
Arbitrum DAO Votes on $71M Transfer to DeFi United Recovery Fund
Arbitrum's governance has launched a vote to transfer 30,766 ETH (~$71M) to the DeFi United fund created to cover losses from the Kelp exploit.
Latest cryptocurrency market and DeFi events

Arbitrum's governance has launched a vote to transfer 30,766 ETH (~$71M) to the DeFi United fund created to cover losses from the Kelp exploit.

Ethereum L2 network MegaETH completed its token generation event for MEGA with a total supply of 10 billion tokens. The price fell 21% after listing on Binance, KuCoin, and Bitget.

Griff Green from Arbitrum's Security Council accused Circle of ignoring hacker exploits and urged users to sell USDC to pressure the company into action.

Tether has partnered with Canaan and ACME Swisstech to develop a modular bitcoin mining infrastructure that allows operators to assemble and upgrade systems from individual components.

Omnichain protocol LayerZero Labs is pledging over 10,000 ETH (~$23M) to the Aave-led DeFi United initiative launched after the Kelp exploit. The move drew mixed reactions from the community.

Bitcoin developer Paul Sztorc pushed back against community criticism of his eCash hard fork proposal, clarifying that the project gifts Satoshi 600,000 eCash rather than taking any BTC.

The Ethereum Economic Zone (EEZ) initiative will be open not just to L2 rollups but also to independent Layer-1 networks. Gnosis co-founder Friederike Ernst detailed the criteria and mechanics behind the liquidity fragmentation solution.

Curve Finance founder Michael Egorov introduced a mechanism to convert bad debts into tradable assets. The pilot targets LlamaLend's $700,000 stuck debt from October 2024.

Bitcoin developer Paul Sztorc has announced a new hard fork called eCash, planned for August 2026. The project includes a 1:1 coin distribution to BTC holders and controversial redistribution of coins from wallets attributed to Satoshi Nakamoto.

Following the Kelp exploit, leading DeFi protocols have banded together under the DeFi United initiative, committing tens of thousands of ETH to restore rsETH backing and stabilize Aave.

Coinbase-backed L2 network Base has deployed its Azul upgrade on testnet, introducing a multi-proof system and a unified client stack. Mainnet activation is scheduled for May 13.

Ripple has published a detailed four-phase roadmap to migrate XRP Ledger to quantum-resistant cryptography, with full network transition targeted for 2028.

A consortium of 12 European banks led by Qivalis has selected Fireblocks to build a MiCA-compliant euro stablecoin. Participants include BBVA, BNP Paribas, ING, and UniCredit.

Circle has released USDC Bridge, a cross-chain transfer tool built on CCTP that uses a burn-and-mint mechanism to move USDC natively between blockchains, eliminating the need for wrapped tokens.

World has announced its biggest protocol upgrade to date, introducing account-based architecture, an open-source SDK, and integrations with Tinder, Zoom, Docusign, and other major platforms.

Jameson Lopp and a team of experts published a draft BIP-361 proposing a phased freeze of coins on quantum-vulnerable addresses. The Bitcoin community condemned the initiative as confiscatory.

Liquid restaking protocol Ether.fi has committed to providing $3 billion in assets to ETHGas over three years, supplying validator liquidity for an Ethereum blockspace futures marketplace.

Ethereum researchers have drafted EIP-8142, a standard that encodes transaction data directly into blob objects to improve network scalability and reduce validator burden.

Telegram's built-in Wallet now supports perpetual futures trading with up to 50x leverage across 50+ assets, powered by decentralized exchange Lighter.

USDC issuer Circle has announced cirBTC, a wrapped Bitcoin token backed 1:1 by real BTC, targeting institutional participants and the broader DeFi ecosystem.

Aave has launched its fourth protocol version on Ethereum mainnet, introducing a Hub and Spoke liquidity architecture with three specialized hubs and a new free interface called Aave Pro.

Gnosis and Zisk, backed by the Ethereum Foundation, have launched the Ethereum Economic Zone (EEZ) — a framework designed to unify fragmented Layer 2 rollups with shared liquidity and base-layer settlements.

Infrastructure startup Eureka Labs closed a $6.7M seed round to develop programmable Ethereum blocks that transform passive transaction containers into active execution environments.
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