Kraken launches Bitcoin yield product
Kraken today introduced Bitcoin Vault, offering customers the ability to earn 2.5% yield on their bitcoin holdings without selling or actively having to use DeFi protocols. The Bitcoin Vault is powered by Veda with “strategy design and risk curation” by Sentora which will route deposits to established protocols like Aave and Morpho. It's available now across Kraken's platforms except in the UK, UAE, and Australia. Read more →
DeFi’s Security Problem
When the co-founder of OpenZeppelin says he considers “all of DeFi” unsafe, it’s probably worth paying attention. Manuel Aráoz, whose firm is one of crypto’s best-known smart contract security shops, said he’s now advising friends and family to exit all DeFi positions – including so-called blue-chip protocols like Aave, MakerDAO and Compound. His reasoning is because AI coding agents are getting very good at finding vulnerabilities, while defenders still have to be perfect. This warning lands after a nasty stretch for DeFi, including roughly $630 million stolen in April and 25 more reported exploits so far in May. Read more →
Nine Crypto Whales Dominate Polymarket Disputes
Polymarket has become one of crypto’s breakout products by turning real-world events into tradeable markets. But Bloomberg says its dispute system has a concentration problem. When a market outcome gets challenged, Polymarket relies on outside crypto-token holders to vote on the final result. According to Bloomberg’s analysis, just nine anonymous wallets have accounted for roughly half of those votes over the past three years – giving a tiny group of big token holders major influence over who wins and loses on some of the platform’s most contested bets. Read more →
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