LayerZero said that Kelp’s DVN setup caused the $290 million exploit, as investors questioned which protocol would step up to cover the shortfall.

Bitcoin surged above $77,000 as oil futures fell 10% after Iran’s foreign minister declared the Strait of Hormuz open for the remainder of the ceasefire between the US, Israel and Iran.

The crypto infrastructure company said its new wallet lets users buy, sell, swap and cash out digital assets in one app without relying on outside providers.

Bloomberg reported Flow Capital plans to tokenize its private credit fund to raise additional capital, but crypto execs warn tokenization doesn’t magically make hard-to-trade assets liquid.