redemption

Blockchain credit infrastructure company Grove has launched a liquidity network called Basin, which can initially provide up to $1 billion in stablecoin liquidity daily to support instant redemptions for tokenized U.S. Treasury funds such as BlackRock BUIDL and Janus Henderson Anemoy Treasury Fund (JTRSY).

According to on-chain analyst Yu Jin (@EmberCN), the suspected investment fund address gammafund.eth redeemed 5,555 ETH from ether.fi about 6 hours ago, worth approximately $12.53 million, and transferred it to Binance.This address previously purchased 11,215 ETH in March of this year at a price of about $1,999, totaling approximately $22.42 million; based on the cost corresponding to this transfer, it has an unrealized profit of about $2.87 million. In addition, this address currently has about 5,500 ETH still in the redemption application, which may be completed next week.

According to BBX data, this week (as of May 12), Bitcoin corporate reserves continue to expand, and institutional-level ETF product monthly performance data has been released. The core dynamics are as follows:Strategy, Inc. (NASDAQ: $MSTR) submitted Form 8-K to the SEC on May 11, disclosing that the company purchased an additional 535 BTC, totaling approximately $43 million, with an average price of about $80,340; as of May 11, the total holdings increased to 818,869 BTC, with a total acquisition cost of approximately $61.86 billion (average price $75,540), and a BTC yield of 9.4% since the beginning of 2026. Of the funds used for this round of purchases, $42.9 million came from MSTR ATM equity financing, and $1 million came from the STRC preferred stock program; this purchase of 535 BTC is significantly lower than last month's peak (an increase of 34,164 BTC in the week of April 13-19), but it still maintains the purchase after the company's Q1 financial report hinted at the possibility of selling BTC to pay dividends, thereby endorsing the "firm holding" position with actual actions.Morgan Stanley (NYSE: $MS) launched the Morgan Stanley Bitcoin Trust (NYSE Arca: $MSBT) on April 8. According to a report by CryptoSlate on May 10, $MSBT recorded zero net redemptions in its first full trading month after launch, with assets under management maintaining positive growth from the first day; meanwhile, the overall U.S. Bitcoin spot ETF has recorded net positive inflows for six consecutive weeks, with a cumulative net inflow of $2.44 billion in April, and daily average inflows continuing to be positive since May. $MSBT entered the market with a management fee rate of 0.14%, making it the lowest fee Bitcoin spot ETF currently available; the zero net redemption data for the first month marks the establishment of preliminary stable demand for this product among Morgan Stanley's wealth management client network, interpreted by institutional analysts as an early signal of large-scale access to the Bitcoin ETF ecosystem through traditional wealth management channels.

According to Onchain Lens monitoring, the Ethereum Foundation redeemed 21,271 ETH from the Lido stETH withdrawal contract, worth approximately 49.66 million USD.

The GnosisDAO community has released a proposal to "allow GNO holders to proportionally redeem their entitled treasury shares." The proposal aims to allow GNO holders to exchange their tokens for a proportionate share allocated from the GnosisDAO treasury. Non-participants will retain their GNO and continue to enjoy all economic rights brought by the ongoing operations of the DAO, with liquidity and semi-liquid treasury assets distributed based on net asset value.Illiquid off-chain investments and enterprise value will be handled through the synthetic gLTD-CLAIM, which grants participants a fixed proportion of future dividends from the aforementioned asset pool once the capital deployed by the DAO exceeds the principal recovery threshold after redemption. The redeemed GNO will be burned, thereby permanently reducing the effective circulating supply.As of the time of publication, the current opposition rate for this proposal is 64.81%.

Gnosis DAO is conducting a Snapshot vote proposing to allow GNO holders to proportionally acquire shares of the DAO treasury through a voluntary redemption mechanism. According to analyst Ignas, the treasury holds approximately $223 million in assets (including ETH, stablecoins, and ecosystem tokens), with about 1.3 million GNO eligible for redemption, each corresponding to about $170 in treasury value, while the current trading price of GNO is around $132, representing a discount of about 27%.The vote reversed twice within 24 hours: after Gnosis co-founder Stefan George cast a dissenting vote, the situation briefly turned, but then a whale wallet holding 67,000 GNO cast a supporting vote, putting the supporters back in the lead. Currently, about 116,000 GNO are in favor (about 65%), 59,600 against, and 1,600 abstentions, surpassing the quorum threshold of 75,000 votes, with voting continuing until May 12.Supporters believe that Gnosis Ltd. has become a funding black hole structurally misaligned with the interests of holders, while opponents warn that redemption will weaken projects with actual users such as Gnosis Pay, Circles, and Gnosis Chain, and may trigger a chain reaction for other DAOs trading below net asset value.

The official announcement from the stablecoin platform Reserve on Ethereum states that they are closely monitoring the attack on the Kelp DAO's LayerZero bridge. Currently, it is assessed that Reserve DTF holders will be almost unaffected. If rsETH on the mainnet is significantly devalued (potentially requiring a 15.5-18.5% depreciation), Aave may incur bad debts, which could in turn affect the USDC collateral in Aave V3.RSR stakers in the Reserve protocol USD3 and eUSD may provide protection as "first loss capital," but the impact is minimal, and the RSR over-collateralization is sufficient to cover it.ETH+ and bsdETH contain no rsETH collateral, posing zero risk. As a precaution, Reserve has temporarily suspended the minting, rebalancing, and RSR unbonding of eUSD and USD3. The redemption function remains open as normal, and if users require RSR over-collateralization protection, it is recommended to continue holding.

The DeFi protocol Fluid officially announced the launch of the aWETH redemption protocol. Due to the ETH utilization rate on the Aave platform reaching 100%, many borrowers are currently unable to withdraw funds, and they will face increasing risks if the market fluctuates. The aWETH redemption protocol will allow ETH borrowers to: • Redeem for wstETH or weETH • Immediately restore liquidity • Reduce liquidation risk.If users only borrow ETH, they can fully redeem it. If users have ETH collateral and other debts, the collateral will be seamlessly converted to wstETH or weETH, while the debt remains unchanged. Fluid is collaborating with Lido Finance, EtherFi, and other ecosystem partners to reduce systemic risks in DeFi, alleviate usage pressure, and support a healthier DeFi market. The initial capacity limit of the protocol is set at $1 billion in ETH.

The savings-type stablecoin project Buck announced that it is gradually ending the operation of the Buck protocol and tokens to make room for future projects. All holders will receive a 100% principal refund. The support for STRC and USDC remains valid and is over-collateralized, and the redemption channel is now open. The team will keep the redemption window open until all holders have completed their redemptions. The team stated that they are fully committed to new projects.

Singapore Gulf Bank (SGB) announced the launch of stablecoin minting and redemption services, allowing businesses and high-net-worth clients to directly convert between fiat currency and stablecoins through SGB accounts, achieving real-time settlement around the clock without relying on traditional intermediary banking processes.This service is integrated into SGB's proprietary clearing network SGB Net, supporting seamless flow of funds both on-chain and off-chain. The first supported stablecoin is USD Coin (USDC), with a minimum transaction amount of $100,000, and it will subsequently support USDT, USDe (Ethena), and Global Dollar (USDG).

The second round of Binance Alpha SOON airdrop is now live. Users with at least 242 Binance Alpha points can claim 280 SOON tokens on a first-come, first-served basis. If the reward pool is not fully allocated, the points threshold will automatically decrease by 5 points every 5 minutes.Please note that claiming the airdrop will consume 15 Binance Alpha points. Users must confirm their claim on the Alpha Events page within 24 hours; otherwise, it will be considered that the user has forfeited the airdrop.

The Federal Deposit Insurance Corporation (FDIC) has proposed a new rule draft to regulate stablecoin issuers within its jurisdiction according to the GENIUS Act, covering requirements related to reserves, redemption, capital, risk management, and custody.The FDIC stated that the relevant reserve deposits will be insured, but this protection does not directly cover stablecoin holders. At the same time, the regulatory agency has sought public opinion on the details of the rules, with a comment period of 60 days. This proposal is a further measure to implement the GENIUS Act, and the relevant regulatory framework is expected to be gradually improved.

According to official news, Agora announced that starting from April 3, 2026, it will gradually stop the issuance and support of AUSD on the Injective network. According to the latest adjustments, no new AUSD will be minted on Injective from today, and AUSD held on this network will no longer earn any rewards. However, users can still redeem AUSD at a 1:1 value, and the redemption window will last until September 28, 2026. This adjustment only applies to the Injective network and does not affect the operation of AUSD on other chains.Regarding the redemption process, Agora stated that its clients can complete the operation through their account contacts. Users only need to send AUSD on Injective to the official channel, and the platform will assist in converting it to AUSD on the user-specified chain or exchanging it for US dollars and other supported stablecoins. The official emphasized that September 28, 2026, is the standard redemption deadline, and after that, remaining assets can still be processed, but may require additional KYC verification processes and related fees.Agora pointed out that this decision stems from its regular evaluation mechanism for multi-chain deployment, with key considerations including actual usage, ecosystem health, and infrastructure costs. After a comprehensive assessment, Agora decided to strategically shrink the AUSD business on the Injective network to optimize resource allocation and improve overall operational efficiency.

Institutional-grade digital asset custody service provider BitGo has officially launched the BitGo Mint service, allowing institutional clients to mint, redeem, and manage stablecoins and other digital assets within a unified workflow.The service initially supports USD 1 issued by World Liberty Financial, as well as SoFi USD issued by SoFi Bank, which is regulated by the OCC and insured by the FDIC. BitGo had previously provided infrastructure support for these two stablecoins at the end of last year.

The Cosmos ecosystem project Neutron announced that NTRN redemption is now live, allowing holders to permanently burn their NTRN in exchange for a proportionate share of the USDC pool.The NTRN deposit window is from April 1 to April 30, with USDC redemption applications opening on May 1 and closing on June 30. The NTRN held by the foundation (estimated at about 32.4 million) will not participate in the redemption and will be burned.Previously, the Cosmos ecosystem project Neutron announced it would transition to a long-term maintenance mode. The DEX and Supervault will be suspended and enter withdrawal-only mode by April 17 at the latest, with Hadron Labs responsible for network maintenance until June 30, 2026, after which a manual withdrawal guide will be released. Governance will transition from a custom system to a standard Cosmos staking model, inflation will be dynamically adjusted, and the validator set will be reduced.

According to official documents, Morgan Stanley has submitted an S-1/A amendment for its Bitcoin spot ETF "Morgan Stanley Bitcoin Trust" (MSBT). The document reveals that the trust has raised $1 million in seed funding by selling 50,000 seed shares at a price of $20 per share.The ETF will explicitly support both cash and physical subscription and redemption models. The disclosed authorized participants, in addition to the usual Virtu Americas and Jane Street, also include Macquarie Capital. Furthermore, Coinbase Custody and Bank of New York Mellon (BNY) jointly serve as Bitcoin custodians, with Bank of New York Mellon also acting as the manager, cash custodian, and transfer agent. The trust is required to pay a fixed trustee fee of $20,000 per year and will not participate in any Bitcoin forks or airdrops.

The asset management giant BlackRock has begun to limit withdrawals from a private credit fund with a size of approximately $26 billion due to an increase in redemption requests, raising concerns about the spillover of pressure in the global private credit market.Analysts warn that tensions in this sector could transmit to the crypto market through two channels: macro deleveraging and tokenized credit products. If private credit funds are forced to deleverage or liquidate assets, it could trigger a chain reaction among broader risk assets, affecting crypto assets including Bitcoin.