news -
#934 - DeFi United Secures Funds, Consensys Commits 30k ETH, Bitmine 5M ETH
DeFi United secures funds to restore rsETH backing. Consensys and Joseph Lubin commit 30,000 ETH. And Bitmine crosses 5 million ETH.
Quick Take
DeFi United secures sufficient funds.
Consensys commits 30,000 ETH.
Bitmine crosses 5m ETH in holdings.
Hayden buys back hayden.eth.
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DeFi United Secures Sufficient Funds To Restore rsETH Backing
Aave founder Stani Kulechov announced that the DeFi United initiative has secured sufficient funds to restore the full backing of rsETH following the April 18 LayerZero bridge exploit. Execution remains pending, subject to governance votes and the finalization of indicative agreements. Aave has also aligned with KelpDAO and LayerZero on the technical steps required to carry out the recovery plan. Over the weekend, Aave submitted a governance proposal to the Arbitrum DAO requesting the release of 30,765.67 ETH frozen by the Arbitrum Security Council. Read more →
Consensys And Joseph Lubin Commit 30,000 ETH To DeFi United
Consensys and Joseph Lubin committed up to 30,000 ETH in financial support toward the DeFi United rsETH recovery effort, with SharpLink joining in a strategic advisory capacity. The contribution is particularly significant given that the 30,765.67 ETH frozen by the Arbitrum Security Council will not be liquid until the governance process is completed. The Babylon Foundation is also depositing 3M USDT and Tron is depositing 20M USDT into Aave to assist with liquidity. Read more →
Bitmine Crosses 5 Million ETH Milestone
Bitmine Immersion Technologies crossed 5 million ETH in holdings, announcing a total of 5,078,386 ETH valued at approximately $12 billion at current prices. The milestone maintains Bitmine as the largest Ethereum treasury in the world and represents 4.21% of total ETH supply. Bitmine has a stated goal of acquiring 5% of all ETH in circulation. Of the 5.078 million ETH held, 3,701,589 ETH (~73%) is currently staked, generating annualized staking revenues of $264 million at a yield of 3.033%. Read more →
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