Crypto Extreme

🔵 DeFi lending giant Aave unveils V4 protocol overhaul Aave Labs, the firm behind the decentralized finance (DeFi) lending protocol Aave has outlined a proposal for an upgrade and evolution of its protocol as part of a five-year roadmap. The proposal also includes “major upgrades and expansions,” to the Aave Network, a cross-chain liquidity layer, non-Ethereum Virtual Machine (EVM) layer-1 deployments, and a “fresh new visual identity,” the team stated.

🇷🇺 Russian Duma considers exchange ban as Beribit clients demand crypto, receive chocolate The troubles began with reports of a raid by Russian authorities on the offices of crypto exchange Beribit at the end of March, allegely in connection to the Crocus City Hall terrorist attack. Then, Beribit, which is an officially licensed exchange in Russia, announced on Telegram that during a change in leadership, discrepancies in the company's financials were found and an audit had to be undertaken.

Grayscale’s Bitcoin ETF hits $1.6b outflows hours before halving Grayscale’s spot Bitcoin ETF continued a five-day outflow sprint leading to the halving, a code change that occurs every four years to help maintain BTC scarcity. Data gathered by SoSoValue showed $89.9 million in Grayscale exits, bringing GBTC’s total net outflows to $1.6 billion since trading opened back in January. For all 10 spot Bitcoin (BTC) ETFs, cumulative outflows were recorded as $4.3 million, as Fidelity and BlackRock garnered demand to offset some of GBTC’s liquidations. Fidelity’s FBTC net inflows came in at $37.3 million, outpacing $18.7 million, boasted BlackRock’s IBIT. April 18 marked a rare occurrence where BlackRock was outclassed by a competitor for inflows in the spot BTC ETF market.

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💰 $10.5 Trillion Asset Manager Blackrock's Spot Bitcoin ETF Now Holds 270K BTC Blackrock, the world’s largest asset manager, shattered its record for assets under management (AUM), reaching a staggering $10.5 trillion. This financial behemoth also continues to dominate the U.S. spot bitcoin ETF market with its Ishares Bitcoin Trust (IBIT), which has amassed nearly 270K bitcoins. The asset manager’s spot bitcoin exchange-traded fund (ETF), the Ishares Bitcoin Trust (IBIT), has maintained a dominant position in the U.S. spot bitcoin ETF market. As of April 11, IBIT’s bitcoin holdings stood at approximately 269,314 BTC, with a notional value of over $18.9 billion.

💰 SushiSwap governance proposal suggests shifting DAO treasury assets to new Sushi Labs vault SushiSwap governance proposal suggests transferring assets from the DAO-controlled treasury to a new one controlled by Sushi Labs, while also ensuring that all future airdrops are directed to the Sushi Labs vault. "We request that Sushi DAO award a grant of 25 million Sushi tokens to Sushi Labs, including assets from the Arbitrum airdrop, business development, and partner grants, Kanpai 2.0, Sushi 2.0, rewards, stablecoins, and 'Sushi House' funds," the proposal by SushiSwap developer Jiro said.

🇰🇷 Crypto.com to launch platform in South Korea following local exchange acquisition Global digital asset exchange Crypto.com is launching its retail trading services in South Korea on April 29, according to its announcement on Tuesday. “We are incredibly excited to be launching the Crypto.com App for retail users in South Korea — a market of tremendous importance to the growth of our business, and one in which consumers are very interested in crypto,” said Eric Anziani, president and chief operating officer of Crypto.com, in the announcement.

🪙 Fidelity files registration statement for Ethereum ETF despite regulatory uncertainty Fidelity Investments has taken another step in its effort to launch a spot Ethereum ETF, filing a registration statement on March 27 despite the uncertain regulatory landscape. Fidelity’s actions, alongside those of other firms aiming to introduce spot ether ETFs, illustrate the growing interest in integrating digital assets into traditional financial products. Yet, obtaining regulatory approval presents a notable challenge, highlighting the evolving and uncertain nature of crypto regulation.

🪙 Ethereum ICO Whale Awakens, Moves 2000 ETH Amid Ongoing Recovery An Ethereum (ETH) Initial Coin Offering (ICO) participant has woken up after more than 8.7 years of staying dormant, a move that has sparked speculations in the broader digital currency ecosystem. The first action orchestrated by the whale according to data from the crypto analytics platform Lookonchain is to transfer the sum of 2000 ETH worth as much as $6.7 million based on the current market price of the digital currency at $3,350 level.

🇺🇸SEC delays lower expectations of Ethereum ETF approval by May despite staking additions The US SEC has delayed the approval process for several highly anticipated Ethereum exchange-traded funds (ETFs), recent regulatory filings show. The delays affect proposals from investment firms, including VanEck, Ark Invest, Hashdex, and Grayscale — which has added a staking component to its ETH ETF application along with Fidelity — sparking discussions about the future of crypto ETFs in the US.