Blast sets October 26 cutoff for normal withdrawals
Blast sets October 26 cutoff for normal withdrawalsA Lido unwind will pause exits first; bridge-contract withdrawals remain available after the interface closes.
Blast is closing because the cost of running its Ethereum layer-2 exceeds its revenue, ending a network built around native yield. For users and developers, the immediate consequence is a staged exit: access depends first on unwinding the assets that generated that yield, then on which withdrawal route remains available. Access risks also feature in newly disclosed Eclair flaws and an exploit of a third-party Aave adapter. Eclair’s fixes distinguish preventing another crash from recovering an overloaded node; the adapter incident left Aave’s core contracts unaffected, according to its founder. Top News
Blast shuts down $20M layer-2 network, forcing Oct. 26 exit deadlineBlast, which announced $20 million in funding in 2023, says user withdrawals will pause while it unwinds Lido assets, a process expected to take about a week. Exits should then resume with a 24-hour delay, including for balances held in its web app. After October 26, 2026, users will need to interact directly with bridge contracts on Ethereum mainnet; Blast promises instructions but has not specified an exact reopening date or cutoff time. Unpatched Eclair Bitcoin Lightning nodes could crash again every time they restartReachable nodes running v0.14.0 or earlier could retain enough unfunded-channel records to crash repeatedly. July’s v0.14.1 fixed these flaws; ACINQ recommends v0.14.3 for separate security issues. The demonstration does not establish live exploitation. Evernorth’s Nasdaq XRP treasury is approved, but its real buying power isn’t the $300 million expectedShareholders approved the merger, with closing expected October 7 subject to conditions. Roughly $88.5 million in closing-linked gross cash sources remains conditional, before expenses and other uses; additional XRP purchases are unconfirmed. From Our Sponsor
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Elsewhere in CryptoCrypto hackers exploit third-party Aave tool to steal 114 ETHSlowMist traced losses to two wallets using FlashLoopAdapter; Aave’s founder said its core contracts were unaffected. Stablecoin issuers have replaced 40% of China’s lost US Treasury demandIssuers’ short-term reserve growth matches part of China’s retreat in dollars, but cannot replace its longer-dated demand. Bitcoin’s $85,000 sell wall is gone and traders are now betting on $100,000October 2 reporting placed holder cost bases near $89,000; concentrated call exposure does not establish a future price. Why Strategy’s STRC calculator shows $210 for a share it can redeem at $101The illustrative model omits explicit call-option valuation and future dividend resets; holders cannot demand redemption. Why an $88 billion bank reserve drop doesn’t prove a Bitcoin liquidity squeeze – yetWednesday balances fell while weekly averages rose, leaving any transmission to Bitcoin financing unproven. The Catalyst by CryptoSlateWhat’s moving crypto. Why it matters. What to watch next. CryptoSlate has covered crypto, markets, and decentralized technology since 2017. Read CryptoSlate · Tips, questions & corrections · Sponsor The Catalyst For information, not investment advice.
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