🔔 MARKET MOVING NEWS! (27/04/25)
1️⃣ Solana's Loopscale Pauses Lending After $5.8M Hack ‼️
Solana DeFi protocol Loopscale reportedly lost $5.8 million worth of digital assets after an attacker exploited one of its markets on April 26. The stolen crypto represents roughly 12% of the protocol’s TVL. It stated that the primary cause of the exploit was an “isolated issue with Loopscale’s pricing of RateX-based collateral." The platform temporarily halted its lending markets after the exploit. While it has since “re-enabled loan repayments, top-ups, and loop closing”, all other app functions (including Vault withdrawals) are still temporarily restricted while it investigates the exploit.
2️⃣ Arbitrum Says It Pulled Out Of Accelerator Program After Nvidia Refused Crypto Association 🔍
According to a report by The Block, the Arbitrum Foundation claims it withdrew from an Nvidia-backed accelerator program after the chipmaker stated it did not want to be mentioned in any public announcements. The statement comes after earlier reports indicated that Nvidia was the one to pull the plug on the arrangement. However, the Arbitrum Foundation claims Nvidia changed its tune in recent weeks saying it was willing to partner with Arbitrum, as long as the chipmaker wasn't mentioned in any public-facing crypto-related announcements.
A Foundation spokesperson stated,
Arbitrum was not removed from the AI Ignition Accelerator — the team made the decision to disengage after Nvidia asked to remove its brand from crypto-related announcements, signalling a lack of long-term commitment.
3️⃣ US Senator Calls For Trump Impeachment, Cites Memecoin Dinner ❓
During an April 25 town hall, United States Senator Jon Ossoff said he “strongly” supports impeachment proceedings for President Donald Trump. He cited the President’s plan to host a private dinner for top Official Trump memecoin holders as reason for impeachment. The Senator added that an impeachment is unlikely unless the Democratic Party gains control of Congress during the US midterm elections in 2026.
Ossoff stated,
I mean, I saw just 48 hours ago, he is granting audiences to people who buy his meme coin. When the sitting president of the United States is selling access for what are effectively payments directly to him. There is no question that that rises to the level of an impeachable offense.
4️⃣ US Spot Bitcoin ETFs Log $3 Billion In Weekly Inflows 💸
U.S.-based spot bitcoin ETFs logged over $3 billion worth of inflows last week, marking the first full week of consecutive inflows in five weeks. Friday marked the sixth straight day of net inflows for the BTC ETFs. According to SoSoValue data, BlackRock's IBIT logged $240 million worth of inflows and Fidelity's FBTC logged in $108 million worth of inflows, accounting together for 92% of all inflows on Friday. The last time spot Bitcoin ETFs had a full week of inflow days was the trading week ending March 21. Additionally, the weekly inflow level was the second-highest of all time, and the second to cross the $3 billion mark.
