Arbitrum Pushes to Release $71M in Frozen ETH for Kelp Recovery

CoinDesk reported on April 26 that Arbitrum is seeking to unfreeze $71 million worth of Ethereum to support a recovery plan tied to Kelp. Aave and Kelp are also pressing for the release of the same $71 million in ETH as part of efforts to backstop rETH. In related fallout, Aave raised $160 million to cover bad debts stemming from a vulnerability involving Kelp DAO. On the ETF front, BlackRock's spot Bitcoin ETF has options open interest totaling $27.61 billion. Morgan Stanley's Bitcoin ETF has attracted $184 million in cumulative inflows, with no outflows reported so far. U.S. spot Bitcoin ETFs posted net inflows of $1.9 billion over the past seven days, helping push Bitcoin toward $80,000 as aggregate ETF inflows approached $2 billion. Regulatory tensions also intensified after the CFTC sued New York, signaling an escalation in oversight-related disputes. Separately, a New York Times investigation said Elon Musk treated SpaceX as a "piggy bank" for nearly 20 years, borrowing $500 million at interest rates less than half those offered by banks. Bitcoin dipped below $78,000 after reports that Donald Trump canceled a trip to Pakistan.