US Special Forces Soldier Arrested After Winning $400k on Maduro Raid
The DOJ arrested Army soldier Gannon Ken Van Dyke, for using confidential information about the January capture of Venezuelan President Nicolás Maduro to place bets on Polymarket. Van Dyke made 13 trades starting in December, spending over $33,000 and profiting roughly $409,881 before attempting to delete his account. He faces three counts of violating the Commodity Exchange Act, wire fraud, and unlawful monetary transaction charges carrying up to 60 years in prison. Read more →
Aave Leads 'DeFi United' Relief Fund
Aave is rallying DeFi platforms around a new “DeFi United” relief fund after the April 18 Kelp bridge exploit left rsETH underbacked and created risk across several lending markets. Lido was the first public participant, with contributors proposing up to 2,500 stETH to help reduce the rsETH deficit, while Aave said additional commitments are already in place but not yet finalized. It’s a fairly grown-up response from DeFi’s biggest players — part bailout, part crisis management — but the final size, structure, and coverage of the fund are still unclear. Read more →
Morgan Stanley Launches Stablecoin Reserves Fund
Morgan Stanley is pushing further into crypto’s financial plumbing with a new government money market fund built specifically for stablecoin issuers to park reserves. The product, called the Stablecoin Reserves Portfolio (MSNXX), is designed to line up with the kinds of reserve requirements laid out in the GENIUS Act, investing only in cash, short-dated treasuries, and overnight repo backed by treasuries while aiming to maintain a stable $1 NAV. Overall, it’s the kind of boring, compliant reserve vehicle that stablecoin companies may need if the category keeps institutionalizing. Read more →
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