Despite a quiet market, leading centralized exchanges are thriving through volume growth, innovation, and strategic pivots. This article ranks the top 10 crypto exchanges of 2025 so far and looks ahead to H2 catalysts.

Hours after a U.S.-Pakistan brokered ceasefire, Iran hit Saudi Arabia’s East-West Pipeline and Israel launched 100 airstrikes on Lebanon. Oil surges, Bitcoin eyes safe-haven flows amid fragile truce.

DeFi United, a cross-protocol bailout fund, has raised $160 million to cover Aave's bad debts from the KelpDAO bridge exploit on April 18. Mantle and Aave DAO contributed 55,000 ETH. The incident caused Aave TVL to drop $6-9 billion and broader DeFi losses exceeding $13 billion.

DeFi United has raised $160 million to address the bad debt from the KelpDAO bridge exploit that hit Aave V3 markets. The attack created up to $230.1 million in bad debts, and major contributors include Mantle and Aave DAO with 55,000 ETH.

In response to a KelpDAO bridge exploit causing up to $230M in bad debt on Aave, DeFi United raised $160M within 7 days. Mantle and Aave DAO contributed 55,000 ETH, marking the largest coordinated recovery effort in DeFi history.

On April 18, 2026, attackers exploited a KelpDAO bridge vulnerability to mint unbacked rsETH, depositing it into Aave V3 and borrowing heavily, creating up to $230.1M in bad debt. DeFi United, a cross-protocol bailout fund, raised $160M within a week, with major contributions from Mantle, Aave DAO, and Stani Kulechov.

Kraken announces the integration of Ink Foundation's Layer 2 protocol and INK token into its core platform, with a planned airdrop via its Drops program for eligible users. The move aims to bridge CeFi and DeFi, facing competition from early movers like Coinbase's Base.

Kraken announces integration of Ink Foundation's Layer 2 protocol and INK token, with an upcoming airdrop to eligible users, bridging CeFi and DeFi.