Kelp DAO claims LayerZero’s 'default' settings are what actually caused the massive $290 million disaster
CoinDesk·60-word summary·1 min read
Kelp DAO blames LayerZero’s default settings for a $290 million disaster, claiming the compromised verifier was part of LayerZero’s infrastructure. The liquid restaking protocol states that LayerZero’s onboarding default setup was responsible for the security breach, which led to significant losses. The incident highlights vulnerabilities in LayerZero’s infrastructure and default configurations.
Marvell reported record fiscal 2026 revenue of $8.2 billion, up 42% year-over-year, driven by a 46% increase in data center sales. Google is in talks with Marvell to develop AI chips, including a new TPU design. The company sold its automotive Ethernet unit to Infineon, emphasizing its AI infrastructure focus.
In 2026, Microsoft reported a 17% revenue increase with Azure cloud services growing 39%. Nvidia’s fiscal 2026 revenue surged 65% to $215.9 billion, with EPS up 67%. Broadcom’s revenue grew 28%, and Arista Networks saw a 29% revenue rise. These companies are among the top cloud infrastructure stocks analysts are monitoring this year.
Toshi.bet secured an Anjouan gaming license and launched a $100,000 World Cup prediction game in 2026. The platform has reached $10 billion in total volume while maintaining its no-KYC and instant withdrawal features. These milestones have helped Toshi.bet rank among the top crypto casinos this year, reinforcing its position in the Web3 gaming infrastructure space.
Economist concerns about AI's impact on jobs are rising, with the New York Times highlighting the shift. In February, Jack Dorsey reduced Block’s workforce by 40%, citing AI tools transforming business operations. Despite the layoffs, Block’s stock increased, reflecting investor optimism about AI-driven innovation and future growth in the Web3 infrastructure sector.
AI agent tokens are crypto assets linked to autonomous AI agents, shifting focus from infrastructure to individual bots. These tokens represent specific agents capable of content generation and management. As AI agents become more advanced, their tokens could influence decentralized AI ecosystems, marking a new development in blockchain-based AI applications.
Australian lawmakers passed the Corporations Amendment Bill, establishing a new Public Digital Token Infrastructure (PDTI) category on April 20, 2026. This allows firms offering decentralized Real World Assets (RWAs) without custodial control or private keys to operate without a settlement license. The move aims to boost non-custodial tokenization services and foster innovation in Web3 infrastructure.
