Good Morning Lions,
A white-hat security researcher just recovered $2 million in ETH that's been locked in a failed 2016 ICO smart contract since the HongCoin token sale missed its funding goal. Integer-overflow vulnerability, nine years of dormancy, 48 investors getting refunds they'd written off — this is the kind of story that reminds you why audits matter and why old code never really dies.
Kraken's moving fast on the regulatory green light. CFTC approval just dropped, and Kraken's launching Bitcoin perpetual futures within 30 days — joining Coinbase and KalshiEX in the institutional derivatives race. The plumbing's getting built out, and the institutions are ready to trade.
Meanwhile, Powell's drawing a line in the sand on Fed independence, a $293 billion lawsuit's claiming Satoshi's wallets, and Wintermute's bringing serious liquidity to prediction markets. The infrastructure's getting tighter, the regulatory clarity's coming, and the capital's moving. Let's get into it.
White-hat researcher recovers $2M in trapped ETH from nine-year-old HongCoin vulnerability. Kraken launching CFTC-regulated Bitcoin perpetual futures within 30 days. Powell warns Fed credibility at risk if president can fire officials. Wintermute extends trading to prediction markets with two-sided liquidity. Anonymous plaintiff sues for 3.8M Bitcoin including Satoshi's wallets.
TL;DR: A security researcher discovered an integer-overflow vulnerability in the HongCoin ICO smart contract and recovered approximately $2 million worth of ETH trapped since 2016. The fix enabled refunds to 48 investors who'd been waiting nearly a decade — a reminder that old code stays vulnerable until someone audits it.
TL;DR: Kraken expects to launch CFTC-regulated perpetual futures tied to Bitcoin's spot price within 30 days, following fresh regulatory approval from the Commodity Futures Trading Commission. Coinbase and KalshiEX already have approvals; the institutional derivatives infrastructure is accelerating.
TL;DR: Federal Reserve Chair Jerome Powell warned that allowing a sitting president to dismiss Fed officials over policy disagreements would destroy the institution's credibility and destabilize markets. The comments come as President Trump has threatened to remove him, and central bank independence faces renewed political pressure.
TL;DR: Wintermute, which handles $3.5 trillion in annual trading volume, announced it's extending institutional trading to prediction markets, posting continuous bid-ask spreads on leading venues. This is the kind of market-maker move that signals institutional capital is getting serious about prediction market infrastructure.
TL;DR: An anonymous plaintiff filed a lawsuit in New York Supreme Court claiming ownership of approximately 3.8 million Bitcoin, including wallets believed to belong to Satoshi Nakamoto, worth an estimated $293 billion. The case relies on New York's abandoned property laws dating to 1958 — a legal theory that's unlikely to hold, but it's filed.
TL;DR: Nvidia CEO Jensen Huang launched the Nemotron 3 Ultra AI model at Computex 2026, featuring 500–550 billion parameters and up to 5x higher throughput than previous versions. The keynote positioned Nvidia as a full-stack AI platform company rather than a chipmaker — the infrastructure thesis keeps winning.
Three things on my radar: whether the HongCoin recovery signals a wave of old-code audits, how fast Kraken's derivatives desk ramps, and whether Powell's Fed independence stance holds under pressure. Catch you tomorrow. — Khal
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More crypto news, daily, at news.leodex.io. The Daily LEO · Written by the LEO Team, Edited by Khal.
