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The proposal drew mixed reactions from the community where some criticized the strategy for buying more CRV even as others are looking to shed exposure. Amid growing uncertainty around Curve exposure for many decentralized finance protocols, Aave Chan founder Marc Zeller has proposed that Aave Treasury buy $2 million worth of CRV tokens in USDT from Curve Founder Michael Egorov. The proposal noted that the $2 million worth of Curve DAO Tokens (CRV) acquisition would send a strong signal of DeFi supporting DeFi while allowing the Aave DAO to strategically position itself in the Curve wars and help Aave’s decentralized multi-collateral stablecoin GHO’s liquidity. At the current price, $2 million worth of USDT would net 5 million CRV tokens and Zeller suggested these newly bought curve tokens could be locked as veCRV for four years. These tokens could then be used for voting rights on the Curve platform where Curve users would be able to use it to provide liquidity for token pairs that...

While most coins are reeling under pressure, Bitcoin and select altcoins such as ADA, ATOM, LDO, and ARB are showing promise. The S&P 500 Index (SPX) closed the week with a nominal loss of 0.29% but Bitcoin is on target to finish the week with a deeper cut of more than 5%. The weakness in Bitcoin pulled several altcoins lower, indicating weakening sentiment. A silver lining is Bitcoin’s solid bounce on May 12. Several analysts anticipate Bitcoin to start a recovery but monitoring resource Material Indicators sounded cautious. In a recent Analysis , they said that the lack of a strong bid from the whales at lower levels could be a concerning sign. They believe that the bullish perspective will invalidate if Bitcoin sustains below the 200-week moving average. Over the next few days, the progress on the debt ceiling talks between leaders from Congress and the White House is expected to take center stage. The uncertainty and risks of a potential U.S. default co...