Grayscale has launched the Bitcoin Adopters ETF, which tracks companies with a corporate Bitcoin treasury strategy. 

Daily top performer — Curve Finance (CRV)

The S&P 500 rose 0.15% as investors shrugged off recession fears and reacted positively to strong tech earnings, with focus now shifting to upcoming Apple and Amazon results. Gold dropped to $3,245 on US-China trade optimism and a stronger dollar, with Fed rate cut hopes cushioning losses. The Coindesk Indices, which tracks the broader crypto market, fell 0.51%, with Bitcoin and Ether down 1.24% and 0.86%, respectively in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is CRV, which surged 11.4% after Spark's integration of new Curve pools, enhancing stablecoin liquidity and improving DeFi infrastructure.

Curve Finance (CRV), launched in 2020, is a DEX on Ethereum for low-fee swaps between stablecoins and similar assets, with yield-earning pools and DAO governance via the CRV token. Spark has 

 sUSDS/USDT and USDC/USDT Curve pools to its Spark Liquidity Layer (SLL), boosting stablecoin liquidity, enabling easier swaps, and supporting future direct USDT deposits and withdrawals via Spark Savings.

Check out the latest prices, charts, and data of 

 the Bitcoin Adopters ETF, which tracks companies with a corporate Bitcoin treasury strategy. The ETF includes firms like Tesla, Blockstream, and MARA. It reflects the growing trend of companies acquiring Bitcoin as a hedge against inflation. Grayscale's fund aims to provide exposure to companies in sectors like mining, automotive, and energy. Institutional BTC adoption, including Michael Saylor's Strategy, is driving Bitcoin's scarcity, which may lead to a supply crunch and rising Bitcoin prices in the future.

Yesterday, BTC spot ETFs saw $323.3M in outflows, with $32M from GBTC and $291.3M from other ETFs.

 its largest Galxe points event, running from May 4–8, 2025, where users can complete tasks to earn points. They also introduced the AlphaWave competition, a 7-day AI trading contest featuring 25 crypto agents. Users can vote for the agent they think will win to earn rewards and complete Galxe quests. New tasks will be added throughout the week.

Beginner

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Grayscale launches Bitcoin Adopters ETF, tracking companies with BTC treasury strategies

Discover how USDY, a yield-bearing stablecoin from Ondo Finance, offers secure, regulated returns backed by US Treasuries across multiple blockchains.

, which are crypto assets pegged to a major fiat asset, have gained tremendous popularity and are helping investors deal with the typical volatility of the market. For many years, stablecoin cryptocurrencies have been used for payments, principal value storage, B2B transactions and more. However, traditional stablecoins have always lacked the ability to generate yield. These assets are fixed at a certain rate (e.g., $1) and, due to inflation, they don’t protect against your funds’ value erosion. 

 have started to gain traction over the past several years. These "new generation" stablecoins, unlike their traditional counterparts, not only provide rate stability but also generate yields, growing your investment over time. One of the leading assets among yield-bearing stablecoins is US Dollar Yield (USDY), issued by Ondo USDY LLC, part of 

Backed by low-risk traditional finance (TradFi) reserves, USDY generates yields and is a fully composable asset that can be used throughout the DeFi ecosystems of multiple blockchains. The reserves and issuance of the stablecoin are also subject to high regulatory controls. In the world of yield-bearing stablecoins, USDY is among the top choices in terms of popularity, regulation and security.

What is the Ondo US Dollar Yield (USDY) Token?

 (USDY) is a yield-bearing stablecoin offered by Ondo USDY LLC, part of the Ondo Finance DeFi solutions provider. 

USDY’s value tracks that of the US dollar, and it’s backed by Treasury bills and demand deposit reserves. The coin issuer’s parent company, Ondo Finance, specializes in institutional-grade crypto solutions. Ondo aims to make on-chain institutional-grade finance tools and infrastructure accessible to anyone.

USDY was launched in August 2023. As of April 2025, the stablecoin has become available on 

 — a level of multichain coverage that few other stablecoins can match.

While USDY’s price tracks the US dollar’s, its rate is typically somewhat higher than $1 because yields earned by each unit of the stablecoin are added to it, increasing its nominal value.

 (RWAs), primarily Treasury bills, although some portion of the reserves may also be represented by bank demand deposits. Both of these financial asset types are considered cash equivalents.

To ensure the Ondo ecosystem's security, Ondo backs each $100 equivalent of USDY with reserves worth $104, maintaining a 4% overcollateralization rate at all times.

Ondo Finance takes the transparency of USDY seriously. The company has established a bankruptcy-remote mechanism, with a separate corporate entity controlling the issuance and oversight of the stablecoin in various ways, including a board of directors with an independent director, and segregation of assets and reporting from Ondo.

USDY is a fully composable asset that can be used in the DeFi ecosystems of its host blockchains for various purposes, such as collateral, 

USDY provides several significant benefits for its holders. First, it allows eligible individual and institutional investors to earn dollar-denominated yield. This is in contrast to traditional stablecoins, which provide no yield opportunities at all. While other yield-bearing stablecoins also generate returns for holders, some of these pay the yields in volatile cryptocurrencies, rather than high-quality assets.

Thanks to its dollar peg, USDY offers both yield and relative stability. Additionally, it’s fully composable, creating opportunities for use across various DeFi protocols. USDY is available on seven blockchains, providing access to more DeFi opportunities than most yield-bearing stablecoins.

The coin may also be used for passive holding, growing in value over time as yields accrue. In this capacity, USDY represents a good low-risk, on-chain investment opportunity.

Finally, USDY’s overcollateralization and backing by high-quality TradFi assets, Treasury bills and demand deposits make it one of the most secure yield-bearing stablecoins on the market.

How does Ondo US Dollar Yield (USDY) work?

Individuals and institutional entities need to undergo an onboarding process to acquire USDY, during which they submit relevant identity, legal and tax documents. Ondo diligently applies 

 (AML) checks in order to adhere to US securities laws, the Investment Company Act of 1940 and other relevant regulations.

US and UK residents cannot apply to buy USDY, although you may be eligible if you’re a US or UK citizen and reside abroad.

If your application is approved, you can be issued USDY 40 to 50 days after your initial deposit date, although you’ll start earning yield from the first day of your investment. The minimum amount for investment or redemption is $500. You can buy USDY from Ondo using the 

 stablecoin. US dollar wire transfers are also supported for amounts over $100,000.

Redemptions are only transferred in US dollars to bank accounts outside the US. You can redeem your USDY investment at any time, and the typical timeline to receive your funds is about 2–3 business days from the date of your request.

USDY accrues yield daily. The stablecoin’s yields are structured not to incur any US federal tax obligations. Ondo doesn’t charge any performance or management fees for USDY yields. However, the company earns income from a portion of yields generated by the underlying assets backing USDY.

As noted earlier, USDY’s yields accrue to each unit of the token. Therefore, the value of one USDY is usually above $1. For instance, the average value of USDY as of the time of this writing (Apr 30, 2025) is $1.11.

For investors who prefer a fixed $1 rate for the stablecoin, Ondo offers the rebasing version, called rUSDY. Yields for rUSDY are paid to your wallet in the form of additional tokens by increasing the supply of the crypto, while the principal remains at (or very close to) $1. This is known as rebasing. USDY and rUSDY are freely convertible between each other.

The rebased version of the coin might be useful to those who need to ensure rate stability (for example, for B2B payments of agreed-upon contractual amounts) while also earning yields from their investments.

 as a swap pair with the USDT stablecoin.

USDY boasts numerous benefits for investors — low-risk yields from high-quality traditional assets, wide multichain coverage, regulatory compliance, transparency, composability and rate stability. The combination of all these benefits is quite rare in the crypto market, and the investor community is definitely taking note: USDY is already the third-highest-ranked yield-bearing stablecoin by market cap as of late April 2025. 

Since the yield-bearing stablecoin niche is expanding, the advantages of the USDY are likely to attract further interest, both among the institutional crowd and with individuals keen to access high-quality, institutional-grade crypto products.

Intermediate

Ondo US Dollar Yield, USDY.png

What is Ondo US Dollar Yield (USDY) and how does it work?

Discover the 7 top Sui meme coins in 2025, from MIU to HIPPO, as they gain traction with fast growth, strong communities, and unique use cases.

 blockchains, have continued to rally as investors make bold moves with renewed risk appetites. As a 

 blockchain, Sui has continued to attract crypto enthusiasts — especially meme coin lovers, who appreciate the platform's speed and affordability.

Recent surges in trading volumes and market caps of SUI meme coins — such as MIU, LOFI and BLUB — highlight growing investor interest. For instance, BLUB experienced an 88% increase in just 24 hours from Apr 22–23, 2025, contributing to the broader rally of SUI as its price surged over 63% in April 2025.

These coins often incorporate unique themes and philanthropic efforts, such as HIPPO's wildlife conservation donations, that foster strong community support.

Let's look at the top Sui meme coins making waves in the crypto market.

​Sui-based meme coins are rapidly gaining traction due to a combination of technological advantages and vibrant community engagement. The 

 parallel transaction execution and unique gas pricing mechanism enable ultrafast transaction speeds and minimal fees. This makes Sui an ideal platform for the high-volume, speculative trading that meme coins often entail. Sui’s scalability and secure Move programming language attract developers seeking efficient and safe environments for launching their new tokens.​

 (DeFi) further supports meme coin growth, providing avenues for increased utility beyond mere speculation. Following are the top ​Sui meme coins based on market cap, as of Apr 30, 2025.

 is currently the leading ​Sui-based “cat meme coin,” with a market cap of $70.6 million. It draws in investors with its fun, energetic branding and community-driven spirit. MIU also features expanded utility beyond its cute cat hype, allowing users to access DeFi and 

 (NFT) opportunities on its platform. It also promotes long-term commitment via its 

 process, as stakers can earn up to 15% APR with 12 months of staking.

The project frequently launches community events and contests, strengthening its dedicated holder base. MIU’s success highlights the growing appetite for meme tokens on scalable blockchains like Sui. Its playful appeal and strong tokenomics have positioned it at the top of the ​Sui meme sector. MIU is a 

 coin: its total supply is 9 trillion tokens, of which 55% are dedicated to a 

, 15% allocated to staking rewards, 15% to ecosystem development, 10% to community and 5% reserved for the team.

MIU continues to ride the wave of growing meme adoption, aiming to become a lasting force within the Sui ecosystem and beyond.

With a market cap of $35.86 million and over 50 million app users, 

 (MEMEFI) is an ambitious Telegram project that blends the world of memes with SocialFi utilities. Unlike typical meme coins that rely solely on hype, MemeFi aims to engage Telegram users with an interactive web3 meme-themed clicker game that offers daily giveaways and incentivizes ad creations for enterprises.

Its native token, MEMEFI, is more than just a mere meme coin, and has use cases for 

You can trade MEMEFI on Bybit’s Spot trading platform (

 is a rising ​Sui meme coin known for its chill "lofi vibes" branding that resonates with a younger, internet-native audience. Beyond its fun appearance, LOFI has demonstrated solid growth by tapping into communities through music, lifestyle and crypto.

The project also ties in eco-conscious initiatives, focusing on providing clean water sources for global communities and addressing the impact of ocean waste and plastic on marine health, giving it a mission-driven angle not typically seen in meme coins. Besides direct donating, minting LOFI Mystic Yetis NFTs also helps contribute to the cause, with 20% of the proceeds going to the LOFI Foundation.

Lofi’s accessible vibe and shrewd marketing strategy continue to attract new supporters, helping LOFI to stand out in the increasingly crowded ​Sui meme scene. 

 (commonly known as HIPPO) is a community favorite in the ​Sui meme world. The HIPPO token mixes humor with philanthropy, donating a portion of its revenues to wildlife conservation initiatives, starting with Thailand’s Khao Kheow Open Zoo that houses Moo Deng, the adorable pygmy hippopotamus that inspired this viral meme coin. This feel-good approach has helped build an extremely loyal community around the HIPPO token.

Sudeng’s dual focus on memes and real-world impact gives it staying power. The project’s growing community engagement ensures that HIPPO remains relevant in a fast-moving crypto space.

You can buy HIPPO as a USDT Perpetual contract on Bybit (

 is making waves in the ​Sui meme coin ecosystem with its aquatic-themed branding and integration of meme culture. Known for its friendly, community-first approach, BLUB frequently hosts giveaways, meme competitions and liquidity incentives to maximize engagement.

The coin’s fun branding and its steady increase in active users have helped BLUB climb the ranks quickly. Its strong online presence and viral meme campaigns have attracted crypto enthusiasts who are looking for the next breakout meme project. As it continues building partnerships and expanding its reach, BLUB demonstrates strong potential to become a staple in the Sui meme scene.

 (TOILET) is a rising meme coin on ​Sui that embraces humor and absurdity in a way that resonates with crypto culture. Its branding focuses on being intentionally ridiculous, tapping into the viral tone of meme coins that don't take themselves too seriously.

The project’s organic, community-driven growth has made it one of the most talked-about newer entrants in the ​Sui meme space. Frequent meme contests, community raids and spontaneous airdrops help fuel engagement. One of its biggest events is the distribution of Toilet Club Alpha Pass NFTs to the top 100 TOILET holders (as indicated by the Apr 21, 2025 screenshot), which gives holders access to all of Toilet Dust's projects and events and the right to vote on Toilet Dust's future development.

Despite its humorous façade, TOILET’s strong holder base and active marketing tactics suggest it may remain relevant as Sui’s meme coin ecosystem continues to expand.

 (FUD), another top project in the ​Sui meme coin category, is built around an adorable pug mascot battling FUD (fear, uncertainty and doubt) in the crypto world. With a humorous tone and clever marketing, FUD has built a vibrant community of holders who embrace both its memes and its mission.

FUD leverages trending memes, contests and airdrop rewards to keep its community marketing fresh and viral, helping it steadily grow in popularity. Its deep integration of ​Sui apps like 

 — as well as its deflationary tokenomics, whereby 20% is dedicated to token burning — makes FUD a strong contender for future growth in the meme space.

Buying ​Sui meme coins on Bybit can be exciting. Nevertheless, it's important to recognize the risks and rewards involved. 

, and their prices can swing wildly and quickly, offering chances for sizeable gains as well as sudden losses.

Always approach these investments with caution, never risking more than you can afford to lose. That said, the fast-growing ​Sui ecosystem and meme culture can create rewarding opportunities for traders who stay informed and manage their risk properly.

Currently, you can buy MEMEFI as a Spot pair and Perpetual contract on Bybit. HIPPO is also available as a Perpetual contract. This gives traders the flexibility to choose the type of exposure they want — simple buying and holding with Spot, or leveraged trading with Perpetual contracts.

Spot trading is the most straightforward way to buy ​Sui meme coins, as you directly purchase the coin and own it outright. On Bybit, the process is simple. After choosing the Spot pair, such as MEMEFI/USDT, select your preferred order type — e.g., 

(you set the price you're willing to pay) — and confirm the trade to make your purchase.

Spot trading is ideal for beginning traders, as well as anyone who prefers a more straightforward, lower-risk approach as compared to 

Buying Sui meme coins as Perpetual contracts

Bybit offers MEMEFI and HIPPO as USDT Perpetual contracts for those seeking more advanced trading options. With Perpetual trading, you don’t own the actual coins; instead, you speculate on their price movement. Key points to understand include the following:

Perpetual contracts can offer significant rewards, but require a strong understanding of 

. Always start with lower leverage and practice solid trading discipline.

Whether you prefer the simplicity of Spot or the strategy of Perps, Bybit provides flexible ways to explore the booming ​Sui meme coin market.

The rapid rise of meme coins on the Sui blockchain highlights the power of community-driven projects when they’re paired with innovative technology. Thanks to Sui’s high-speed transactions, low fees and developer-friendly environment, Sui meme coins like MIU, LOFI and HIPPO have found a perfect ecosystem in which to thrive. Each project brings something unique to the table — whether humor, philanthropy, DeFi innovation or pure meme culture — creating a vibrant and diverse ​Sui meme coin landscape.

top sui meme coins.png

7 top Sui meme coins to pay attention to in 2025

Mastercard has partnered with Circle, Paxos, and Nuvei to allow 150 million merchants to accept stablecoin payments. 

Daily top performer — Drift Protocol (DRIFT)

The S&P 500 rose 0.58% for a sixth straight gain as markets await key inflation and GDP data, alongside earnings from Meta and Microsoft. Gold fell 0.60% to $3,323 as a stronger USD and improved risk appetite limited safe-haven demand. Prices remained range-bound, with key levels at $3,260 support and $3,400 resistance. The Coindesk Indices, which tracks the broader crypto market, rose 0.51%, with Bitcoin and Ether up 0.55% and 1.31%, respectively in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is DRIFT, which surged 28.7% following the introduction of Amplify, Drift's tool for simplified leverage that boosts yields with increased risk.

Drift Protocol (DRIFT), founded in 2021, is a decentralized exchange (DEX) on Solana offering spot trading, perpetuals, and market-making tools. Drift v2 builds on this by improving trading efficiency, security, and user-centric features, incorporating community feedback to enhance the platform. 

 by Drift automates leveraging strategies for higher yields by recursively borrowing against yield-generating assets. It simplifies the process, making leverage accessible with one click. However, risks such as liquidation, changing interest rates, and oracle failures exist. Amplify is designed for users with JLP or SOL LSTs seeking to boost yields with minimal complexity but comes with increased risk.

 with Circle, Paxos, and Nuvei to allow 150 million merchants to accept stablecoin payments. The company aims to make it easier for both merchants and consumers to use stablecoins, promoting blockchain technology's mainstream adoption. Additionally, Mastercard has launched a crypto payments card with MetaMask, enabling self-custodied fund transactions with fast processing speeds. Stablecoin market growth is expected to reach $3.7 trillion by 2030.

Yesterday, Bitcoin spot ETFs saw $43.9 million in net outflows, all from non-GBTC funds, while GBTC recorded zero flows.

, a Layer-1 blockchain focused on AI agents and user-owned IP, is offering a limited-time free ticket to its Summit Series for the next 18 hours. Users can also join the Camp Points Program by completing simple tasks to earn points, which may qualify them for a future $CAMP token airdrop. A minimum of 30 points is required to be eligible. Daily check-ins earn bonus points. VPN use may be needed for access.

Mastercard partners with Circle, Paxos, and Nuvei to enable stablecoin payments for 150 million merchants

Bybit Learn

DeFi

friend.tech, a decentralized social network driven by a blockchain token system, hopes to provide users with both socialization and monetization opportunities.

 community develops, people are realizing the crypto space has some engaging social applications. One of the newest 

 is friend.tech. Within just a few months of launching, this crypto project has already built an enthusiastic audience and earned 

However, it has also seen its fair share of controversies after its users were hit by a string of SIM swap attacks. 

Should you try to get involved in friend.tech? Learn more about the project to see whether it's right for you.

 driven by a blockchain token system, hopes to provide users with both socialization and monetization opportunities. People can connect their X (formerly Twitter) accounts to their friend.tech accounts and then sell tokens that offer special perks.

 are web3 digital currencies that make it easy to monetize a brand. Creators sell social tokens to their followers, who then receive access to private chat rooms, exclusive content or direct interactions between the brand and its audience.

friend.tech was designed by Racer, a pseudonymous developer behind several other crypto projects. Not much is known about this designer beyond Racer’s Twitter/X handle of 

. Even their social media presence is limited to a single account with privacy settings that block most users.

However, it's known that Racer was originally the lead dev on 

. As one of the first decentralized social media sites, the project allowed people who purchased NFTs to post on a shared Twitter account. Tweet DAO originally experienced a lot of hype in the crypto space before fading away after Twitter determined that it had blocked the site's use agreement. Now, friend.tech is taking the concepts from Racer's previous project and applying them to modern social media.

Friend.tech aims to create a seamless connection between social media and monetization, making it easy for crypto influencers to interact with followers while raising money from their supporters. Not only does this allow people to monetize their own presence without violating terms of service on other social media sites, but it also creates new levels of interaction between users.

Ultimately, friend.tech strives to create a more socially collaborative environment for crypto and web3 enthusiasts. By facilitating user engagement and giving users more rights over their own data, friend.tech hopes to build online communities where people share trading advice, investment goals and more.

friend.tech requires users to sign up by linking their X accounts to the site and creating a self-custodial wallet through 

. Social media users can then browse the crypto community and pick the crypto influencers they wish to follow. Users purchase shares of the influencers they're interested in. Also called "keys," these shares are social tokens that unlock exclusive content and can be resold at a price that’s based on current supply and demand.

Keyholders (and other social media users with keys) receive access to exclusive chat rooms with the influencer. Crypto influencers can also offer further perks, like investment classes or 

 rewards. Right now, becoming a friend.tech influencer or user is only available through invite codes, but this may change in the future.

In addition to the basic system for building online communities and forming exclusive chat rooms, friend.tech also includes several other features.

 is a way to access the highlights of exclusive chat rooms without having to pay for individual access. Any user who holds at least 1,000 friendtools (FTOOLS) tokens can access the friendtools mirror. This bot forwards messages from the top friend.tech chatrooms straight into the friendtools Discord channel in real time. It provides access to channels that would otherwise require a total of 30 ETH in purchases to view.

This convenient bot notifies channel members about new users who are joining the platform. It helps ensure you don't miss out on any early investment opportunities. This can also be a great way to learn about community members you wouldn't otherwise know.

You can further refine your notifications by filtering the types of social media influencers for whom you receive alerts. The filters feature lets you define whether you want to look at new users with more than 50,000 or 100,000 followers, which allows you to easily prioritize small, mid-sized or large influencers.

Make the most of your friend.tech assets by tracking the wallets of successful traders. This bot lets you see the social token purchases of notable friend.tech traders. You can get great investment advice and view social media trends with ease.

friend.tech's beta launch was one of the most popular blockchain technology projects of 2023. After first launching on Aug 11, 2023, the platform quickly began to attract attention. By Aug 19, it was raking in $1 million in gas fees each day, rising to $1.7 million just three days later. People were desperately begging for friend.tech invite codes, and at its peak the site was processing over 

. Everyone from crypto resource UpOnly to non-crypto influencers like video gamer Nadeshot was talking about friend.tech.

However, the number of buyers and sellers quickly plummeted from around 85,000 to just 17,800 as the amount of money flowing into friend.tech dropped rapidly and the price of keys for crypto influencers started to fall. By Aug 28, crypto analysts were already declaring that friend.tech was dead.

The precipitous decline in popularity has led many people to call friend.tech a 

 scam. Users point out that the project's developers have been behind controversial failed projects, such as Tweet DAO and 

. In both these cases, the projects flooded social media with impressive claims, promised to release more exciting news and then suddenly disappeared. Now, friend.tech developers are already going private on X, so there are some valid concerns that the team behind the project might quit developing it if it doesn't take off.

Ultimately, friend.tech isn't an outright scam. However, any new blockchain technology project has some inherent instability. Whether or not the platform will be a success will depend upon its ability to attract high-profile influencers. Though its design doesn't mean the developers can take users' money and run, it does mean that people who don't 

 can lose a lot of money on risky investments.

Unfortunately, in a recent unsettling wave of events, friend.tech has found itself entangled in a series of SIM swap attacks that have not only shaken the trust of its user base, but also raised eyebrows in the crypto community as they’ve brought to light the vulnerabilities that even blockchain-driven platforms can encounter.

In a sequence of events starting on Sep 30, 2023, a user, “

,” alerted the community on X (previously known as Twitter) about a SIM swap incident affecting their friend.tech account that resulted in a loss of more than 20 ETH. This was followed by similar reports on Oct 3, with musician 

 revealing a loss of 22 ETH due to a SIM swap amidst a flurry of phone calls, presumably intended to distract him from receiving a warning message from his telecom service provider. 

,” expressed bewilderment over their account breach, despite employing robust passwords, and a fourth individual, “

,” parted with approximately 60 ETH following a phishing scam that deceived them into divulging a login code. By Oct 5, 2023, 

 (worth $385,000) had been drained from just four different friend.tech users.

, a cryptocurrency investment firm, underscored the potential risk of friend.tech, stating that a hacker gaining entry to a friend.tech account could essentially "wipe the entire account." If one considers that a third of friend.tech accounts might be linked to phone numbers, an estimated $20 million could be susceptible to exploitation through user-targeted attacks on friend.tech’s network. Furthermore, Manifold emphasized that, in theory, the whole of friend.tech is in jeopardy, due to the manner in which the platform’s security is configured, and prioritizing the resolution of these issues is imperative.

The situation has escalated to such an extent that it isn’t just the financial losses that are a concern, but the overarching implications for the security and reliability of not just friend.tech, but all decentralized platforms, which are often hailed for their robust security mechanisms.

In the wake of these attacks, friend.tech is now under the microscope with the crypto community, investors and users keenly observing how the platform navigates through this crisis. In response to the attacks, friend.tech has 

 on Oct 5, 2023, for users to change their login methods. 

 regarding the non-activation of Privy's two-factor authentication (2FA) passcode feature, providing clarity on the situation. In the quality assurance (QA) process conducted on Oct 2, it was identified that Privy's UX does not prompt users to verify their passcode. Consequently, if users enter it incorrectly, neither Privy nor friend.tech has the capability to reset it. Given its present functionality, the feature poses the risk of users irrevocably locking themselves out of their own accounts. 

Recommendations aimed at enhancing the safety of the UX have been put forward. Privy is actively working to incorporate these suggestions, and friend.tech plans to integrate the features once these modifications have been implemented.

These incidents serve as a stark reminder that, while decentralized platforms offer a plethora of opportunities and have revolutionized the digital space, they’re not entirely immune to sophisticated and malicious attacks orchestrated by cybercriminals.

As friend.tech endeavors to regain its footing and restore user confidence, the platform is expected to undertake a rigorous review and enhancement of its security protocols to shield against future attacks and safeguard user assets and data. The incidents have also sounded an alarm for other decentralized platforms to scrutinize and bolster their security mechanisms, ensuring that they aren’t next in line to be targeted by such malicious cyber activities.

As we continue to observe the developments and actions taken by friend.tech in the aftermath of these attacks, these incidents serve as a pivotal moment for all stakeholders in the crypto and decentralized space to reflect, learn and fortify their digital realms, ensuring that the promises of security and trust in decentralized platforms aren’t merely theoretical but are firmly embedded in practice.

Despite its decline in popularity, there are still some investment opportunities in friend.tech. If you purchase shares at the right time, you can sell them for more money when the influencer spikes in popularity.

The other main advantage is in the online communities found on friend.tech. Things of interest are happening in the chat rooms, so potential users have access to all sorts of helpful crypto news and investing advice. As an exclusive, decentralized social network, friend.tech provides some special content not found anywhere else.

Though friend.tech has its perks, the base network isn’t that reliable. The website design and the friend.tech database have 

. Since you have to trust friend.tech with your Twitter/X login and your wallet information, you could end up losing valuable data if you don't take additional security steps, such as two-factor authentication. Moreover, you could also end up losing your ETH — just like other friend.tech users in the abovementioned SIM swap attacks.

The other big risk concerns the declining value of friend.tech social tokens and keys. If the site doesn't interest more users soon, the investment items you purchase on friend.tech could end up being worthless.

A major concern for investors is the fact that friend.tech lacks an official road map or white paper. It has no documentation of its progress or goals. The only things users know are that the project is currently in a beta launch, and that its developers hope to progress to a wide release after six months. They haven’t mentioned whether any new features are in the works.

Based on its spiking popularity in early August 2023, this project is worth exploring. With an invite code, you get access to a crypto community filled with motivated users and decentralized finance (

) experts. However, don't forget that friend.tech has already had its share of controversy, so it's a good idea to exercise caution. You need to do your own research and avoid overpaying for keys or invites. For best results, potential users need to remain objective and avoid investing more than they can afford to lose. In addition, it’s recommended you use a new email address with 2FA when you sign up for an account on friend.tech, as advised by X user 

friend.tech's ability to provide convenient and effective monetization of existing social media brands helps to fill a void in the current DeFi world. However, some issues with the base network and the project's developers suggest it might not stick around for long. While you should certainly grab an invite code if you can and check out friend.tech, avoid treating this investment as a sure thing.

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