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Exactly Protocol, a decentralized credit market on the Optimism (OP) blockchain, has been targeted by a bridge exploit worth as much as $12 million.

That was nearly 30% of all liquidated futures on Binance, the data shows.

Funding rates tanked on several exchanges, indicating a steep discount in bitcoin perpetual futures.

Creditors will have a month to mull the sale to Fahrenheit, which court filings say could see them recover 67%-85% of holdings.

Bitcoin prices fell suddenly late on Thursday amid reports of hundreds of millions in sales, triggering a bloodbath across futures and spot markets.

Crypto markets cratered late Thursday with bitcoin (BTC) dropping as low as $25,000 on the crypto exchange Binance.

They would join bitcoin futures ETFs that are already approved.

A group of crypto investors and developers lost a lawsuit funded by Coinbase which sought to argue that the U.S. Treasury Department overstepped its authority in sanctioning Tornado Cash, a mixing service.

In this week’s issue, we cover Coinbase’s launch of “Base,” a layer-2 network atop Ethereum, along with the crypto community’s reaction to PayPal’s new stablecoin and the brouhaha over Matter Labs’ use of Polygon-crafted open-source software. The Protocol is CoinDesk’s weekly newsletter devoted to blockchain and crypto technology.

The exchange expanded its services in Canada earlier this week.