DEX

On May 12, 21shares launched the 21shares Hyperliquid ETF (Nasdaq: THYP), aiming to give U.S. investors spot exposure to HYPE with staking rewards. THYP posted $1.8 million in first-day trading volume and about $1.2 million in net inflows, and carries a 0.3% management fee. The issuer also introduced the 21shares 2x Long HYPE ETF (Nasdaq: TXXH) with a 1.89% management fee.

The Senate Banking Committee released an updated, 309-page version of its Clarity Act around midnight Monday and is planning a markup later this week. The text incorporates revised restrictions around stablecoin rewards and includes language aimed at protecting non-custodial software developers, while leaving unresolved debates over ethics provisions tied to federal officials' crypto interests.

Ink Finance and Renegade were hit by separate exploits on May 11 and May 10, losing a combined $349,000 across Polygon and Arbitrum. Ink Finance’s Polygon treasury contract was drained for about $140,000, while Renegade said roughly $209,000 was taken from its legacy V1 Arbitrum deployment and about $190,000 has been returned by a white hat.

Aster DEX said on May 11, 2026 that it has added perpetual futures tied to four major Hong Kong-listed stocks, enabling 24/7 long or short trading with up to 3x leverage via a crypto wallet. The exchange described the move as a step toward bridging traditional markets and DeFi, and it also pointed to earlier product and fee updates released around May 7, 2026.

Ledger on May 11, 2026 began a phased rollout of perpetual futures trading inside its hardware wallets through an integration with Yield.xyz, enabling access to Hyperliquid markets while users keep control of their private keys. The initial release is available to about 20% of Ledger users in selected regions, with staged expansion planned and access restricted in jurisdictions including the US and UK.

Renegade Fi suffered an exploit on Arbitrum after an attacker abused an unprotected initializer in its Dark Pool proxy contract to obtain privileged delegatecall access. The attacker drained nearly 27 ERC-20 tokens, including WBTC, PENDLE, LDO, CRV, RDNT, and SYNTHR, with losses estimated at roughly $209,000. The incident also prompted calls to revoke approvals and pause integrations to reduce exposure across connected proxy deployments.

Uniswap’s UNI continued its upswing, trading above $3.92 at press time as the protocol’s TVL rose to $3.59 billion, its highest level since Feb. 2. Derivatives metrics stayed supportive with the OI-weighted funding rate at 0.0060% over the past 24 hours and trading volume near $459 million, though liquidity pockets below price could still amplify pullbacks toward $3.60 if sentiment turns.

Hyperliquid, Pump.fun, and EdgeX distributed about $96.3 million to token holders over the past 30 days. The payouts highlight a market tilt toward protocols that generate measurable revenue and return cash flow to users instead of relying on hype or usage metrics.

DeepBook said its USDC margin pool became undercollateralized on May 9, creating about $239,700 in bad debt around 3:18 AM UTC. The protocol paused margin trading within minutes while spot CLOB trading continued, and it said an insurance fund restored affected balances with no user losses. The incident highlighted how liquidation delays can strain leveraged, shared-liquidity systems during sharp volatility.

TrustedVolumes, an Ethereum-based liquidity provider, said a hacker stole about $5.9 million on Thursday by exploiting a weakness in its custom order-settlement setup. The funds reportedly included 1,291 WETH, around 16.9 WBTC, roughly 206,000 USDT, and just under 1.27 million USDC. Both 1inch and Blockaid stated the 1inch protocol was not compromised and that no 1inch user funds were impacted.