Arbitrage

Maya Protocol stopped trading on MAYAChain after an attacker used a sequence of software failures to distort pool accounting and extract bitcoin and other assets. The direct haul was estimated near $1.65 million, while the broader liquidity-pool impact reached about $10.9 million as CACAO collapsed.

Bitcoin futures basis yields have fallen below two-year U.S. Treasury returns since February, marking a sharp reversal from the rich carry available during the bull market. The shift is weighing on futures activity while also signaling tighter market structure, deeper liquidity and fewer easy arbitrage opportunities.