Michael Saylor Warns Against Onchain Proof-of-Reserves Over Security Concerns
Michael Saylor, executive chair of Strategy, criticized the practice of institutions publishing on-chain proof-of-reserves, calling it a “bad idea” that poses significant security risks.
He argued that revealing wallet addresses undermines the security of issuers, custodians, exchanges, and investors.
While proof-of-reserves has become more common in the crypto industry, especially after the FTX collapse, as a way to promote transparency, Saylor contended it only shows what a company holds, not what it owes.
He also declined to say whether Strategy would publish its own proof-of-reserves.
Source: Cointelegraph
CETUS Surges 30% as Security Recovery Plan and Sui Network Initiative Restore Market Confidence
Cetus Protocol (CETUS) is currently trading at $0.1655 with a 24-hour opening price of $0.1272, marking a 30.11% increase and robust trading activity, highlighted by a 24-hour volume of approximately $116.35 million and a market capitalization of $111.13 million. The significant price surge over the past 24 hours follows recent developments surrounding the May 22, 2025 security breach, where $223 million was stolen from Cetus Protocol due to a third-party vulnerability. The recovery plan, community engagement for fund reimbursement, and Sui Network’s $10 million security initiative have contributed to renewed market confidence and increased trading interest, driving the sharp rebound in CETUS price and volume.
🚀 Ethereum Eyes $3K — Can This Breakout Ignite a Crypto-Wide Rally?
After a tumultuous period, bulls pushed Ethereum over $2,600 and into a crucial resistance zone. Market confidence has returned, and ETH may continue to rise. Analysts predict a correction before any substantial breakthrough.
Top analyst Jelle said, “If ETH goes back above $3,000, the real fun begins.” Reclaiming $3,000, a psychological and technical barrier during this cycle, would undoubtedly boost market momentum.
Ethereum leads the cryptocurrency market with increased impetus as bulls seek for a new bullish phase. ETH has been slowly gaining support and traction after rebounding $2,600, laying the groundwork for what many observers think might be a larger cryptocurrency renaissance.
Ethereum must rebound and maintain above $3,000 for an altseason to occur. This level is more than a psychological milestone—it has historically preceded major market rises.
Jelle believes Ethereum will rise if it regains $3,000, supporting this position. He believes a breakthrough over this level would launch a robust continuation phase, taking ETH fast to $3,400 and beyond.
Ethereum is powerful enough to dominate but encountering crucial opposition till then. If bulls can retake $3,000 with conviction, Ethereum's next leg higher and a market-wide altseason will be established. The following days may decide.
On the daily chart, Ethereum (ETH) is stabilizing around $2,634, close below the 200-day SMA at $2,699.60. After a big rise higher in May, ETH is trading flat, with bulls defending the $2,500–$2,600 zone and trying to break over $2,700. Price activity tightens, frequently before a breakthrough or crash.
ETH remained above the 34-day EMA ($2,513) and both 50- and 100-day SMAs, indicating short- to mid-term bullish momentum.
This phase features constant volume, indicating neither buyers nor sellers have completely committed. The next bullish impulse might approach $3,000 with a clean daily closure over the 200-day SMA with volume.
#ETH $ETH #TrumpTariffs #ETHMarketWatch
Day 7 of Schizo's DeFi Musings ---
Man I almost missed posting today tbh lol
Being under the weather (otherwise known as allergies) has kept me super sluggish so I haven't really done much today in the way of research.
What I have been doing is collecting $CVX bribes and listening to podcasts to try and keep my brain somewhat active today.
What I find funny is that I struggle to find reasons to be bullish $ETH the asset (believe me I'm trying) but I genuinely enjoy a lot of ETH protocols.
There's just not really a replacement for them on any other chain. ETH and its L2s have a monopoly for the most part on great DeFi.
Part of that is due to time and how long those protocols have been around, but mostly its because ETH still has a stranglehold on quality DeFi. So like it or not, I'm on ETH using its protocols.
I plan on branching out and trying some new projects, or at the very least just checking them out, so hand me some suggestions!
On my list right now is @InverseFinance @term_labs and @TreehouseFi.
Alright I'm gonna go crash now, and again thanks for reading another installment of my mindless ramblings!