RaaS #550: Yearn Finance Suffers $9M Exploit!

Ripple Expands in Singapore, LINK ETF Arrives This Week, and Moar!

Yearn Finance took a hard hit after an attacker minted near-infinite yETH and drained the pool in one go. The team says the exploit came from a custom stableswap contract (not V2/V3), and early analysis shows Balancer-level complexity. Post-mortem is underway.

Monad CEO Keone publicly responded to Arthur Hayes’ “99% crash” doompost, calling out the repeated shots while still crediting Arthur for his impact on the industry. CT loves a respectful clapback.

Telegram’s founder, Pavel Durov, just shipped Cocoon, a decentralized confidential compute network that processes AI requests with full privacy. GPU owners are already earning TON, while Web2 compute providers are shaking in their centralized boots.

Shayne Coplan says his 60 Minutes episode is airing tonight, because yes, the founder of Polymarket is now one of the youngest billionaires on earth. CT’s prediction prince has officially gone mainstream.

My hobby is talking about my job.

Ripple scored MAS approval to expand its Major Payment Institution license, unlocking fully licensed, end-to-end payment services across Singapore. The APAC expansion arc continues.

ETF analyst Nate Geraci confirms Grayscale’s Chainlink Trust is being converted into the first spot LINK ETF. A big moment for oracles, and for Chainlink cultists who have been waiting since 2017.

Your daily dose of bite-sized crypto news.

1. OffGrid dropped a no-KYC encrypted card that lets you load crypto and swipe anywhere with zero ID.

2. TRON pushed java-tron 4.8.1 to the Nile testnet, bringing performance boosts, tighter security, better EVM compatibility, and expanded ARM support.

3. Bitcoin slid 5% as crypto nuked $150B in market cap, with $600M in liquidations and, of course, no actual news driving it.

4. Ghostware published its multi-year roadmap, aiming to become Solana’s default privacy layer as it expands its tooling and ecosystem.

5. China reaffirmed its full crypto ban, tightening enforcement on stablecoins and offshore channels.

Mina’s Mesa testnet is officially live, kicking off public testing for its next major upgrade and upcoming hard fork. Early test mode enabled, ZK enjoyers, assemble!

Strategy’s CEO, Phong Le, clarified in a recent interview that the firm would only sell BTC if its stock trades below NAV and no financing options remain. In short, Bitcoin is not going anywhere unless the company is on fire.

It’s Decembull, everyone!

Top gainers: PIPPIN, PIEVERSE, TRADOOR, LIGHT, FOLKS

High-signal reads are worth your time, all in one place.

1. Arndxt concludes markets now move on flows, Fed tone, and buyback windows, not fundamentals; energy will be the true bottleneck for AI, and crypto is turning into a generational political asset.

2. MegaEth's co-founder Brother Bing argues that “alts” is a busted label. Value comes from a clear villain and a clear problem to solve, not catchy specs and hype, so stop arguing valuations and start defining whom you’re fighting.

3. Matyv assures that 2026 is when institutions and compliant rails go from demos to production. The blockers are being solved, so expect explosive institutional inflows and real-world cash plugging into DeFi next year.

4. Bolivia is lining up over $9B in multilateral financing, nearly double initial estimates, to stabilize an economy hit by inflation, FX shortages, and years of stalled investment.

5. Hyperliquid Research Collective’s article lays out precisely how Hyperliquid has grown triple-digits YTD with almost no marginal cost.

SAHARA token shocked many on November 29 when it plummeted by over 50% within minutes, prompting speculation from community members about what happened. The team says no hacks, no contract issues, and no insider unlocks until mid-2026, assuring all token contracts are fully secure and properly managed by the Sahara Foundation.

Vitalik says Zcash should avoid the “dark hand” of token voting, arguing privacy governance will decay if left to median holders. Translation: token voting is bad for long-term privacy, don’t touch it.

That’s all for today!