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Aave User Loses $50 Million in Swap Gone Wrong, Protocol to Refund $600K in Fees
A crypto investor just turned $50 million into roughly $36,000 in a single transaction. Not from a hack, not from a protocol failure — from clicking confirm on a trade that every warning in the interface was telling them not to make.
The unnamed user attempted to swap 50.43 million USDT for Aave tokens through the Aave protocol. What they received in return was 324 AAVE — worth approximately $36,238 at the time of execution. The rest was captured almost instantly by arbitrage MEV bots.
Stani Kulechov: This Wasn’t Slippage. The User Accepted the Terms.
Aave founder Stani Kulechov addressed the incident directly on X, drawing a clear line between a protocol failure and what actually happened here.
The technical issue, he explained, wasn’t slippage in the traditional sense — it was price impact. A $50 million single-order swap on a liquidity pool of this size was always going to obliterate the price. The interface knew it. The warnings fired. The user confirmed anyway.
“Given the unusually large size of the single order, the Aave interface, like most trading interfaces, warned the user about extraordinary slippage and required confirmation via a checkbox. The user confirmed the warning on their mobile device and proceeded with the swap, accepting the high slippage, which ultimately resulted in receiving only 324 AAVE in return.”
On the router side, Kulechov was equally direct:
“The CoW Swap routers functioned as intended, and the integration followed standard industry practices. However, while the user was able to proceed with the swap, the final outcome was clearly far from optimal. Events like this do occur in DeFi, but the scale of this transaction was significantly larger than what is typically seen in the space.”
What Happens to the Money
Aave has indicated it will return approximately $600,000 collected in protocol fees from the transaction. The remaining funds — the bulk of the $50 million — were swept up by arbitrage bots the moment the order hit the pool, and are effectively unrecoverable.
The incident was first surfaced by on-chain researchers and users on X, corroborated by blockchain data.
It stands as one of the most expensive user errors in recent DeFi history — not because the protocol broke, but precisely because it worked exactly as designed.
The unnamed user attempted to swap 50.43 million USDT for Aave tokens through the Aave protocol. What they received in return was 324 AAVE — worth approximately $36,238 at the time of execution. The rest was captured almost instantly by arbitrage MEV bots.
Stani Kulechov: This Wasn’t Slippage. The User Accepted the Terms.
Aave founder Stani Kulechov addressed the incident directly on X, drawing a clear line between a protocol failure and what actually happened here.
The technical issue, he explained, wasn’t slippage in the traditional sense — it was price impact. A $50 million single-order swap on a liquidity pool of this size was always going to obliterate the price. The interface knew it. The warnings fired. The user confirmed anyway.
“Given the unusually large size of the single order, the Aave interface, like most trading interfaces, warned the user about extraordinary slippage and required confirmation via a checkbox. The user confirmed the warning on their mobile device and proceeded with the swap, accepting the high slippage, which ultimately resulted in receiving only 324 AAVE in return.”
On the router side, Kulechov was equally direct:
“The CoW Swap routers functioned as intended, and the integration followed standard industry practices. However, while the user was able to proceed with the swap, the final outcome was clearly far from optimal. Events like this do occur in DeFi, but the scale of this transaction was significantly larger than what is typically seen in the space.”
What Happens to the Money
Aave has indicated it will return approximately $600,000 collected in protocol fees from the transaction. The remaining funds — the bulk of the $50 million — were swept up by arbitrage bots the moment the order hit the pool, and are effectively unrecoverable.
The incident was first surfaced by on-chain researchers and users on X, corroborated by blockchain data.
It stands as one of the most expensive user errors in recent DeFi history — not because the protocol broke, but precisely because it worked exactly as designed.
Aave User Loses $50 Million in Swap Gone Wrong, Protocol to Refund $600K in Fees
A crypto investor just turned $50 million into roughly $36,000 in a single transaction. Not from a hack, not from a protocol failure — from clicking confirm on a trade that every warning in the interface was telling them not to make.
The unnamed user attempted to swap 50.43 million USDT for Aave tokens through the Aave protocol. What they received in return was 324 AAVE — worth approximately $36,238 at the time of execution. The rest was captured almost instantly by arbitrage MEV bots.
Stani Kulechov: This Wasn’t Slippage. The User Accepted the Terms.
Aave founder Stani Kulechov addressed the incident directly on X, drawing a clear line between a protocol failure and what actually happened here.
The technical issue, he explained, wasn’t slippage in the traditional sense — it was price impact. A $50 million single-order swap on a liquidity pool of this size was always going to obliterate the price. The interface knew it. The warnings fired. The user confirmed anyway.
“Given the unusually large size of the single order, the Aave interface, like most trading interfaces, warned the user about extraordinary slippage and required confirmation via a checkbox. The user confirmed the warning on their mobile device and proceeded with the swap, accepting the high slippage, which ultimately resulted in receiving only 324 AAVE in return.”
On the router side, Kulechov was equally direct:
“The CoW Swap routers functioned as intended, and the integration followed standard industry practices. However, while the user was able to proceed with the swap, the final outcome was clearly far from optimal. Events like this do occur in DeFi, but the scale of this transaction was significantly larger than what is typically seen in the space.”
What Happens to the Money
Aave has indicated it will return approximately $600,000 collected in protocol fees from the transaction. The remaining funds — the bulk of the $50 million — were swept up by arbitrage bots the moment the order hit the pool, and are effectively unrecoverable.
The incident was first surfaced by on-chain researchers and users on X, corroborated by blockchain data.
It stands as one of the most expensive user errors in recent DeFi history — not because the protocol broke, but precisely because it worked exactly as designed.
The unnamed user attempted to swap 50.43 million USDT for Aave tokens through the Aave protocol. What they received in return was 324 AAVE — worth approximately $36,238 at the time of execution. The rest was captured almost instantly by arbitrage MEV bots.
Stani Kulechov: This Wasn’t Slippage. The User Accepted the Terms.
Aave founder Stani Kulechov addressed the incident directly on X, drawing a clear line between a protocol failure and what actually happened here.
The technical issue, he explained, wasn’t slippage in the traditional sense — it was price impact. A $50 million single-order swap on a liquidity pool of this size was always going to obliterate the price. The interface knew it. The warnings fired. The user confirmed anyway.
“Given the unusually large size of the single order, the Aave interface, like most trading interfaces, warned the user about extraordinary slippage and required confirmation via a checkbox. The user confirmed the warning on their mobile device and proceeded with the swap, accepting the high slippage, which ultimately resulted in receiving only 324 AAVE in return.”
On the router side, Kulechov was equally direct:
“The CoW Swap routers functioned as intended, and the integration followed standard industry practices. However, while the user was able to proceed with the swap, the final outcome was clearly far from optimal. Events like this do occur in DeFi, but the scale of this transaction was significantly larger than what is typically seen in the space.”
What Happens to the Money
Aave has indicated it will return approximately $600,000 collected in protocol fees from the transaction. The remaining funds — the bulk of the $50 million — were swept up by arbitrage bots the moment the order hit the pool, and are effectively unrecoverable.
The incident was first surfaced by on-chain researchers and users on X, corroborated by blockchain data.
It stands as one of the most expensive user errors in recent DeFi history — not because the protocol broke, but precisely because it worked exactly as designed.
Pump.fun Eyes Multi-Chain Expansion Beyond Solana As Subdomain Activity Signals Major Pivot
Pump.fun, the memecoin launchpad that turned Solana into a token factory, may be preparing to go multichain. Researchers have identified active subdomain registrations tied to Ethereum, Base, BNB Chain, and Monad — pointing to what could be the platform’s most significant strategic shift since launch.
A total of 208 subdomains were detected, covering infrastructure for trading APIs, moderation, streaming, and payment services. The breadth of the registrations suggests this isn’t exploratory — it looks like groundwork for a full operational rollout across multiple networks.
Adding fuel to speculation, Pump.fun quietly removed all mentions of Solana from its X profile. In crypto, that kind of profile edit rarely goes unnoticed — and rarely means nothing.
MoonPay Partnership and $1B Milestone Set the Stage
The timing of the expansion signals follows two notable developments. This week, Pump.fun integrated MoonPay to support balance top-ups across nine networks, broadening its on-ramp accessibility well beyond its Solana roots. Separately, the platform crossed $1 billion in cumulative net revenue last week — becoming the first Solana-native application to hit that milestone.
Together, the moves paint a picture of a platform that has outgrown its original chain and is now building for a larger addressable market.
What Pump.fun’s Cross-Chain Push Could Mean for Meme Coins
Pump.fun built its reputation on a dead-simple proposition: launch a memecoin for under $2, no presale, no insiders, just a bonding curve that carries the token toward a ~$90,000 market cap threshold before it graduates to Raydium. That model drove an explosion of token activity on Solana and minted the platform’s nine-figure revenue.
If that same infrastructure lands on Base, BNB Chain, Ethereum, and Monad, the implications for memecoin culture across those ecosystems are significant. Each chain brings its own user base, liquidity profile, and community — and a proven launchpad arriving with $1B in earned credibility could meaningfully accelerate token activity on all of them.
No official announcement has been made by the Pump.fun team. But between the subdomain registrations, the profile update, and the MoonPay deal, the signals are pointing firmly in one direction.
A total of 208 subdomains were detected, covering infrastructure for trading APIs, moderation, streaming, and payment services. The breadth of the registrations suggests this isn’t exploratory — it looks like groundwork for a full operational rollout across multiple networks.
Adding fuel to speculation, Pump.fun quietly removed all mentions of Solana from its X profile. In crypto, that kind of profile edit rarely goes unnoticed — and rarely means nothing.
MoonPay Partnership and $1B Milestone Set the Stage
The timing of the expansion signals follows two notable developments. This week, Pump.fun integrated MoonPay to support balance top-ups across nine networks, broadening its on-ramp accessibility well beyond its Solana roots. Separately, the platform crossed $1 billion in cumulative net revenue last week — becoming the first Solana-native application to hit that milestone.
Together, the moves paint a picture of a platform that has outgrown its original chain and is now building for a larger addressable market.
What Pump.fun’s Cross-Chain Push Could Mean for Meme Coins
Pump.fun built its reputation on a dead-simple proposition: launch a memecoin for under $2, no presale, no insiders, just a bonding curve that carries the token toward a ~$90,000 market cap threshold before it graduates to Raydium. That model drove an explosion of token activity on Solana and minted the platform’s nine-figure revenue.
If that same infrastructure lands on Base, BNB Chain, Ethereum, and Monad, the implications for memecoin culture across those ecosystems are significant. Each chain brings its own user base, liquidity profile, and community — and a proven launchpad arriving with $1B in earned credibility could meaningfully accelerate token activity on all of them.
No official announcement has been made by the Pump.fun team. But between the subdomain registrations, the profile update, and the MoonPay deal, the signals are pointing firmly in one direction.
Pump.fun Eyes Multi-Chain Expansion Beyond Solana as Subdomain Activity Signals Major Pivot
Pump.fun, the memecoin launchpad that turned Solana into a token factory, may be preparing to go multichain. Researchers have identified active subdomain registrations tied to Ethereum, Base, BNB Chain, and Monad — pointing to what could be the platform’s most significant strategic shift since launch.
A total of 208 subdomains were detected, covering infrastructure for trading APIs, moderation, streaming, and payment services. The breadth of the registrations suggests this isn’t exploratory — it looks like groundwork for a full operational rollout across multiple networks.
Adding fuel to speculation, Pump.fun quietly removed all mentions of Solana from its X profile. In crypto, that kind of profile edit rarely goes unnoticed — and rarely means nothing.
MoonPay Partnership and $1B Milestone Set the Stage
The timing of the expansion signals follows two notable developments. This week, Pump.fun integrated MoonPay to support balance top-ups across nine networks, broadening its on-ramp accessibility well beyond its Solana roots. Separately, the platform crossed $1 billion in cumulative net revenue last week — becoming the first Solana-native application to hit that milestone.
Together, the moves paint a picture of a platform that has outgrown its original chain and is now building for a larger addressable market.
What Pump.fun’s Cross-Chain Push Could Mean for Meme Coins
Pump.fun built its reputation on a dead-simple proposition: launch a memecoin for under $2, no presale, no insiders, just a bonding curve that carries the token toward a ~$90,000 market cap threshold before it graduates to Raydium. That model drove an explosion of token activity on Solana and minted the platform’s nine-figure revenue.
If that same infrastructure lands on Base, BNB Chain, Ethereum, and Monad, the implications for memecoin culture across those ecosystems are significant. Each chain brings its own user base, liquidity profile, and community — and a proven launchpad arriving with $1B in earned credibility could meaningfully accelerate token activity on all of them.
No official announcement has been made by the Pump.fun team. But between the subdomain registrations, the profile update, and the MoonPay deal, the signals are pointing firmly in one direction.
A total of 208 subdomains were detected, covering infrastructure for trading APIs, moderation, streaming, and payment services. The breadth of the registrations suggests this isn’t exploratory — it looks like groundwork for a full operational rollout across multiple networks.
Adding fuel to speculation, Pump.fun quietly removed all mentions of Solana from its X profile. In crypto, that kind of profile edit rarely goes unnoticed — and rarely means nothing.
MoonPay Partnership and $1B Milestone Set the Stage
The timing of the expansion signals follows two notable developments. This week, Pump.fun integrated MoonPay to support balance top-ups across nine networks, broadening its on-ramp accessibility well beyond its Solana roots. Separately, the platform crossed $1 billion in cumulative net revenue last week — becoming the first Solana-native application to hit that milestone.
Together, the moves paint a picture of a platform that has outgrown its original chain and is now building for a larger addressable market.
What Pump.fun’s Cross-Chain Push Could Mean for Meme Coins
Pump.fun built its reputation on a dead-simple proposition: launch a memecoin for under $2, no presale, no insiders, just a bonding curve that carries the token toward a ~$90,000 market cap threshold before it graduates to Raydium. That model drove an explosion of token activity on Solana and minted the platform’s nine-figure revenue.
If that same infrastructure lands on Base, BNB Chain, Ethereum, and Monad, the implications for memecoin culture across those ecosystems are significant. Each chain brings its own user base, liquidity profile, and community — and a proven launchpad arriving with $1B in earned credibility could meaningfully accelerate token activity on all of them.
No official announcement has been made by the Pump.fun team. But between the subdomain registrations, the profile update, and the MoonPay deal, the signals are pointing firmly in one direction.
Binance Founder CZ’s Net Worth Hits $110B, According to Forbes
The fortune of Changpeng Zhao — widely known in the crypto industry as CZ — has reached $110 billion, according to the latest billionaire rankings published by Forbes.
The updated estimate places the founder of Binance among the 20 richest people in the world, with a net worth that now reportedly exceeds that of Bill Gates.
Forbes attributes the surge largely to the growing valuation of Binance, which the outlet estimates at around $100 billion, as well as Zhao’s significant holdings of the exchange’s native token, BNB. According to the report, Zhao’s wealth has increased by $47 billion over the past year.
At the top of the Forbes list remains Elon Musk, whose fortune is estimated at more than $800 billion, according to the publication’s ranking.
CZ Questions Forbes Valuation
Despite the impressive estimate, Zhao himself suggested that the numbers may not accurately reflect reality. Responding to the report on X, the entrepreneur criticized the methodology used to calculate his wealth.
“Didn’t read the Forbes article, but if you just look at the little chart , you know it’s wrong. Crypto prices dropped by more than 50% in 2026 already. And my net worth went up? Wish they can apply some common sense and basic logic.”
Zhao also pointed out that Forbes’ calculations appear inconsistent with broader market conditions. According to him, the outlet’s estimate assumes that Binance generates around $5 billion in annual revenue, while simultaneously valuing his personal fortune at $110 billion.
“I think if I tried to claim I have a high net worth, they will rank me much lower, or maybe even remove me from the list. They like to estimate the opposite.”
Binance Stake Remains Core of His Fortune
Most of Zhao’s wealth is tied to his role as the founder and majority owner of Binance, the exchange he launched in 2017, which has since grown into one of the largest cryptocurrency trading platforms globally.
Forbes estimates that Zhao controls approximately 90% of the company, meaning the bulk of his net worth is derived from his stake in the exchange along with his holdings of BNB tokens.
Even after a sharp correction in the crypto market during 2026, Zhao’s estimated fortune continues to rank him among the wealthiest figures in the global technology and finance sectors — and the richest Canadian billionaire, according to Forbes.
The updated estimate places the founder of Binance among the 20 richest people in the world, with a net worth that now reportedly exceeds that of Bill Gates.
Forbes attributes the surge largely to the growing valuation of Binance, which the outlet estimates at around $100 billion, as well as Zhao’s significant holdings of the exchange’s native token, BNB. According to the report, Zhao’s wealth has increased by $47 billion over the past year.
At the top of the Forbes list remains Elon Musk, whose fortune is estimated at more than $800 billion, according to the publication’s ranking.
CZ Questions Forbes Valuation
Despite the impressive estimate, Zhao himself suggested that the numbers may not accurately reflect reality. Responding to the report on X, the entrepreneur criticized the methodology used to calculate his wealth.
“Didn’t read the Forbes article, but if you just look at the little chart , you know it’s wrong. Crypto prices dropped by more than 50% in 2026 already. And my net worth went up? Wish they can apply some common sense and basic logic.”
Zhao also pointed out that Forbes’ calculations appear inconsistent with broader market conditions. According to him, the outlet’s estimate assumes that Binance generates around $5 billion in annual revenue, while simultaneously valuing his personal fortune at $110 billion.
“I think if I tried to claim I have a high net worth, they will rank me much lower, or maybe even remove me from the list. They like to estimate the opposite.”
Binance Stake Remains Core of His Fortune
Most of Zhao’s wealth is tied to his role as the founder and majority owner of Binance, the exchange he launched in 2017, which has since grown into one of the largest cryptocurrency trading platforms globally.
Forbes estimates that Zhao controls approximately 90% of the company, meaning the bulk of his net worth is derived from his stake in the exchange along with his holdings of BNB tokens.
Even after a sharp correction in the crypto market during 2026, Zhao’s estimated fortune continues to rank him among the wealthiest figures in the global technology and finance sectors — and the richest Canadian billionaire, according to Forbes.
Binance Founder CZ’s Net Worth Hits $110B, According to Forbes
The fortune of Changpeng Zhao — widely known in the crypto industry as CZ — has reached $110 billion, according to the latest billionaire rankings published by Forbes.
The updated estimate places the founder of Binance among the 20 richest people in the world, with a net worth that now reportedly exceeds that of Bill Gates.
Forbes attributes the surge largely to the growing valuation of Binance, which the outlet estimates at around $100 billion, as well as Zhao’s significant holdings of the exchange’s native token, BNB. According to the report, Zhao’s wealth has increased by $47 billion over the past year.
At the top of the Forbes list remains Elon Musk, whose fortune is estimated at more than $800 billion, according to the publication’s ranking.
CZ Questions Forbes Valuation
Despite the impressive estimate, Zhao himself suggested that the numbers may not accurately reflect reality. Responding to the report on X, the entrepreneur criticized the methodology used to calculate his wealth.
“Didn’t read the Forbes article, but if you just look at the little chart , you know it’s wrong. Crypto prices dropped by more than 50% in 2026 already. And my net worth went up? Wish they can apply some common sense and basic logic.”
Zhao also pointed out that Forbes’ calculations appear inconsistent with broader market conditions. According to him, the outlet’s estimate assumes that Binance generates around $5 billion in annual revenue, while simultaneously valuing his personal fortune at $110 billion.
“I think if I tried to claim I have a high net worth, they will rank me much lower, or maybe even remove me from the list. They like to estimate the opposite.”
Binance Stake Remains Core of His Fortune
Most of Zhao’s wealth is tied to his role as the founder and majority owner of Binance, the exchange he launched in 2017, which has since grown into one of the largest cryptocurrency trading platforms globally.
Forbes estimates that Zhao controls approximately 90% of the company, meaning the bulk of his net worth is derived from his stake in the exchange along with his holdings of BNB tokens.
Even after a sharp correction in the crypto market during 2026, Zhao’s estimated fortune continues to rank him among the wealthiest figures in the global technology and finance sectors — and the richest Canadian billionaire, according to Forbes.
The updated estimate places the founder of Binance among the 20 richest people in the world, with a net worth that now reportedly exceeds that of Bill Gates.
Forbes attributes the surge largely to the growing valuation of Binance, which the outlet estimates at around $100 billion, as well as Zhao’s significant holdings of the exchange’s native token, BNB. According to the report, Zhao’s wealth has increased by $47 billion over the past year.
At the top of the Forbes list remains Elon Musk, whose fortune is estimated at more than $800 billion, according to the publication’s ranking.
CZ Questions Forbes Valuation
Despite the impressive estimate, Zhao himself suggested that the numbers may not accurately reflect reality. Responding to the report on X, the entrepreneur criticized the methodology used to calculate his wealth.
“Didn’t read the Forbes article, but if you just look at the little chart , you know it’s wrong. Crypto prices dropped by more than 50% in 2026 already. And my net worth went up? Wish they can apply some common sense and basic logic.”
Zhao also pointed out that Forbes’ calculations appear inconsistent with broader market conditions. According to him, the outlet’s estimate assumes that Binance generates around $5 billion in annual revenue, while simultaneously valuing his personal fortune at $110 billion.
“I think if I tried to claim I have a high net worth, they will rank me much lower, or maybe even remove me from the list. They like to estimate the opposite.”
Binance Stake Remains Core of His Fortune
Most of Zhao’s wealth is tied to his role as the founder and majority owner of Binance, the exchange he launched in 2017, which has since grown into one of the largest cryptocurrency trading platforms globally.
Forbes estimates that Zhao controls approximately 90% of the company, meaning the bulk of his net worth is derived from his stake in the exchange along with his holdings of BNB tokens.
Even after a sharp correction in the crypto market during 2026, Zhao’s estimated fortune continues to rank him among the wealthiest figures in the global technology and finance sectors — and the richest Canadian billionaire, according to Forbes.
Oil Perp Surpasses Ethereum on Hyperliquid, Hits $1.29B 24-Hour Volume
Oil-linked perpetual futures have surged in popularity on the decentralized exchange Hyperliquid, briefly surpassing Ethereum derivatives in daily trading activity as geopolitical tensions in the Middle East rattled global markets.
The platform’s CL-USDC oil perpetual contract saw a significant spike in volume on March 10, 2026, as traders rushed to speculate on rapidly changing oil prices. According to Bloomberg, daily trading volume ranged between $1.2 billion and nearly $2 billion, pushing the instrument ahead of Ethereum perpetuals on the exchange.
The sudden surge highlights how tokenized derivatives are increasingly being used to trade macro events around the clock.
Oil Price Volatility Drives Massive Trading Activity
Trading activity on Hyperliquid’s oil perpetual accelerated within days. The contract’s daily volume reportedly jumped from around $21 million to more than $1.2 billion, reflecting intense market interest as energy prices reacted to geopolitical developments.
Oil prices briefly climbed to around $112 per barrel on March 10 amid escalating tensions in the Middle East, before quickly reversing and falling back to roughly $86 the following day. The rapid price swings created a highly volatile trading environment for derivatives traders.
As volatility increased, Hyperliquid also recorded a wave of liquidations. The exchange reportedly closed approximately $75 million worth of short positions within 24 hours, as traders betting on lower prices were forced out of the market.
Hyperliquid Becomes Hub for 24/7 Macro Trading
Open interest in the oil perpetual contract climbed to roughly $183 million, signaling growing demand for on-chain derivatives tied to traditional commodities.
The surge suggests that crypto-native trading venues are increasingly becoming platforms where traders react to global macro events in real time. Unlike traditional commodity markets with limited trading hours, decentralized exchanges allow participants to take positions 24/7, making them attractive during periods of sudden geopolitical developments.
As tensions in the Middle East continue to influence global energy markets, tokenized oil derivatives on platforms like Hyperliquid may remain a focal point for traders looking to capitalize on volatility.
The platform’s CL-USDC oil perpetual contract saw a significant spike in volume on March 10, 2026, as traders rushed to speculate on rapidly changing oil prices. According to Bloomberg, daily trading volume ranged between $1.2 billion and nearly $2 billion, pushing the instrument ahead of Ethereum perpetuals on the exchange.
The sudden surge highlights how tokenized derivatives are increasingly being used to trade macro events around the clock.
Oil Price Volatility Drives Massive Trading Activity
Trading activity on Hyperliquid’s oil perpetual accelerated within days. The contract’s daily volume reportedly jumped from around $21 million to more than $1.2 billion, reflecting intense market interest as energy prices reacted to geopolitical developments.
Oil prices briefly climbed to around $112 per barrel on March 10 amid escalating tensions in the Middle East, before quickly reversing and falling back to roughly $86 the following day. The rapid price swings created a highly volatile trading environment for derivatives traders.
As volatility increased, Hyperliquid also recorded a wave of liquidations. The exchange reportedly closed approximately $75 million worth of short positions within 24 hours, as traders betting on lower prices were forced out of the market.
Hyperliquid Becomes Hub for 24/7 Macro Trading
Open interest in the oil perpetual contract climbed to roughly $183 million, signaling growing demand for on-chain derivatives tied to traditional commodities.
The surge suggests that crypto-native trading venues are increasingly becoming platforms where traders react to global macro events in real time. Unlike traditional commodity markets with limited trading hours, decentralized exchanges allow participants to take positions 24/7, making them attractive during periods of sudden geopolitical developments.
As tensions in the Middle East continue to influence global energy markets, tokenized oil derivatives on platforms like Hyperliquid may remain a focal point for traders looking to capitalize on volatility.
Oil Perp Surpasses Ethereum on Hyperliquid, Hits $1.29B 24-Hour Volume
Oil-linked perpetual futures have surged in popularity on the decentralized exchange Hyperliquid, briefly surpassing Ethereum derivatives in daily trading activity as geopolitical tensions in the Middle East rattled global markets.
The platform’s CL-USDC oil perpetual contract saw a significant spike in volume on March 10, 2026, as traders rushed to speculate on rapidly changing oil prices. According to Bloomberg, daily trading volume ranged between $1.2 billion and nearly $2 billion, pushing the instrument ahead of Ethereum perpetuals on the exchange.
The sudden surge highlights how tokenized derivatives are increasingly being used to trade macro events around the clock.
Oil Price Volatility Drives Massive Trading Activity
Trading activity on Hyperliquid’s oil perpetual accelerated within days. The contract’s daily volume reportedly jumped from around $21 million to more than $1.2 billion, reflecting intense market interest as energy prices reacted to geopolitical developments.
Oil prices briefly climbed to around $112 per barrel on March 10 amid escalating tensions in the Middle East, before quickly reversing and falling back to roughly $86 the following day. The rapid price swings created a highly volatile trading environment for derivatives traders.
As volatility increased, Hyperliquid also recorded a wave of liquidations. The exchange reportedly closed approximately $75 million worth of short positions within 24 hours, as traders betting on lower prices were forced out of the market.
Hyperliquid Becomes Hub for 24/7 Macro Trading
Open interest in the oil perpetual contract climbed to roughly $183 million, signaling growing demand for on-chain derivatives tied to traditional commodities.
The surge suggests that crypto-native trading venues are increasingly becoming platforms where traders react to global macro events in real time. Unlike traditional commodity markets with limited trading hours, decentralized exchanges allow participants to take positions 24/7, making them attractive during periods of sudden geopolitical developments.
As tensions in the Middle East continue to influence global energy markets, tokenized oil derivatives on platforms like Hyperliquid may remain a focal point for traders looking to capitalize on volatility.
The platform’s CL-USDC oil perpetual contract saw a significant spike in volume on March 10, 2026, as traders rushed to speculate on rapidly changing oil prices. According to Bloomberg, daily trading volume ranged between $1.2 billion and nearly $2 billion, pushing the instrument ahead of Ethereum perpetuals on the exchange.
The sudden surge highlights how tokenized derivatives are increasingly being used to trade macro events around the clock.
Oil Price Volatility Drives Massive Trading Activity
Trading activity on Hyperliquid’s oil perpetual accelerated within days. The contract’s daily volume reportedly jumped from around $21 million to more than $1.2 billion, reflecting intense market interest as energy prices reacted to geopolitical developments.
Oil prices briefly climbed to around $112 per barrel on March 10 amid escalating tensions in the Middle East, before quickly reversing and falling back to roughly $86 the following day. The rapid price swings created a highly volatile trading environment for derivatives traders.
As volatility increased, Hyperliquid also recorded a wave of liquidations. The exchange reportedly closed approximately $75 million worth of short positions within 24 hours, as traders betting on lower prices were forced out of the market.
Hyperliquid Becomes Hub for 24/7 Macro Trading
Open interest in the oil perpetual contract climbed to roughly $183 million, signaling growing demand for on-chain derivatives tied to traditional commodities.
The surge suggests that crypto-native trading venues are increasingly becoming platforms where traders react to global macro events in real time. Unlike traditional commodity markets with limited trading hours, decentralized exchanges allow participants to take positions 24/7, making them attractive during periods of sudden geopolitical developments.
As tensions in the Middle East continue to influence global energy markets, tokenized oil derivatives on platforms like Hyperliquid may remain a focal point for traders looking to capitalize on volatility.
Dubai Regulator Orders Ban on MEXC Crypto Operations in UAE
Dubai’s crypto regulator has issued a warning regarding the exchange MEXC, stating that the platform is not authorized to provide virtual asset services in the emirate.
The Dubai Virtual Assets Regulatory Authority (VARA) released an official Investor and Marketplace Alert concerning two entities connected to the exchange — MEXC Estonia OÜ and MEXC Global LTD, which operate commercially under the brand name “MEXC.”
The announcement was shared publicly by VARA on X.
VARA: MEXC Not Licensed to Operate in Dubai
According to the regulator, neither of the entities behind MEXC currently holds a license to offer crypto services within Dubai’s regulatory framework.
“The entity does not hold a VARA licence to provide Virtual Asset services in or from Dubai. Any activities related to Virtual Assets advertised or conducted by the company are therefore not compliant with VARA Regulations.”
The regulator emphasized that companies providing crypto services in Dubai must obtain official authorization before operating or marketing their products to local users.
Warning to Investors
VARA also reminded investors that interacting with unlicensed crypto platforms may expose users to financial risks and possible legal consequences.
The authority advised both individuals and businesses to verify whether a company is properly authorized before using its services.
According to the regulator, users should always check the VARA Public Register, which lists licensed and approved Virtual Asset Service Providers (VASPs) operating in the emirate.
Dubai Tightens Oversight of Crypto Platforms
The alert reflects Dubai’s ongoing efforts to strengthen regulatory oversight of the rapidly growing digital asset sector.
VARA — the Virtual Assets Regulatory Authority — was established in March 2022 and is widely considered the world’s first dedicated regulator focused exclusively on virtual assets.
The authority is responsible for regulating, supervising, and licensing cryptocurrency, NFT, and blockchain-related activities across Dubai, excluding the Dubai International Financial Centre (DIFC), which falls under a separate regulatory framework.
Its mandate includes investor protection, anti-money laundering compliance, and supporting the development of a secure digital asset ecosystem.
MEXC Reputation Debated in Crypto Community
Within the crypto community, MEXC has occasionally faced criticism from users regarding platform reliability.
Some traders have reported incidents involving frozen accounts or difficulties withdrawing funds — issues that have circulated widely across crypto forums and social media discussions.
The Dubai Virtual Assets Regulatory Authority (VARA) released an official Investor and Marketplace Alert concerning two entities connected to the exchange — MEXC Estonia OÜ and MEXC Global LTD, which operate commercially under the brand name “MEXC.”
The announcement was shared publicly by VARA on X.
VARA: MEXC Not Licensed to Operate in Dubai
According to the regulator, neither of the entities behind MEXC currently holds a license to offer crypto services within Dubai’s regulatory framework.
“The entity does not hold a VARA licence to provide Virtual Asset services in or from Dubai. Any activities related to Virtual Assets advertised or conducted by the company are therefore not compliant with VARA Regulations.”
The regulator emphasized that companies providing crypto services in Dubai must obtain official authorization before operating or marketing their products to local users.
Warning to Investors
VARA also reminded investors that interacting with unlicensed crypto platforms may expose users to financial risks and possible legal consequences.
The authority advised both individuals and businesses to verify whether a company is properly authorized before using its services.
According to the regulator, users should always check the VARA Public Register, which lists licensed and approved Virtual Asset Service Providers (VASPs) operating in the emirate.
Dubai Tightens Oversight of Crypto Platforms
The alert reflects Dubai’s ongoing efforts to strengthen regulatory oversight of the rapidly growing digital asset sector.
VARA — the Virtual Assets Regulatory Authority — was established in March 2022 and is widely considered the world’s first dedicated regulator focused exclusively on virtual assets.
The authority is responsible for regulating, supervising, and licensing cryptocurrency, NFT, and blockchain-related activities across Dubai, excluding the Dubai International Financial Centre (DIFC), which falls under a separate regulatory framework.
Its mandate includes investor protection, anti-money laundering compliance, and supporting the development of a secure digital asset ecosystem.
MEXC Reputation Debated in Crypto Community
Within the crypto community, MEXC has occasionally faced criticism from users regarding platform reliability.
Some traders have reported incidents involving frozen accounts or difficulties withdrawing funds — issues that have circulated widely across crypto forums and social media discussions.
Dubai Regulator Orders Ban on MEXC Crypto Operations in UAE
Dubai’s crypto regulator has issued a warning regarding the exchange MEXC, stating that the platform is not authorized to provide virtual asset services in the emirate.
The Dubai Virtual Assets Regulatory Authority (VARA) released an official Investor and Marketplace Alert concerning two entities connected to the exchange — MEXC Estonia OÜ and MEXC Global LTD, which operate commercially under the brand name “MEXC.”
The announcement was shared publicly by VARA on X.
VARA: MEXC Not Licensed to Operate in Dubai
According to the regulator, neither of the entities behind MEXC currently holds a license to offer crypto services within Dubai’s regulatory framework.
“The entity does not hold a VARA licence to provide Virtual Asset services in or from Dubai. Any activities related to Virtual Assets advertised or conducted by the company are therefore not compliant with VARA Regulations.”
The regulator emphasized that companies providing crypto services in Dubai must obtain official authorization before operating or marketing their products to local users.
Warning to Investors
VARA also reminded investors that interacting with unlicensed crypto platforms may expose users to financial risks and possible legal consequences.
The authority advised both individuals and businesses to verify whether a company is properly authorized before using its services.
According to the regulator, users should always check the VARA Public Register, which lists licensed and approved Virtual Asset Service Providers (VASPs) operating in the emirate.
Dubai Tightens Oversight of Crypto Platforms
The alert reflects Dubai’s ongoing efforts to strengthen regulatory oversight of the rapidly growing digital asset sector.
VARA — the Virtual Assets Regulatory Authority — was established in March 2022 and is widely considered the world’s first dedicated regulator focused exclusively on virtual assets.
The authority is responsible for regulating, supervising, and licensing cryptocurrency, NFT, and blockchain-related activities across Dubai, excluding the Dubai International Financial Centre (DIFC), which falls under a separate regulatory framework.
Its mandate includes investor protection, anti-money laundering compliance, and supporting the development of a secure digital asset ecosystem.
MEXC Reputation Debated in Crypto Community
Within the crypto community, MEXC has occasionally faced criticism from users regarding platform reliability.
Some traders have reported incidents involving frozen accounts or difficulties withdrawing funds — issues that have circulated widely across crypto forums and social media discussions.
The Dubai Virtual Assets Regulatory Authority (VARA) released an official Investor and Marketplace Alert concerning two entities connected to the exchange — MEXC Estonia OÜ and MEXC Global LTD, which operate commercially under the brand name “MEXC.”
The announcement was shared publicly by VARA on X.
VARA: MEXC Not Licensed to Operate in Dubai
According to the regulator, neither of the entities behind MEXC currently holds a license to offer crypto services within Dubai’s regulatory framework.
“The entity does not hold a VARA licence to provide Virtual Asset services in or from Dubai. Any activities related to Virtual Assets advertised or conducted by the company are therefore not compliant with VARA Regulations.”
The regulator emphasized that companies providing crypto services in Dubai must obtain official authorization before operating or marketing their products to local users.
Warning to Investors
VARA also reminded investors that interacting with unlicensed crypto platforms may expose users to financial risks and possible legal consequences.
The authority advised both individuals and businesses to verify whether a company is properly authorized before using its services.
According to the regulator, users should always check the VARA Public Register, which lists licensed and approved Virtual Asset Service Providers (VASPs) operating in the emirate.
Dubai Tightens Oversight of Crypto Platforms
The alert reflects Dubai’s ongoing efforts to strengthen regulatory oversight of the rapidly growing digital asset sector.
VARA — the Virtual Assets Regulatory Authority — was established in March 2022 and is widely considered the world’s first dedicated regulator focused exclusively on virtual assets.
The authority is responsible for regulating, supervising, and licensing cryptocurrency, NFT, and blockchain-related activities across Dubai, excluding the Dubai International Financial Centre (DIFC), which falls under a separate regulatory framework.
Its mandate includes investor protection, anti-money laundering compliance, and supporting the development of a secure digital asset ecosystem.
MEXC Reputation Debated in Crypto Community
Within the crypto community, MEXC has occasionally faced criticism from users regarding platform reliability.
Some traders have reported incidents involving frozen accounts or difficulties withdrawing funds — issues that have circulated widely across crypto forums and social media discussions.
Kazakhstan Central Bank to Invest Up to $350M in Crypto-Related Assets Starting This Spring
Kazakhstan’s central bank is preparing to allocate up to $350 million from its gold and foreign exchange reserves into cryptocurrency-related assets, Governor Timur Suleimanov said during a briefing on interest rates on Friday, Reuters reports.
According to Reuters, the initiative is part of an effort to create an alternative investment portfolio within the country’s reserves, allowing exposure to higher-risk assets linked to the digital economy.
“We are currently developing a list of instruments in which we will invest. This includes not only cryptocurrency itself,” Suleimanov said.
Investments to Begin in April–May
The first investments are expected to begin between April and May, according to Aliya Moldabekova, Deputy Chair of the National Bank of Kazakhstan.
However, Moldabekova emphasized that the central bank is not planning large direct purchases of cryptocurrencies at this stage.
“We are not talking about any large investment in cryptocurrencies. We are currently selecting companies that deal with digital assets — for example, those involved in cryptocurrency infrastructure,” she said.
The investment strategy will likely focus on public companies and financial instruments connected to the crypto industry, including: – shares of high-tech companies linked to digital assets – crypto-related index funds – other financial instruments that track crypto market dynamics
Crypto Exposure Within a Reserve Strategy
The initiative would be implemented through a special portfolio within Kazakhstan’s reserves and sovereign wealth structures, where more aggressive investment strategies are permitted.
Earlier in 2025, Suleimanov indicated that the country was considering allocating a portion of its gold and foreign exchange reserves to digital asset-related investments as part of this alternative portfolio.
As of February 1, Kazakhstan’s financial reserves stood at: – $69.4 billion in gold and foreign exchange reserves – $65.23 billion in assets held by the National Fund of Kazakhstan
The potential allocation would represent a small fraction of total reserves, but signals a growing interest among sovereign institutions in gaining exposure to the expanding crypto and digital asset sector.
According to Reuters, the initiative is part of an effort to create an alternative investment portfolio within the country’s reserves, allowing exposure to higher-risk assets linked to the digital economy.
“We are currently developing a list of instruments in which we will invest. This includes not only cryptocurrency itself,” Suleimanov said.
Investments to Begin in April–May
The first investments are expected to begin between April and May, according to Aliya Moldabekova, Deputy Chair of the National Bank of Kazakhstan.
However, Moldabekova emphasized that the central bank is not planning large direct purchases of cryptocurrencies at this stage.
“We are not talking about any large investment in cryptocurrencies. We are currently selecting companies that deal with digital assets — for example, those involved in cryptocurrency infrastructure,” she said.
The investment strategy will likely focus on public companies and financial instruments connected to the crypto industry, including: – shares of high-tech companies linked to digital assets – crypto-related index funds – other financial instruments that track crypto market dynamics
Crypto Exposure Within a Reserve Strategy
The initiative would be implemented through a special portfolio within Kazakhstan’s reserves and sovereign wealth structures, where more aggressive investment strategies are permitted.
Earlier in 2025, Suleimanov indicated that the country was considering allocating a portion of its gold and foreign exchange reserves to digital asset-related investments as part of this alternative portfolio.
As of February 1, Kazakhstan’s financial reserves stood at: – $69.4 billion in gold and foreign exchange reserves – $65.23 billion in assets held by the National Fund of Kazakhstan
The potential allocation would represent a small fraction of total reserves, but signals a growing interest among sovereign institutions in gaining exposure to the expanding crypto and digital asset sector.
Kazakhstan Central Bank to Invest Up to $350M in Crypto-Related Assets Starting This Spring
Kazakhstan’s central bank is preparing to allocate up to $350 million from its gold and foreign exchange reserves into cryptocurrency-related assets, Governor Timur Suleimanov said during a briefing on interest rates on Friday, Reuters reports.
According to Reuters, the initiative is part of an effort to create an alternative investment portfolio within the country’s reserves, allowing exposure to higher-risk assets linked to the digital economy.
“We are currently developing a list of instruments in which we will invest. This includes not only cryptocurrency itself,” Suleimanov said.
Investments to Begin in April–May
The first investments are expected to begin between April and May, according to Aliya Moldabekova, Deputy Chair of the National Bank of Kazakhstan.
However, Moldabekova emphasized that the central bank is not planning large direct purchases of cryptocurrencies at this stage.
“We are not talking about any large investment in cryptocurrencies. We are currently selecting companies that deal with digital assets — for example, those involved in cryptocurrency infrastructure,” she said.
The investment strategy will likely focus on public companies and financial instruments connected to the crypto industry, including:
– shares of high-tech companies linked to digital assets
– crypto-related index funds
– other financial instruments that track crypto market dynamics
Crypto Exposure Within a Reserve Strategy
The initiative would be implemented through a special portfolio within Kazakhstan’s reserves and sovereign wealth structures, where more aggressive investment strategies are permitted.
Earlier in 2025, Suleimanov indicated that the country was considering allocating a portion of its gold and foreign exchange reserves to digital asset-related investments as part of this alternative portfolio.
As of February 1, Kazakhstan’s financial reserves stood at:
– $69.4 billion in gold and foreign exchange reserves
– $65.23 billion in assets held by the National Fund of Kazakhstan
The potential allocation would represent a small fraction of total reserves, but signals a growing interest among sovereign institutions in gaining exposure to the expanding crypto and digital asset sector.
According to Reuters, the initiative is part of an effort to create an alternative investment portfolio within the country’s reserves, allowing exposure to higher-risk assets linked to the digital economy.
“We are currently developing a list of instruments in which we will invest. This includes not only cryptocurrency itself,” Suleimanov said.
Investments to Begin in April–May
The first investments are expected to begin between April and May, according to Aliya Moldabekova, Deputy Chair of the National Bank of Kazakhstan.
However, Moldabekova emphasized that the central bank is not planning large direct purchases of cryptocurrencies at this stage.
“We are not talking about any large investment in cryptocurrencies. We are currently selecting companies that deal with digital assets — for example, those involved in cryptocurrency infrastructure,” she said.
The investment strategy will likely focus on public companies and financial instruments connected to the crypto industry, including:
– shares of high-tech companies linked to digital assets
– crypto-related index funds
– other financial instruments that track crypto market dynamics
Crypto Exposure Within a Reserve Strategy
The initiative would be implemented through a special portfolio within Kazakhstan’s reserves and sovereign wealth structures, where more aggressive investment strategies are permitted.
Earlier in 2025, Suleimanov indicated that the country was considering allocating a portion of its gold and foreign exchange reserves to digital asset-related investments as part of this alternative portfolio.
As of February 1, Kazakhstan’s financial reserves stood at:
– $69.4 billion in gold and foreign exchange reserves
– $65.23 billion in assets held by the National Fund of Kazakhstan
The potential allocation would represent a small fraction of total reserves, but signals a growing interest among sovereign institutions in gaining exposure to the expanding crypto and digital asset sector.
The Human Side of Digital Transformation: Global Experts to Lead Key Debates At 2nd MMG HR Summit...
This panel discussion will be about the place of human beings in the digital transformation era. During these debates, panelists will explore how companies can balance automation with empathy, data with dialogue, and speed with sustainability. MMG HR Summit Mediterranean 2026 will take place on 11–12 March at the Opus Events Venue in Limassol and bring together leading HR leaders, founders, and business decision-makers from across the Mediterranean region to explore the future of work.
As organizations accelerate digital transformation, technology alone is no longer the differentiator – it is accessible to every business. The real challenge is to align systems, leadership, and culture – ensuring that digital progress helps to build trust, engagement, and human connection rather than eroding them. The main topic of the debates will be “The Human Side of Digital Transformation”, and the moderator will be Carol Constant, an expert in learning, development, and human resources, and the Founder of WhomLab. The debate’s participants will be featuring internationally recognized experts:
● Ben Whitter – globally acknowledged thought leader in employee experience and human-centric business transformation. ● Andri Kyprianou – HR leader shaping people strategy within international corporate environments. ● Elena Logutova – expert in organizational transformation and cross-cultural leadership. ● Elizaveta Lagireva – specialist in digital HR solutions and workforce innovation.
The conversation will focus on practical leadership decisions: redesigning the employee experience in digital environments, AI tools, preparing managers for hybrid realities, and maintaining a strong corporate culture while scaling technology-driven change. The debates directly reflect the Summit’s mission to create a space for dialogue about the future of work centered on People, Culture, and Global Connection.
Nadezhda Gorislavtseva, Co-Founder of Memory Makers Group and Organizer of MMG HR Summit Mediterranean, highlighted the importance of such discussions:
“Digital transformation is often discussed in terms of AI tools, systems, and efficiency. But behind every transformation are people – leaders navigating uncertainty, teams adapting to change, and cultures being reshaped in real time. Discussing such topics with HR leaders is essential because it allows us to speak honestly about the human impact of technology. In this way, all together we create a professional space where strategic conversations translate into responsible leadership decisions.”
MMG HR Summit Mediterranean 2026 will once again unite more than 300 senior HR leaders, founders, and CEOs to exchange European-level expertise, strengthen cross- cultural collaboration, and advance inclusive leadership practices across the region.
Organizer: Memory Makers Group Corporate Catering Partner: Yummykitchen Corporate Merch Partner: NextDay Printing
Strategic Communication Partner: Reputation City Strategic Wellbeing Partner: Integrated Professional Growth Strategic Partners: HackHR , The Top 10 HR Voices Community Partners: Cyprus HR Management Association, Cyprus Business Group, Women in Tech Cyprus, CyHRMA Representation Thought Leadership
Media Partners: Digital Tree , Ergodotisi, MC Media.
Information About MMG HR Summit: MMG HR Summit Mediterranean 2026 is the second international Summit, bringing together HR leaders, business executives, and industry experts. The summit is designed to encourage knowledge sharing, practical learning, and meaningful dialogue around people, culture, and the future of work.
About Memory Making Group: Memory Makers Group is a platform for meaningful experiences that helps businesses and HR communities grow through travel, events, and professional connections. MMG operates at the intersection of business impact and social value, creating not just services but environments for knowledge exchange, collective thinking, and the development of human capital.
About Reputation City: Reputation City is an online reputation management company that creates clients’ Digital Profiles with a compliance-first mindset across search engines and AI platforms – ensuring every result builds trust and credibility.
As organizations accelerate digital transformation, technology alone is no longer the differentiator – it is accessible to every business. The real challenge is to align systems, leadership, and culture – ensuring that digital progress helps to build trust, engagement, and human connection rather than eroding them. The main topic of the debates will be “The Human Side of Digital Transformation”, and the moderator will be Carol Constant, an expert in learning, development, and human resources, and the Founder of WhomLab. The debate’s participants will be featuring internationally recognized experts:
● Ben Whitter – globally acknowledged thought leader in employee experience and human-centric business transformation. ● Andri Kyprianou – HR leader shaping people strategy within international corporate environments. ● Elena Logutova – expert in organizational transformation and cross-cultural leadership. ● Elizaveta Lagireva – specialist in digital HR solutions and workforce innovation.
The conversation will focus on practical leadership decisions: redesigning the employee experience in digital environments, AI tools, preparing managers for hybrid realities, and maintaining a strong corporate culture while scaling technology-driven change. The debates directly reflect the Summit’s mission to create a space for dialogue about the future of work centered on People, Culture, and Global Connection.
Nadezhda Gorislavtseva, Co-Founder of Memory Makers Group and Organizer of MMG HR Summit Mediterranean, highlighted the importance of such discussions:
“Digital transformation is often discussed in terms of AI tools, systems, and efficiency. But behind every transformation are people – leaders navigating uncertainty, teams adapting to change, and cultures being reshaped in real time. Discussing such topics with HR leaders is essential because it allows us to speak honestly about the human impact of technology. In this way, all together we create a professional space where strategic conversations translate into responsible leadership decisions.”
MMG HR Summit Mediterranean 2026 will once again unite more than 300 senior HR leaders, founders, and CEOs to exchange European-level expertise, strengthen cross- cultural collaboration, and advance inclusive leadership practices across the region.
Organizer: Memory Makers Group Corporate Catering Partner: Yummykitchen Corporate Merch Partner: NextDay Printing
Strategic Communication Partner: Reputation City Strategic Wellbeing Partner: Integrated Professional Growth Strategic Partners: HackHR , The Top 10 HR Voices Community Partners: Cyprus HR Management Association, Cyprus Business Group, Women in Tech Cyprus, CyHRMA Representation Thought Leadership
Media Partners: Digital Tree , Ergodotisi, MC Media.
Information About MMG HR Summit: MMG HR Summit Mediterranean 2026 is the second international Summit, bringing together HR leaders, business executives, and industry experts. The summit is designed to encourage knowledge sharing, practical learning, and meaningful dialogue around people, culture, and the future of work.
About Memory Making Group: Memory Makers Group is a platform for meaningful experiences that helps businesses and HR communities grow through travel, events, and professional connections. MMG operates at the intersection of business impact and social value, creating not just services but environments for knowledge exchange, collective thinking, and the development of human capital.
About Reputation City: Reputation City is an online reputation management company that creates clients’ Digital Profiles with a compliance-first mindset across search engines and AI platforms – ensuring every result builds trust and credibility.
HSC Hack Seasons Conference Cannes Unites Institutional Capital and Web3 Leaders to the French Ri...
As the brainport for Web3 titans, the Hack Seasons Conference will bring together institutional leaders, digital asset executives and policymakers for a focused day of cutting‑edge insights and strategic partnerships.
The conference will take place on April 1, starting at 10:00 a.m., at Canopy by Hilton Cannes, 2 Bd Jean Hibert, 06400 Cannes. Registration is open via Luma — don’t miss your chance to join this unique gathering of Web3 and institutional finance leaders!
Confirmed Speakers
Speaker list updated regularly — more exciting names coming soon:
Andrew O’Neill, Managing Director, Digital Assets Analytical Lead, S&P Global;
Patrick Hansen, Senior Director, EU Strategy & Policy, Circle
Daniel Seifert, Vice President and Regional Managing Director, EMEA, Coinbase
Paul Brody, Global Blockchain Leader, EY
Matthew Dawson, Enterprise Lead, Ethereum Foundation;
Ed Felten, Co-founder, Offchain Labs
Join HSC Hack Seasons Conference Cannes to connect with global leaders, gain actionable insights on market trends, and build meaningful relationships in institutional finance and digital assets.
Claim your spot now: https://luma.com/mixer_cannes
For media inquiries, please contact: E-mail: daria@mpost.io Telegram: dgvrlchik
The conference will take place on April 1, starting at 10:00 a.m., at Canopy by Hilton Cannes, 2 Bd Jean Hibert, 06400 Cannes. Registration is open via Luma — don’t miss your chance to join this unique gathering of Web3 and institutional finance leaders!
Confirmed Speakers
Speaker list updated regularly — more exciting names coming soon:
Andrew O’Neill, Managing Director, Digital Assets Analytical Lead, S&P Global;
Patrick Hansen, Senior Director, EU Strategy & Policy, Circle
Daniel Seifert, Vice President and Regional Managing Director, EMEA, Coinbase
Paul Brody, Global Blockchain Leader, EY
Matthew Dawson, Enterprise Lead, Ethereum Foundation;
Ed Felten, Co-founder, Offchain Labs
Join HSC Hack Seasons Conference Cannes to connect with global leaders, gain actionable insights on market trends, and build meaningful relationships in institutional finance and digital assets.
Claim your spot now: https://luma.com/mixer_cannes
For media inquiries, please contact: E-mail: daria@mpost.io Telegram: dgvrlchik
HSC Hack Seasons Conference Cannes Unites Institutional Capital and Web3 Leaders to the French Ri...
As the brainport for Web3 titans, the Hack Seasons Conference will bring together institutional leaders, digital asset executives and policymakers for a focused day of cutting‑edge insights and strategic partnerships.
The conference will take place on April 1, starting at 10:00 a.m., at Canopy by Hilton Cannes, 2 Bd Jean Hibert, 06400 Cannes. Registration is open via Luma — don’t miss your chance to join this unique gathering of Web3 and institutional finance leaders!
Confirmed Speakers
Speaker list updated regularly — more exciting names coming soon:
Andrew O’Neill, Managing Director, Digital Assets Analytical Lead, S&P Global;
Patrick Hansen, Senior Director, EU Strategy & Policy, Circle
Daniel Seifert, Vice President and Regional Managing Director, EMEA, Coinbase
Paul Brody, Global Blockchain Leader, EY
Matthew Dawson, Enterprise Lead, Ethereum Foundation;
Ed Felten, Co-founder, Offchain Labs
Join HSC Hack Seasons Conference Cannes to connect with global leaders, gain actionable insights on market trends, and build meaningful relationships in institutional finance and digital assets.
Claim your spot now:
https://luma.com/mixer_cannes
For media inquiries, please contact:
E-mail: daria@mpost.io
Telegram: dgvrlchik
The conference will take place on April 1, starting at 10:00 a.m., at Canopy by Hilton Cannes, 2 Bd Jean Hibert, 06400 Cannes. Registration is open via Luma — don’t miss your chance to join this unique gathering of Web3 and institutional finance leaders!
Confirmed Speakers
Speaker list updated regularly — more exciting names coming soon:
Andrew O’Neill, Managing Director, Digital Assets Analytical Lead, S&P Global;
Patrick Hansen, Senior Director, EU Strategy & Policy, Circle
Daniel Seifert, Vice President and Regional Managing Director, EMEA, Coinbase
Paul Brody, Global Blockchain Leader, EY
Matthew Dawson, Enterprise Lead, Ethereum Foundation;
Ed Felten, Co-founder, Offchain Labs
Join HSC Hack Seasons Conference Cannes to connect with global leaders, gain actionable insights on market trends, and build meaningful relationships in institutional finance and digital assets.
Claim your spot now:
https://luma.com/mixer_cannes
For media inquiries, please contact:
E-mail: daria@mpost.io
Telegram: dgvrlchik
The Human Side of Digital Transformation: Global Experts to Lead Key Debates at 2nd MMG HR Summit...
This panel discussion will be about the place of human beings in the digital transformation era. During these debates, panelists will explore how companies can balance automation with empathy, data with dialogue, and speed with sustainability.
MMG HR Summit Mediterranean 2026 will take place on 11–12 March at the Opus Events Venue in Limassol and bring together leading HR leaders, founders, and business decision-makers from across the Mediterranean region to explore the future of work.
As organizations accelerate digital transformation, technology alone is no longer the differentiator – it is accessible to every business. The real challenge is to align systems, leadership, and culture – ensuring that digital progress helps to build trust, engagement, and human connection rather than eroding them. The main topic of the debates will be “The Human Side of Digital Transformation”, and the moderator will be Carol Constant, an expert in learning, development, and human resources, and the Founder of WhomLab. The debate’s participants will be featuring internationally recognized experts:
● Ben Whitter – globally acknowledged thought leader in employee experience and human-centric business transformation.
● Andri Kyprianou – HR leader shaping people strategy within international corporate environments.
● Elena Logutova – expert in organizational transformation and cross-cultural leadership.
● Elizaveta Lagireva – specialist in digital HR solutions and workforce innovation.
The conversation will focus on practical leadership decisions: redesigning the employee experience in digital environments, AI tools, preparing managers for hybrid realities, and maintaining a strong corporate culture while scaling technology-driven change. The debates directly reflect the Summit’s mission to create a space for dialogue about the future of work centered on People, Culture, and Global Connection.
Nadezhda Gorislavtseva, Co-Founder of Memory Makers Group and Organizer of MMG HR Summit Mediterranean, highlighted the importance of such discussions:
“Digital transformation is often discussed in terms of AI tools, systems, and efficiency. But behind every transformation are people – leaders navigating uncertainty, teams adapting to
change, and cultures being reshaped in real time. Discussing such topics with HR leaders is essential because it allows us to speak honestly about the human impact of technology. In this way, all together we create a professional space where strategic conversations translate into responsible leadership decisions.”
MMG HR Summit Mediterranean 2026 will once again unite more than 300 senior HR leaders, founders, and CEOs to exchange European-level expertise, strengthen cross- cultural collaboration, and advance inclusive leadership practices across the region.
Organizer: Memory Makers Group
Corporate Catering Partner: Yummykitchen
Corporate Merch Partner: NextDay Printing
Strategic Communication Partner: Reputation City
Strategic Wellbeing Partner: Integrated Professional Growth
Strategic Partners: HackHR , The Top 10 HR Voices
Community Partners: Cyprus HR Management Association, Cyprus Business Group, Women in Tech Cyprus, CyHRMA Representation Thought Leadership
Media Partners: Digital Tree , Ergodotisi, MC Media.
Information
About MMG HR Summit: MMG HR Summit Mediterranean 2026 is the second international Summit, bringing together HR leaders, business executives, and industry experts. The summit is designed to encourage knowledge sharing, practical learning, and meaningful dialogue around people, culture, and the future of work.
About Memory Making Group: Memory Makers Group is a platform for meaningful experiences that helps businesses and HR communities grow through travel, events, and professional connections. MMG operates at the intersection of business impact and social value, creating not just services but environments for knowledge exchange, collective thinking, and the development of human capital.
About Reputation City: Reputation City is an online reputation management company that creates clients’ Digital Profiles with a compliance-first mindset across search engines and AI platforms – ensuring every result builds trust and credibility.
MMG HR Summit Mediterranean 2026 will take place on 11–12 March at the Opus Events Venue in Limassol and bring together leading HR leaders, founders, and business decision-makers from across the Mediterranean region to explore the future of work.
As organizations accelerate digital transformation, technology alone is no longer the differentiator – it is accessible to every business. The real challenge is to align systems, leadership, and culture – ensuring that digital progress helps to build trust, engagement, and human connection rather than eroding them. The main topic of the debates will be “The Human Side of Digital Transformation”, and the moderator will be Carol Constant, an expert in learning, development, and human resources, and the Founder of WhomLab. The debate’s participants will be featuring internationally recognized experts:
● Ben Whitter – globally acknowledged thought leader in employee experience and human-centric business transformation.
● Andri Kyprianou – HR leader shaping people strategy within international corporate environments.
● Elena Logutova – expert in organizational transformation and cross-cultural leadership.
● Elizaveta Lagireva – specialist in digital HR solutions and workforce innovation.
The conversation will focus on practical leadership decisions: redesigning the employee experience in digital environments, AI tools, preparing managers for hybrid realities, and maintaining a strong corporate culture while scaling technology-driven change. The debates directly reflect the Summit’s mission to create a space for dialogue about the future of work centered on People, Culture, and Global Connection.
Nadezhda Gorislavtseva, Co-Founder of Memory Makers Group and Organizer of MMG HR Summit Mediterranean, highlighted the importance of such discussions:
“Digital transformation is often discussed in terms of AI tools, systems, and efficiency. But behind every transformation are people – leaders navigating uncertainty, teams adapting to
change, and cultures being reshaped in real time. Discussing such topics with HR leaders is essential because it allows us to speak honestly about the human impact of technology. In this way, all together we create a professional space where strategic conversations translate into responsible leadership decisions.”
MMG HR Summit Mediterranean 2026 will once again unite more than 300 senior HR leaders, founders, and CEOs to exchange European-level expertise, strengthen cross- cultural collaboration, and advance inclusive leadership practices across the region.
Organizer: Memory Makers Group
Corporate Catering Partner: Yummykitchen
Corporate Merch Partner: NextDay Printing
Strategic Communication Partner: Reputation City
Strategic Wellbeing Partner: Integrated Professional Growth
Strategic Partners: HackHR , The Top 10 HR Voices
Community Partners: Cyprus HR Management Association, Cyprus Business Group, Women in Tech Cyprus, CyHRMA Representation Thought Leadership
Media Partners: Digital Tree , Ergodotisi, MC Media.
Information
About MMG HR Summit: MMG HR Summit Mediterranean 2026 is the second international Summit, bringing together HR leaders, business executives, and industry experts. The summit is designed to encourage knowledge sharing, practical learning, and meaningful dialogue around people, culture, and the future of work.
About Memory Making Group: Memory Makers Group is a platform for meaningful experiences that helps businesses and HR communities grow through travel, events, and professional connections. MMG operates at the intersection of business impact and social value, creating not just services but environments for knowledge exchange, collective thinking, and the development of human capital.
About Reputation City: Reputation City is an online reputation management company that creates clients’ Digital Profiles with a compliance-first mindset across search engines and AI platforms – ensuring every result builds trust and credibility.
FBI Arrests John “Lick” Daghita After ZachXBT Investigation Into $46M Crypto Theft
John “Lick” Daghita – a U.S. government contractor, accused of stealing more than $46 million in seized cryptocurrency from the U.S. Marshals Service, has been arrested in the Caribbean following an investigation by on-chain investigator ZachXBT.
The arrest marks a major development in a case that drew widespread attention earlier this year after ZachXBT publicly exposed the alleged theft and linked it to Daghita’s access to government-controlled crypto assets.
ZachXBT Investigation Uncovered the $46M Theft
According to ZachXBT, the investigation began in late January 2026 when he reported that Daghita had stolen over $46 million in seized crypto assets from the U.S. government.
The funds were allegedly taken by abusing access through CMDSS — a company owned by Daghita’s father that held a contract with the U.S. Marshals Service (USMS), which manages seized digital assets.
ZachXBT said that after the investigation was published, Daghita repeatedly mocked him through a Telegram channel and even carried out a “dust attack” by sending small amounts of the allegedly stolen funds to ZachXBT’s public wallet.
Screenshots shared by the investigator on X also show Daghita in handcuffs following the arrest.
FBI Confirms Arrest in Joint International Operation
The arrest was confirmed by FBI Director Kash Patel, who said the operation involved international law enforcement agencies.
“Last night, John Daghita – a U.S. government contractor who allegedly stole more than $46 million in cryptocurrency from the U.S Marshals Service – was arrested on the island of Saint Martin by the French Gendarmerie’s premier elite tactical unit in a joint operation with the @FBI.”
Patel also thanked the International Cooperation Team Serious Crime Unit of the French Gendarmerie National in Saint Martin and the Groupe d’intervention de la Gendarmerie nationale of Guadeloupe for their coordination in the operation.
He added that the FBI will continue working with international partners to pursue individuals involved in crypto-related financial crimes.
The case highlights growing concerns around the custody and management of government-seized digital assets. As law enforcement agencies increasingly hold large amounts of cryptocurrency confiscated during investigations, internal access controls and contractor oversight have become a critical security issue.
The arrest marks a major development in a case that drew widespread attention earlier this year after ZachXBT publicly exposed the alleged theft and linked it to Daghita’s access to government-controlled crypto assets.
ZachXBT Investigation Uncovered the $46M Theft
According to ZachXBT, the investigation began in late January 2026 when he reported that Daghita had stolen over $46 million in seized crypto assets from the U.S. government.
The funds were allegedly taken by abusing access through CMDSS — a company owned by Daghita’s father that held a contract with the U.S. Marshals Service (USMS), which manages seized digital assets.
ZachXBT said that after the investigation was published, Daghita repeatedly mocked him through a Telegram channel and even carried out a “dust attack” by sending small amounts of the allegedly stolen funds to ZachXBT’s public wallet.
Screenshots shared by the investigator on X also show Daghita in handcuffs following the arrest.
FBI Confirms Arrest in Joint International Operation
The arrest was confirmed by FBI Director Kash Patel, who said the operation involved international law enforcement agencies.
“Last night, John Daghita – a U.S. government contractor who allegedly stole more than $46 million in cryptocurrency from the U.S Marshals Service – was arrested on the island of Saint Martin by the French Gendarmerie’s premier elite tactical unit in a joint operation with the @FBI.”
Patel also thanked the International Cooperation Team Serious Crime Unit of the French Gendarmerie National in Saint Martin and the Groupe d’intervention de la Gendarmerie nationale of Guadeloupe for their coordination in the operation.
He added that the FBI will continue working with international partners to pursue individuals involved in crypto-related financial crimes.
The case highlights growing concerns around the custody and management of government-seized digital assets. As law enforcement agencies increasingly hold large amounts of cryptocurrency confiscated during investigations, internal access controls and contractor oversight have become a critical security issue.
Crypto Investor Loses $23.6M in Violent Extortion, Funds Laundered Across DeFi
A crypto investor was violently extorted for approximately $23.6 million after attackers allegedly used weapons and threats of physical harm to force the victim to transfer funds.
The incident highlights a growing concern in the crypto industry: while most security discussions focus on hacks and smart contract exploits, offline threats targeting individuals are becoming an increasingly serious risk.
According to on-chain analytics platform Lookonchain, the victim — an X user known as @sillytuna — was forced to transfer 23.6 million $aEthUSDC to the attackers during the violent incident.
Funds Quickly Moved Across DeFi
Blockchain data shows that the attacker has already begun laundering the stolen assets.
Lookonchain reported that most of the funds were converted into approximately 20.34 million DAI, while a smaller portion was bridged to Arbitrum and subsequently deposited into Hyperliquid, where it was reportedly used to purchase Monero (XMR) — a privacy-focused cryptocurrency often associated with efforts to obscure transaction trails.
The rapid movement of funds across multiple protocols suggests a deliberate attempt to complicate tracking efforts.
Victim Says He Is Leaving Crypto
Following the incident, the victim publicly shared details of the attack on X and confirmed that law enforcement has been involved.
“$24 million dollar theft of AUSD from 0x6fe0fab2164d8e0d03ad6a628e2af78624060322 Involved violence, weapons, kidnapp and rape threats. Obvs police involved. Please pass on to all those who trace such things. And now… definitely out of crypto. Still have limbs, phew. Bruised, held off while I could, but can’t do that much with axes over your hands and feet.”
The victim also stated that the stolen funds were sent to the Ethereum address: 0x6fe0fab2164d8e0d03ad6a628e2af78624060322.
The case underscores how physical security risks are increasingly intersecting with the digital asset ecosystem, as criminals target high-value crypto holders not only through cyberattacks but also through real-world coercion and violence.
The incident highlights a growing concern in the crypto industry: while most security discussions focus on hacks and smart contract exploits, offline threats targeting individuals are becoming an increasingly serious risk.
According to on-chain analytics platform Lookonchain, the victim — an X user known as @sillytuna — was forced to transfer 23.6 million $aEthUSDC to the attackers during the violent incident.
Funds Quickly Moved Across DeFi
Blockchain data shows that the attacker has already begun laundering the stolen assets.
Lookonchain reported that most of the funds were converted into approximately 20.34 million DAI, while a smaller portion was bridged to Arbitrum and subsequently deposited into Hyperliquid, where it was reportedly used to purchase Monero (XMR) — a privacy-focused cryptocurrency often associated with efforts to obscure transaction trails.
The rapid movement of funds across multiple protocols suggests a deliberate attempt to complicate tracking efforts.
Victim Says He Is Leaving Crypto
Following the incident, the victim publicly shared details of the attack on X and confirmed that law enforcement has been involved.
“$24 million dollar theft of AUSD from 0x6fe0fab2164d8e0d03ad6a628e2af78624060322 Involved violence, weapons, kidnapp and rape threats. Obvs police involved. Please pass on to all those who trace such things. And now… definitely out of crypto. Still have limbs, phew. Bruised, held off while I could, but can’t do that much with axes over your hands and feet.”
The victim also stated that the stolen funds were sent to the Ethereum address: 0x6fe0fab2164d8e0d03ad6a628e2af78624060322.
The case underscores how physical security risks are increasingly intersecting with the digital asset ecosystem, as criminals target high-value crypto holders not only through cyberattacks but also through real-world coercion and violence.
Crypto Investor Loses $23.6M in Violent Extortion, Funds Laundered Across DeFi
A crypto investor was violently extorted for approximately $23.6 million after attackers allegedly used weapons and threats of physical harm to force the victim to transfer funds.
The incident highlights a growing concern in the crypto industry: while most security discussions focus on hacks and smart contract exploits, offline threats targeting individuals are becoming an increasingly serious risk.
According to on-chain analytics platform Lookonchain, the victim — an X user known as @sillytuna — was forced to transfer 23.6 million $aEthUSDC to the attackers during the violent incident.
Funds Quickly Moved Across DeFi
Blockchain data shows that the attacker has already begun laundering the stolen assets.
Lookonchain reported that most of the funds were converted into approximately 20.34 million DAI, while a smaller portion was bridged to Arbitrum and subsequently deposited into Hyperliquid, where it was reportedly used to purchase Monero (XMR) — a privacy-focused cryptocurrency often associated with efforts to obscure transaction trails.
The rapid movement of funds across multiple protocols suggests a deliberate attempt to complicate tracking efforts.
Victim Says He Is Leaving Crypto
Following the incident, the victim publicly shared details of the attack on X and confirmed that law enforcement has been involved.
“$24 million dollar theft of AUSD from 0x6fe0fab2164d8e0d03ad6a628e2af78624060322
Involved violence, weapons, kidnapp and rape threats. Obvs police involved.
Please pass on to all those who trace such things.
And now… definitely out of crypto.
Still have limbs, phew. Bruised, held off while I could, but can’t do that much with axes over your hands and feet.”
The victim also stated that the stolen funds were sent to the Ethereum address: 0x6fe0fab2164d8e0d03ad6a628e2af78624060322.
The case underscores how physical security risks are increasingly intersecting with the digital asset ecosystem, as criminals target high-value crypto holders not only through cyberattacks but also through real-world coercion and violence.
The incident highlights a growing concern in the crypto industry: while most security discussions focus on hacks and smart contract exploits, offline threats targeting individuals are becoming an increasingly serious risk.
According to on-chain analytics platform Lookonchain, the victim — an X user known as @sillytuna — was forced to transfer 23.6 million $aEthUSDC to the attackers during the violent incident.
Funds Quickly Moved Across DeFi
Blockchain data shows that the attacker has already begun laundering the stolen assets.
Lookonchain reported that most of the funds were converted into approximately 20.34 million DAI, while a smaller portion was bridged to Arbitrum and subsequently deposited into Hyperliquid, where it was reportedly used to purchase Monero (XMR) — a privacy-focused cryptocurrency often associated with efforts to obscure transaction trails.
The rapid movement of funds across multiple protocols suggests a deliberate attempt to complicate tracking efforts.
Victim Says He Is Leaving Crypto
Following the incident, the victim publicly shared details of the attack on X and confirmed that law enforcement has been involved.
“$24 million dollar theft of AUSD from 0x6fe0fab2164d8e0d03ad6a628e2af78624060322
Involved violence, weapons, kidnapp and rape threats. Obvs police involved.
Please pass on to all those who trace such things.
And now… definitely out of crypto.
Still have limbs, phew. Bruised, held off while I could, but can’t do that much with axes over your hands and feet.”
The victim also stated that the stolen funds were sent to the Ethereum address: 0x6fe0fab2164d8e0d03ad6a628e2af78624060322.
The case underscores how physical security risks are increasingly intersecting with the digital asset ecosystem, as criminals target high-value crypto holders not only through cyberattacks but also through real-world coercion and violence.
OpenAI May Launch Developer Platform to Challenge GitHub
OpenAI is reportedly working on a new code-hosting platform that could compete directly with Microsoft-owned GitHub, Reuters reports.
The project is still in the early stages of development and is not expected to launch for at least several months. The initiative reflects OpenAI’s growing ambitions in the developer tools ecosystem, where demand for AI-assisted coding and infrastructure for collaborative software development continues to expand.
A New Platform for Code Hosting
According to sources familiar with the matter, OpenAI engineers began exploring the idea after experiencing a series of service disruptions that temporarily made GitHub unavailable in recent months. The outages reportedly encouraged the company to consider building its own infrastructure for hosting and managing code repositories.
The platform could eventually allow developers to store, manage, and collaborate on code projects in a manner similar to GitHub. Some discussions inside the company have also included the possibility of offering repository access to customers as a paid service, though no final decisions have been made.
Neither OpenAI, Microsoft, nor GitHub have publicly commented on the reported project.
Potential Competition With Microsoft
If OpenAI proceeds with a commercial product, the move could place the AI company in direct competition with GitHub, the widely used developer platform owned by Microsoft.
The development is particularly notable given the close partnership between OpenAI and Microsoft. The tech giant has invested heavily in the AI firm and integrates OpenAI models into many of its products, including developer tools.
Earlier this year, both companies emphasized that they continue to maintain close collaboration across research, engineering, and product development. It remains unclear whether the new project could affect that relationship.
The report comes as OpenAI continues to attract massive investor interest. Its latest funding round reportedly valued the company at $840 billion, following a major $110 billion raise backed by large technology firms and investors including SoftBank, underscoring the ongoing global race to build AI infrastructure and developer platforms.
The project is still in the early stages of development and is not expected to launch for at least several months. The initiative reflects OpenAI’s growing ambitions in the developer tools ecosystem, where demand for AI-assisted coding and infrastructure for collaborative software development continues to expand.
A New Platform for Code Hosting
According to sources familiar with the matter, OpenAI engineers began exploring the idea after experiencing a series of service disruptions that temporarily made GitHub unavailable in recent months. The outages reportedly encouraged the company to consider building its own infrastructure for hosting and managing code repositories.
The platform could eventually allow developers to store, manage, and collaborate on code projects in a manner similar to GitHub. Some discussions inside the company have also included the possibility of offering repository access to customers as a paid service, though no final decisions have been made.
Neither OpenAI, Microsoft, nor GitHub have publicly commented on the reported project.
Potential Competition With Microsoft
If OpenAI proceeds with a commercial product, the move could place the AI company in direct competition with GitHub, the widely used developer platform owned by Microsoft.
The development is particularly notable given the close partnership between OpenAI and Microsoft. The tech giant has invested heavily in the AI firm and integrates OpenAI models into many of its products, including developer tools.
Earlier this year, both companies emphasized that they continue to maintain close collaboration across research, engineering, and product development. It remains unclear whether the new project could affect that relationship.
The report comes as OpenAI continues to attract massive investor interest. Its latest funding round reportedly valued the company at $840 billion, following a major $110 billion raise backed by large technology firms and investors including SoftBank, underscoring the ongoing global race to build AI infrastructure and developer platforms.
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