Now Playing
Edel Exploit, Q2 Close -25% & SEC Novel ETF Window | Jul 1
Audio is available on Spreaker — see link below.
A wrapped Google stock exploit drained $403K by inflating collateral 78x — exposing the unsolved security layer in RWA tokenization. ETH closes Q2 down 25%, whale accumulation diverges from ETF outflows, and the SEC opens a 60-day comment window on crypto ETF frameworks.
Audio is available on Spreaker — see link below.
A protocol lending against wrapped Google stock just lost four hundred and three thousand dollars because an attacker inflated the collateral value seventy-eight times. That's not a rounding error.
The important distinction here is that RWA tokenization has two separate security surfaces. There's the price feed layer, which is the oracle problem the industry spent years hardening.
Edel wasn't the only loss this month. June saw forty major exploits across crypto totaling seventy-five point eight seven million dollars.
On price, Ethereum closed Q2 down twenty-five point four three percent, completing the first-ever three consecutive losing quarters in its history. That's a sixty-two percent total drawdown since September twenty twenty-five.
On the ecosystem side, Aave logged eighteen hundred and six new wallets in a single twenty-four-hour window on June thirtieth, the highest daily figure since October twenty twenty-one. That's tied to the V4 upgrade rollout and its Smart Value Recapture mechanism.
One more signal worth holding. The SEC opened a sixty-day public comment period on June thirtieth covering how to regulate novel ETFs, including leverage products, prediction market contracts, and crypto instruments.
Chapter summary auto-generated from the verified script. Listen to the full episode for the complete content.