Aave Labs subsidiaries Push Labs Limited and Push Virtual Assets Limited have received approval from the UK Financial Conduct Authority to operate as registered cryptoasset exchange providers in the country. According to an announcement shared with crypto.
US commercial and industrial lending reached $2.89 trillion at commercial banks for the week ending May 13, up roughly $183 billion year-to-date and 8.19% above year-ago levels.
This partnership enhances capital efficiency, allowing users to maintain yield while spending, but increases self-custodial security risks. MetaMask partners with Aave to let users spend yield-bearing assets at Mastercard locations.
Large USDC transfer sparks speculation on whether funds are being deployed or parked ahead of market moves.
TL,DR: Multi-billion dollar liquidity loss: The Aave lending protocol recorded a decline of over $11.6 billion in its Total Value Locked (TVL) following a cyberattack on the Kelp DAO bridge.
Aave strengthened recovery defenses as governance worked to contain lingering risks across interconnected DeFi lending markets.
Since the $292 million KelpDAO incident, decentralized finance has endured a brutal stretch, with fallout spreading well beyond the initial exploit.
Multicoin Capital has moved all 286,057 of its remaining aave tokens, worth approximately $26.68 million, into Coinbase Prime, the clearest signal yet that the fund is exiting a position sitting on over $40 million in losses.
Multicoin received 338,005 AAVE from a Galaxy Digital OTC wallet at about $218 average, for an estimated $73.7 million outlay. With AAVE near $97, the position is worth about $32.8 million, leaving more than $40 million in unrealized losses.
AAVE faced renewed pressure after Multicoin transferred massive holdings while traders reduced exposure.
Onchain data shows Multicoin Capital is now more than $40 million underwater on a large AAVE position built through Galaxy Digital's over-the-counter (OTC) desk. The firm now appears to be selling. A $73.
Aave seeks to unfreeze the $71 million in ETH frozen by Arbitrum following the $293 million hack suffered by KelpDAO. A New York judge requested supplemental briefs because the protocol failed to clearly explain how compound losses would occur.