Lido V2 live

Lido V2 has arrived with a bang. This mighty upgrade is set to revolutionize the Ethereum staking experience while also advancing the Lido protocol's decentralization journey.

Among its many features, Lido V2 boasts two critical components, the most prominent being Ethereum withdrawals. Thanks to this innovative addition, Ethereum stakers on Lido can now unstake their ETH directly via the protocol at a 1:1 ratio. This marks a key milestone for the Lido DAO and importantly holders of stETH and wstETH.

Ready to experience Ethereum withdrawals on Lido? Head over to stake.lido.fi/withdrawals and try it out for yourself. And for more information on the withdrawal process, the Lido Help Centre is just a click away. For more information on the protocol, you can read our comprehensive review of Lido.

Optimism Bedrock upgrade announced

The much-anticipated Bedrock release is set to unleash a storm of upgrades upon OP Mainnet, promising to shake things up like never before. Boasting a complete rewrite of an entire rollup stack, this massive overhaul is expected to be the largest upgrade ever released on OP Mainnet. And with a sharp focus on reducing fees and improving Ethereum compatibility, the benefits are sure to be felt far and wide.

The upgrade will require 2-4 hours of downtime for OP Mainnet, during which the old sequencer will be spun down, and the Bedrock sequencer will start up. This means that transactions, deposits, and withdrawals will be off-limits for a while, and the chain will come to a standstill.

Mattel unveils Fast & Furious NFT collection

As the latest Fast & Furious blockbuster races into theaters, the renowned toymaker Mattel is revving up to release the latest addition to its Hot Wheels NFT Garage Series on May 22. Set to reside on the Flow Blockchain, the Hot Wheels NFT Garage x Fast & Furious collection will showcase the iconic cars from the films, including the awe-inspiring 1970 Dodge Charger driven by Dominic Toretto, the sleek 1969 Camero of Brian O'Conner, and Suki's (played by Devon Aoki, sister of NFT mogul Steve Aoki) sporty Honda S2000 from 2 Fast 2 Furious. 

The limited edition NFTs will be available in packs priced at $20 each. With this latest venture into NFTs, Mattel has once again proven its ability to bridge the gap between the tangible and digital realms, as collectors can now own a physical die-cast version of Suki's car by collecting the entire set. Get ready to rev your engines and join the race to the finish line with this ultimate Fast & Furious drop!

US Court excludes 48,000 BlockFi users from $297 million payout

Once again, champions of decentralization are sounding the alarm for crypto enthusiasts to exercise prudence in storing their assets on custodial platforms. On May 11th, Judge Michael Kaplan, overseeing the bankruptcy case of insolvent crypto lender BlockFi, granted the return of $297M in assets to non-interest-bearing "Wallet" accounts belonging to customers. 

However, approximately 48,000 account holders who tried to withdraw $375M from interest-bearing accounts as the platform collapsed on November 10th were excluded from this verdict. In justifying his decision, Kaplan stated that those who opted for the interest-bearing accounts did so with full knowledge of the risks and potential rewards.

Ledger under fire for exposing seed phrases

The crypto community is in an uproar over a daring move by hardware wallet provider, Ledger. Their latest update has left many of their online users outraged, as they fear it exposes major security flaws. Although Ledger insists that the new function is safe and entirely optional, it has not stopped crypto holders and security experts from distancing themselves from the company. 

It all started when a Reddit user, Joe_Smith_Reddit, posed the question about a built-in backdoor for accessing users' private keys, causing widespread concern. The question was specifically aimed at Ledger's new "Ledger Recover" service, a subscription service for Nano X device holders, designed to help them recover their crypto in the event they lose both their wallet device and recovery phrase. As a user's private key, expressed in mnemonic form, the recovery phrase is a critical component of any crypto wallet.

Other breaking news

Wrapping up

That wraps it up, folks. Worrying developments in the Ledger camp have us wondering are users safe. Meanwhile, Lido V2 went live, the Optimism Bedrock upgrade was announced, and Matel is launching a new NFT collection have the crypto world buzzing. Keep an eye on the EU accepting MiCA and what comes next for crypto enthusiasts in the EU. Stay informed and ahead of the game with our daily crypto scoop. See you tomorrow!