Coinbase’s Base mainnet stopped producing new blocks for nearly two hours on June 25, 2026 after an invalid block froze the network’s sequencer. Engineers first flagged unhealthy block production at 16:03 UTC and traced the issue to block #47,806,542 by 16:52 UTC. Sequencing resumed at 17:51 UTC and blockbuilding was confirmed healthy at 17:58 UTC, according to Base’s incident update.

Coinbase’s layer-2 network Base suffered an outage of about two hours on Thursday after an invalid block triggered a consensus failure that halted all transactions on the chain. The disruption began at 16:03 UTC, when Base’s status page flagged mainnet block production as “unhealthy.” Base later said operations were restored, user funds remained secure, and a full post-mortem would follow.

Crypto security incidents are often labeled “DeFi hacks” even when the underlying failure has little to do with smart-contract code. Several common breakdowns—stolen private keys, compromised signers, poisoned frontends, or governance abuse—can all end with funds moving on-chain, but they start in different places. In 2024, off-chain incidents made up 56.5% of attacks and 80.5% of stolen funds, according to Halborn. The piece argues that misnaming the failure can push the industry toward the wrong fix.

A consortium of five SBI-affiliated companies has launched JPYSC, described as Japan’s first trust-based stablecoin pegged to the yen. The group includes SBI Holdings, SBI Shinsei Bank, SBI Shinsei Trust Bank, SBI VC Trade and Singapore-based Startale Group. The stablecoin is issued by SBI Shinsei Trust Bank and distributed by SBI VC Trade, according to SBI’s announcement.

A sweeping cryptocurrency bill is facing a narrowing path to passage as the Senate’s calendar fills up. Pressure is building for the chamber to take up the measure next month, but competing priorities could squeeze out floor time.

OKX Europe says more than 2,700 crypto firms may be forced to exit the European Economic Area by July 1, 2026 as the EU’s MiCA framework reshapes the market. It said providers that lack authorization after that date will have to stop operating across the EEA. OKX Europe estimates that only about 210 companies have obtained full MiCA approval, compared with more than 3,000 firms previously active in Europe.

More than 70,000 U.S. law enforcement professionals are urging federal officials to revise parts of the Digital Asset Market Clarity Act (CLARITY Act). They warned that broad exemptions could weaken oversight, accountability, and investigative tools used in digital-asset crime cases. The coalition also called for maintaining Bank Secrecy Act, know-your-customer, and anti-money laundering requirements across digital-asset markets.

Security firm Novee identified “Cordyceps,” a class of exploitable CI/CD weaknesses in open-source repositories that could let attackers steal credentials, inject malicious code, and disrupt operations at major software organizations. The issues were found in repositories tied to Microsoft, Google, Apache, Cloudflare, and the Python Software Foundation, according to Novee. The companies said the vulnerabilities have been fixed.