Aave launches binding Arbitrum vote to move $71 million in disputed ETH

DeFi lender Aave and other stakeholders impacted by last months Kelp DAO hack have launched a binding Arbitrum governance vote to transfer $71 million in disputed ether into an Aave LLC-controlled address  A Constitutional Arbitrum Improvement Proposal, or AIP, is the DAO‘s formal on-chain governance mechanism for approving binding protocol actions. This amended proposal implements Judge Margaret Garnett’s recent court order, which authorizes an on-chain Arbitrum DAO vote to transfer the frozen ETH from its current immobilized address to a wallet controlled by Aave LLC, provided that the restraining notice sought by North Korean terrorism judgment creditors is respected.  If approved, the proposal would move 30,765 ETH from the wallet where Arbitrum‘s Security Council immobilized the funds to an Aave LLC-controlled address, as required by the court’s order. However, the assets would remain subject to strict legal restrictions and cannot be freely used, transferred, or deployed by Aave LLC unless permitted by the court.  The legal fight over the frozen assets took an unusual turn after blockchain forensics firms widely attributed the exploit to North Koreas Lazarus Group. That attribution comes from blockchain analytics firms and external forensic research, and has not been established as a legal finding within either the Arbitrum governance

05-12

Crypto Market News Today: BTC, ETH Consolidates, While H & B Prices Lead the Markets

The post Crypto Market News Today: BTC, ETH Consolidates, While H & B Prices Lead the Markets appeared first on Coinpedia Fintech News  Crypto markets have remained largely range-bound over the past 24 hours, with Bitcoin and Ethereum consolidating near key levels. The global crypto market capitalization continues to hover around $2.7 trillion, while trading volume has slipped below $85 billion, signaling reduced market participation. Meanwhile, neutral market sentiment suggests traders remain in a wait-and-watch mode, often a precursor to a major price move.  Crypto Markets in the Past 24 HoursBTC price remains stuck at around $81,230 with a negligible rise of 0.54%, while Ethereum price trades at $2,311 with a drop of 1%XRP sustains above $1.46 with over 0.62% jump, Solana price above $96.63, Tron at $0.34, Hyperliquid at $41.25, while Dogecoin holds above $0.11The top gainers for the day are BUILDon (B) and Humanity (H), which surged by more than 59.5% and 26%, respectively.The top losers for the day are Zcash and Jupiter, which plunged over 4% each, followed by Sky & Pump.fun with over 3% drop eachThe total liquidation is around $233.99M, which includes $124.47M long and $109.61M in shortsThe Bitcoin open interest has risen to $60B, while the

05-12

Galaxy Digital Partners With Sharplink for $125M Ethereum Yield Strategy Fund

A new $125M investment vehicle focused on generating returns from Ethereum through DeFi protocols is being launched by Galaxy Digital and Sharplink.The capital structure includes $100M in staked ETH from Sharplink and a $25M commitment from Galaxy, which will oversee fund operations.Sharplink disclosed a first-quarter 2026 net loss totaling $685.6M, primarily attributed to unrealized depreciation of its Ethereum portfolio.Ethereums price declined from approximately $3,354 in mid-January to $2,104 by quarter-end in March, with a modest rebound to $2,339 subsequently.Galaxy Digital shares have surged 118.5% year-over-year, with Compass Point analysts increasing their target price to $41.  Galaxy Digital and Sharplink have entered into a collaborative agreement to establish an investment fund designed to generate yield from Ethereum assets through decentralized finance mechanisms, despite Sharplink experiencing substantial quarterly losses linked to cryptocurrency market downturns.  Sharplink and Galaxy Digital just launched a $125M on-chain yield fund backed by Sharplinks staked $ETH treasury.  This comes the same day Sharplink reported a $686M Q1 loss, nearly all of it from unrealized ETH losses. pic.twitter.com/hPbWQBjAXr  — Token Metrics (@tokenmetricsinc) May 11, 2026  The partnership involves a non-binding agreement to create the Galaxy Sharplink Onchain Yield Fund, anticipated to commence operations within the next several weeks with $125 million in committed capital.

05-12

Whales Just Bet $832 Million on the Ethereum Price Dip, Here’s Why

Ethereum (ETH) price has lost 3.6% since May 10, dipping significantly inside a falling channel that has held since April 17. Whales used the dip to load up on $832 million in ETH.  Derivatives positioning shows the rally that preceded the breakdown was short-covering, not new longs piling in. That hands whales a low-leverage entry. The catch sits with long-term hodlers, who have cut accumulation by nearly 80% since late April.  Whales Bought $832 Million as the Price Slid  The Ethereum whale supply, excluding exchanges, tells a story the price chart misses. Whale wallets have steadily added ETH through the recent breakdown. The metric climbed from 124.69 million ETH to roughly 125.05 million across the period, an increase of 360,000 ETH.  At an current ETH price, those 360,000 tokens carry a market value of about $832 million.  ETH Whale Supply: Santiment  The timing matters. The breakdown that started May 10 took ETH down 3.6% in two days. Whales added to their positions through that dip rather than reducing exposure. This kind of behavior usually signals confidence that the charts bearish pattern will not resolve to the downside. Whales rarely accumulate into a setup they expect to break lower.  Price Drop: TradingView  The bigger question is why they are

05-12

Circle makes USDC push into AI agent payment tools

Circle launched a suite of tools designed to let AI agents hold wallets, discover services and make programmable payments using $USDC, as companies race to build financial infrastructure for autonomous software systems.  The products, released under Circles new “Agent Stack,” include agent-focused wallets, a command-line developer interface, a marketplace for agentic services and a nanopayments protocol for machine-to-machine transactions.  Circle said the nanopayments infrastructure supports gas-free $USDC ($USDC) transfers as small as $0.000001 and is designed for high-frequency autonomous payment flows between software systems.  The company said the tools are built to allow AI agents to transact autonomously within predefined permissions, spending controls and policy guardrails across supported blockchains and payment networks.  The rollout also includes Circle CLI, a command interface for developers and AI agents building applications on Circles platform, and Agent Wallets, which the company said are designed for agents to hold, send and manage funds independently.  Circle is the issuer of the $USDC stablecoin, the second-largest stablecoin by market capitalization with roughly $78 billion in circulation, according to DeFiLlama data. Shares of Circle (CRCL) were up around 18% in midday trading and more than 51% over the past month.  Source: Yahoo Finance  Source: Yahoo Finance  Stablecoins emerge as payment rails for AI agents  Circles launch comes

05-12

Will the CLARITY Act Pass This Thursday? What We Know So Far

Eleanor Terrett said the CLARITY Act heads to the Senate Banking markup on Thursday.Democratic support remains uncertain, with ethics concerns tied to Trump family crypto holdings.Polymarket traders now give the CLARITY Act a 73% chance of becoming law in 2026.  The CLARITY Act faces its next major test this Thursday as the Senate Banking Committee prepares to mark up the crypto market structure bill. Eleanor Terrett said last-minute preparations and objections are underway, with one question still hanging over the vote: “Will Democrats support it?”  The bill can move out of committee with Republican support, but its path through the full Senate needs the Democrats support. That makes the current fight less about whether Thursdays markup can happen and more about whether ethics concerns tied to Trump family crypto holdings weaken bipartisan support before the floor stage.  CLARITY Act Heads to Markup  The Senate Banking Committee is scheduled to meet in executive session on May 14 to consider H.R.3633, the Digital Asset Market Clarity Act of 2025. The committee notice confirms that the bill is formally on the agenda for Thursday.  Terrett said Senate Banking Chairman Tim Scott scheduled the markup for 10:30 a.m. ET. She also reported that the final legislative text was expected

05-12

MoonPay Acquires Dawn Labs and Launches Dawn CLI AI Tool for $22 Billion Prediction Markets Push

Payments firm MoonPay has acquired AI startup Dawn Labs for an undisclosed sum and immediately rolled out Dawn CLI, an AI-driven trading tool aimed at users of prediction market platforms such as Polymarket and Kalshi. The new product is designed to translate plain-English instructions into custom trading strategies, automating workflows that active traders currently stitch together from social media signals and cross-platform positions. Dawn Labs founder Neeraj Prasad framed the launch as a push to democratize sophisticated event-contract trading. MoonPay said prediction markets have become one of the fastest-growing retail categories, and Dawn CLI is positioned to simplify execution across what remains a fragmented venue landscape.  Bank of England Governor Andrew Bailey signaled what he called a coming wrestle with Washington over global stablecoin oversight, warning that dollar-denominated tokens could surge into the United Kingdom during a market panic. Bailey argued the GENIUS Act lets issuers redeem holdings indirectly through crypto exchanges, while the UK regime demands strict 1:1 redemption rights with the issuer. He told a London financial-stability conference that international standards are essential if stablecoins are to anchor global payments. Bailey, who also chairs the Financial Stability Board, has previously cautioned that dollar-pegged tokens risk eroding monetary sovereignty and

05-12

XRP Ledger Foundation Names Ripples David Schwartz Honorary Board Member

The Ledger Foundation announced on X on May 11 that Ripple CTO Emeritus David Schwartz joined the organization as an honorary board member. Schwartz helped design the Ledger and will support the Foundations technical stewardship efforts as the organization expands its operational and engineering leadership team.  A separate announcement published by the Foundation on X on May 8 introduced its broader leadership structure. Brett Mollin was named executive director, Denis Angell chief technology officer, Rene Huijsen director of operations, and Hussein “Vet” Zangana director of community. Mollin sets strategy with the board, while Angell leads engineering work tied to amendments, standards, and production contributions.  The Foundation stated:  “As one of the original architects of the Ledger, David brings deep technical insight and a long-term perspective that will help strengthen the Foundations technical stewardship of the ecosystem.”  Schwartzs honorary board position adds a technical advisory role alongside the team handling daily Foundation work. Huijsen manages financial coordination and operations after earlier payment operations work at Ripple and participation in a Bank for International Settlements cross-border payments taskforce.  Leader Team Structure Shows Engineering and Community Focus  Community responsibilities now sit with Zangana, whose work covers communications, validator and developer engagement, ecosystem storytelling, events, and content. His previous XRP

05-12

Whitehat Returns $190K to Renegade After Hacking Them

The white hat hacker sent more than 90% of the stolen funds back within 45 minutes and said in response to the onchain message that the action was taken to protect DeFi users:  “I‘ve seen a lot of contempt toward my actions. Although I understand that what I did was not ethical, in the current DeFi cybersecurity, I believe this was the best solution to protect users’ funds and ensure their safety.”  The white hat hacker also hinted that Renegade should tighten up its security measures, stating that the vulnerability exploited was “tooooo simple and bad.”  North Korean state-backed hackers “would never come to negotiate,” they added.  Renegade said the exploit appeared to have resulted from the deployment code failing to assign an explicit owner and from a faulty migration in an April 2025 software update, enabling anyone to rewrite the smart contract tied to its V1 Arbitrum dark pool.  Dark pools are private trading platforms that allow large trades to occur without exposing their intentions to, or impacting, the broader market.  Renegade added that it would publish a post-mortem with a “full root-cause analysis” explaining the security incident.  Renegade said it would fully compensate affected users, and that only 7% of its trading volume was channeled

05-12

ETH Price Prediction: $3,500 Target or $2,200 Support Test in January

Market Context: ETH at Critical Crossroads  Ethereum holds steady at $2,330 with minimal movement over the past 24 hours, but this apparent calm masks building pressure beneath the surface. Trading volume exceeds $1 billion on major exchanges, indicating strong institutional interest despite the lack of clear direction.  The current price level represents more than just another support zone. ETH sits at a technical crossroads where previous rallies have either accelerated higher or reversed sharply lower. Blockchain.news coverage highlights how similar consolidation phases have preceded ETHs most significant moves in recent months.  Hourly candlesticks (about 96 bars), same endpoint as our cryptocurrency price pages. Numbers below refresh from 1-minute klines.  Full ETH price, calculator & analysis  Market participants appear to be waiting for a catalyst. The sideways action suggests both buyers and sellers are testing each others conviction at these levels before committing to larger positions.  Technical Picture Shows Indecision  Multiple timeframes paint a picture of uncertainty. The RSI hovers near neutral territory at 52.95, showing neither bullish nor bearish momentum dominance. The MACD histogram sits essentially flat, confirming the lack of directional momentum thats characterized recent trading.  More telling is ETHs relationship with key moving averages. Price action remains below the 200-day SMA at $2,656, creating a bearish

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