Syndicate Labs attacked, 18.5 million SYNDs transferred

The Federal Reserve accepted $8.261 billion from 12 counterparties in fixed rate reverse repurchase operations.

Peter Schiff criticized the cryptocurrency industry for being dominated by speculation, stating that its operation is consistent with Trump's influence and promotes overvalued assets to investors. （Cointelegraph）

Senators Elizabeth Warren and Ron Wyden sent letters to Howard Lutnick and Tether CEO Paulo Ardoino asking about a loan Tether reportedly made to Lutnick's family. What to know : Two prominent U.S. Senate Democrats are questioning Secretary of Commerce Howard Lutnick and the CEO of Tether, Paulo Ardoino, about reports that the stablecoin company provided substantial lending to a trust that helped finance the transfer of Lutnick's former company, Cantor Fitzgerald, to his adult children. Senators Elizabeth Warren and Ron Wyden said that any such lending "would raise serious questions" about Lutnick's relationship with the foreign stablecoin issuer.

Senator Scott stated that the Bitcoin and Crypto Transparency Act is ready to advance to the marking stage, and all 13 Republicans will vote in favor. Trump is expected to sign the bill this summer. （The Bitcoin Historian）

Syndicate Labs has revealed a private key leak attack, in which attackers maliciously upgraded cross chain bridge contracts by infiltrating development endpoints, resulting in the transfer of approximately 185 million SYNDs and approximately $50000 in user assets. The losses include the sale of approximately 185 million SYNDs from Commons Bridge, equivalent to approximately $330000; Another Appchain has transferred approximately $50000 worth of user assets. Syndicate Labs has stated that it will fully compensate affected users and provide excess compensation.