Aave users can start supplying and borrowing Ripple’s RLUSD stablecoin on the decentralized lending platform's V3 Ethereum Core market, Aave said in a Monday post on X. The peer-to-peer loans market has a supply cap of 50 million RLUSD and a borrow cap of 5 million RLUSD. RLUSD is a stablecoin pegged 1:1 to the U.S. dollar offered on the XRP Ledger and Ethereum blockchain. It is fully backed by U.S. dollar deposits, short-term U.S. Treasuries, and cash equivalents with each token matched by equivalent fiat value. Security features make...

Bithumb plans to split its core crypto exchange business from other activities as it reorganizes in preparation for an initial public offering (IPO). The Seoul-based company will split in two, with Bithumb Korea focusing solely on operating the core crypto exchange business. Bithumb Korea will be the entity seeking a public listing, local media reported, citing the country’s corporate registry. The other unit, a newly created company called Bithumb A, will oversee venture investments, asset management and new business initiatives. The restructuring is set to take effect on July 31....

Mantra, the real-world asset tokenization platform whose OM token crashed earlier this month, is pushing to burn as much as 16.5% of its total supply valued about $160 million to boost staking rewards after talks with key partners. The proposal to burn as many as 300 million of its 1.8 billion tokens will drop the bonded ratio from 31.47% to 25.30%. It includes a confirmed tranche of 150 million OM, or about $80 million, belonging to founder John Patrick Mullin and an additional set of tokens owned by “ecosystem partners.”...

WazirX, the crypto exchange hit hard by a $234.9 million hack last year, says it’s gearing up to restart operations and begin creditor payments after a key Singapore court hearing on May 13. The exchange’s Singapore-based parent company, Zettai, has wrapped up all prep work for the hearing, where the court will decide on approving WazirX’s restructuring and user compensation plan. “While we’ve worked to stay aligned with the previously shared timelines, court proceedings operate independently, and we respect that process. After the Scheme is sanctioned, the First Distribution and...

In a surprising development, options linked to bitcoin (BTC) and the euro-dollar (EUR/USD) exchange rate are indicating strength against the U.S. dollar despite a downturn in the U.S. stock market. This trend suggests the "sell America" trade is gathering pace. Currently, bitcoin's short- and near-dated risk reversals – which measure the demand for call options relative to put options – were slightly positive, indicating a bullish bias. The data, drawn from sources like Deribit and Amberdata, signals a recovery from the previous trend where there was a consistent preference for...

Mike Novogratz's Galaxy Digital has apparently swapped $100 million worth of ether (ETH) for solana's SOL. According to Wu Blockchain, on-chain data suggests that Galaxy has swapped out a considerable amount of its ETH holdings for SOL. Over the last two weeks, Galaxy has transferred 65,600 ETH – or about $105 million – to Binance and has withdrawn 752,240 SOL (approximately $98.37 million). Galaxy may have made the move because ETH continues to be in "structural decline" according to a recent note from Standard Chartered, which slashed its year-end target...

Bitcoin is the crypto sector's top asset and is also universally defined by U.S. regulators and courts as a commodity, putting it under the jurisdiction of the Commodity Futures Trading Commission. That agency is now seeking public comments on whether it should open the wider world of derivatives to around-the-clock trading, as already executed for bitcoin and other digital assets. Though the CFTC is expected to be established as a crypto market regulator in Congress' ongoing effort to establish industry rules, the agency's invitation for comments issued on Monday doesn't...

The AI revolution in trading should be a game-changer, but instead, it’s become a quick money grab. Everywhere you turn, yet another ChatGPT wrapper is being marketed as the next big thing for crypto traders. The promises? “AI-powered insights,” “next-gen trading signals,” “perfect agentic trading.” The reality? Overhyped, overpriced, and underperforming vaporware that doesn't scratch the surface of what’s truly needed. Saad Naja is a speaker at the AI Summit during Consensus 2025, Toronto, May 14-16. AI should be designed to augment the trader experience, not sideline it.

Upexi Inc. is raising $100 million as part of a pivot that will see the company start to accumulate the cryptocurrency Solana, according to a Monday statement. The company’s shares surged more than 300% in early trading. Upexi, which had a $3 million market capitalization as of the close of trading last week, announced it has entered into agreements with investors to buy about 43.9 million shares of its common stock, or pre-funded warrants, in a private placement at a price of $2.28 per share. The closing of the offering...