House Republicans circulated seven crypto tax bills covering staking, mining, gas-fee exemptions and disclosure relief, but skipped a broader everyday-payments exemption.
• Morgan Stanley and Galaxy will let wealthy clients lend Bitcoin, ether and solana for crypto ETP shares, cutting onboarding times by up to 75%.
• Meta’s USDC creator payouts validate stablecoins for global disbursements, but recipients still face wallets, exchanges, compliance checks and local currency conversion friction.
• Coinbase and Better plan summer crypto-backed mortgage payments, letting qualified borrowers pledge Bitcoin or USDC for Fannie Mae-backed home down payments.

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