$290M KelpDAO Exploit, USDT Surges on Solana, Toly's 5 $SOL Challenge & More | Solana Weekly News

This week in the SolanaFloor newsroom: KelpDAO loses $290M to Lazarus Group as contagion hits Solana lending rates, Tether's USDT supply on Solana surges 16% in 7 days as Circle loses community trust. Plus, Polymarket and Kalshi enter the perps arena while Solana remains sidelined, Toly challenges hackers to crack his immutable app for a 5 SOL prize, and Singapore's 88 year old OCBC tokenizes a $526M gold fund on Solana, while CT debates whether Solana's PvP memecoin culture is costing the chain.

▶ Follow Solana Weekly News so you never miss the week in Solana.

📬 Get the stories first — subscribe to the SolanaFloor newsletter: https://solanafloor.com/newsletters

🔗 Follow along:

SolanaFloor → https://x.com/solanafloor

Finn → https://x.com/solace_fm

Thomas → https://x.com/thomasbahamas

Jack → https://x.com/_JackDunham

Full stories covered in this episode:

📍 $280M KelpDAO Exploit Forces DeFi Liquidity Crunch — Is Solana Safe?

https://solanafloor.com/news/280m-kelp-dao-exploit-forces-defi-liquidity-crunch-solana-safe

📍 Tether's $USDT Supply on Solana Jumps Over 14% in 7 Days

https://solanafloor.com/news/tether-s-usdt-supply-on-solana-jumps-over-14-in-7-days

📍 Polymarket, Kalshi Enter Perps Arena, Solana Sidelined in Both Sectors

https://solanafloor.com/news/polymarket-kalshi-enter-perps-arena-solana-sidelined-both-sectors

📍 "Return to Open Source Immutable Software" — Solana Co-Founder Issues Challenge to DeFi Community

https://solanafloor.com/news/return-open-source-immutable-software-solana-cofounder-issues-challenge-defi-community

📍 OCBC Brings $526M Physical Gold Fund Onchain with $GOLDX Launch on Solana

https://solanafloor.com/news/ocbc-brings-526-m-physical-gold-fund-onchain-with-goldx-launch-on-solana

📍 Traders Blame 'PvP Culture' for Solana's Languishing Memecoin Market

https://solanafloor.com/news/traders-blame-pv-p-culture-for-solana-s-languishing-memecoin-market