18 June 2025

Polyhedra Announces Buyback Plan Following 80% Price Drop from Attack

Key updates from the cryptocurrency sector:

Polyhedra's Price Drop: Polyhedra reported a more than 80% drop in its ZKJ token due to liquidity attacks. The team plans a buyback, injecting $30 million in support and asserting that no team-held tokens were sold.
Optalysys Launches Blockchain Server: U.K. startup Optalysys unveiled a server utilizing Fully Homomorphic Encryption for secure blockchain data processing. This product aims to reduce costs and energy consumption compared to traditional systems.
Ink Foundation Airdrops INK Token: The Ink Foundation is launching its INK token on an Aave-based protocol. The distribution will start with an airdrop to early users, with a fixed supply of 1 billion tokens.

The SEC disclosed a deal involving Tron DAO and Justin Sun, detailing a $100 million PIPE transaction in TRX tokens, granting control to Sun's father over board positions.
JPMorgan introduced JPMD, a permissioned USD deposit token on Coinbase’s Base network, marking its first use of public blockchain technology for digital asset services.
Nobitex, an Iranian exchange, was hacked for $90 million by a group linked to Israel, which threatened to release internal data.

The U.S. Senate passed the GENIUS Act for stablecoin regulation with significant bipartisan support, moving to the House for further consideration.