Summer.fi will wind down operations after a $6.04 million exploit hit its Lazy Summer Protocol on July 6, wiping out the capital the team needed to rebuild. The five-year-old Decentralized Finance (DeFi) platform said the app will remain live until August 31. Summer.fi Closes Doors as July 6 Exploit Wipes Out Rebuild
The Bank of Korea raised its benchmark rate to 2.75% on Thursday, marking its first increase since January 2023 as consumer inflation climbed to a three-year high. The decision lands as South Korea’s stock market swings violently, with chipmakers SK Hynix and Samsung Electronics leading steep losses on Thursday.
Peter Schiff attacked Bitcoin and Michael Saylor on July 15, predicting a slide to $20,000 (nearly 70% below current prices) and questioning MicroStrategy’s decision to sell stock rather than BTC. The economist argues that Saylor is trapped and that holders who refuse to sell today will regret it soon. Schiff Targets