TLDR

• MARA Holdings launched a new foundation to strengthen the Bitcoin network resilience.
• CEO Fred Thiel announced the initiative at the Bitcoin Conference in Las Vegas.
• The foundation will focus on addressing quantum computing risks to Bitcoin.
• MARA aims to support a sustainable transaction fee market for long-term security.
• The initiative will fund open source development across scaling and mining tools.

MARA Holdings introduced a new foundation in Las Vegas to strengthen bitcoin’s long-term resilience. CEO Fred Thiel announced the plan during the Bitcoin Conference on Monday. He said the effort will address quantum risks and reinforce the network’s economic model.

MARA Targets Bitcoin Security and Quantum Preparedness

Thiel said Bitcoin remains the most important decentralized system in operation today. However, he warned that the network’s future depends on active stewardship. He stated, “Bitcoin is the most important decentralized system ever created, but its future is not guaranteed.”

He described Bitcoin as a public utility that no single entity controls. Yet he stressed that participants must share responsibility for its survival. He added, “Decentralization doesn’t mean it runs on itself; it means responsibility is distributed.”

The MARA Foundation will focus on protecting Bitcoin’s core properties as sound and durable money. It will support research on emerging threats, including quantum computing. The foundation will also study ways to sustain the network’s security budget.

Thiel said transaction fees must eventually replace declining block rewards. Therefore, the foundation will encourage the development of a sustainable fee market. It will also examine technical measures that strengthen network defense.

MARA Expands Open Source Support and Global Access

MARA confirmed it will fund open source developers working on scaling and mining tools. The company will also back improvements to the user infrastructure. These steps aim to increase network reliability and efficiency.

The foundation will promote self-custody solutions across different regions. It plans to expand multilingual resources for global users. It will also provide technical education programs for developers and operators.

Policy engagement will form another part of the initiative. MARA intends to work with regulators through structured outreach. The company said it will provide educational materials to support informed discussions.

As part of the launch, MARA pledged $100,000 to one nonprofit organization. Three groups will compete for the award through a community vote. The company said this process reflects its commitment to shared ecosystem responsibility.

Thiel reiterated that distributed systems require collective effort. He framed the foundation as a long-term commitment beyond mining operations. He confirmed the initiative will operate independently from MARA’s bitcoin and AI mining units.

The announcement took place during a keynote address at the Bitcoin Conference. MARA did not disclose a fixed annual budget for the foundation. The company confirmed the $100,000 grant marks the first public allocation.

MARA stated that further funding details will follow in later updates. The foundation will begin operations immediately after the conference. Community voting for the nonprofit award will open in the coming weeks.

Stablecoins have “quietly become core financial plumbing” and pushed on‑chain finance past a “point of no return,” according to a new a16z crypto framework that recasts programmable dollars as the base layer for a multi‑chain, banking‑as‑a‑service stack and a coming wave of on‑chain credit.

Stablecoins have quietly become core financial plumbing and pushed on-chain finance past the “point of no return,” according to a new framework report from a16z crypto. Titled “The New Stack of Global Finance: The Stablecoin Edition,” the analysis argues that what started as a niche trading tool has morphed into a global settlement layer and a new kind of “banking as a service” stack that is already reshaping how money moves.

In the report, a16z crypto writes that stablecoins have evolved into “fundamental financial pipelines,” with programmable dollars now embedded in consumer apps, fintech platforms, and institutional workflows. The firm describes a new BaaS model in which on-chain issuers and infrastructure providers offer “instant, API‑native balance sheet services” that sit beneath wallets, exchanges, neobanks, and even traditional institutions.

“The transition to on-chain finance has crossed the point of no return,” the authors conclude, arguing that even if prices correct, the underlying rails will continue to scale in volume and sophistication.

The report slices today’s blockchain landscape into three core categories: general-purpose chains like Ethereum, Solana, and layer‑2 networks; payment‑specific chains such as Stripe’s Tempo; and institutional networks like Canton, which target regulated participants and permissioned workflows.

Each category, a16z says, is increasingly tethered together by stablecoins that act as the common settlement asset, whether the end user is a retail gamer or a global bank.

On the banking side, a16z pushes back on the idea that regulatory bottlenecks are still insurmountable. “The bottlenecks in the banking industry are easing,” the report notes, pointing to a growing roster of crypto‑friendly banks actively wiring on‑chain infrastructure into fiat payment systems.

At the same time, the competitive frontier for issuers has shifted from raw market share to regulatory positioning, with leading stablecoin firms “vying to obtain OCC national trust charters” and other licenses that would anchor them more firmly inside the U.S. banking perimeter.

Crucially, the paper frames payments as only “the first act.” The more important “second act,” in a16z’s view, will be credit.

“The large‑scale issuance of stablecoins will give rise to a new on‑chain credit market, allowing capital to form outside the traditional banking system,” the report says, predicting that on‑chain collateral, reputation systems, and programmable covenants will underpin a parallel credit stack layered on top of stablecoin rails.

Finally, the authors stress that this is not just a crypto story, but a geopolitical one.
Stablecoins, they argue, “enhance the dominance of the dollar” by exporting dollar access into any app or wallet with an internet connection, while simultaneously giving emerging‑market users a more direct, censorship‑resistant channel into the U.S. currency than their domestic banking systems typically provide.

TLDR

• DeFi United has raised more than 132,000 ETH, valued at over $300 million, to address losses from the Kelp DAO exploit.
• Consensys and Ethereum co-founder Joseph Lubin pledged 30,000 ETH to support the coordinated recovery effort.
• Circle Ventures confirmed it is purchasing AAVE tokens to help stabilize the protocol after the exploit.
• The exploit involved unbacked rsETH minted through a compromised LayerZero bridge and used as collateral on Aave.
• Aave service providers proposed allocating 25,000 ETH from the DAO treasury to support the recovery plan.

DeFi United has secured more than 132,000 ETH valued at over $300 million to address losses from the Kelp DAO exploit. Consensys and Ethereum co-founder Joseph Lubin pledged 30,000 ETH to support the recovery. Circle Ventures also confirmed AAVE token purchases to reduce pressure on the lending protocol.

DeFi Coalition Accelerates Funding Drive

Circle Ventures announced it is buying AAVE tokens to support market stability. The firm stated, “Strong DeFi infrastructure does not build itself.” It added that Aave helps shape onchain finance and supports its broader community.

At the same time, Consensys and Joseph Lubin committed 30,000 ETH to the coordinated recovery plan. Aave confirmed the pledge on Monday and credited the contribution for accelerating progress. It said, “The recovery would not be progressing as it is without them.”

Consensys-backed treasury firm Sharplink will also provide strategic advice to the initiative. The combined effort has now raised more than 132,000 ETH. That amount equals over $300 million at current market prices.

Aave and Partners Target rsETH Shortfall

The exploit occurred after an attacker minted unbacked rsETH through a compromised LayerZero bridge. The attacker then used the tokens as collateral on Aave to borrow assets. This sequence left Aave with bad debt tied to the unbacked rsETH.

DeFi United directs contributions to close the remaining shortfall linked to rsETH. Last week, Aave service providers proposed allocating 25,000 ETH from the protocol’s DAO. That allocation equals nearly $58 million based on recent prices.

As of Monday, the broader effort had raised roughly $235 million worth of Ethereum before the latest pledges. Lido DAO proposed contributing up to 2,500 ETH to the plan. Ether.fi also proposed up to 5,000 ETH to support the recovery.

Kelp DAO pledged 2,000 ETH to help restore rsETH backing. Dozens of individuals have also transferred smaller amounts of ETH and stablecoins. X user DCF GOD estimated that the funding gap had already been filled if all proposals passed.

Data from The Block shows total value locked across DeFi protocols stands at nearly $82 billion. That figure reflects a decline of over 25% from $110 billion at the start of the year.

Bitcoin failed at the $80,000 level for the third time this month on Monday, briefly tagging $79,500 before reversing sharply, as a renewed move higher in oil prices amid stalling U.S.-Iran peace talks pushed risk assets into the red ahead of this week’s FOMC decision.

BTC last changed hands at around $76,800 per CoinGecko, down 1.8% over the past 24 hours but still up 1.2% on the week. Ether (ETH) led losses among the majors, falling 3.3% to $2,287. Meanwhile, SOL traded near $84, down 3%, XRP at $1.39, down 2.8%, and BNB at $623, down 2%.

Total crypto liquidations reached $435 million over the past 24 hours, according to CoinGlass, with more than 108,000 traders liquidated.

Stalled Peace Talks

President Donald Trump on Sunday called off a planned Pakistan trip by two senior U.S. negotiators, stalling a fresh round of peace talks even as Iran reportedly sent Washington a new proposal over the weekend. The Strait of Hormuz remains under a U.S. naval blockade.

The risk-off backdrop is unfolding two days before the April 28-29 FOMC meeting. CME FedWatch puts the odds of a rate hold at 100%, with the federal funds rate expected to remain in the 3.50-3.75% range. April carries no fresh dot plot or Summary of Economic Projections, leaving Chair Jerome Powell’s tone the focal point for traders. The Bureau of Economic Analysis releases its advance Q1 GDP estimate on Thursday, with PCE and the Employment Cost Index expected the same morning.

ETFs

U.S. spot Bitcoin ETFs pulled in $823.7 million in net inflows during the week ending April 24, the fourth consecutive positive week, per SoSoValue. April month-to-date inflows now exceed $2.4 billion, nearly double March’s total. Total BTC ETF AUM stood at $102.64 billion as of Friday, with the products holding 1,322,094 BTC, or roughly 6.3% of the circulating supply.

Spot Ether ETFs added $155 million for the week, their third consecutive positive week, while spot Solana ETFs added $9.4 million and spot XRP ETFs added $15.7 million.

Elsewhere

Strategy disclosed its fourth consecutive weekly Bitcoin purchase, adding 3,273 BTC for $255 million at an average price of $77,906, with the latest fill now sitting roughly 1.4% above spot. Total holdings stand at 818,334 BTC, acquired for roughly $61.81 billion at an average cost basis of $75,537, with chairman Michael Saylor citing a 9.6% year-to-date BTC yield. The buy follows last week’s $2.54 billion accumulation of 34,164 BTC, the firm’s largest since 2024.

In DeFi, Aave founder Stani Kulechov said the DeFi United recovery fund has reached the level needed to fully re-collateralize rsETH following the April 18 KelpDAO bridge exploit, subject to pending governance votes. Consensys and Ethereum co-founder Joe Lubin committed up to 30,000 ETH, while the Solana Foundation said it would lend USDT on Aave for the first time.

Outlook

With oil at multi-week highs, and four mega-cap tech names (Microsoft, Alphabet, Meta, Amazon) reporting Wednesday evening after the FOMC decision, the path of least resistance for crypto this week runs through the macro tape rather than crypto-native catalysts.

Western Union (WU) is preparing to roll out a stablecoin strategy that could reshape how the 175-year-old money-transfer company settles payments across its global network.

CEO Devin McGranahan said on the company’s first-quarter earnings call that Western Union’s U.S. dollar stablecoin (USDPT) is in the final stages of readiness and is expected to launch next month. The firm announced in October that the digital dollar will run on Solana (SOL) and will be issued with federally chartered crypto bank Anchorage Digital.

Western Union plans to use the stablecoin first as an alternative to the interbank settlement rails it uses today to move money between the company and its agents.

“We are not originally launching [USDPT] as consumer-facing,” McGranahan said. “We are launching it as an alternative to the interbank SWIFT settlement network that we use today.”

That matters, he said, because Western Union’s business still depends on legacy banking systems that settle only on business days and can take two or three days in some markets. Stablecoins could allow the company to settle with partners in real time, including over weekends and holidays, while reducing capital tied up in the system, he added.

The second piece of the company’s strategy is the Digital Asset Network (DAN), which lets crypto wallet companies offer Western Union as a cash-out option. Through that network, wallet users will be able to convert digital assets into local currency through Western Union’s retail footprint, McGranahan said.

The company said its partner pipeline represents tens of millions of crypto wallets globally.

Western Union also plans to launch a Stable Card, expected later this year. It will let customers hold funds in stablecoins and spend through card networks. McGranahan said the card could be useful in inflation-sensitive markets where customers want access to U.S. dollar-denominated value with everyday spending utility.

“We expect to begin rolling this out across dozens of markets with an initial wave targeted for later this year,” he said.

Western Union’s stablecoin push comes as its core remittance business faces pressure, with rival fintechs and crypto payments firms increasingly using blockchain tech for cross-border payments. MoneyGram, for example, is looking to Circle’s USDC stablecoin, while Stripe launched its own stablecoin infrastructure with a payments-focused chain Tempo.

Read more: DoorDash is bringing stablecoin payments to masses with Stripe-backed blockchain

TLDR

• Solana Foundation confirmed that its core developer teams selected Falcon as a post-quantum digital signature solution.
• Anza and Jump Crypto’s Firedancer independently agreed on adopting Falcon for future network protection.
• Solana developers have already started building and testing early versions of Falcon implementations.
• The foundation stated that current quantum computing risks remain distant, but migration plans are ready.
• Solana outlined a phased roadmap that includes research, wallet updates, and eventual network migration.

Solana Foundation detailed a plan to address future quantum computing risks and protect network security. The foundation confirmed that core developers aligned on a post-quantum signature standard. It said the threat remains distant, yet teams have prepared migration strategies.

Solana Aligns Core Teams on Falcon Quantum-Resistant Signatures

The Solana Foundation said its core teams selected Falcon as a post-quantum digital signature scheme. Anza and Jump Crypto’s Firedancer reached the same conclusion through independent technical reviews. The foundation stated that both teams have started building early Falcon implementations for testing.

The foundation said Solana developers examined performance tradeoffs before selecting Falcon for integration. The network’s high-speed design requires low latency and efficient cryptography. However, developers concluded that Falcon can operate within existing technical limits without harming throughput.

The foundation said it will continue research and testing before any protocol change. It added that developers understand migration steps and maintain readiness for deployment. “Quantum is still years away,” the foundation said in its blog update.

Roadmap Covers Wallet Migration and Ecosystem Tools

Solana outlined a phased roadmap for introducing post-quantum protections across the network. The plan includes research on Falcon and other cryptographic options. It also covers potential deployment for new wallets if quantum risks increase.

The foundation said developers could introduce post-quantum schemes for newly created wallets first. Later, teams would migrate existing wallets through planned updates. The foundation stated that such a transition would remain manageable under the current infrastructure.

The blog post also referenced ecosystem work that already supports quantum resistance. Blueshift launched its Winternitz Vault primitive on Solana more than two years ago. The foundation said Google Quantum AI recently cited this implementation in research materials.

The foundation explained that Winternitz Vault operates as a quantum-resistant primitive on chain. It allows users to store assets with alternative cryptographic safeguards. Developers have maintained the tool live on Solana without protocol disruption.

Solana developers stated that they will monitor advances in quantum computing research. They will adjust timelines based on scientific progress and industry benchmarks. The foundation emphasized that no immediate network changes are scheduled.

The foundation said internal testing of Falcon implementations will continue across both core teams. Anza and Firedancer engineers will refine performance benchmarks during development cycles. The foundation confirmed that deployment would follow clear governance processes.

• Pudgy Penguins (PENGU) price touched $0.010 amid double-digit gains.
• The token surged as the Pudgy Penguins floor price pumped.
• Other non-fungible tokens also soared, including the Bored Ape Yacht Club.

Pudgy Penguins’ native PENGU token is up double digits in the past 24 hours, riding high on skyrocketing floor prices to touch three-month highs.

This surge comes amid notable price increases in the Pudgy Penguins NFT, with other tokens related to the sector also experiencing significant gains.

However, an uptick for Bitcoin and Ethereum fizzled on Monday, a scenario that puts the tokens’ prices in danger of retreating amid profit-taking.

Pudgy Penguins soars 14% amid NFT price gains

Data shows top non-fungible token collections are experiencing a remarkable resurgence, with floor prices extending their upside momentum.

Pudgy Penguins currently leads the charge as its floor price climbs above 5 ETH, with over 20% in weekly gains.

Market data highlights this momentum, with over 20 sales and nearly 1,000 ETH in trading volume over the past seven days.

The Bored Ape Yacht Club (BAYC) NFT boosts similar metrics and shows an 81% spike in floor price over the last 30 days.

Yet, this optimism contrasts with contracting overall NFT market participation.

Global sales, transactions, and active users have nearly halved since February, even as average sale prices have more than doubled.

This divergence suggests a concentration of capital among high-value collections like Pudgy Penguins, potentially signaling selective bullishness rather than broad recovery.

Notably, PENGU price is up 40% over the past week, and the 14% gain in the last 24 hours has pushed it to above $0.010 for the first time since late January.

Pudgy Penguins is in double digits up year-to-date.

​Pudgy Penguins price analysis

Analysts attribute the NFT rally primarily to surging cryptocurrency prices, with Bitcoin (BTC) recently touching $80,000 and Ethereum (ETH) reaching $2,400.

The broader market sentiment looks to have amplified demand for top-tier NFTs, where Pudgy Penguins has stood out with elevated transaction counts accompanying its price climb.

In the market, surging floor prices typically reflect strong conviction, and the opposite shows amid declining floor prices.

PENGU gains mirror Pudgy Penguins’ NFT momentum, and the upmove lifts bulls above the $0.008 supply zone.

The surge to above $0.010 makes the 100-day and 50-day moving averages key support levels at $0.0082 and $0.007.

Among technical indicators to note is the Relative Strength Index (RSI) that currently hovers above 70, signalling overbought conditions.

Traders may need to watch out for NFT market fatigue or a significant BTC pullback.

If this happens, PENGU price could test lower support levels, including Feb 6 low of $0.0052.

On the flipside, the moving averages hint at a potential golden cross, with price likely to extend towards the YTD peak around $0.014.