Author: John Smith

Decentralized lending protocol Aave has officially launched on Ethereum layer 2 X Layer. Summary Aave has launched on X Layer, enabling OKX Wallet users to lend, borrow, and earn yield directly on the network without bridging assets. X Layer, developed by OKX, has seen limited growth so far, with about $25 million in total value locked. According to the official announcement, the launch will allow OKX Wallet users and DeFi participants to directly supply assets, borrow against collateral, and earn yield on the network without having to use a separate wallet or bridge assets across chains. X Layer was developed…

Lido’s decentralized autonomous organization has proposed a one-off buyback of its governance token to support price levels amid a prolonged downturn. Summary Lido DAO has proposed a one-off buyback of up to 10,000 stETH, about $20M, to accumulate LDO amid what it calls a significant valuation gap. The token is trading roughly 63% below its two-year median against Ether and remains down 95.9% from its all-time high. According to a governance proposal submitted by the Lido Ecosystem Operations team, the plan would allocate up to 10,000 stETH from the DAO’s treasury for Lido DAO to accumulate LDO (LDO). At current…

Peter Van Valkenburgh has warned that the crypto industry may lose a rare chance to secure clear legal protections in the United States.  Summary Van Valkenburgh said CLARITY would protect developers from crackdowns driven by politics, discretion, and fear. The Senate stalled the bill as banks and crypto firms clashed over stablecoin yields rules. Without legislation, crypto firms could rely on guidance that another US administration may reverse later. His comments came as the CLARITY Act remained stuck in the Senate, leaving the sector exposed to future policy changes if Congress does not turn current guidance into law. Van Valkenburgh,…

BNP Paribas is widening its digital asset offering in France by adding six crypto-linked exchange-traded notes for retail investors.  Summary BNP Paribas will launch six Bitcoin and Ether ETNs for clients in France on Monday. Clients can access crypto price exposure through securities accounts without buying or storing Bitcoin directly. The launch extends BNP Paribas’ digital asset push after tokenized fund and blockchain bond activity. Meanwhile, the move gives clients access to Bitcoin and Ether through regulated market products without requiring direct crypto custody. The launch also adds to the bank’s wider blockchain and tokenization activity across Europe. BNP Paribas…

Kalshi is facing a new legal challenge after Washington state sued the prediction market operator over its event-based contracts.  Summary Washington sued Kalshi, alleging its contracts broke gambling and consumer protection laws in the state. Kalshi moved the Washington case to federal court and said the state gave no warning. Nevada and Arizona also challenged Kalshi as pressure on prediction markets grew across several states. The case adds to a growing list of state actions against the company as regulators question whether its products amount to unlicensed gambling. Washington Attorney General Nick Brown filed the complaint on Friday, alleging that…

Onchain commodity trading is drawing more attention as traders look for round-the-clock access to oil, gold, and index products.  Summary Hyperliquid recorded $5.4 billion in macro perpetual volume as silver, oil, gold and indices led. Weekend access kept onchain markets open while traditional commodity venues stayed closed to active traders. Thin liquidity and wider spreads still keep onchain commodity trading below institutional size and execution. Recent volume data shows that demand is rising, but limited liquidity still keeps traditional markets ahead in scale and execution. Hyperliquid’s HIP-3 market reached a new record on March 23. The platform posted about $5.4…

Bitcoin held above $66,000 through most of the weekend, even as some traders expected sharper moves.  Summary Bitcoin stayed above $66,000 for 36 hours after rebounding from Friday’s four-week low near $65,500. Major altcoins showed limited movement, while Bitcoin dominance slipped to 56% and market cap stalled. SIREN surged 13% to $1.80, while PI rebounded above $0.18 after recent weakness. The steady action followed a volatile week that pushed the asset from near $72,000 to a four-week low before it recovered. Most large-cap altcoins tracked Bitcoin’s calmer pace. Ethereum, XRP, Solana, and BNB posted only small moves, while a few…

Bitcoin margin long positions on Bitfinex have climbed to levels not seen since November 2023, drawing fresh market attention during a period of weak price action.  Summary Bitfinex margin long positions climbed to 79,193 BTC, the platform’s highest level since November 2023. Adam Back said buyers may use TWAP strategies to accumulate Bitcoin below $69,000 during pullbacks. Back estimated leveraged accumulation now exceeds 300 BTC daily, or about $20 million each day. The move has added a new data point to the wider debate over whether large buyers are building exposure during the current correction. Recent market data shows Bitfinex…

Crypto markets closed the weekend with activity spread across derivatives, token sales, regulation and ETF flows.  Summary Hyperliquid’s HIP-3 market hit $5.4 billion in commodity and macro futures volume on March 23. World Assets sold 239 million WLD for $65 million as WLD traded near record lows. US spot Bitcoin ETFs posted $296.18 million in weekly outflows, ending a four-week inflow streak. Onchain commodity trading kept growing, World Foundation disclosed a new WLD sale, Washington sued Kalshi, and spot Bitcoin ETFs ended the week with net outflows. Onchain commodity trading stayed in focus after Hyperliquid’s HIP-3 market posted a new…

World Foundation disclosed that its token issuance unit, World Assets, completed $65 million in over-the-counter sales of WLD tokens.  Summary World Assets sold 239 million WLD tokens for $65 million at about $0.2719 per token. WLD traded near $0.27 after hitting a record low of $0.2444 earlier during Saturday session. A July 2026 unlock will cover 52.5% of supply, equal to 169% of float currently. The update came as WLD traded near its recent low and as the market watched future token supply. World Assets said it sold WLD tokens to four counterparties over the past week. The first settlement…