Aave founder Stani Kulechov is facing criticism after a $10 million AAVE purchase ahead of a key DAO vote, as critics raise concerns over voting power concentration. Aave founder Stani Kulechov is facing scrutiny over his recent $10 million purchase of AAVE tokens, with some in the crypto community claiming it was used to boost his voting power in a key governance proposal. In a Wednesday post on X, Robert Mullins, a decentralized finance (DeFi) strategist and liquidity specialist, argued that the purchase was meant to increase Kulechov’s “voting power in anticipation to vote for a proposal directly against the token holders best interests.” He added: “This is a clear example of tokens not being equipped to adequately disincentivize governance attacks.” Read more
The USD1 stablecoin added $150 million to its market capitalization after Binance announced an incentive program offering up to 20% yield. The World Liberty Financial USD (USD1) stablecoin linked to the family of US President Donald Trump gained $150 million in market capitalization on Wednesday after Binance announced a yield program centered around the token. The stablecoin’s market capitalization climbed from $2.74 billion to $2.89 billion on Wednesday after Binance announced its “booster program,” offering up to 20% annual percentage rate (APR) on USD1 flexible products for deposits exceeding $50,000. The “first promotion” was designed to “help USD1 holders to maximize their rewards” and runs until Jan. 23, 2026, with passive yield for the bonus tiered APR distributed directly in Binance users’ earn accounts daily, according to the announcement. Read more