News

BlockBeats News, June 1st, Cross-chain lending protocol Radiant Capital (RDNT) announced the initiation of a Project Sunset procedure. The team stated that since suffering a security breach in October 2024, the DAO has been working diligently for 18 months. However, due to the inability to achieve meaningful fund recovery, lack of additional funding, and depletion of operational funds, the project no longer has a viable path for further development. Radiant stated that the protocol will not shut down immediately but will enter a maintenance mode. The frontend interface will remain operational, on-chain smart contracts will remain accessible, and users can continue to perform operations such as asset withdrawal, loan repayment, and position management. Meanwhile, all development work will cease immediately, Borrow Caps will be adjusted to zero, RDNT token incentives will be halted, and treasury funds will only be used for essential operational expenses. The focus of future work will be on user security, fund recovery, and an orderly exit process. The team emphasized that ceasing operations does not mean abandoning fund recovery efforts. The claims portal will remain open, and if stolen funds are recovered in the future, the related assets will be returned to affected users. Currently, on-chain tracking, evidence collection, and asset recovery efforts are still ongoing. Radiant mentioned that although the protocol's development has formally reached its conclusion, the on-chain infrastructure will continue to exist, allowing users to safely exit the protocol and manage associated risks.

BlockBeats News, June 1st, On-chain trading platform Trade.xyz announced the official launch of IBM stock perpetual contract products. The products support trading with up to 10x leverage and provide 24/7 market trading services all year round. According to the platform, this product tracks the performance of International Business Machines Corporation (IBM) common stock price, allowing users to gain exposure to IBM's stock price without owning the underlying shares. IBM is a global leading enterprise technology company with businesses covering hybrid cloud, artificial intelligence, enterprise consulting, infrastructure, and software solutions, serving enterprise and government clients.

On June 1, according to Bitget market data, Virgin Galactic's stock was halted due to volatility, with the increase narrowing to 24% after previously surging by 44%.