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Zoth, an Ethereum-based real-world asset platform, has suffered an $8.85 million exploit after attackers gained unauthorized access to a private key. The breach marks the second major security incident for Zoth in a month, highlighting ongoing vulnerabilities in DeFi protocols. The attacker reportedly compromised the protocol’s deployer wallet, allowing them to upgrade the “USD0PPSubVaultUpgradeable” proxy contract to a contract under their control. This maneuver helped them to withdraw $8.4 million in Zoth’s USD0++ stablecoin, which was quickly swapped for 8.3 million DAI and moved to an external address. In response, Zoth has placed its website in maintenance mode and is working with security partners to assess the damage and prevent further exploits. Proxy contracts, widely used in DeFi for upgradability, introduce a risk when private keys securing them are compromised. The unauthorized upgrade in Zoth’s case demonstrates how attackers can manipulate contract logic to reroute funds without resistance. This breach follows a March 6 exploit in which Zoth lost $285,000 due to a liquidity pool vulnerability. Repeated security failures raise concerns about the platform’s risk management and could invite regulatory scrutiny.

The German Federal Financial Supervisory Authority, BaFin, has ordered Ethena GmbH to stop all public sales of its stablecoin USDe. This comes after the German financial markets regulator found serious flaws in Ethena GmbH’s USDe approval process. Per the BaFin announcement on March 21, 2025, the public sales of Ethena ( ENA )’s synthetic dollar Ethena USDe violates the European Union’s Markets in Crypto Asset Registration rules. With stablecoin regulation being one of the EU’s major enforcement priorities, a lack of MiCAR compliance has become a key obstacle for stablecoin issuers. “The BaFin also has reasonable grounds to suspect that Ethena GmbH in Germany sells securities in the form of sUSDe tokens from Ethena OpCo. Ltd. without the required prospectus,” the regulator said. BaFin has therefore ordered Ethena to immediately cease any sales to the public. The enforcement measures include a freeze on USDe reserves held by Ethena’s custodian. Additionally, Ethena GmbH is required to shut down its website portal and stop registering new customers. While Ethena GmbH has been prohibited from selling USDe, the order only applies to primary sales. In this case, BaFin’s order does not affect secondary sales. Ethena Labs issued a statement on X following the news. “We were informed today that Ethena GmbH’s application under the MiCAR regulatory framework will not be approved. While we are disappointed by this decision, we will continue to evaluate alternative frameworks.” According to the crypto platform, BaFin’s order doesn’t affect the stablecoin’s listing. The decision will also not affect minting and redemption through Ethena Limited, the company’s entity registered in the British Virgin Islands, which handles the majority of USDe minting. “USDe remains fully backed [and] no assets have been “frozen”” Ethena noted.

Coinbase is reportedly in advanced discussions to acquire Deribit, a leading crypto derivatives exchange specializing in Bitcoin and Ether options, according to Bloomberg. The companies have informed regulators in Dubai— where Deribit is licensed — about the ongoing negotiations, though no final agreement has been confirmed. Deribit is the dominant player in the crypto options market and was valued between $4 billion and $5 billion earlier this year. The platform saw nearly $1.2 trillion in trading volume in 2024, nearly doubling its activity from the previous year. Coinbase, primarily known for its spot trading business, would significantly strengthen its foothold in the derivatives space with this acquisition, aligning with its broader expansion strategy. The potential acquisition follows earlier reports that Kraken had also explored a bid for Deribit. Coinbase has been increasingly focused on growing its derivatives offerings, having already launched derivatives trading for U.S. retail users and obtained a license to offer crypto futures. With the derivatives market now accounting for a major share of crypto trading volumes, securing a platform like Deribit could give Coinbase a strong competitive advantage in the sector. While the negotiations have reached an advanced stage, Bloomberg reported that it remains unclear if the two firms will finalize a deal.

$PNUT analysis: The price is currently testing the resistance area. Let's see if it can break above this level. If it faces rejection here, we could see a move back towards the support line. Conversely, a breakout would likely lead to a significant rally, pushing the price towards the major resistance area. Support Area: $0.160-$0.1640 Resistance Area: $0.1750-$0.1800 Major Resistance Area: $0.2145-$0.2180

XRP, the digital asset associated with Ripple, appears to be on the cusp of a significant milestone, with market sentiment strongly pointing towards the approval of an XRP exchange-traded fund (ETF) this year. Predictions from users on platforms like Polymarket indicate a high probability (83%), with Billmarket even predicting a 99% chance. This optimism reflects the shifting regulatory landscape and Ripple’s increasing influence within the financial sector Ripple CEO Brad Garlinghouse remains confident that XRP will soon be included in both national cryptocurrency reserves and ETF offerings. His recent statements suggest a more positive relationship between Ripple and U.S. regulators, potentially clearing the path for investment products linked to XRP. Garlinghouse has emphasized that regulatory acceptance is key to XRP’s potential inclusion in future ETFs. He noted that previous regulatory hurdles under the Biden administration had presented challenges. However, the current regulatory environment appears more favorable for Ripple. This shift has led to increased investor interest and inflows into XRP-backed investment vehicles. According to Garlinghouse, there are currently eleven ETF filings involving XRP awaiting approval from the U.S. Securities and Exchange Commission (SEC). Consequently, anticipation for an XRP ETF launch remains high in 2025. Related: Ripple’s SEC Victory: Appeal Dropped, But SEC Silence Leaves “Officially Over?” Question Hanging Garlinghouse also highlighted the U.S. government’s growing consideration of establishing a cryptocurrency reserve. This reserve could potentially include major cryptocurrencies such as Bitcoin, Ethereum, Cardano, Solana, and XRP. Beyond these prominent assets, the reserve might also incorporate cryptocurrencies seized through law enforcement actions. If implemented, this strategy would further solidify XRP’s role within the broader cryptocurrency ecosystem. XRP’s improving regulatory outlook is fueling optimism within the market. Garlinghouse believes that the approval of an XRP ETF would provide further legitimacy to the asset and attract a wider range of mainstream investors. Garlinghouse noted that Ripple has moved from a position of struggling to engage with U.S. lawmakers to one where it is more readily accepted in regulatory discussions. This evolution could significantly enhance XRP’s appeal as an investment and strengthen its market position. XRP’s market activity reflects its shifting fortunes. XRP is currently trading at $2.40 , with a 24-hour trading volume of $4.55 billion. Related: Ripple General Counsel Remarks: SEC Wants to ‘Remake the Law’ Despite a 3.97% price decline in the past 24 hours, XRP has gained 4.39% over the past week. Its market capitalization stands at $139.46 billion, supported by a circulating supply of 58 billion XRP tokens. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.