Running out of time on Clarity: State of Crypto
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Aave raises nearly 80% of the $200 million it needs to cover bad debt left by Kelp DAO exploit
Aave has raised $160 million of $200 million needed to cover bad debt from the Kelp DAO exploit, the year's largest DeFi breach. Mantle and Aave DAO contributed $127 million combined, while founder Stani Kulechov pledged $11.7 million personally. The DeFi United recovery effort aims to stabilize rsETH and restore market confidence after the $292 million security incident.
Why DeFi isn't dead despite massive exploits and $13 billion investor exodus
KelpDAO's $292 million exploit triggered a $13 billion TVL exodus from DeFi, but much was leveraged positions unwinding, not actual capital destruction. Aave saw $8.45 billion outflows as users fled. However, crypto has survived worse—Terra, Ronin, Wormhole combined caused billions in losses yet the sector recovered. Risk premiums will rise, but DeFi remains operational and resilient for Indian investors monitoring exposure.
Hong Kong targets 10,000 BTC in purchases for Asia’s first regulated Bitcoin capital pool
A Hong Kong-listed company wants to attract more than 10,000 BTC into a regulated asset management strategy, a target worth roughly $760 million at current prices. While the number itself is jaw-dropping, it's the strategy's structure that reveals the true scope of this plan. Hong Kong is trying to become a place where large pools […] The post Hong Kong targ...