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There’s a Mexican standoff in Bitcoin’s Lightning Network

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There’s a Mexican standoff in Bitcoin’s Lightning Network

Everyone on a liquidity route in Bitcoin’s Lightning Network wants the same rebalance of funds to happen, but none of them wants to be the first person to pay.

The tenuous impasse is a classic Mexican standoff.

When this situation occurs, Lightning node operators can neither pay nor not pay first without harming themselves, so nobody moves, and nobody wins. It has been a recurring problem for years.

After almost a decade of tools and research chasing this problem, the network’s routing nodes remain locked in a standoff that quietly erodes routing reliability of bitcoin (BTC).

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The Lightning Network, Bitcoin’s largest layer 2 network with no connection to an altcoin, has a structural bias toward channel depletion.

That is, money tends to flow in one direction along channels from senders toward structural receivers, such as merchants receiving BTC who deliver goods and services to customers.

Routing nodes are left with channels that are stuffed with BTC on one side and depleted of BTC on the other. A channel that cannot send in both directions is effectively half-broken for routing purposes. 

Lightning’s total capacity set a fresh all-time high of roughly 5,600 BTC in December 2025, but that surge arrived almost entirely through institutional deposits from Binance and OKX into existing channels. Year-to-date data tells a different story.

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BTC capacity from December’s high above 5,600 has declined to 4,884 today, and payment channels have declined from more than 80,000 in mid-2023 to about 45,000 today, nearly halving as liquidity consolidated into lopsided channels on a shrinking graph.

The cheapest fix is the one nobody will start

René Pickhardt, one of the network’s most prolific routing researchers, wrote that most channels “are expected to be depleted over time, primarily due to selfish routing behavior within the current protocol design.”

By his accounting, any given payment link has roughly a coin-flip chance of avoiding long-term depletion.

Researchers have described the embarrassingly simple yet elusive solution. 

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Presenting several nodes sitting on a circular payment path connected to one another by payment channels and all lopsided in the same direction, each could push BTC around the loop and finish a complete cycle with healthier channels as a result.

Everyone would benefit if everyone cooperated at the same time.

The problem, as with every Mexican standoff, is who pays first. 

Routing BTC over Lightning costs money. Whichever node kicks off the rebalance owes routing fees to every other hop on the loop. If they wait, other nodes can receive their rebalancing for free and pocket the fee.

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Although every node operator on the ring would benefit most as a collective if they all pushed BTC around for a single sending plus a single receiving fee — i.e. for nearly free in net — each operator also has the rational choice to wait for someone else to send first so they can collect without sending.

Wait for someone else to move first. It is a Mexican standoff.

Read more: Why two-party Bitcoin Lightning channels keep failing

A graveyard of fixes for Lightning channel imbalances

The industry has thrown nearly a decade of engineering at channel imbalances without solving these types of standoffs.

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Alex Bosworth’s submarine swaps, announced in August 2018, let operators shuffle BTC between on-chain and Lightning to reload channels.

It helped a bit, but every swap burned a real BTC transaction fee, so adoption didn’t pick up enough to solve many of the network’s recurring Mexican standoffs.

Lightning Labs packaged the idea into Loop and, later, into Lightning Pool, a non-custodial marketplace for inbound channels since at least November 2020.

Lightning Pool activity declined within roughly a year, and the product faded from the ecosystem. 

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Core Lightning’s Liquidity Ads, the closest protocol-native alternative, sees fulfillment that one recent analysis described as sporadic at best.

Amboss Technologies launched Magma in April 2022 to let operators buy and sell inbound liquidity peer-to-peer. Other rebalancing scripts like C-Otto’s rebalance-lnd and Bosworth’s Balance of Satoshis let operators pay themselves through loops when fees permit.

A new proposal this week aims to encourage cooperation at a protocol level.

A perennial problem with Lightning

None of those efforts have prevented standoffs from recurring.

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Protos has previously documented Pickhardt’s argument that depletion is a structural property of the two-party channel itself, not an operational hiccup. 

His January 2026 paper identified three possible mitigations: symmetric fees per direction, convex or tiered fees, and coordinated replenishment.

The first two require fee structures most routing nodes would reject outright. The third requires somebody to volunteer to coordinate.

Coordination is where Lightning keeps getting stuck. The protocol is supposed to work with nodes routing selfishly without trusting each other.

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When channels become lopsided, however, fixing the network’s most persistent liquidity problem requires exactly the type of coordination the protocol was built to avoid.

Got a tip? Send us an email securely via Protos Leaks. For more informed news, follow us on X, Bluesky, and Google News, or subscribe to our YouTube channel.

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Grok AI Just Predicted XRP Could Hit $15 If Ethereum Reaches $54,000: Is the Math Actually Realistic?

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Grok AI Just Predicted XRP Could Hit $15 If Ethereum Reaches $54,000: Is the Math Actually Realistic?

XRP price is trading at $1.40, sitting in its tightest compression band since March 2026, and a viral Grok AI prediction is giving holders a reason to pay attention.

An XRP price chart making rounds in crypto circles suggests Ethereum could reach $54,000 by 2027–2028 by repeating its 2020–21 fractal pattern. The question that followed: if ETH actually gets there, where does XRP land?

Crypto personality Amonyx (@amonyx) took that exact question to Grok. The AI pulled historical correlation data showing ETH and XRP track between 0.6 and 0.7 during euphoric market phases.

Based on that, Grok placed XRP in an $8–$15 realistic range during a full bull cycle aligned with an ETH run to $54k, while flagging that a push above $20 “would need blow-off top mania.” The disclaimer was explicit: “Pure speculation, nothing guaranteed.”

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With seven spot XRP ETF decisions queued at the SEC and a compressed price structure that has analysts talking about asymmetric setups, the timing of this AI prediction lands at a genuinely interesting moment for the asset.

Discover: The best crypto to diversify your portfolio with

Is Grok Crypto Prediction Right? Can XRP Price Hit $4 Before Q2 2026?

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XRP price ran into $1.50, got rejected, and is now sitting around $1.40, acting as the level holding everything together.

This is one of the tightest ranges it has traded in months, and that kind of compression usually leads to a sharp move.

Source: Tradingview

Right now, the structure is simple. If XRP price can break above the $1.50 to $1.55 zone and build momentum, that is where the path opens toward the $2.00 area, which is the next major ceiling on the chart.

If nothing changes on the catalyst side, the more realistic outcome is a slow grind higher, with price working its way toward the low $2 range as broader market sentiment supports it.

The risk is losing $1.30, because that is the only real floor in place right now, and if it breaks on volume, the whole bullish setup fades, and the move likely extends lower.

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Everything else comes down to one variable, institutional demand. If ETF approvals come through, that is what can accelerate price quickly and close the gap between a slow recovery and a strong breakout.

Discover: The best pre-launch token sales

Bitcoin Hyper Targets Early-Mover Upside as XRP Price Tests Key Levels

XRP’s setup is genuinely compelling, but even at $8, that’s a 6x from here on an asset with a $70 billion market cap base.

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Early-stage infrastructure plays offer a different risk/reward profile entirely, and some traders rotating between cycles are already looking there.

Bitcoin Hyper is positioning itself as infrastructure for the next leg: the first Bitcoin Layer 2 with Solana Virtual Machine (SVM) integration, claiming sub-Solana latency while inheriting Bitcoin’s security layer.

The project has raised $32M in its presale at a current token price of $0.013679, with staking available at high APY for early participants.

The core thesis, bringing fast, low-cost smart contracts to Bitcoin without abandoning its trust model, targets a gap that neither Ethereum nor Solana fills directly.

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Research Bitcoin Hyper here.

The post Grok AI Just Predicted XRP Could Hit $15 If Ethereum Reaches $54,000: Is the Math Actually Realistic? appeared first on Cryptonews.

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Intel (INTC) Stock Soars After Earnings Beat on AI and Data Center Momentum

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INTC Stock Card

Key Highlights

  • Intel shares rally significantly following robust quarterly earnings performance
  • Artificial intelligence workloads and data center expansion fuel revenue acceleration
  • First-quarter results demonstrate margin improvement and operational momentum
  • Enterprise AI adoption drives stock appreciation after earnings announcement
  • Data center segment strength and enhanced profitability outlook boost investor sentiment

Intel Corporation (INTC) experienced notable appreciation during regular trading hours and saw dramatic gains in after-hours activity following its first-quarter 2026 financial report. The semiconductor giant’s shares concluded the session at $66.78, representing a 2.31% advance, before climbing to $76.53 in extended trading. This momentum reflects robust demand for artificial intelligence-focused products, expanding data center operations, and enhanced performance across key business divisions.


INTC Stock Card

Intel Corporation, INTC

Revenue Growth and Profitability Gains Powered by AI Infrastructure

Intel delivered first-quarter revenues totaling $13.6 billion, representing a 7% year-over-year increase. This expansion resulted from accelerating demand for central processing units and artificial intelligence infrastructure throughout enterprise and cloud computing environments. Beyond top-line growth, the company achieved a gross margin of 39.4%, demonstrating enhanced product portfolio composition and disciplined cost management.

Non-GAAP financial metrics revealed superior operational results despite GAAP-based losses attributable to organizational restructuring and accounting modifications. Non-GAAP net income climbed to $1.5 billion, representing a substantial 156% year-over-year jump. Per-share earnings increased to $0.29, underscoring enhanced profitability throughout various operational divisions.

The Data Center and AI division spearheaded revenue growth, producing $5.1 billion in sales—a 22% year-over-year advancement. The Client Computing Group contributed $7.7 billion, demonstrating consistent demand throughout personal computing and edge device markets. Overall Intel Products revenue advanced 9%, validating strength across fundamental operations.

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Collaborative Initiatives and Product Portfolio Expansion Bolster Market Position

Intel broadened its technology offerings through new Xeon processor introductions and Core Ultra series chip deployments across diverse market segments. These product rollouts address enterprise, mobile computing, and edge infrastructure markets with advanced artificial intelligence functionality and performance optimization. Beyond product introductions, Intel reinforced strategic collaborations to expand its infrastructure footprint internationally.

The semiconductor manufacturer announced an extended partnership with Google to implement Xeon processors throughout specialized cloud computing instances. This alliance encompasses joint development of customized infrastructure processing units designed to optimize artificial intelligence workload performance. Intel secured its position as the primary CPU supplier for NVIDIA’s DGX Rubin platform configurations.

Intel simultaneously progressed its foundry roadmap by enlarging assembly and testing facilities in Malaysia. This expansion addresses increasing demand for sophisticated packaging solutions and enhances supply chain robustness. Intel participated in the Terafab coalition alongside prominent technology corporations to expedite semiconductor manufacturing advancement.

Forward Guidance Demonstrates Sustained AI and Foundry Division Momentum

Intel projected second-quarter 2026 revenue ranging from $13.8 billion to $14.8 billion, signaling persistent demand trajectory. The organization anticipates non-GAAP earnings per share of $0.20, underpinned by margin enhancement and operational effectiveness. GAAP forecasts remain comparatively subdued due to continuing restructuring effects.

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The company pursues manufacturing network optimization to address expanding customer requirements. This strategic approach targets improved supply accessibility and accommodates rising demand for AI-enabled semiconductor solutions. Intel emphasizes production capacity scaling while fortifying its financial position.

Intel’s forward-looking perspective reflects enduring growth propelled by artificial intelligence integration and data center proliferation throughout international markets. The organization continues repositioning its operational framework while broadening partnerships and technological capabilities. Consequently, the post-earnings stock appreciation corresponds with strengthened fundamentals and superior execution performance.

 

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Aave leads DeFi bailout push after $292M crypto exploit

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Aave leads DeFi bailout push after $292M crypto exploit

Aave and several major crypto firms are coordinating a recovery effort to stabilize decentralized finance (DeFi) markets after a $292 million exploit left the sector’s largest lender grappling with a large hole in collateral backing.

The initiative, dubbed “DeFi United” and led by Aave service providers, is aimed at restoring the backing of rsETH, a yield-bearing derivative token of ether (ETH), that sits at the center of the exploit.

Aave said in a post on X that multiple participants have already indicated commitments to support the effort.

The first among them was staking provider Lido Finance, whose ecosystem contributor Lido Labs Foundation put forward a proposal to allocate up to 2,500 stETH, worth roughly $5.7 million at current prices, into a dedicated relief vehicle.

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The funds would be used to reduce the shortfall in rsETH backing and help prevent forced liquidations across lending markets.

That was followed by EtherFi proposing a 5,000 ETH plan to “protect users and prevent bad debt” across DeFi.

Stani Kulechov, founder of Aave, offered a 5,000 ETH contribution.

“Aave is my life’s work and we’re working nonstop to find the best possible outcome for users,” he said in an X post. “I’m working to see this resolved and market conditions normalized as soon as possible.”

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Aave said it plans to announce more commitments once formalized.

Exploit ripples across DeFi

The initiative comes after the biggest crypto exploit of the year rattled DeFi lending markets.

The incident traces back to a vulnerability in KelpDAO’s integration with LayerZero, where an attacker minted 116,500 unbacked rsETH tokens by exploiting the bridge’s messaging system.

Instead of dumping the tokens, the attacker deposited nearly 90,000 rsETH into Aave as collateral, borrowing about $190 million in ETH and other assets across Ethereum and Arbitrum.

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That left Aave with impaired collateral, triggering a run on deposits as lenders rushed to withdrew available funds. The total value of assets on Aave plunged by $10 billion following the incident.

The total hole is estimated to be more than 112,000 rsETH, according to Aave’s incident report.

Before the DeFi United initiative, there have been some early containment efforts. Earlier this week, Arbitrum’s security council froze 30,766 ETH, worth roughly $71 million then, tied to the exploit.

However, the remaining of the stolen funds were bridged and swapped into bitcoin via Thorchain, making recovery more complex.

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The current effort focuses less on clawing back funds and more on stabilizing the system with a coordinated bailout to recapitalize rsETH and mitigate losses.

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Anchorage Digital Adds Solana Staking via Marinade Finance

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Anchorage Digital X.com post re MarinadeFinance  is now live on Anchorage  Digital

Anchorage Digital has integrated Marinade Finance into its platform, allowing institutional clients to stake Solana tokens through automated validator strategies while maintaining custody of their assets.

According to Thursday’s announcement, the integration gives clients direct access to Marinade’s staking strategies within Anchorage’s custody and wallet infrastructure, including its Porto self-custody wallet, without requiring external applications.

The setup separates staking delegation from withdrawal control, allowing institutions to participate in validator selection and yield generation while retaining asset control.

Clients can choose between two staking strategies: one that allocates across a curated set of roughly 30 KYC-verified validators for compliance-focused use cases, including regulated financial products such as exchange-traded funds (ETFs). Another dynamically distributes stake across a broader validator set spanning hundreds of operators to optimize yield.

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Anchorage Digital X.com post re MarinadeFinance  is now live on Anchorage  Digital
Anchorage Digital X.com post re MarinadeFinance is now live on Anchorage Digital

The integration is available through Anchorage Digital’s platform and its Porto wallet, where staking, custody and asset management functions are combined within a single interface.

Anchorage Digital is a San Francisco-based crypto custody provider that operates the first federally chartered crypto bank in the United States. In January, it was reported to be seeking between $200 million and $400 million in new funding as it considers a potential initial public offering next year.

Related: Galaxy expands retail platform with SOL staking, targeting 6.5% yield

Institutional yield strategies expand from staking to Bitcoin DeFi

Institutions are increasingly seeking yield on crypto holdings without moving assets out of custody, as staking gains traction among asset managers and product issuers.

In February, Ripple expanded its custody platform through integrations with Securosys and Figment, enabling banks and custodians to offer staking without running validators or managing keys, with support across on-premises and cloud environments and built-in compliance checks.

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The following month, Anchorage Digital integrated with Puffer Finance to offer liquid restaking on Ethereum, allowing clients to stake Ether (ETH) and receive pufETH, a transferable token representing a restaked position that continues earning rewards.

While staking — that is, earning rewards for securing a network — was traditionally limited to proof-of-stake assets, similar yield strategies are emerging for Bitcoin (BTC) via decentralized finance (DeFi) integrations.

Lombard recently teamed with Bitwise Asset Management to enable institutions to earn yield and borrow against Bitcoin without moving assets out of custody, combining DeFi lending and tokenized real-world assets with infrastructure from Morpho.

Similarly, Fireblocks has integrated Stacks to provide institutional access to Bitcoin-based lending and yield, using faster block times while settling transactions on Bitcoin for finality.

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Magazine: Adam Back says current demand is ‘almost’ enough to send Bitcoin to $1M

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

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Moreno Sets May CLARITY Act Deadline

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Moreno Sets May CLARITY Act Deadline

Senator Bernie Moreno declared at a Washington event on April 22 that the CLARITY Act must clear Congress by the end of May, stating plainly that missing that deadline could shelve the legislation indefinitely as midterm election politics consume the remainder of the congressional calendar.

Summary

  • Senator Bernie Moreno set an end-of-May deadline for the CLARITY Act at a DC event on April 22, 2026, warning that failure to meet it could permanently delay the bill.
  • Moreno’s statement pushed Polymarket odds of the CLARITY Act passing in 2026 from 38% to 46%, but Galaxy Research still puts chances at roughly 50-50 or lower.
  • The bill faces five sequential hurdles after any Senate Banking Committee markup, and Congress breaks for Memorial Day recess on May 21, leaving an extremely narrow operational window.

Senator Bernie Moreno told attendees at a Washington event on April 22 that the CLARITY Act will get done by the end of May, and that failure to hit that window risks shelving the legislation indefinitely. “I think we’re going to get it done by the end of May,” Moreno said, according to Disruption Banking. His statement pushed Polymarket odds of the CLARITY Act passing in 2026 from 38% to 46%, though the prediction market remains far from confident.

Senator Moreno CLARITY Act Deadline Sets the Stakes for the Crypto Industry

Moreno also dismissed the stablecoin yield opposition from banking groups as noise. “There’s a lot of noise in the market, but most of it is fake,” he said, adding that banks need to innovate rather than block legislation. The comment came as the North Carolina Bankers Association was actively urging member banks to call Senator Thom Tillis’s office and demand changes to the stablecoin yield compromise that had already been negotiated with the crypto industry. As crypto.news reported, banking groups including the American Bankers Association have warned that allowing stablecoin rewards could drain up to $6.6 trillion in deposits from the banking system, a position the White House Council of Economic Advisers directly contradicted by calculating the lending impact of a yield ban at just 0.02%. Treasury Secretary Scott Bessent has also warned publicly that regulatory delay pushes digital asset innovation toward Dubai and Singapore.

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Why the May Window Is the Only Real Window Left

Congress breaks for Memorial Day recess on May 21, leaving fewer than four weeks of operational legislative time after Moreno’s April 22 statement. As crypto.news has tracked, even after a successful Banking Committee markup, the bill requires a 60-vote Senate floor threshold, reconciliation between the Senate Agriculture Committee and Banking Committee versions, reconciliation with the House-passed text from July 2025, and a presidential signature. That is four sequential steps after the markup, each a potential delay point. Galaxy Research analyst Alex Thorn noted that only approximately 18 working weeks remain before the October midterm recess, meaning every week of Senate inaction now shrinks the floor consideration window to the point where 2026 passage becomes structurally implausible without Banking Committee clearance this month.

Galaxy Research Puts Passage Odds at 50-50

As crypto.news documented, Galaxy Research has assessed the odds of the CLARITY Act being signed into law in 2026 at roughly 50-50, and possibly lower. “The uncertainty stems not from any single issue but from the sheer number of unresolved questions that must be settled in sequence under severe time pressure,” Galaxy said in a research note circulating this week. Senator Cynthia Lummis has gone further than Moreno in framing the stakes, warning publicly that missing this window means waiting until at least 2030, when a new Congress would need to restart the entire legislative process from the beginning. The Senate Banking Committee has not announced a markup date as of publication.

A lame duck session of Congress after the November elections has been floated by some industry insiders as a last-ditch fallback option if the May window closes, though Galaxy Research describes that scenario as low probability.

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Olimp Casino Azerbaijan yeni oyunular n onlayn bldi.1047

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Bridging for Yield: Hidden Risk and Hidden Alpha

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Lido Reports 9% rsETH Exposure After KelpDAO Exploit

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Brian Armstrong's Bold Prediction: AI Agents Will Soon Dominate Global Financial

TLDR

  • Lido confirmed that its EarnETH vault has about 9% direct exposure to rsETH after the KelpDAO exploit.
  • Lido paused EarnETH deposits and withdrawals while curators work through the fallout.
  • The protocol stated that stETH and wstETH remain unaffected by the incident.
  • The KelpDAO exploit involved 116500 rsETH valued at around $292 million at the time.
  • Aave froze rsETH and wrsETH markets across deployments following the exploit.

Lido confirmed that its EarnETH vault holds about 9% direct exposure to rsETH after the KelpDAO exploit. The protocol paused deposits and withdrawals while curators address the fallout. It also stated that its core staking system, including stETH and wstETH, remains unaffected.

Lido Details EarnETH Exposure and Safeguards

Lido said its EarnETH vault carries roughly 9% direct exposure to rsETH following the April 18 exploit. The team paused deposits and withdrawals while curators assessed the situation. However, Lido confirmed that stETH and wstETH remain untouched and operational.

The exploit targeted KelpDAO when an attacker forged a cross-chain message. The attacker released 116,500 rsETH without a burn on the source chain. That amount was valued at nearly $292 million and equaled about 18% of circulating rsETH.

As a result, lending platforms froze rsETH markets to limit further damage. Aave stated that its guardian froze rsETH and wrsETH markets across deployments on April 18. Consequently, several staking loop strategies faced pressure from liquidity constraints.

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Lido said the issue extends beyond direct rsETH exposure within EarnETH. Contributors are addressing elevated borrowing costs and tighter liquidity in lending markets. Veda and Mellow have reduced leverage and cut wETH debt in affected strategies.

Lido also said EarnETH holds other positions independent of rsETH. The team reported that rapid deleveraging placed the vault in a stronger position. However, it continues to evaluate potential losses tied to the exploit.

Recovery Steps and Broader Market Response

Lido outlined a $3 million first-loss protection mechanism funded by the Lido DAO treasury. The DAO will burn its vault shares to absorb any realized loss. This measure will activate if EarnETH records an actual deficit.

The protocol also mentioned a possible last-resort withdrawal path. Curators may allow early exits with a maximum anticipated haircut. Lido said it would use this option only if remediation takes longer than expected.

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The broader stress began when the attacker moved the illicit rsETH into lending venues. The attacker then borrowed ETH against the tokens, which strained liquidity. Risk managers responded by freezing rsETH markets to contain exposure.

Products tied to looped staking strategies felt the impact across protocols. Lido stated that its DVV and EarnUSD vaults have no exposure to rsETH issues. However, the GGV subvault holds looped staking positions and currently posts negative yields.

Lido said users who submitted GGV withdrawal requests before the incident will receive pre-incident valuations. This policy applies to requests made before the market disruption. The protocol continues to provide updates on loss allocation and recovery progress.

Arbitrum’s Security Council froze about 30,766 ETH linked to the exploit. The frozen amount carries an estimated value of $71 million. Lido said recovery efforts remain active while public updates continue to develop.

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NYC Mayor Mamdani knocked Ken Griffin in pied-a-terre tax promo. His firm calls the move ‘shameful’

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NYC Mayor Mamdani knocked Ken Griffin in pied-a-terre tax promo. His firm calls the move 'shameful'

Citadel CEO Ken Griffin speaks during the Semafor World Economy Summit 2025 at Conrad Washington on April 23, 2025 in Washington, DC.

Kayla Bartkowski | Getty Images

Citadel rebuked New York City Mayor Zohran Mamdani for singling out Chief Executive Officer Ken Griffin in a push for a new pied-à-terre tax, escalating a public dispute over how aggressively New York should target wealthy non-resident homeowners.

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In a social media video filmed outside Griffin’s residence at 220 Central Park South and timed to tax day, Mamdani unveiled a proposed levy that would impose an annual surcharge on one- to three-family homes, condominiums and co-ops valued above $5 million when the owner’s primary residence is outside New York City.

Citadel denounced the mayor’s move with Chief Operating Officer Gerald Beeson saying in an internal memo obtained by CNBC that targeting Griffin showed “ignorance and disdain” toward contributors to the city’s economy.

“It is shameful that he used Ken’s name as the example of those who supposedly aren’t carrying their fair share of the burdens associated with New York City’s often costly and wasteful spending,” Beeson wrote. “In doing so, the mayor has once again manifested the ignorance and disdain of the elite political class towards those who have been consistently committed to building one of the greatest cities in the world.”

Beeson said Citadel’s principals and employees — including non-residents — have paid nearly $2.3 billion in New York city and state taxes over the past five years. He also pointed to the firm’s planned redevelopment of 350 Park Avenue, a project expected to generate about 6,000 construction jobs and more than 15,000 permanent roles, with spending projected to exceed $6 billion.

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Griffin moved Citadel headquarters from Chicago to Miami in 2022 and he has made Florida his primary residence.

The memo also highlighted that nearly 200 Citadel employees serve on boards of New York charitable institutions, while Griffin himself has directed roughly $650 million in philanthropic donations to the city.

“We understand that our hard work and success will, on occasion, make us targets for political rhetoric. But it should not diminish the pride we take in building firms that will continue to help New York City thrive for decades ahead,” Beeson wrote.

The Wall Street Journal first reported on the memo earlier Thursday.

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Azrbaycanda Mostbet AZ casino.4683 – Smart Liquidity Research

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Bridging for Yield: Hidden Risk and Hidden Alpha

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Aave Announces ‘DeFi United’ Relief Fund to Restore rsETH Backing After Kelp Exploit

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Aave Announces 'DeFi United' Relief Fund to Restore rsETH Backing After Kelp Exploit

Lido is the first service provider to publicly announce its participation in the relief fund via a governance proposal requesting up to 2,500 stETH.

Aave is rallying the DeFi ecosystem under a coordinated effort it’s calling “DeFi United” to help make users whole after the April 18 Kelp bridge exploit left rsETH — a liquid restaking token — underbacked, putting funds at risk across multiple lending markets.

Aave announced on X today, April 23, that “multiple strong indicative commitments are now in place” to join the recovery effort, with Lido Finance named as the first public participant.

The announcement came just after Lido contributors submitted a governance proposal to contribute up to 2,500 Lido Staked Ether (STETH), worth appoximately $5.7 million, to the dedicated relief fund “to be used solely to reduce the rsETH deficit.”

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Per Lido’s proposal, the total deficit exceeds 100,000 ETH, and both Aave and Lido noted that there are already indicative commitments from other service providers for the fund.

Without full coverage, Lido warns that EarnETH vault depositors could face losses of up to approximately 9,000 ETH.

Earlier today, Aave also announced on X that it had paused rsETH reserves across Ethereum Core, Arbitrum, Base, Mantle, and Linea to support recovery efforts.

Aave said in its X post that further commitments will be announced as they are formalized.

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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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