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- 🤸 24 Hours of Mayhem: Top 5 Takeaways
🤸 24 Hours of Mayhem: Top 5 Takeaways
Plus, Infinex unveils Sonar sale deets!
YEET.com has been doing some cool stuff lately in the crypto casino space, so we’re giving it a shout-out for anyone who’s been meaning to check it out.
They’ve been putting out a bunch of fun, crypto-themed games with plenty more coming. There’s a mix of quick spins and deeper plays, so you can poke around and see what you like.
It’s easy to jump in. Just hit the link, sign up and have a look around.
Worth exploring if you haven’t already. And as always, gamble responsibly.
The past 24 hours have been the busiest. It’s been a mix of courtroom drama and tech chaos. Plus, there were also developments that gave out the “wait… what just happened?” vibe.
To start off, Kalshi has landed in legal trouble: a full class-action lawsuit accusing the prediction market of running unlicensed sports betting.
The plaintiffs say they were “tricked” into betting against Kalshi’s own market-making entities rather than other users, while Kalshi insists the whole case misunderstands how federally regulated exchanges work.
Meanwhile, regulators across multiple states are circling, so this may be the beginning of a long, messy legal saga.
Over in TradFi land, CME Group, the world’s largest exchange operator, froze like a Windows XP machine. A cooling failure at its data center provider took major futures markets, from oil to S&P 500 contracts, offline for hours.
Brokers said they were “flying blind” without prices updating, and honestly, that’s about the most terrifying sentence you can hear in markets. Not a great look heading into the usual month-end volatility.
And speaking of bad weeks, Upbit was reportedly hit again, this time losing millions in a breach involving Solana-based assets.
Interestingly though, investigators now believe North Korea’s Lazarus Group was behind it, citing similarities to the group’s 2019 Upbit hack. Onchain sleuths already spotted the attacker swapping funds for USDC and bridging to Ethereum, so it seems the cleanup has officially begun.
On the more optimistic side we’ve had, Infinex, the crypto superapp from Synthetix founder Kain Warwick, lay out details for its upcoming public $INX token sale.
It’s a $15 million raise at a $300 million FDV, with a fixed-price lottery system for the public. Translation: Full allocation if selected. Refunds if not. Plus, Patron NFT holders get guaranteed allocations.
And of course, MegaETH delivered the plot twist of the week. After its USDm pre-deposit launch spiraled into outages, instant cap fills, and a multisig misconfiguration that reopened deposits early, the team has decided to refund everything.
Bread says, "Spent a lot of time thinking on this, and ultimately decided to just reset everything.”
All capital will be returned once audit checks finish, and the pre-deposit bridge will reopen closer to Frontier mainnet, hopefully with fewer jump-scares next time.
👇 And if you haven’t yet, hit subscribe below 👇
The important bits.
Accounts on XO Market support private mode, details here.
Magic Newton quickstart guide, read here.
$1.5 million $D minted since launch, driving growth to the Saga DeFi ecosystem, details here.
Kintsu’s sMON goes live on Bean Exchange, details here.
Two days left to participate in stage 1 of Kyan’s trading competition, for a share of 1,200,000 Krystals, hop on.
Tapestry is building the infra for social agentic commerce, here’s how.
Jumper clocks in $171 million in 24-hour volume, details here.
Doma Protocol is live on Stargate, read here.
The fomo team is hosting an AMA in their Discord at 3:30 EST on Monday, join here.
Even more important bits.
Polygon’s Global Head of Payments and RWA, says stablecoins are entering a “super cycle,” read here.
Balancer plans to distribute $8 million in recovered funds from the $128 million exploit, read here.
Do Kwon requests 5-year prison term cap in $40 billion Terra fraud case, read here.
Kalshi doubles valuation in weeks, details here.
Securitize wins EU approval to operate a tokenized trading and settlement system, read here.
Charts and stats of the day.
Bitcoin onchain indicators are bearish, chart here.
$15.4 billion in BTC and ETH options expire today, chart here.
Memecoin trading volume now accounts for under 5% of Solana’s daily DEX volume, stats here.
Monad flips Ethereum in 24 hour stablecoin supply changes with $3.8 billion, stats here.
ICYMI.
Today’s bulletin:
Telemetry data of the day.
Top trending tokens for the last 24h:
If you want to access more of this type of data and trade freshly graduated tokens on PumpFun or Bonk, visit Telemetry here (it’s free).
Infinex is shaping up to be one of the more ambitious “superapp” plays in crypto, a non-custodial, cross-chain platform that feels like Binance on the front end but stays fully onchain under the hood.
Instead of juggling seed phrases, gas fees, and five different apps, you get a unified dashboard for sending, swapping, staking, bridging, farming, and tracking portfolios across multiple chains.
It gives the CEX experience without the CEX risk, thanks to account abstraction, passkey logins, and zero-gas trading baked right in.
What really sets it apart from the usual DEX crowd is how aggressively it removes friction. No fragmented interfaces. No chain-hopping.
Additionally, no seed phrase anxiety. Just smooth, centralized-style UX with DeFi transparency and self-custody. You also get real-time analytics, built-in fiat on-ramps, Patron NFT perks, and a terminal that works for both casual traders and power users.
The big moment now is the Sonar Sale, i.e. Infinex’s public raise and token launch. As earlier mentioned, it’s selling 5% of $INX for a $15 million raise at a $300 million FDV, with orders between $200–$5,000 after KYC. If the sale oversubscribes, it switches to a fair lottery with full refunds for non-winners.
Patron NFT holders get guaranteed allocations (from $2k for one Patron all the way to $500k for 100). Tokens lock for a year, unless you pay an early-unlock fee that shrinks as FDV rises. The TGE is slated for January 15, 2026.
Between the tech, the UX, the Kain Warwick backing, and now a public auction open to everyone, it’s giving off major ICO-era energy.
To save you doom scrolling.
Atleast something is in its higher-highs phase.
If the last 24 hours proved anything, it’s that regardless of what the market does, crypto as an industry never misses a chance to groove to the chaos.
Hold your breath (and bags), touch some grass, and we’ll see you back right here on Monday!
Edyme, Lavina 🫡
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