Bitcoin’s surge above $69,000 began far beyond crypto. A Treasury bond buyback announcement pushed yields lower, weakened the dollar and lit the fuse beneath an already leveraged market.
BonkDAO lost $20M through its own voting process. No backdoor, no stolen key, no broken contract. Just governance doing what governance was allowed to do. The treasury didn’t disappear because the rules failed. It disappeared because the rules worked.
Summer Finance didn’t lose $6M because the chain broke. It lost it because the protocol trusted an assumption the attacker could bend. That’s the quiet horror of DeFi: the code can execute perfectly and still pay out the wrong reality.
Ireland just seized another 500 BTC from the Clifton Collins stash. Not because Bitcoin failed, but because the private keys were reportedly written on paper and hidden in a fishing rod case. The protocol held. The custody didn’t.