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Galaxy has historically used such pullbacks to build positions. In September, the firm purchased more than $300 million worth of Solana, extending a broader accumulation strategy that has exceeded $1.5 billion across multiple assets.

These moves suggest Galaxy is less concerned with short-term price action and more focused on structural adoption and long-term value creation.

Expanding Into Tokenized Credit Markets

Beyond hedge fund strategies, Galaxy continues to push into blockchain-based financial infrastructure. Recently, the firm completed its first tokenized collateralized loan obligation, marking a significant step toward bringing private credit markets onchain.

The deal, issued on the Avalanche blockchain, has already financed tens of millions of dollars in loans and supports Galaxy’s crypto lending operations. By using blockchain rails for issuance, custody, and real-time collateral tracking, Galaxy is positioning itself at the forefront of tokenized finance.

This expansion underscores a broader vision where crypto is not merely a speculative asset class, but a foundational layer for future financial systems.

A Strategic Shift, Not a Retreat

Galaxy’s $100 million hedge fund is not a signal of retreat from crypto, but rather an evolution in how the firm approaches the market. As volatility replaces one-directional growth, adaptability becomes the primary advantage.

By combining digital assets, traditional equities, and active risk management, Galaxy is betting that the next phase of crypto will reward strategy over speculation. In a market no longer defined by  up only,  the ability to profit in both directions may prove to be the most valuable asset of all.

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Global Google Trends data paints a clear picture. Interest in the keyword  Bitcoin  surged dramatically following the U.S. presidential election in November 2024, when Donald Trump’s victory reignited speculation around crypto-friendly policies. However, that spike proved short-lived. As 2025 progressed, search volumes steadily declined, interrupted only by two modest upticks during the second half of the year.

This decline occurred even as Bitcoin moved through historic milestones. Prices climbed to new records, volatility dominated headlines, and institutional involvement deepened. Yet retail curiosity, as measured by search behavior, failed to keep pace.

Social Media Mentions Drop by Nearly a Third

The slowdown wasn’t limited to search engines. Data shared by Bitcoin cypherpunk Jameson Lopp revealed a significant decline in social media discussion. Posts on X containing the word  Bitcoin  fell by roughly 32% in 2025 compared to the previous year, totaling around 96 million mentions.

Activity peaked early in the year during moments of political and symbolic importance. The inauguration of President Trump, the pardon of Ross Ulbricht, and the announcement of a Strategic Bitcoin Reserve all triggered temporary spikes in discussion. Beyond these moments, engagement gradually faded, even as Bitcoin touched price levels that once would have dominated global headlines.

Record Prices Failed to Reignite the Crowd

One of the most surprising aspects of 2025 was how little noise accompanied Bitcoin’s most dramatic price movements. When BTC surged past $120,000 and later printed a new all-time high above $126,000, social chatter remained subdued. Even Bitcoin Pizza Day, traditionally a major cultural milestone for the community, produced only a modest increase in online discussion.

This muted response became even more apparent during October. As a bullish narrative gained traction and Bitcoin reached fresh highs, social activity stayed unusually low. Then came the crash. On October 10, more than $19 billion in leveraged crypto positions were wiped out in a single event, yet online engagement failed to explode as it might have in earlier cycles.

Influential Bitcoin Voices Never Went Silent

While overall chatter declined, prominent Bitcoin advocates remained highly active. Media intelligence data shows that Strategy chairman Michael Saylor published over 1,200 Bitcoin-related posts during the year, the vast majority carrying positive or neutral sentiment. His consistent messaging reflected long-term conviction rather than short-term speculation.

Blockstream CEO Adam Back was even more prolific, posting tens of thousands of times about Bitcoin. His activity spiked during periods of heightened fear, including moments when concerns over quantum computing threats dominated the narrative. Meanwhile, Human Rights Foundation strategist Alex Gladstein focused heavily on Bitcoin’s role in personal freedom and financial sovereignty, keeping ideological discussions alive even as broader interest waned.

Bearish Sentiment Persists Into 2026

As 2026 began, sentiment indicators continued to show caution. Analytics from Santiment revealed that social commentary surrounding Bitcoin grew increasingly bearish in mid-January, even as prices rallied sharply during the same period. This divergence highlighted a market driven more by capital flows than public optimism.

The Crypto Fear & Greed Index echoed this mood, spending much of early 2026 in fear-dominated territory. Yet beneath the pessimism, subtle signs of recovery began to form. Data from CryptoQuant showed the short-term Fear & Greed moving average crossing above the longer-term average, a signal often associated with improving confidence and potential price strength.

What This Shift Means for Traders and Investors

The decline in hype does not necessarily signal weakness. Instead, it may point to a more mature Bitcoin market, one less reliant on viral excitement and more influenced by fundamentals, liquidity, and institutional strategy. For traders, this environment rewards discipline, risk management, and access to advanced tools rather than emotional decision-making.

Platforms like BYDFi have become increasingly relevant in this new phase. As sentiment fluctuates and volatility remains high, traders are turning to exchanges that offer deep liquidity, flexible trading products, and robust risk controls. BYDFi’s growing presence among global crypto traders reflects this shift toward professionalism and strategic positioning rather than hype-driven speculation.

A Quieter Bitcoin, But a Stronger One

Bitcoin’s journey through 2025 and into 2026 suggests that attention is no longer the primary fuel behind price movement. The crowd may be quieter, searches fewer, and timelines less crowded, but the network continues to grow, evolve, and attract serious capital.

Always check the audit report before you deposit. And when you are ready to trade the tokens that have passed these rigorous standards, ensure you are using a secure exchange. Register at BYDFi today to trade on a platform that prioritizes security and asset protection.

Frequently Asked Questions (FAQ)

Q: How much does an audit cost? A: It varies wildly. A simple token audit might cost $5,000, while a complex DeFi protocol audit can cost upwards of $200,000 to $500,000 depending on the firm's reputation.

Q: Can AI replace human auditors? A: Not yet. AI is excellent at finding known bugs, but humans are still required to understand complex economic logic and novel attack vectors that the AI hasn't seen before.

Q: What is a "rug pull" vs. a "hack"? A: A hack is when an outsider exploits a code error. A rug pull is when the insiders (developers) use their admin privileges to steal the funds intentionally. Audits can help detect whether the developers have left "backdoors" that allow them to execute a rug pull.

To participate in this financial revolution you need a gateway you can trust. Register at BYDFi today to buy and store the digital assets that are reshaping the world economy.

Frequently Asked Questions (FAQ)

Q: Are cryptocurrencies legal?
A: In most major economies yes. Countries like the US and UK regulate cryptocurrencies as property or commodities. However some nations restrict their use for payments.

Q: Do I need a bank account to buy crypto?
A: Not always. While many exchanges require a bank transfer you can often use peer to peer methods or Bitcoin ATMs to convert cash directly into digital assets.

Q: Is crypto better than gold?
A: It is often called "digital gold." While physical gold has a longer history digital assets are more portable and divisible making them easier to use for actual payments.

The decentralized finance giant Aave is redefining its priorities once again. In a strategic shift that signals a renewed commitment to its DeFi roots, Aave has officially handed over the stewardship of Lens Protocol to Mask Network. Rather than an exit or acquisition, the move represents a recalibration of roles, allowing Lens to evolve faster on the consumer side while Aave concentrates on protocol-level innovation.

The transition marks an important moment for decentralized social infrastructure, especially as competition intensifies across Web3 social platforms. Lens, long positioned as a foundational layer rather than a consumer-facing app, is now preparing for its next phase of growth with Mask Network at the helm of product execution.

Why Aave Is Refocusing on Core DeFi Infrastructure

Aave founder Stani Kulechov confirmed that Aave will significantly narrow its involvement with Lens, shifting into a technical advisory role. The decision reflects Aave’s intention to concentrate its resources on decentralized finance, lending markets and protocol scalability rather than managing social applications.

From Aave’s perspective, Lens has reached a level of maturity where infrastructure stewardship no longer requires direct operational leadership. By stepping back from day-to-day execution, Aave is reinforcing its long-standing philosophy of building open systems and allowing specialized teams to drive adoption and innovation on top of them.

This approach mirrors a broader trend across Web3, where protocols increasingly separate infrastructure from user-facing products in order to scale more efficiently.

Mask Network Takes Control of the User Experience

With the handover complete, Mask Network now assumes responsibility for advancing Lens at the application layer. This includes shaping the product roadmap, refining user experience, guiding design decisions and overseeing the operational direction of social applications built on the Lens ecosystem.

Mask Network brings extensive experience in integrating blockchain features into social and messaging platforms, positioning it as a natural fit to drive Lens toward broader consumer adoption. Applications like Orb and future Lens-based products will now be developed with a sharper focus on usability, distribution and mainstream accessibility.

Despite the leadership shift, Lens remains fully open-source and permissionless. The protocol’s onchain social graph, profiles, follows and smart contracts continue to belong to the ecosystem rather than any single entity.

Lens Remains Infrastructure, Not a Platform

From the beginning, Lens was never intended to compete with traditional social networks as a standalone platform. Launched by Aave in 2022, the protocol was designed to give users ownership of their social identities and content through blockchain-based profiles and NFTs.

That vision has remained consistent. Lens exists as a shared social layer where multiple applications can coexist, interact and grow without locking users into a single interface. This structure allows developers to avoid the  cold start  problem, since new apps can immediately tap into an existing social graph rather than building an audience from scratch.

By transferring stewardship to Mask Network while preserving open access, Lens strengthens its original mission as neutral social infrastructure rather than a branded front-end product.

Vitalik Buterin Weighs In on the Future of Decentralized Social

Ethereum co-founder Vitalik Buterin publicly welcomed the transition, praising Aave’s stewardship of Lens and expressing optimism about what lies ahead. According to Buterin, decentralized social networks are essential for improving online discourse, precisely because they allow multiple clients to build on top of a shared data layer.

In 2026, Buterin himself has returned to decentralized social platforms, noting that his activity now flows through multi-client tools such as Firefly, which support Lens alongside Farcaster, X and Bluesky. His comments underscore a growing belief that the future of social media lies not in single dominant platforms, but in interoperable ecosystems driven by open data.

What This Means for Web3 Users and Investors

The Lens transition reflects a larger maturation of the Web3 space. Infrastructure protocols are becoming more focused, while consumer products are increasingly led by teams specialized in user adoption and experience. For users, this separation promises better-designed applications without compromising decentralization.

For investors and traders following the evolution of Web3 ecosystems, such structural shifts often signal long-term confidence rather than retreat. Platforms like BYDFi, which provide access to major DeFi tokens and emerging Web3 projects, allow users to track and trade assets connected to these evolving narratives. As decentralized social and DeFi continue to intersect, staying informed through reliable trading platforms becomes increasingly important.

A Strategic Shift, Not a Step Back

Ultimately, Aave’s decision to hand Lens stewardship to Mask Network is not about abandonment, but focus. By narrowing its role to protocol-level advisory work, Aave reinforces its identity as a DeFi infrastructure leader. At the same time, Lens gains a dedicated steward committed to pushing consumer adoption forward.

As decentralized social continues to mature, this transition may be remembered as a pivotal moment where infrastructure and product execution finally found their optimal balance.

Unlike traditional hacks that exploit smart contracts or exchange vulnerabilities, this attack succeeded through deception alone. The victim was reportedly convinced they were communicating with official Trezor support, only to unknowingly hand over the one piece of information that should never be shared: their hardware wallet seed phrase.

Within minutes, years of accumulated wealth were no longer under the victim’s control.

How the Attack Unfolded

According to blockchain investigator ZachXBT, the theft took place around 11:00 pm UTC. The attacker, impersonating a legitimate Trezor representative, manipulated the victim into revealing the recovery phrase associated with their hardware wallet. Once the seed phrase was exposed, the attacker gained complete and irreversible control over the wallet.

There was no exploit to patch, no password to reset, and no transaction to reverse. On-chain ownership changed hands instantly, and the funds were gone.

What followed was a rapid and highly coordinated laundering operation designed to erase any trace of the stolen assets.

Breaking Down the Stolen Assets

The scale of the theft stunned even seasoned blockchain analysts. The wallet contained approximately 1,459 Bitcoin, valued at around $139 million, alongside a massive 2.05 million Litecoin, worth roughly $153 million at the time of the attack.

Almost immediately, the attacker began dispersing the funds across multiple networks, fragmenting the transaction trail and complicating any recovery attempts. Large portions of the stolen crypto were converted using instant exchange services, while others were bridged across different blockchains to further obscure the source.

Monero Surge Raises Red Flags

A significant portion of the stolen assets was swapped into Monero, a privacy-focused cryptocurrency known for its untraceable transactions. This sudden influx of capital caused a noticeable spike in Monero’s price, drawing attention from traders and analysts who quickly suspected illicit activity.

The use of Monero was no coincidence. By converting Bitcoin and Litecoin into a privacy coin, the attacker dramatically reduced the effectiveness of blockchain tracking tools, making it far more difficult for investigators to follow the money.

THORChain and the Cross-Chain Controversy

In parallel with the Monero conversions, the attacker used THORChain to bridge large amounts of Bitcoin across networks such as Ethereum, XRP, and Litecoin. This strategy allowed value to move seamlessly between blockchains without relying on centralized exchanges, avoiding traditional compliance checks and account freezes.

The incident reignited a heated debate within the crypto community. Critics argued that decentralized cross-chain protocols are increasingly being exploited as laundering tools during large-scale thefts, while defenders countered that open infrastructure should not be blamed for criminal misuse.

Regardless of where one stands, this attack demonstrated how powerful and dangerous cross-chain liquidity can be in the wrong hands.

A Small Win Amid a Massive Loss

Despite the speed and complexity of the laundering process, not all hope was lost. Cybersecurity firm ZeroShadow revealed that blockchain monitoring teams managed to track part of the stolen funds in real time. Within approximately 20 minutes, around $700,000 worth of assets were flagged and frozen before they could be fully converted into privacy coins.

While this represents only a fraction of the total loss, it proved that rapid coordination between analytics firms and platforms can still make a difference, even in fast-moving attacks of this magnitude.

Clearing the Air on State-Sponsored Claims

As rumors spread across social media, some speculated that the theft might be linked to a state-sponsored hacking group, particularly North Korea, which has been associated with several high-profile crypto crimes in the past.

ZachXBT was quick to dismiss these claims.  It’s not North Korea,  he stated plainly, emphasizing that the attack bore all the hallmarks of a classic social engineering scam rather than a geopolitical cyber operation.

Not an Isolated Incident

This $282 million loss is not an anomaly. Just one year earlier, an elderly Bitcoin holder in the United States reportedly lost $330 million in another social engineering scam. That victim had quietly held more than 3,000 BTC since 2017, with minimal activity, making the sudden movement of funds immediately suspicious.

In that case, the attacker used peel chains and instant exchanges before converting much of the stolen Bitcoin into Monero, following a pattern eerily similar to the 2026 heist.

The Real Lesson: Security Is Human

These incidents underscore a harsh truth about crypto security. Hardware wallets, cold storage, and decentralized networks can be nearly unbreakable from a technical standpoint, but none of them can protect users from manipulation, impersonation, and misplaced trust.

No legitimate wallet provider will ever ask for a seed phrase. Once it is shared, ownership is effectively transferred, and recovery becomes almost impossible.

As crypto adoption grows and individual wallets hold increasingly life-changing sums, social engineering is emerging as the most dangerous attack vector in the industry. The code may be secure, but the human element remains vulnerable.

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The transition marks one of the most significant tokenomic updates in Pendle’s history and reflects a wider trend across DeFi: simplifying governance, improving liquidity, and lowering barriers for everyday users.

Why Pendle Is Moving Away From vePENDLE

Pendle’s original governance system was built around vePENDLE, a vote-escrow token that required users to lock their PENDLE for long periods of time. While the model was intended to encourage long-term alignment with the protocol, it ultimately created friction for most participants.

According to the Pendle team, long lock-up durations, non-transferability, and limited interoperability made vePENDLE unattractive to a large segment of users. Governance participation also required weekly engagement and a deep understanding of DeFi mechanics, which concentrated rewards among a small group of advanced participants.

This complexity became increasingly misaligned with Pendle’s expanding user base and growing total value locked, prompting the team to rethink how governance and incentives should function.

Introducing sPENDLE: A More Liquid Governance Token

The newly announced sPENDLE token is designed to address these shortcomings by introducing liquidity and flexibility into Pendle’s governance framework. Unlike vePENDLE, sPENDLE is a liquid staking and governance token that allows holders to exit their position with a 14-day withdrawal period, or immediately by paying a small fee.

This shift removes the psychological and financial burden of long-term lock-ups, making governance participation more accessible to both retail users and institutions. The Pendle team believes that lowering exit friction will significantly improve adoption and engagement across the ecosystem.

Staking for sPENDLE is set to go live shortly, while new vePENDLE locks will be paused ahead of a snapshot that will facilitate the transition.

Interoperability and DeFi Integration Take Center Stage

One of the most critical limitations of vePENDLE was its lack of interoperability. Because the token was non-transferable, it could not be used across other DeFi platforms, limiting its utility beyond Pendle’s own ecosystem.

sPENDLE changes that dynamic entirely. The new token is designed to integrate with multiple DeFi protocols, opening the door to use cases such as restaking, composable yield strategies, and broader liquidity participation. This aligns Pendle with a growing movement toward modular DeFi, where assets are expected to function seamlessly across platforms.

For traders and investors who already operate across multiple ecosystems, this change significantly increases the attractiveness of holding PENDLE.

A Simpler Governance Model Focused on Real Decisions

Pendle is also redesigning how governance itself works. Under the new structure, token holders will no longer be required to participate in weekly votes to remain eligible for rewards. Instead, governance participation will focus only on major protocol decisions, known as Pendle Protocol Proposals.

When no critical proposal is active, holders will automatically remain eligible for governance rewards without taking any action. This approach aims to strike a balance between meaningful decentralization and user convenience, ensuring that governance rewards are no longer limited to a small, highly technical minority.

Revenue Buybacks and Long-Term Incentives

To further strengthen the new model, Pendle plans to allocate up to 80% of its protocol revenue toward PENDLE token buybacks, which will then be distributed as governance rewards. This mechanism directly links protocol performance to token holder incentives, reinforcing long-term alignment without forcing users into rigid lock-ups.

With Pendle reportedly generating tens of millions of dollars in revenue, this buyback-driven reward system could become a powerful driver of sustainable value for holders under the new sPENDLE framework.

Pendle’s Position in the DeFi Market

Despite its governance challenges, Pendle has grown into one of the largest DeFi platforms by total value locked, ranking among the top protocols in the sector with billions of dollars secured on-chain. The governance revamp suggests that Pendle is now prioritizing scalability of participation, not just scalability of capital.

If successful, the sPENDLE transition could serve as a blueprint for other DeFi protocols struggling with low governance engagement.

Tracking PENDLE and DeFi Tokens on BYDFi

As governance innovation continues across DeFi, many traders prefer using flexible and advanced trading platforms to gain exposure to tokens like PENDLE. Platforms such as BYDFi provide access to a wide range of crypto assets, market analysis tools, and derivatives trading options, making them a practical choice for users looking to trade or hedge DeFi-related tokens.

For investors monitoring Pendle’s transition and broader DeFi governance trends, BYDFi offers a streamlined environment to track price movements, manage risk, and explore emerging opportunities without the complexity often associated with decentralized interfaces.

A Strategic Reset With Broader Implications

Pendle’s move from vePENDLE to sPENDLE is more than a technical upgrade—it is a strategic reset that acknowledges the realities of user behavior in modern DeFi. By prioritizing liquidity, interoperability, and simplified governance, Pendle is positioning itself for its next stage of growth.

Whether sPENDLE delivers the adoption boost Pendle expects will become clearer in the months ahead. However, one thing is certain: governance models that prioritize usability and flexibility are quickly becoming the standard in decentralized finance.