1. Movement Labs Co-Founder Temporarily Suspended Amid Market Maker Scandal
Movement Labs faces scrutiny after Coindesk revealed a controversial market maker arrangement involving 660 million MOVE tokens transferred to intermediary Rentech. The subsequent $38 million token dump crashed prices, prompting Binance to delist MOVE. Despite internal objections, leadership approved the deal, raising governance concerns.
- Coinbase Suspension: Trading halts on May 15, 2025 (ET).
- Foundation Safeguards: 8.15 billion MOVE tokens secured in a multi-sig vault.
- Governance Review: External audit by Groom Lake underway; co-founder Rushi Manche suspended.
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2. World Expands to US with Visa Card & Tinder Partnership
Formerly Worldcoin, World debuts in Atlanta, LA, Miami, and three other US cities. Users verifying humanity via World ID can claim WLD tokens. Key developments:
- Visa Card: Spend crypto via World App.
- Tinder Pilot: Japan dating app ID verification with Match Group.
- Kalshi Integration: Adds prediction market functionality.
3. Base Achieves Stage 1 Rollup Decentralization
Base meets Vitalik Buterin’s Stage 1 criteria by enabling:
- Fault Proofs: Users can challenge invalid withdrawals.
- Security Council: 10-member multi-sig group (75% consensus required) to oversee upgrades, reducing reliance on Coinbase.
4. Scroll Becomes First zk-Rollup to Reach Stage 1
Co-founder Ye Zhang announces Euclid Upgrade features:
- No Arbitrary Upgrades: Users get exit time before changes.
- Censorship Resistance: Direct L1 transaction submissions.
- Liveness Guarantees: Network remains operational if sequencers fail.
5. Aave Proposes $6M AAVE Buyback
Community votes on allocating 3M aEthUSDT + 3M aEthUSDC for repurchases over six weeks. Additional plans:
- GHO Stablecoin: Buy 4M units for operations.
- Asset Migration: Shift cross-chain funds to Ethereum mainnet.
6. Sky Proposal: SKY to Replace MKR as Sole Governance Token
Atlas Axis proposes:
- SKY Staking: New utility for governance.
- MKR Conversion: 1:24,000 ratio (1% fee post-Sept 18, increasing quarterly).
- Timeline: Full transition by May 15–19 pending vote.
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7. Ethena Partners with TON to Bring USDe to Telegram
USDe and sUSDe (as tsUSDe) integrate with:
- Telegram Wallet: Native app access.
- TON Ecosystem: Compatibility with Tonkeeper/TONHub.
8. PancakeSwap Infinity Launches on BNB Chain
V4 Features:
- Custom Pools: CLAMM/LBAMM options.
- Gas Optimization: Reduced fees for swaps/liquidity.
- Hooks Plugins: Extendable functionality (source code to open soon).
9. Binance Alpha 2.0 Hits Record $206M Daily Volume
Driven by airdrop demand, top-traded tokens:
- KMNO: $63.4M
- POPCAT: $28.7M
- FARTCOIN: $27.6M
10. Binance Lists StakeStone (STO) for HODLer Airdrop
STO Trading Pairs: USDT, USDC, BNB, FDUSD, TRY.
- Circulating Supply: 225M (15M airdropped).
- Utility: Marketing rewards and TGE integration.
FAQ
Q1: Why was Movement’s MOVE delisted?
A: The $38M market maker dump violated exchange policies, triggering a Binance ban.
Q2: How does World’s Visa card work?
A: Links to World App for crypto-to-fiat spending at Visa merchants.
Q3: What’s Stage 1 for zk-Rollups?
A: Vitalik’s framework mandates fault proofs, censorship resistance, and user exit options.
Q4: Can MKR holders still convert to SKY?
A: Yes, but fees rise 1% every three months post-Sept 18.
Q5: Is USDe coming to Telegram?
A: Yes, via TON integration as tsUSDe.
Disclaimer: This content is informational only and does not endorse financial activities. Comply with local laws regarding digital assets.
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