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BTC $79,051.80 -2.77%
ETH $2,219.00 -3.27%
BNB $672.90 -0.93%
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SOL $89.11 -3.90%
TRX $0.3514 -0.77%
DOGE $0.1129 -2.30%
ADA $0.2604 -4.43%
BCH $424.75 -2.87%
LINK $10.02 -5.28%
HYPE $44.19 -0.57%
AAVE $92.48 -6.85%
SUI $1.09 -8.17%
XLM $0.1540 -6.14%
ZEC $513.86 -5.23%

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After being attacked, KelpDAO has seen multiple protocols abandon LayerZero, with $4 billion in assets migrated to Chainlink CCIP

After KelpDAO was attacked, resulting in a loss of $292 million, the industry's scrutiny of the security of cross-chain infrastructure has intensified. Approximately $4 billion in assets have completed or are in the process of migrating from LayerZero to Chainlink's Cross-Chain Interoperability Protocol (CCIP). The DeFi protocol Lombard is the latest project to join this migration trend. The protocol announced it would discontinue the use of LayerZero and migrate over $1 billion in Bitcoin-backed assets to Chainlink CCIP, stating that this decision stemmed from a comprehensive internal security review following the April attack incident.Lombard issues two types of Bitcoin-backed tokens—LBTC and BTC.b—and will prioritize the migration of assets on chains such as Solana, Etherlink, Berachain, Corn, and TAC, while terminating the use of LayerZero on Morph and Swell. Lombard stated that the reason for choosing CCIP is its independent node operators, built-in rate limiting mechanisms, and audited infrastructure. Additionally, the protocol will adopt Chainlink's cross-chain token standard to facilitate asset cross-chain circulation through a burn-and-mint model.Previously, Kelp DAO, Solv Protocol, Re, and the cryptocurrency exchange Kraken have all completed similar migrations, with these projects collectively transferring approximately $4 billion in assets. Chainlink Labs Chief Business Officer Johann Eid stated, "We are witnessing a continued wave of risk-averse migration within the industry."

SpaceX is expected to publicly file its prospectus next week, aiming to raise over $70 billion

According to CNBC, SpaceX plans to publicly release its IPO prospectus as early as next week, aiming to start a global roadshow on June 8 to formally introduce the deal to investors. The company secretly submitted its IPO application in April this year. This IPO is expected to become the largest in history. In February this year, SpaceX completed a merger with Elon Musk's artificial intelligence company xAI, resulting in a post-merger entity valuation of $1.25 trillion. Reports indicate that the company's target fundraising scale for the IPO is about $70 billion to $75 billion, more than double the record set by Saudi Aramco in 2019. The expected valuation for the SpaceX IPO has risen from $1.75 trillion to $2 trillion. According to regulations, the prospectus must be made public at least 15 calendar days before the roadshow begins, but SpaceX and its advisors hope to disclose it earlier to give investors more time to digest the financial data. Due to the unprecedented scale of this stock sale, SpaceX's advisory team is seeking special sales channels, particularly targeting retail investors outside the U.S. who prefer long-term holdings, including engaging with brokers in countries such as the UK, Japan, and Canada to secure allocation shares for their clients. As a result of this news, satellite and space concept stocks like Redwire, AST SpaceMobile, and Rocket Lab surged by 22.08%, 10.96%, and 6.77% respectively on the 14th.
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