$290M KelpDAO Exploit, USDT Surges on Solana, Toly's 5 $SOL Challenge & More | Solana Weekly News
This week in the SolanaFloor newsroom: KelpDAO loses $290M to Lazarus Group as contagion hits Solana lending rates, Tether's USDT supply on Solana surges 16% in 7 days as Circle loses community trust. Plus, Polymarket and Kalshi enter the perps arena while Solana remains sidelined, Toly challenges hackers to crack his immutable app for a 5 SOL prize, and Singapore's 88 year old OCBC tokenizes a $526M gold fund on Solana, while CT debates whether Solana's PvP memecoin culture is costing the chain.
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Full stories covered in this episode:
📍 $280M KelpDAO Exploit Forces DeFi Liquidity Crunch — Is Solana Safe? https://solanafloor.com/news/280m-kelp-dao-exploit-forces-defi-liquidity-crunch-solana-safe
📍 Tether's $USDT Supply on Solana Jumps Over 14% in 7 Days https://solanafloor.com/news/tether-s-usdt-supply-on-solana-jumps-over-14-in-7-days
📍 Polymarket, Kalshi Enter Perps Arena, Solana Sidelined in Both Sectors https://solanafloor.com/news/polymarket-kalshi-enter-perps-arena-solana-sidelined-both-sectors
📍 "Return to Open Source Immutable Software" — Solana Co-Founder Issues Challenge to DeFi Community https://solanafloor.com/news/return-open-source-immutable-software-solana-cofounder-issues-challenge-defi-community
📍 OCBC Brings $526M Physical Gold Fund Onchain with $GOLDX Launch on Solana https://solanafloor.com/news/ocbc-brings-526-m-physical-gold-fund-onchain-with-goldx-launch-on-solana
📍 Traders Blame 'PvP Culture' for Solana's Languishing Memecoin Market https://solanafloor.com/news/traders-blame-pv-p-culture-for-solana-s-languishing-memecoin-market
$290M KelpDAO Exploit, USDT Surges on Solana, Toly's 5 $SOL Challenge & More | Solana Weekly News
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Tether's $150M Drift Rescue, Solana's $1.1T ATH, SEC DeFi Green Light & More | Solana Weekly News
$370M $PUMP Burn Backfires, $2.5B RWA ATH, Meta $USDC Payments On Solana | Solana Weekly News
More from Solana Weekly News
ETF Inflows Surge, $20M BONK Blunder, Robinhood Memecoin Boom & more | Solana Weekly News
Top Solana Stories Of The Week Bitcoin ETFs recorded $772M in single-day inflows and Solana ETFs are back in positive territory after a brutal June. Solana reclaimed #1 spot for network revenue for the first time in 4 months. Solana Mobile unveiled Seeker Summer with a full Q3 roadmap. BONK DAO lost $20 million in a governance blunder. Sanctum Mobile App crossed 9,000 users in its first week — offering up to 8% APY on your SOL. And Robinhood is now offering Solana memecoin trading to its 24M+ retail users as $CASHCAT goes parabolic. STORY LINKS 📍 Bitcoin and Solana ETFs See Inflows Again https://solanafloor.com/news/bitcoin-and-solana-etfs-see-inflows-again 📍 Seeker Summer: Here's Everything You Need to Know https://solanafloor.com/news/seeker-summer-here-s-everything-you-need-to-know 📍 $20M of Treasury Funds Lost in BONK DAO Governance Blunder https://solanafloor.com/news/20-m-of-treasury-funds-lost-in-bonk-dao-governance-blunder 📍 Sanctum Mobile App Attracts Over 9,000 Users Following Strong Launch Week https://solanafloor.com/news/sanctum-mobile-app-attracts-over-9-000-users-following-strong-launch-week 📍 Solana Reclaims No.1 Spot for Network Revenue After 4 Months https://solanafloor.com/news/solana-reclaims-no-1-spot-for-network-rev-after-4-months-as-onchain-demand-explodes 📍 Solana Memecoin Traders Flock to Robinhood — Will It Last? https://solanafloor.com/news/solana-memecoin-traders-flock-to-robin-hood-will-it-last
Ansem Revives the Trenches, Trump's $1B+ Crypto Payday, CLARITY Falls | Solana Weekly News
Top Solana Stories Of The Week Insane week. Ansem's memecoin The Black Bull rips to $100M in 24 hours, reviving the trenches. World launches Solana-native prediction market powered by Chainlink right before the FIFA World Cup. Open Standard unveils $OUSD stablecoin backed by BlackRock, Google, Visa, Stripe, and 140+ partners, launching on Solana Day One. Grass farmers furious with Stage 2 USDC rewards. Solana quietly launches the most advanced onchain governance system in crypto. Plus wildcards: CLARITY Act odds crash to 49% and Donald Trump discloses over $1.14 BILLION in crypto income for 2025.Jack Dunham, Finn Miller, and Thomas Bahamas break it all down. STORY LINKS 📍 $ANSEM Rips to $100M in 24 Hours — But Can It Actually 'Save the Trenches'? https://solanafloor.com/news/ansem-rips-to-100-m-in-24-hours 📍 World Launches Solana-Native Prediction Market, Powered by Chainlink https://solanafloor.com/news/world-launches-solana-native-prediction-market-powered-by-chainlink 📍 Open Standard Unveils $OUSD, a Stablecoin For the Internet Economy https://solanafloor.com/news/open-standard-unveils-ousd-a-stablecoin-for-the-internet-economy 📍Trump Reports Over $1.14 Billion in Crypto Income https://solanafloor.com/news/trump-reports-over-1-14-billion-in-crypto-income 📍 Grass Farmers Furious with Disappointing Stage 2 Rewards https://solanafloor.com/news/grass-farmers-furious-with-disappointing-stage-2-rewards 📍 Solana Launches Onchain Governance, Giving Stakers a Direct Voice in Protocol Decisions https://solanafloor.com/news/solana-launches-onchain-governance 📍 WILDCARD: CLARITY Act Approval Odds Drop to 49% as Time Runs Short https://solanafloor.com/news/clarity-act-approval-odds-drop-to-49-as-time-runs-short
Bitcoin's Worst Day in Months | $1.2B Liquidations, Is The Bottom In?
Backpack and Sunrise list tokenized Micron ($MU) on Solana for 24/7 trading right ahead of earnings — then we run Solana’s report card against Galaxy’s Q1 critique. Bitcoin drops to its lowest level since October 2024 as $1.2B is liquidated and fears mount over Strategy’s $STRC traders and investors are wondering if this is the bottom? Plus Arcium launches $ARX to a mixed community reaction, Solana gaming roars back with Kintara, Solstice and TensorX unveil an up-to-$1B facility to power Europe’s AI future, and MoneyGram becomes a Solana validator as the two biggest remittance firms go onchain. STORY LINKS 📍 Backpack, Sunrise to List $MU on Solana Ahead of Micron Earnings Report https://solanafloor.com/news/backpack-sunrise-to-list-mu-on-solana-ahead-of-micron-earnings-report 📍 Is This The Bottom? Bitcoin Hits October 2024 Lows https://solanafloor.com/news/is-this-the-bottom 📍 Arcium Launches $ARX Token to Mixed Community Reaction https://solanafloor.com/news/arcium-launches-arx-token 📍 Is Kintara Reviving Solana’s Gaming Sector? https://solanafloor.com/news/is-kintara-reviving-solana-s-gaming-sector 📍 Solstice and TensorX Announce Plans for Up to $1 Billion Facility to Power Europe’s AI Future https://solanafloor.com/news/solstice-and-tensor-x-announce-plans-for-up-to-1-billion-facility 📍 MoneyGram Launches Solana Validator as Global Payments Giant Steps Into Network Infrastructure https://solanafloor.com/news/money-gram-launches-solana-validator =============== About SolanaFloor: SolanaFloor is Solana's #1 news and education source. 🔗 Links 🔗 👉 Follow Jack Dunham: https://x.com/_JackDunham 👉 Follow Thomas Bahamas: https://x.com/Thomasbahamas SolanaFloor 👉 https://solanafloor.com 👉 https://x.com/SolanaFloor 👉 Newsletter: https://solanafloor.substack.com Stay ahead of the curve 🚀 Don’t forget to like, subscribe, and hit the bell to stay updated on all things Solana. Visit us at solanafloor.com for more detailed articles and updates.🚀