Bitcoin breached $88,000 after dipping earlier in the week, sliding to a weekly low of $86,561 before rebounding above $88,600, according to TradingView. Spot Bitcoin ETF demand remained weak, with about $175 million in outflows on Wednesday, marking the fifth straight day of net redemptions, per Farside Investors.
In the wider crypto space, members of the Aave community criticized the decentralized lending and borrowing protocol over what they described as a premature push to advance a governance proposal concerning brand asset ownership. The proposal sought to return control of the protocol’s brand assets and intellectual property to a DAO-controlled entity, but it was rejected on Friday by a majority. Snapshot results showed 55.29% voting NAY, 41.21% abstaining, and only 3.5% of voters supporting the proposal. The proposal asked whether Aave token holders should regain control over Aave’s domains, social handles, naming rights and other intellectual property through a decentralized autonomous organization.
Supporters framed the move as a step toward decentralization and clarifying questions about brand stewardship. Ultimately, the rejection closed a tense governance episode for one of DeFi’s largest lending protocols, illustrating how timing, escalation and participation can shape outcomes in a DAO.
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