Threshold Says tBTC Bridge Has Resumed Onchain, but App Remains Paused

Crypto market fell 2.2% to $2.45T after US inflation data suggested a Fed rate hike. Bitcoin dropped to $73,555, Solana fell 4.1% to $82.95, and Aave declined 6.1% to $123.75. $718M in leveraged positions were liquidated. Fed's Dec. 9 rate hike is now priced in.

Aave Labs acquired Avon, a fixed-rate lending startup, to expand its DeFi capabilities. The deal includes Avon's lending protocols and team. Aave's network has over $33 billion in deposits and $13 billion in loans. Payward, Kraken's parent, recently bought AAVE tokens. Fixed-rate lending could attract more borrowers, but specifics on implementation are unclear.

Aave Labs acquired Avon's team and tech, including fixed-rate lending protocols, to expand Aave's offerings. Key personnel joined Aave Labs, and Aave has $33B in deposits and $13B in active loans. Deal terms were not disclosed.

Aave Labs acquired Avon, a fixed-rate lending protocol, to expand into predictable-interest lending. The deal includes Avon's team and technology, aiming to reduce borrowing cost volatility and enhance Aave's upcoming V4 version. Aave has over $30 billion in deposits across its network.

Threshold Network suspended tBTC minting and redemptions, prompting Aave and Gauntlet to restrict exposure to the tokenized Bitcoin asset. Approximately $136 million in tBTC is on Aave, with holders facing potential liquidity risks. Threshold assured that no funds were lost but did not disclose the security issue or provide a reopening date.

Aave froze lending markets after Binance hot wallets were exploited, preventing new supply or borrow positions. The exploiter used Aave to borrow 19,762 WETH, collateralized by 60,000,000 USDT. Binance has not confirmed the total amount lost. Aave's GHO stablecoin briefly depegged, and AAVE token fell 9%. Markets are reopening in phases, with certain assets restricted as collateral.