Autor Cointelegraph By Jesse Coghlan

The White House has reportedly confirmed that US President Donald Trump will attend the exclusive event for top TRUMP memecoin holders at his Florida residence on Saturday, after questions were raised earlier this month over whether he would attend.Reuters reported on Friday that the White House confirmed Trump would deliver a keynote address at the gala luncheon organized by the company behind his Official Trump (TRUMP) memecoin.The gala is set to take place at Mar-a-Lago. It will be open to the top 297 holders of the TRUMP token, and the top 29 holders will also qualify for a private reception with the president.When the event was announced in March, a White House official told Politico that it was not locked into Trump’s schedule and that it was taking place the same day Trump said he would attend the White House Correspondents’ Association Dinner in Washington, DC, the first time he would do so as president.Donald Trump, pictured at a Turning Point USA event on April 17, is confirmed to be addressing an event for holders of his memecoin on April 25. Source: The White HouseThe event’s terms also state that Trump may not be able to attend the event, and it “may be canceled for any reason.”Trump’s potential attendance at the event has been a sticking point for some lawmakers, who have criticized the event as a conflict of interest for the president.Earlier this month, Democratic Senators Elizabeth Warren, Richard Blumenthal and Adam Schiff reportedly sent a letter to Bill Zanker, the individual behind the TRUMP memecoin, questioning whether Trump intends to “dangle access” to himself at the upcoming event.Related: Trump-linked American Bitcoin energizes 11,298 new ASICs“[O]rganizers are promoting a conference by dangling access to President Trump to potential attendees (and in doing so, are encouraging purchases of his meme coin that will generate transaction fees for the President and his family) on a day he may not actually be able to attend,” the letter said.It is the second event for holders of the TRUMP token. The first took place at a Trump golf club in May 2025 and drew criticism from those who said Trump was using his position as president for personal financial gain.Magazine: Quitting Trump’s top crypto job wasn’t easy: Bo HinesCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Trading firm Jane Street has asked a US court to toss a lawsuit brought by the administrator of the bankrupt Terraform Labs, accusing the company of insider trading that worsened the collapse of the Terra ecosystem.In a motion to dismiss filed in a Manhattan federal court on Thursday, Jane Street argued Terraform’s suit was an attempt “to extract cash from Jane Street to foot the bill for a fraud that Terraform itself perpetrated on the market.”“Terraform now claims it was victimized by Jane Street’s trading,” it added. “The problem with this theory is that Terraform’s fraud scheme — in which Jane Street had no involvement — has already been prosecuted, adjudicated, and punished.”Terraform’s court-appointed administrator, Todd Snyder, sued Jane Street, co-founder Robert Granieri, and employees Bryce Pratt and Michael Huang in February, accusing them of trading Terra tokens after receiving nonpublic information from “Terraform insiders.”A highlighted excerpt of Jane Street’s motion argues it traded Terra-linked tokens based on market signals, not insider information. Source: CourtListenerTerraform collapsed in May 2022 after its algorithmic stablecoin, TerraUSD, rapidly lost its peg to the US dollar, sending the price of the highly interconnected LUNA token tumbling and wiping out $40 billion in value.Jane Street argued in its motion that investors “saw the public signs of that collapse,” and it moved to “sell a deteriorating investment as the market was visibly collapsing.”The firm claimed that the reasons for Terraform’s collapse had already been decided by a court, noting that its founder, Do Kwon, pleaded guilty to conspiracy and wire fraud charges, for which he was sentenced to 15 years in prison.Jane Street claimed that Terraform’s complaint was also “self-defeating,” as it had stated that Jane Street’s largest TerraUSD sale took place 10 minutes after “supposed material nonpublic information was visible to the market.”Related: Sam Bankman-Fried withdraws motion for a new trial, asks for new judgeIt said Terraform also didn’t identify any material, nonpublic information Jane Street received when it alleged the trading firm sold more tokens in early May 2022 as Terraform transitioned to a new liquidity pool.“Plaintiff pleads ‘on information and belief’ that Jane Street learned the timing of Terraform’s transition to a new liquidity pool through ‘back-channel communications,’ yet cannot identify a single communication disclosing that timing — despite extensive pre-suit discovery,” the motion said.Jane Street asked the court to dismiss the suit with prejudice, meaning Terraform cannot bring the same lawsuit against it again.Magazine: How to fix suspected insider trading on Polymarket and KalshiCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Privacy-focused crypto protocol Umbra said it has taken down its front-end website to make it more difficult for hackers who have been using it to move funds from recent “high-profile hacks.”Umbra posted to X on Tuesday that it is aware that around $800,000 worth of stolen funds was moved via its protocol.It added that it made the decision to move the hosted version of its front end into maintenance mode and would restore it “as soon as we are assured that doing so won’t create obstacles to the current recovery efforts.”It comes just days after the Kelp protocol was exploited for over $280 million, which is suspected to have been carried out by North Korean hackers. Recent reports pointed to Umbra as among the protocols that the exploiter has been attempting to bridge funds from Ether to Bitcoin. North Korean hacking groups are heavily sanctioned by the US, and multiple crypto platforms have worked to freeze or stifle the hackers’ efforts to move the funds.Source: UmbraUmbra said, however, that there was “nothing we can do” to stop anyone from using its smart contracts or a local or self-hosted version of its open-source front end.Roman Storm warns front end freeze isn’t enoughRoman Storm, co-founder of the crypto mixer Tornado Cash, argued the move to pause the front end may not be enough to avoid ire from authorities. Storm was convicted in August of conspiring to operate an unlicensed money transmitting business, despite arguing that he was not in control of how the protocol was used. “Prosecutors in my case called me a liar when I said that I can’t control Tornado Cash,” said Storm, who beat charges of conspiring to violate US sanctions.He claimed that authorities viewed “changing a front end is the same thing as controlling an entire protocol.”Related: Crypto hackers stole $17B over past 10 years: DefiLlama“If you can make changes to the user interface, including further updates through new builds on IPFS, then you are in full control,” he added.In its post, Umbra said that its protocol was “useful for protecting the identity of the receiver, not the sender,” and wasn’t useful for hackers wanting to obscure their money trail. “All the stolen funds moved through the protocol can be identified, and we have been in touch with security researchers who are involved,” it added.Magazine: South Korea gets rich from crypto… North Korea gets weaponsCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy https://cointelegraph.com/editorial-policy

Coinbase’s quantum researchers have highlighted Algorand and Aptos’ work to prepare their networks for potential threats from quantum computing in a report on Tuesday, as they warned that other proof-of-stake chains may be more vulnerable to attacks.Coinbase’s Independent Advisory Board on Quantum Computing and Blockchain released a paper outlining the threat that quantum computers pose to blockchains and suggested ways to prepare networks for the technology.“A sufficiently powerful quantum computer could one day break the cryptography that secures digital assets across major blockchains,” Coinbase said. “The board has high confidence this type of machine will eventually be built.”Source: CoinbaseQuantum computers are an emerging technology expected to be significantly more powerful than today’s top supercomputers, which has some crypto analysts worried that the technology could eventually crack blockchains’ algorithms and break into crypto wallets.Algorand and Aptos more prepared for quantumCoinbase said in its report that the layer-1 blockchain Algorand has a “staged roadmap toward full quantum readiness,” and is among the first networks to have deployed cryptography designed to be secure against quantum computers.“At the transaction and execution layers, Algorand already provides the cryptographic tools necessary to support quantum-resistant accounts,” the report said, adding that users can create such accounts “without requiring protocol modifications.”It added that Algorand had recently completed its first quantum-resistant transaction on mainnet, but block proposals and committee voting mechanisms “remain vulnerable to quantum attacks,” which the blockchain is researching ways to secure.Coinbase said that Aptos, a competing layer-1 blockchain, was “well positioned for the transition to post-quantum secure transactions.”It explained that on Aptos, a user’s public key is stored as metadata associated with the account, and a user’s address isn’t derived from the hash of the user’s public key.“Users who want to become post-quantum secure need only sign a transaction that updates their authentication key to a post-quantum public key,” Coinbase said. “There is no need to move assets to a new account.”Proof-of-stake chains may be at greater riskCoinbase warned that proof-of-stake blockchains, including Ethereum and Solana, may be at greater risk to quantum computing because of the signature schemes validators use to secure the network, according to the board.Related: Adam Back says Bitcoin’s post-quantum shift may reveal true Satoshi stashHowever, Coinbase acknowledged that Solana has created a new signature scheme, and users can move their tokens to a new address based on the upgraded scheme and will be “no longer exposed to a quantum attacker.”Ethereum, too, “has a clear roadmap to address this in the near future,” Coinbase said, which includes upgrading signatures to be quantum-resistant.The report also discussed how networks could deal with quantum-vulnerable tokens and wallets, suggesting that blockchains could tell their users to migrate to quantum-proof wallets and that wallets with assets that are quantum-vulnerable would be revoked and lost forever.However, the board said that the threat of quantum computing “doesn’t exist yet,” as a computer that could threaten crypto “would need to be orders of magnitude more powerful than anything available today,” which could take at least a decade.Magazine: Bitcoin may face hard fork over any attempt to freeze Satoshi’s coinsCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy https://cointelegraph.com/editorial-policy