Bitcoin Wallet Sells at $54 Buys $62
Arthur Hayes-linked wallet sold 115,453 $HYPE at $54.81 and repurchased 85,714 at $62.69; HYPE hit a record high of $64.24. #Update #Crypto
Decentralized finance (Defi)
Wintermute Launches $10B DeFi Lending Network
Wintermute launches Armitage on Morpho with two USDC vaults, enhancing DeFi lending with institutional risk management and liquidity. Plans include cross-chain expansion. #Update #DeFi
Galaxy Digital Launches $125M DeFi Yield Fund
Galaxy Digital and Sharplink launch a $125M DeFi yield fund, with Sharplink contributing $100M and Galaxy managing the pool for ETH returns. #Update #DeFi $ETH
Chainlink CCIP Gains Nearly $1B from Layerzero
Solv Protocol moves $700M in tokenized Bitcoin from Layerzero to Chainlink CCIP after a $292M exploit at KelpDAO, impacting DeFi bridging infrastructure. #Breaking #Crypto $LINK
Ethereum Exploit: KelpDAO Moves $300M to Chainlink
Lazarus Group stole $300M in rsETH from Layerzero’s infrastructure. KelpDAO blames Layerzero, migrating to Chainlink CCIP for security. #Breaking #Crypto $LINK
AI Agents to Dominate by 2028
Nansen predicts AI agents will dominate crypto investments by 2028, reshaping DeFi liquidity and trading structures. This shift parallels software engineering’s move to automation. #Update #Crypto
Pharos Surges to $1B on Mainnet Launch
Pharos Network launches Pacific Ocean Mainnet and $PROS token, achieving a $1B valuation with GCL New Energy partnership and $44M Series A funding. #Update #Crypto
Solana Protocol Shuts Down After $8M Exploit
Carrot shuts down after $285M Drift exploit; users have until May 14 to withdraw funds before forced deleveraging. Drift recovery via IOU token based on April 1 snapshot. #Breaking #Crypto $SOL
DeFi Faces MiCA Compliance Challenge
MiCA Decoded series by LegalBison highlights that MiCAR’s “fully decentralized” exemption is rare, emphasizing the need for compliance in DeFi projects. #Update #Legal
Aave V3 Boosts USDC Rates Post Exploit
Circle’s Chief Economist proposes raising USDC’s Aave V3 Slope 2 rate to 50% after a $292M KelpDAO exploit drained liquidity. AAVE token fell 20-26%.
Ethereum Markets Hit by Kelp rsETH Hack
An attacker exploited Kelp’s Layerzero V2 bridge, minting 116,500 rsETH, causing $123.7M-$230.1M in bad debt across markets. Aave DAO treasury holds $181M. #Breaking #Crypto #AAVE
Crypto Projects Hide 99% Market Maker Deals
Novora reports 91% of crypto protocols generate revenue, yet <1% disclose market maker deals, posing risks to token pricing and liquidity. #Update #Crypto
Coinbase Expands with Sensible Co-Founders
Coinbase acquires Sensible co-founders Jacob Frantz and Zachary Salmon in a strategic talent grab, enhancing their team. #Update #Crypto
Tokenized Loans Near $16B APR Drops
Active tokenized private credit loans near $16 billion, with APR slipping below 10%, reflecting rapid market growth and consolidation. #Update #Finance