Prediction market Limitless completes $10 million seed round of financing, led by 1confirmation

The post Aave DAO to Shut Down 50% of L2s While Doubling Down on GHO appeared on BitcoinEthereumNews.com. Aave DAO is gearing up for a significant overhaul by shutting down over 50% of underperforming L2 instances. It is also restructuring its governance framework and deploying over $100 million to boost GHO. This could be a pivotal moment that propels Aave back to the forefront of on-chain lending or sparks unprecedented controversy within the DeFi community. Sponsored Sponsored ACI Proposes Shutting Down 50% of L2s The “State of the Union” report by the Aave Chan Initiative (ACI) paints a candid picture. After a turbulent period in the DeFi market and internal challenges, Aave (AAVE) now leads in key metrics: TVL, revenue, market share, and borrowing volume. Aave’s annual revenue of $130 million surpasses the combined cash reserves of its competitors. Tokenomics improvements and the AAVE token buyback program have also contributed to the ecosystem’s growth. Aave global metrics. Source: Aave However, the ACI’s report also highlights several pain points. First, regarding the Layer-2 (L2) strategy. While Aave’s L2 strategy was once a key driver of success, it is no longer fit for purpose. Over half of Aave’s instances on L2s and alt-L1s are not economically viable. Based on year-to-date data, over 86.6% of Aave’s revenue comes from the mainnet, indicating that everything else is a side quest. On this basis, ACI proposes closing underperforming networks. The DAO should invest in key networks with significant differentiators. Second, ACI is pushing for a complete overhaul of the “friendly fork” framework, as most have been unimpressive regarding TVL and revenue. In some cases, attackers have exploited them to Aave’s detriment, as seen with Spark. Sponsored Sponsored “The friendly fork model had a good intention but bad execution where the DAO was too friendly towards these forks, allowing the DAO only little upside,” the report states. Third, the instance model, once a smart…

As Bitcoin (BTC) eyes a potential breakout above $112,000 this week, investors are keeping a close watch on both the king of crypto and emerging altcoins that could offer outsized gains. While BTC remains a primary store of value, many traders are wondering what crypto to buy now for exponential growth opportunities. One project gaining […]

The post Ethereum Foundation Moves Entire $650M+ Treasury to Safe Multisig appeared on BitcoinEthereumNews.com. EF completes full treasury migration to Safe smart accounts, joining Vitalik Buterin as key Safe user + Safe smart accounts cross 750M transactions milestone.   The Ethereum Foundation has completed the migration of its full treasury, over 160,000 ETH worth approximately $650 million to Safe{Wallet}, following months of successful DeFi testing. Safe{Wallet}, operated by Safe Labs (a fully owned subsidiary of the Safe Foundation), is the crypto industry’s trusted smart account standard for multisig wallets, securing billions of dollars in assets for institutions, DAOs, and projects. The move follows the Foundation’s June 2025 treasury policy announcement, which committed to actively participating in Ethereum’s DeFi ecosystem. Since February, the EF had been testing Safe with a separate DeFi-focused account, dogfooding protocols including Aave, Cowswap, and Morpho as part of their strategy to support applications built on Ethereum. After testing a 3-of-5 multisig configuration on January 20th, the Foundation has now consolidated its remaining ETH holdings into Safe, completing the transition from their previous custom-built multisig solution. This implementation enables the Ethereum Foundation to actively participate in DeFi via Safe while maintaining battle-tested security standards, marking another step toward Safe’s vision of moving the world’s GDP onchain through battle-tested self-custody infrastructure. “Safe has proven safe and has a great user experience, and we will transfer more of our funds here over time,” the Ethereum Foundation announced, indicating this is the beginning of a deeper commitment to the Safe smart account standard. Safe’s Momentum The timing is notable: Safe has just crossed 750 million transactions (751,062,286 as of today) with over 57.5 million Safes created across multiple chains. The protocol has emerged as crypto’s de facto standard for multisig wallets, securing billions in institutional and DAO treasuries. Safe also counts Ethereum co-founder Vitalik Buterin among its prominent users, who revealed in May 2024 that…