Kelpdao

KelpDAO has filed a civil lawsuit against LayerZero and co-founder Bryan Pellegrino, alleging undisclosed weaknesses in the cross-chain protocol enabled a major rsETH exploit. Pellegrino called the claim meritless and said he will defend himself and LayerZero in a British Columbia court.

Kraken is evaluating a deal to acquire a 15% stake in DeFi lending protocol Aave at a valuation of $385 million, according to sources. The move comes as Payward seeks to diversify ahead of a possible IPO and as Aave rebuilds after the KelpDAO fallout.