Aave-linked DeFi United unveils rsETH recovery plan after $293M Kelp exploit
DeFi United launched a technical recovery plan following the $293 million Kelp exploit on April 18, which released 116,500 rsETH without corresponding burn on Unichain. The plan converts committed ETH into rsETH, restores bridge backing, and liquidates attacker positions across Aave and Compound. Over $302 million in commitments secured, pending governance approvals and DAO votes for execution.
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A crypto coalition releases technical proposal to save Aave users from a massive token exploit
DeFi United proposes a coordinated recovery plan for the Kelp DAO hack, which created 116,500 unbacked rsETH tokens worth $300 million. The coalition plans to restore rsETH backing with committed ETH and systematically unwind bad loans on Aave and Compound. Success requires governance approvals but could stabilize lending markets and recover approximately 13,000 ETH from Aave positions.
CFTC sues Wisconsin in agency's legal campaign defending prediction markets authority
The CFTC sued Wisconsin over prediction market regulation, escalating its legal campaign against states claiming gambling jurisdiction. Wisconsin had days earlier sued Kalshi, Polymarket, and Coinbase. CFTC Chair Mike Selig asserts exclusive federal authority over event contracts as derivatives, not state gambling. Multiple states including New York and Arizona are challenging this stance, creating regulatory uncertainty for platforms operating in U.S. markets.
World Cup fever: Chiliz expands to Solana and Base to supercharge fan token trading
Chiliz expands its 70+ fan tokens to Solana and Base blockchains, ditching its proprietary layer-1 for omnichain distribution. Using unified token standards eliminates liquidity fragmentation across chains. The move targets trading volume growth ahead of FIFA World Cup 2026, with Argentina and Portugal national team tokens already live. Coinbase's Base network integration broadens accessibility for sports fans globally.