Frax Finance, a decentralized stablecoin protocol, announced that its assets, user funds, and protocol funds remain secure following LayerZero's decision to pause selected cross-chain messaging routes as a precaution. Frax Finance also confirmed that its smart contracts were not affected by this pause. LayerZero is a protocol that facilitates communication between different blockchain networks, and its temporary halt aims to ensure security. This update reassures users about the safety of their holdings amid the pause in LayerZero's services.
Frax Finance's update on fund safety comes as 11 out of 50 major cryptocurrencies on Pluang rose while 38 fell. For readers following the broader crypto market, here is Pluang's snapshot as of Nov 08, 2026 06:51 WIB: FIL (Filecoin) traded at Rp14.193 with a 1-day change of -3.93% and a typical hold time of 100 days, VET (VeChain) at Rp95 with -3.67% change and 149 days hold time, and SNX (Synthetix) at Rp2.994 with -3.26% change and 71 days hold time. Pluang order activity showed FIL with 13% sell and 87% buy, VET with 53% sell and 47% buy, and SNX with 0% sell and 100% buy.
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