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Fireblocks Launches Stablecoin Yield Product via Aave, Morpho

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Fireblocks Launches Stablecoin Yield Product via Aave, Morpho

The platform’s new Earn feature lets its thousands of institutional clients deposit their stablecoin to DeFi’s top lending protocols directly on Fireblocks.

Enterprise crypto infrastructure firm Fireblocks has launched an on-chain lending product, Earn, giving its institutional clients direct access to two of DeFi’s largest lending protocols, per a press release shared with The Defiant.

Via Earn, the firm’s more than 2,400 institutional clients will be able earn yield on their stablecoin holdings via Morpho and Aave, directly from the Fireblocks platform. The feature is available across all of Fireblocks’ infra solutions, including its digital asset treasury solution, in the case the corporate treasury holds stablecoins.

Existing Fireblocks customers need to apply to get early access to the feature, per the release.

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Aave is the dominant lending protocol in DeFi, with roughly $26.3 billion in total value locked (TVL) and around $18 billion in active loans. Aave commands about 50% of the DeFi lending market TVL, per DefiLlama data. Morpho is DeFi’s second-largest lending protocol by TVL, with approximately $7.6 billion in TVL, according to DefiLlama.

Fireblocks Earn will launch with a curated vault managed by Sentora, provided by Morpho. Both integrations operate within Fireblocks’ existing approval workflows, policy controls, and transaction signing infrastructure, the press release notes.

The product targets idle stablecoin balances sitting “between deployment cycles, settlement windows, and operational holds” across Fireblocks’ clients. The company says stablecoin transfer volume on its network totaled $6 trillion in 2025, a 300% increase year-over-year.

“For the first time, institutions can put those balances to work through onchain lending strategies curated by established institutional names, inside the same platform, under the same controls they already run,” said Fireblocks co-founder and CEO Michael Shaulov.

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The integration deepens a long-running relationship between Fireblocks and Aave, dating back to Aave Arc, a permissioned version of the DeFi protocol targetting institutions, launched in 2022. As The Defiant reported at the time, at launch, Fireblocks served as sole approved whitelister for Arc, in part tasked with compliantly onboarding institutional players to the platform.

Morpho, meanwhile, has been expanding institutional partnerships, with Apollo Global Management committing to acquiring up to 9% of its token supply in a February agreement. Also recently, the Ethereum Foundation deployed more deposits to Morpho vaults, totaling nearly $19 million as of last month.

This article was written with the assistance of AI workflows. All our stories are curated, edited and fact-checked by a human.

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Crypto World

US Midterm Election Mirrors 2024 with Crypto Moving into Ohio Races

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Cryptocurrencies, Politics, Funding, United States, Elections

Another political action committee (PAC) aligned with the cryptocurrency industry announced its endorsement for a candidate in Ohio’s Senate race, signaling a move that could mirror the 2024 US election.

In a Wednesday notice, Sentinel Action Fund, a group that claims to be the “only conservative Super PAC advancing pro-crypto candidates and supporting pro-crypto innovation,” said it would be supporting Republican Jon Husted in this year’s race to represent Ohio in the US Senate. 

Husted was appointed by Ohio Governor Mike DeWine in January 2025 to replace JD Vance, who was elected vice president alongside US President Donald Trump in his 2024 election win. He still faces a field of Republican candidates ahead of a May 5 primary in Ohio, where former Senator Sherrod Brown will also face off in the Democratic primary against Ron Kincaid.  

Sentinel Action Fund President Jessica Anderson specifically cited Brown as having “stood in the way of pro-innovation policies when it comes to digital assets” in the PAC’s endorsement of Husted. 

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Although filings with the Federal Election Commission (FEC) as of Tuesday showed no disbursements supporting Husted in 2026, the PAC and its sister organization, Right Vote, pledged to spend more than $8 million in the Buckeye state. The Sentinel Action Fund reported about $9 million raised from January 2025 through March 2026, including $750,000 in contributions from the digital asset advocacy organization Solana Policy Institute and $250,000 from crypto investment company Multicoin Capital.

Cryptocurrencies, Politics, Funding, United States, Elections
Total raised by Sentinel Action Fund Super PAC as of March 31. Source: FEC

The PAC’s move into the Ohio race could serve as a bellwether for how money from crypto-aligned interest groups will respond to the upcoming US elections. In 2024, crypto-backed PACs spent more than $40 million in the US State to support Republican Bernie Moreno’s run to unseat Brown, who had made many public statements criticizing crypto.

Related: Coinbase-backed crypto advocacy group unveils 2026 election plan

Despite having lost his seat, Brown announced in August that he would run again for Senate. Moreno’s seat won’t be up for grabs until 2030.

Ohio Senate race isn’t the only one in the state focused on crypto

Vivek Ramaswamy, a former Republican candidate for US President and one of the backers for Bitcoin (BTC) treasury company Strive, has also thrown his hat into Ohio’s gubernatorial race.

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Launching his campaign in February 2025 following his departure from Trump’s Department of Government Efficiency (DOGE), Ramaswamy supported efforts to create a strategic BTC reserve in Ohio.

However, many critics have pointed to the Republican candidate’s financial disclosures filed on April 6 as examples of conflicts of interest. 

Ramaswamy reported a 10% stake in Strive and could benefit from the value of the company’s Bitcoin holdings increasing in response to Ohio’s treasury investing in the cryptocurrency, which he would have significant influence over as governor. Strive reported holding about 13,768 Bitcoin as of Wednesday, worth more than $1 billion.

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Disclosure: A member of the immediate family of Staff Editor Robert Lakin has contributed to the campaigns of Ohio Democratic gubernatorial candidate Amy Acton and Ohio Democratic Senate candidate Sherrod Brown in amounts less than $200.

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