The crypto world packed in another wild week of headlines — from Gemini’s $4B IPO run to WLFI’s radical buyback plan and Polygon’s fork drama. SwissBorg’s $41M hack kept security in focus, while Linea and Hyperliquid grabbed attention for very different reasons. Here’s the rundown you might’ve missed.
Top Headlines of the Week
WLFI’s Bold Buyback Gambit
WLFI kept itself in headlines as the community voted on a dramatic 100% buyback-and-burn plan. The move followed last week’s decision to freeze 272 wallets tied to security threats — a step that divided opinions.
If the buyback goes through, WLFI could drastically cut supply and potentially spark a new narrative around the token’s value. It’s bold, it’s risky, and everyone’s watching.
SwissBorg Covers $41M Hack
Security fears returned after SwissBorg confirmed $41 million worth of SOL had been drained in a hack. The platform promised users won’t shoulder the loss, taking responsibility for the hit itself. Partner firm Kiln also pulled back from ETH validator operations to limit further risks.
Polygon’s Fork to the Rescue
Polygon had a shaky week after block finality delays rattled users and the market. Developers quickly pushed a hard fork, restoring consensus and helping POL recover. The patch worked, but it also showed that even big scaling networks can slip.
Linea Faces Rough Waters
Linea Network also stumbled with a 46-minute production halt. Tensions rose further after backlash over its airdrop strategy, forcing Consensys CEO Joseph Lubin to step in and promise smoother operations ahead.
Hyperliquid’s Governance Test
Hyperliquid locked in September 14 for its USDH vote, a key moment for the project’s future. Ethena pulled out to focus on product work, leaving Native Markets as the frontrunner. The outcome will decide who takes charge of stablecoin issuance inside the ecosystem.
Gemini Steals the Spotlight With $4B IPO Push
Gemini made the week’s biggest splash, driving a $4 billion IPO wave. It showed how exchanges are leaning into Wall Street to boost credibility. Right after, CoinShares revealed its own Nasdaq listing plan in a $1.2B deal with Vine Hill Capital. Together, the moves fed the sense that IPO fever in crypto is only getting started.
Nemo Protocol’s Costly Mistake
Nemo Protocol suffered a $2.6M exploit tied to unaudited code pushed live too soon. The fallout reignited debate about developer responsibility and why audits remain non-negotiable for projects heading to mainnet.
Crypto in Nepal’s Protests
Far from trading floors, crypto showed up where it mattered most in Nepal. Deadly protests shut down normal communication, and Bitchat became the people’s lifeline. Messages, updates, warnings — everything flowed through it. A stark reminder that crypto isn’t just about markets; sometimes it’s about survival.
News You Might Have Missed
- Galaxy Digital bought $536M worth of Solana from Binance and Bybit, showing that big institutions are still betting on crypto.
- SSV Labs said everything’s fine after some validator slashing incidents and reassured users the protocol is safe.
- CoinShares is going public through a $1.2B deal with Nasdaq-listed Vine Hill Capital, marking its U.S. debut.
- Coinbase vs. SEC escalated as the exchange dragged the regulator to court over allegedly deleted messages from Gary Gensler.
- THORChain’s co-founder was duped out of $1.3M in a Zoom scam, showing how social engineering threats are getting sharper.
Top Highlight
This week, the crypto world narrowly avoided chaos after a JavaScript NPM supply chain attack. Malicious code was injected into popular packages like Chalk, Strip ANSI, and Color Convert, which together see over a billion downloads weekly. The code aimed to swap crypto wallet addresses and hijack transactions.
Fortunately, the attack was spotted when an old Node.js version crashed, revealing the obfuscated code. If unnoticed, it could have caused massive losses across the ecosystem.
What to Expect Next Week?
Next week, all eyes will be on Hyperliquid as the USDH governance vote takes place. WLFI’s buyback plan is also in the spotlight and could shift how people feel about the token. Polygon will need to prove its network is stable after the recent fork, while the SwissBorg hack fallout will still be talked about. On the institutional side, traders will watch closely to see if the IPO momentum keeps building.
