“`html
Today in cryptocurrency, US President Donald Trump avoided inquiries regarding divesting from crypto endeavors amid political strain over digital asset regulations. Founders of Across Protocol faced allegations of misdirecting $23 million in tokens, with infrastructure breaches flagged as the source of most of the $2.1 billion lost in crypto this year.
Trump dodges inquiry on crypto divestment to facilitate crucial bills
US President Donald Trump did not respond to a journalist’s query about whether he would divest from his family’s crypto businesses to secure the passage of essential cryptocurrency legislation, stating only that if the US didn’t possess crypto, then China or other nations would.
“Numerous Democrats have claimed they won’t endorse crypto legislation in Congress solely because of you and your family’s private crypto activities,” a journalist remarked to Trump during a press briefing at the White House on Friday.
When asked if he would contemplate divesting from his crypto projects to alleviate political strain over digital asset legislation in Congress, Trump replied:
“I have become a supporter of crypto; to me, it’s a sector. I regard it as a sector, and I am president. If we didn’t have it, China would, or someone else would, but most likely China would be eager to, and we have excelled in that sector.”
“We have built a highly influential sector, and that is significantly more critical than any investments we make,” Trump added.
Across Protocol DAO faces scrutiny over claims of $23 million fund misallocation
The creators of the cross-chain bridge Across Protocol have been accused of diverting $23 million of assets to their own profit-oriented business.
In a Friday X thread, Ogle — the anonymous founder of the layer-1 project Glue and on-chain investigator — accused certain creators of Across Protocol of secretly altering decentralized autonomous organization (DAO) votes to finance their profit-driven business, Risk Labs. Ogle labeled the project as one of the “DAOs that are DAOs in name only.”
Hart Lambur, who is the founder of both Risk Labs and Across, refuted the allegations in a separate post. He stated that Risk Labs operates as a nonprofit in the Cayman Islands without any shareholders. He provided a certificate of incorporation and asserted that the entity functions under fiduciary duties.
“If the assets are misappropriated, you can take legal action against the directors (me!),” he remarked.
In an interview with Cointelegraph, Lambur also shared the company’s certificate of incorporation. The document characterizes the firm as a “foundation company.” Cointelegraph successfully confirmed the company’s registration through the Cayman Island’s online general registry.
Nonetheless, the law firm Harneys clarified in its Cayman Islands foundation company guide that such companies can pursue any objective, “whether commercial, charitable/philanthropic, or private.”
Crypto seed phrases and front-end hacks lead to unprecedented losses in 2025
Infrastructure breaches such as private wallet key exploitations and crypto protocol front-end compromises constituted 80% of the $2.1 billion in crypto lost to breaches during the first half of 2025, TRM Labs reported on Thursday.
Protocol exploitations emerged as another highly effective attack strategy, with breaches like flash loan and re-entrancy attacks representing 12% of crypto losses in the year’s initial half.
The losses during the first six months of 2025 have eclipsed the prior record established in 2022 by roughly 10% and are nearly equal to the total losses from all of 2024, highlighting what TRM Labs described as “an increasingly focused threat to digital assets.”
The $1.5 billion breach of Bybit in February, an assault associated with North Korea, accounted for nearly 70% of the total losses thus far in 2025, with TRM Labs advocating for “multifaceted cooperation” among international law enforcement, financial intelligence units, and blockchain intelligence firms.
Source link
“`
