It was a rough week for trust in crypto. RaveDAO’s token collapsed by 85% in a single session after allegations that insiders controlled nearly all of the circulating supply, and the team’s own response made things worse.
Meanwhile, an Ethereum-backed security effort revealed that roughly 100 suspected North Korean operatives had quietly embedded themselves inside 53 Web3 projects.
And if that wasn’t enough, a counterfeit Ledger device surfaced with a hidden Wi-Fi chip designed to steal your seed phrase.
These were the week’s biggest stories, and there’s plenty more where that came from. Read the full recap below.
RaveDAO Crashes 85% as Insider Selling Allegations Rock the Token
RaveDAO’s RAVE token collapsed from an all-time high of $27.94 to around $3.35 in a single session after on-chain investigator ZachXBT alleged that insiders controlled over 90% of the circulating supply. The team’s mid-crash admission that it plans to sell unlocked tokens to fund operations accelerated the selloff, triggering $48 million in liquidations.
Worldcoin Partners With Shopify, Zoom, and Tinder as WLD Eyes Rebound
Sam Altman’s World announced major partnerships with Shopify, Zoom, Tinder, Coinbase, and others to bring its proof-of-human verification mainstream. WLD is trading at $0.27, down sharply from its $2.20 peak, but a falling wedge pattern and bullish RSI crossover suggest a potential rally toward $0.50.
Flow Capital Moves $150M Private Credit Fund Onchain
Hong Kong’s Flow Capital Partners is tokenizing its $150 million private credit fund on Singapore’s MAS-regulated DigiFT platform by month’s end, allowing investors to subscribe using fiat or stablecoins. The firm aims to raise another $30 million through tokenized shares and scale the strategy to $250 million by the end of 2026.
Fake Ledger Hardware Wallet Found With Hidden Wi-Fi Chip and Seed Phrase Trap
A Brazilian researcher bought a counterfeit Ledger Nano S Plus from a Chinese marketplace that failed Ledger’s authenticity check and contained a hidden Wi-Fi antenna. The device was built to harvest users’ 24-word recovery phrases via a fake app, giving scammers full access to victims’ crypto wallets.
Ethereum Security Program Unmasks 100 North Korean Crypto Infiltrators
An Ethereum Foundation-backed security effort has identified roughly 100 suspected North Korean IT workers embedded inside 53 Web3 projects. Using on-chain analysis and GitHub pattern-matching, investigators traced operatives who posed as remote developers through legitimate hiring channels. Some projects have since cut access, rotated keys, and frozen linked funds.
Circle CEO Sees Yuan Stablecoin as China’s Ticket to Global Currency Clout
Circle CEO Jeremy Allaire says a yuan-backed stablecoin could help China expand the global reach of its currency, potentially launching within 3 to 5 years. Speaking in Hong Kong, he framed it as an offshore option, noting that currency influence now depends on features such as 24/7 transfers and low fees.
Dogecoin Flatlines as ETF Demand Dries Up and X Money Hype Fades
Dogecoin is stuck near $0.095, down from a $0.155 yearly high, with its spot ETFs holding just $10 million in assets, a fraction of Solana’s $817 million. Senator Elizabeth Warren’s warnings about X Money have also dented hopes that Elon Musk’s super app will meaningfully boost DOGE.
Justin Sun Calls WLFI Vesting Proposal a “Trap Door” for Investors
Tron’s Justin Sun has publicly attacked World Liberty Financial‘s new token vesting plan, calling it a punishment that locks investors’ tokens indefinitely. Sun, whose voting power is already frozen due to an earlier blacklist, argues that the proposal violates property rights and serves as a governance pressure tool, not a fair vote.
Robinhood Stock Eyes All-Time High After SEC Scraps Day Trading Rule
Robinhood shares have rebounded from $63 to $90, with analysts targeting $120 next. The SEC’s decision to scrap the Pattern Day Trader rule is expected to drive more trading activity on the platform. A $1.5 billion share buyback and strong EPS forecasts are adding further upside pressure.
Chiliz Breaks Five-Year Downtrend, Eyes 10x Move to $0.40
Chiliz has broken out of a near-five-year descending resistance trend, with volume surging 284% to $159M and CHZ jumping 15.88%. Analyst Javon Marks confirmed the breakout, targeting $0.40-plus. The 2026 FIFA World Cup narrative, new SEC clarity on fan tokens, and a mint-burn tokenomics overhaul are fueling the bull case.
Bitcoin Developers Want to Freeze $74B in Quantum-Vulnerable Coins
A new Bitcoin proposal, BIP-361, would eventually freeze roughly 6.5 million BTC, including Satoshi-era holdings, unless owners migrate to quantum-resistant addresses. The three-phase plan gives users years to move funds before legacy signatures become invalid, with an optional zero-knowledge proof recovery path for stragglers.
DOJ Opens Compensation Claims for OneCoin Fraud Victims
The U.S. Department of Justice has opened a formal claims process for victims of OneCoin, one of crypto’s biggest scams. Anyone who lost money can now file with supporting documents. Payouts aren’t guaranteed and depend on forfeited assets. Co-founder Ruja Ignatova remains a fugitive; other executives have already been convicted.
AAVE Breaks $100 as Landmark Governance Vote Unlocks New Revenue Streams
AAVE jumped 9.4% past $100 on 108% higher volume after its “Aave Will Win” governance proposal passed, routing product revenue from Aave Pro, App, and Horizon directly to token holders. Analysts are eyeing $150 as the next target, with macro charts pointing to $329–$610 as the long-term target.
SEC Gives DeFi Front-Ends a Path to Operate Without Broker Licenses
The SEC has clarified that some crypto DeFi interfaces can avoid broker-dealer registration if they never hold user funds, don’t exercise trading discretion, and don’t make targeted recommendations. Apps that quietly add off-chain routing or act as intermediaries won’t qualify and will still be subject to full securities rules.
