Stablecoin Card Spending Growing 100% Year Over Year Stablecoin card spending is growing 100% year over year, according to a Rain executive. Stablecoin settlement enables weekend and holiday processing, reducing trapped capital by over 40% and improving card economics.
ECB’s Lagarde Warns Euro Stablecoins Pose Financial Stability Risk ECB President Christine Lagarde warned that euro-denominated stablecoins pose risks to financial stability and monetary policy, advocating for a digital euro over private stablecoins. Her stance diverges from that of the Bundesbank.
Arbitrum DAO Approves $70M ETH Release for Kelp DAO Recovery Arbitrum DAO has voted to approve the release of approximately $70 million in ETH to recover funds related to the Kelp DAO incident. However, a May 1 court order restricted Arbitrum DAO from moving the recovered funds, prompting Aave to file an emergency application to lift the restrictions. This marks an increasingly complex interaction between decentralized governance and the judicial system. The Arbitrum community had previously voted to recover funds transferred due to a Kelp DAO bridge vulnerability, but legal uncertainty has stalled the transfer process. ...
[Brief] AI Agents Could Solve Crypto’s User Adoption Problem Analysis suggests autonomous AI agents could drive the next wave of crypto adoption by simplifying wallet management and transaction flows, lowering the barrier to entry that has long hindered the industry.
[Brief] Aptos Commits $50M to Ecosystem Growth With AI Agent Focus Aptos announced $50 million in ecosystem funding with a focus on AI agent integration, signaling accelerating convergence between public blockchains and AI.
[Brief] Bitcoin Slips to $79,000 as Negative Funding Rates Hit Decade Low Bitcoin dropped to $79,000 with DOGE leading losses among major cryptocurrencies. Negative funding rates on futures contracts hit a 10-year record, reflecting heavy bearish sentiment in the market.
[Brief] Solv Protocol Switches to Chainlink for $700M Tokenized Bitcoin Solv Protocol is migrating from LayerZero to Chainlink infrastructure to secure $700 million in tokenized Bitcoin holdings, marking one of the most significant DeFi infrastructure switches recently.
Jack Dorsey’s Block raised full-year guidance after recording $173 million in Q1 bitcoin revenue. Source: The Block
Coinbase reported a nearly $400 million loss in Q1, with the CEO seeking to reduce dependence on crypto market volatility. Stock fell 5%. Source: The Block / CoinDesk
JPMorgan reported that bitcoin is gaining over gold as a debasement trade following the Iran conflict, with institutional funds continuing to flow into BTC ETFs. Source: The Block