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GM. Crypto updates are sticking like mango juice to your hands.

Let's wipe it up and get into it:

🍍 Market panic and price drops everywhere;

🚗 DeFi's missing keys;

🍋 AWS-OpenAI computing deal, Trump on Zhao pardon + more

🍍 Market flavor today

🥝 Memecoin harvest

Memes printing faster than your uncle's inkjet 📠

Data as of 09:38 AM EST.

Check out these memecoins and plenty more here.

🚗 DeFi's missing keys

Lending your car to a friend might seem like no big deal.

But let's say that friend secretly gives your keys to someone else, and suddenly five strangers are joyriding in your sedan.

Pretty soon, you've lost track of where your car is, who's driving it, or whether it's ever coming back.

That's basically what's happening in DeFi right now, thanks to the meltdown at Stream Finance.

Stream Finance was a DeFi platform experimenting with synthetic stablecoins - crypto tokens designed to track the value of a dollar, but backed only by algorithms and crypto collateral instead of actual USD.

Their flagship token, xUSD, was meant to stay pegged at $1. In theory, it offered users a stable, decentralized dollar they could lend, borrow, or trade across protocols.

The catch? Stability depended entirely on Stream's internal systems and how other projects used its tokens.

Now, Stream wasn't operating in isolation. Its synthetic assets - including xUSD - became integrated into major lending and yield platforms like Euler, Silo, and Morpho.

That meant users across multiple protocols were holding or using Stream's tokens without necessarily realizing how dependent they were on Stream's own balance sheet and risk management.

Then, something terrible happened: Stream reported a $93M loss and suddenly froze deposits and withdrawals.

Confidence evaporated overnight. xUSD dropped to $0.33 within hours.

And because this stablecoin was integrated into other platforms, the collapse didn't stop at Stream. Other protocols tied to xUSD, like TelosC and Elixir, were left nursing massive losses, their liquidity pools drained or devalued.

In total, blockchain analysts from Yields And More uncovered around $284M in tangled exposure across the network.

The lesson to take from this:

DeFi is made to remove middlemen, not to remove risk. When you swap banks for code, you trade human error for systemic design risk.

"Trustless" doesn't mean "safe" - it means you are the risk manager now.

Be careful with who you give the car keys.

🍋 News drops you can't miss

🌐 Don't let your bank drain you with fees. Our guide shows you smarter, cheaper ways to send money internationally.

🤖 AWS cut a $38B, 7-year deal to supply OpenAI with computing power. OpenAI's getting access to tons of NVIDIA GPUs and can level up to millions of CPUs if needed.

🇺🇸 Donald Trump said he doesn't know Changpeng Zhao, and the pardon wasn't political. He says there's no real connection between them.

🚀 A lot of blockchain startups get stuck chasing trends to win over investors. Rosie Sargsian from Ten Protocol says it's getting rare for teams to stick with long-term crypto projects.

⚖️ Coin Center's defending against fraud claims in court, backing Anton and James Peraire-Bueno. The two brothers are accused of using Ethereum MEV to profit, but Coin Center says it's not fraud.

🍌 Juicy memes