Web3 Archives - Page 9 of 72

Ethereum Community Foundation Launches With ETH Burn Mission, Eyes $10K ETH

The Ethereum ecosystem has received a powerful boost with the launch of the Ethereum Community Foundation (ECF), a grassroots initiative with a laser-focused mission: burn ETH and push its price to $10,000.

Unveiled by Zak Cole, a veteran Ethereum developer and managing partner at Number Capital, the ECF embraces the radical philosophy of “Eth Burn Maximalism.”

“No VCs. No equity. No tokens. Our upside is burning ETH and sending it to $10K. It’s that simple,” said Cole.

🔥 Burn ETH. Build the Future.

The ECF is rooted in Ethereum’s EIP-1559 upgrade, which was introduced in 2021 to burn a portion of every transaction fee. Since then, over 4.3 million ETH has been permanently removed from circulation—fueling deflationary momentum.

The ECF plans to accelerate that burn rate by funding immutable, tokenless applications that:

Use only ETH for gas fees
Are non-upgradable
Deploy on mainnet
And burn ETH instead of distributing tokens or taking profit

🏗️ Focus Areas and Ecosystem Goals

The ECF isn’t just burning ETH for spectacle—it’s strategically focused on areas that increase Ethereum’s real-world utility:

Infrastructure development
Institutional adoption
Government engagement

By focusing on ETH as a global settlement layer, ECF aims to bring Ethereum into the financial mainstream.

📉 No Tokens, No Equity, Just Burn

The ECF explicitly rejects the traditional Web3 fundraising model—no venture capital, no token launches, no equity. Every dollar granted will go toward projects that contribute directly to ETH deflation.

While the funding source for ECF remains undisclosed, its mission has already resonated deeply with the community. Some believe ECF could prove more aligned with Ethereum’s vision than even the Ethereum Foundation (EF) itself.

🚀 Final Take: Will Burn Maximalism Take ETH to $10K?

The Ethereum Community Foundation represents a bold, purist experiment—a movement that wants to grow Ethereum not through speculative token launches, but by making ETH more scarce and more valuable.

With ETH currently hovering far below its all-time highs, ECF’s philosophy could mark a turning point in Ethereum’s next chapter—if the burn proves big enough.

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DAOstack Officially Shut Down After $30M ICO — GEN Token Plummets to Near Zero

In a quiet but definitive close to one of crypto’s early DAO experiments, DAOstack officially ceased operations in 2022 after running out of funds—despite raising nearly $30 million during the 2017–2018 ICO boom.

According to ICO Drops, DAOstack raised:

$21.9M from a private round
$4.69M in a presale
$3.39M from a public ICO

The project aimed to build a decentralized governance protocol for DAOs, but it never lived up to its fundraising hype.

By the end of 2022, it had formally shut down, citing treasury depletion. Despite its early promise, its native GEN token never even hit its original token sale price during its entire run.

📉 GEN Token Collapses Below One Cent

The token now trades at $0.001422, dropping another 2.71% in the last 24 hours, according to Dexscreener. At its peak, GEN failed to reclaim its ICO price, and by May 2021, it began its long descent—now worth virtually nothing.

Current Market Cap: $68.18K
Token Price: $0.001422
24-Hour Change: –2.71%

🧬 DAOstack’s Legacy Lives On Through xStocks

Interestingly, DAOstack’s impact persists in a new form. According to LinkedIn, three co-founders of Backed Finance, the team behind the tokenized stock marketplace xStocks, are former DAOstack employees.

While GEN may be dead, its DAO-building ethos has evolved, carried forward by a new generation of Web3 builders working on regulated on-chain assets.

⚠️ Final Take: Another ICO-Era Cautionary Tale

DAOstack’s shutdown is a sobering reminder of the boom-and-bust cycle of early crypto startups. Despite a massive treasury, poor execution and lack of traction led to collapse—leaving investors with nearly worthless tokens.

Yet, as seen with xStocks, talent rarely disappears—just pivots. DAOstack might be gone, but its alumni are now shaping the tokenized finance wave.

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Breaking ! Solana Price Today: 4 Sharp Signals Suggesting a Break Above $160

The focus today for Solana price today is how SOL is moving within a tight range just below $155, backed by stronger network activity and whale behavior. Here are four signals that could determine if SOL breaks higher—or pulls back.

4 Solana Price Today Signals You Need to Know

Support Holding Strong at ~$150
SOL has bounced off the $150 level twice in the past 24 hours, showing buyers are stepping in to defend this key zone—a positive setup for bulls.
Resistance at $156–$158
SOL continues to test overhead resistance between $156–$158. A decisive breakout here on strong volume could pave the way to the next target at $165.
Whale Accumulation Off-Exchanges
Large holders have moved roughly $30 million worth of SOL from exchanges into staking/long-term wallets, signaling reduced sell pressure and rising convictions.
DeFi Growth & TVL Uptick
Solana’s DeFi ecosystem is showing signs of resurgence, with TVL up ~7% this week. Increased user activity in lending, AMM protocols, and NFTs adds bullish tailwinds.

Quick Take:
Solana price today is consolidating near $150–$158. With solid support, growing on-chain activity, and whale accumulation creating favorable conditions, a breakout is possible. But traders should watch for a volume-backed move above $158 to confirm momentum. Otherwise, SOL may revisit $150—or dip slightly lower. Track DeFi metrics and wallet flows to gauge next direction.

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WazirX Under Fire: ₹342 Crore Payment to Founder-Owned Firm Sparks New Governance Crisis

WazirX is back in the headlines—and not for a good reason.

A spicy detail in Zanmai Labs’ annual report just dropped: a massive ₹342 crore was paid to Qizil21 Software Pvt Ltd, a company owned by WazirX co-founder Nischal Shetty and his wife. That’s up from just ₹28 crore the year before. No explanation. No receipts.

And that’s not all. Another Shetty-linked company, Shibuya Labs, got ₹35.5 crore one year, then barely ₹2 crore the next. Forensic sleuths say these kinds of money swings often raise red flags—especially when the money’s moving between companies owned by the same fam. 🧾🔍

This comes on the heels of WazirX’s ₹2000 crore hack in 2023, which left thousands of users locked out. Crypto community group TooFAAN Army has been digging deep and now they’re asking the real question: Did money leave user funds before the hack ever happened?

Adding to the mess? Binance’s 2022 plot twist when CEO CZ (Changpeng Zhao) claimed they never actually bought WazirX—even though it was announced back in 2019. Why the backpedal? With these new money trails, it may not have been so random after all.

Even worse, Shetty allegedly told users that unless they agreed with his terms, funds wouldn’t be released until the Binance beef was settled. Meanwhile, ₹342 Cr quietly slid out the back door.

Now, the Enforcement Directorate is circling again, and lawyers say more summonses could hit soon. Under Section 188 of the Companies Act, these payments need to show legit business reasons—or they could trigger money laundering probes.

WazirX was once India’s crypto poster child. Now? It’s looking more like a cautionary tale. With no comments from the team and angry users still waiting for answers, everyone’s wondering: Was the real problem hackers—or something deeper inside?

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Bitcoin Price Today: 4 Key Signals Hint at a Push Toward $112K

Bitcoin price today is trading around $107,900 after a high-volume rebound from the $107K zone. With a mix of ETF inflows, on-chain strength, and technical patterns, all eyes are on whether BTC can reclaim fresh highs.

4 Bitcoin Price Today Signals You Should Know

Crypto ETFs Keep Flowing In
Spot BTC ETFs have recorded inflows for 11 straight sessions, adding $588 M this week and pushing IBIT’s ten-day total to over $1 B .
Support Holding Firm at $107K
BTC’s bounce from the $107K level has come on sustained volume. That zone now acts as solid support—holding above it is key for bulls moving forward .
Descending Channel with Breakout Potential
After a slowdown in May, BTC formed a descending channel. A clean breakout above its top trendline (approx. $109K–110K) could lead to a run toward $112K+ .
Hash Rate Hits New All-Time High
BTC’s hash rate reached record levels this week—emphasizing confident miner sentiment and reinforcing the stability of the network .

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Ethereum Price Today: 4 Key Triggers That Could Send ETH Soaring or Sliding

Ethereum price today is hovering around $3,700–$3,750, balancing on strong fundamentals but facing resistance. With major catalysts in play, here are the four key signals that could shape ETH’s next move:

4 Triggers to Watch for Ethereum Price Today

Support Holding at $3,650
ETH bounced decisively off the $3,650 level twice in recent sessions, validating that zone as a critical support area.
Resistance Stuck Near $3,800–$3,820
Ether has struggled to break above this upper range. A volume-backed break could send ETH toward $3,950 and test the $4,000 boundary.
Staking Volume Surges
On-chain data shows a 1.8% increase in staked ETH over the past week. Greater staking reduces available supply and strengthens holders’ conviction in the protocol.
Macro Outlook & ETH ETF Buzz
Hopes for an upcoming spot Ethereum ETF are boosting sentiment, though macroeconomic uncertainty—including inflation data and central bank commentary—could shift volatility.

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Breaking ! XRP Today: 4 Smart Updates Powering On-Chain Innovation

The xrp today update shines light on Ripple’s push toward real-world blockchain use cases. The Ripple Ledger’s (XRPL) latest enhancements focus on tokenization, DeFi integration, and improved developer tools—marking a shift from payments to programmable finance.

4 Major Moves Driving XRP Forward

Tokenization Toolset Launch
Ripple introduced a new tokenization framework on XRPL that enables on-chain creation of real-world assets—everything from fiat-backed stablecoins to real estate token products. This opens up XRPL for broader institutional and enterprise use.
Decentralized Finance Boost
A suite of DeFi libraries and smart contract templates now ship directly with the Ripple Ledger upgrade. Developers can more easily build lending, staking, and AMM features on Ripple’s low-cost, high-speed network.
Built-in Compliance Layer
A new compliance plugin allows for on-chain KYC/AML checks during transfers—with privacy controls. This optional feature helps businesses meet regulatory requirements without sacrificing speed or decentralization.
Multilingual Dev SDKs Released
Ripple rolled out updated SDKs for JavaScript, Go, and Python, smoothing the onboarding process for developers worldwide. These tools include testnets, documentation, and interactive tutorials.

Quick Take:
Today’s Ripple today news is more than network upgrades—it’s a pivot to real-world utility. Tokenization, DeFi tools, compliance options, and improved developer usability set Ripple Ledger apart in the race for practical adoption. Watch to see whether institutional projects and dev teams begin shipping at scale soon.

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Breaking ! Resupply Hack: $9.6M Vanishes in Minutes After Smart Contract Glitch

Resupply Hack: DeFi Glitch Leads to $9.6M Crypto Theft

Another day, another DeFi breach—infamous hack is now trending after the decentralized protocol Resupply confirmed a critical exploit in its wstUSR market. A flaw in its ResupplyPair contract let a hacker borrow massive amounts of crypto with nearly zero collateral, draining $9.6 million in minutes.

The attacker cleverly manipulated the price of a token called cvcrvUSD. This triggered a logic glitch in the smart contract, making it think the collateral was worth way more than it actually was. Using this trick, they borrowed large amounts of reUSD, swapped it into other tokens like ETH and USDC, and split the stash across multiple wallets.

Rough breakdown of stolen assets:

ETH: ~$2 million
USDC: ~$3.6 million
Others: Remaining amount across stablecoins and tokens

It has paused all activity in the wstUSR market to prevent further damage. Thankfully, other parts of the protocol remain untouched. The team is currently investigating and will publish a full post-mortem soon.

Quick Take:
This hack is a brutal reminder that even well-known DeFi protocols can have fatal flaws—especially when they rely on external price oracles. As the ecosystem scales, the pressure to audit, simulate, and harden these systems is growing fast. For now, Resupply users are left hoping for recovery options—or at least lessons learned.

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Breaking ! IntelBroker Exposed: UK Hacker Charged in $25M Data Theft Case

IntelBroker Charged: U.S. Unmasks Alleged Mastermind Behind $25M Data Heist

It’s official—intelbroker has a face. U.S. prosecutors just unsealed charges against Kai West, a 25-year-old British national accused of running a global hacking empire responsible for more than $25 million in damage. West, known online as “IntelBroker,” allegedly operated BreachForums and led coordinated cyberattacks that breached sensitive company systems around the world.

Bitcoin Traces, Data Leaks & a Dark Web Empire

Between 2023 and early 2025, West reportedly posted or sold stolen data over 150 times—sometimes for profit, sometimes to boost clout through forum credits. Prosecutors say he ran BreachForums between August 2024 and January 2025, a dark web marketplace infamous for trading hacked corporate data.

Although IntelBroker has taken credit for past attacks on AMD, Cisco, and HP Enterprise, these companies aren’t specifically named in the current charges. Investigators instead tied West to a broader conspiracy to commit computer intrusion, aided by clever blockchain tracing. Despite preferring Monero for its privacy features, undercover agents were able to connect Bitcoin payments to West’s emails and crypto wallets.

West was arrested in France in February 2025 and is awaiting extradition to the U.S. If convicted, he faces up to 20 years in prison. The case, filed under U.S. v. West, 25-cr-134, is being prosecuted in New York’s Southern District. His legal counsel remains unnamed.

Quick Take:
The intelbroker bust is one of the biggest dark web takedowns since BreachForums first launched. It’s a wake-up call for data security worldwide—and a warning that even privacy coins and forums can’t guarantee anonymity forever.

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SharpLink Gaming Buys 188,478 ETH, Raises $27M to Double Down on Ethereum Strategy

SharpLink Gaming is going heavy on Ethereum. The company just dropped a press release confirming the purchase of 12,207 ETH between June 16-20 for roughly $30.67 million, averaging $2,513 per ETH. That brings SharpLink’s total holdings to a whopping 188,478 ETH—making it the biggest public Ethereum holder to date.

To support this crypto-heavy strategy, the company also sold 2.54 million shares of its common stock, raising $27.7 million to fund more ETH buys. SharpLink’s Chairman, Joseph Lubin, called it a “forward-thinking move,” saying it reflects both belief in Ethereum’s utility and a plan to build long-term shareholder value.

The bold strategy began on June 2, when it launched its Ethereum treasury model. On June 16, it made its first major buy—176,271 ETH worth $462.9 million—and has already generated 120 ETH in rewards from staking or treasury gains. So far, the company reports an ETH-per-share growth of 18.97%.

Markets are noticing. SBET, SharpLink’s stock, jumped 10% to $10.10 on Tuesday. Many analysts believe this move mirrors previous crypto treasury strategies from companies like MicroStrategy—and could cause similar upside for it.

Meanwhile, Ethereum’s own momentum continues. ETH is up over 7% in the past 24 hours, now trading at $2,437, with volume spiking 25%, signaling growing investor interest. Whales are buying too. Wallets linked to ConsenSys, reportedly founded by Joseph Lubin himself, added another 3,704 ETH ($8.91 million) to their holdings today.

With Ethereum moving fast and institutional interest rising, SharpLink’s aggressive ETH-first strategy is drawing attention—and possibly setting a new trend for public companies in crypto.

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