Bitcoin Price: US$ 59,506.86 (-5.40%)
Ethereum Price: US$ 2,457.33 (-8.33%)
Ondo Finance has expanded its USDY yield token, which offers up to a 5.35% annual return on stablecoins backed by bank deposits and treasury bills, to the Arbitrum network, making it available across eight blockchain networks. Simultaneously, Circle’s Noble-CCTP on the Cosmos network identified and fixed a critical bug that could have allowed the minting of fake USDC tokens, averting any loss of funds. Meanwhile, U.S. Representative Mike Collins disclosed significant investments in altcoins VELO, The Graph, and AERO while in Congress, sparking ongoing debates over lawmakers’ crypto investments and recent calls to amend the STOCK Act to prevent potential conflicts of interest.
Vitalik Buterin and the Ethereum Foundation provided a detailed breakdown of their 2023 spending, revealing that the largest expenses were dedicated to supporting new institutions within the Ethereum ecosystem and Layer-1 research. Meanwhile, Buterin responded to accusations of being “anti-DeFi” by emphasising his commitment to sustainable projects over short-term schemes. In Argentina, the Ethereum Foundation and ETH Kipu hosted a workshop to teach high school students about blockchain, with plans to introduce internships and online courses in Solidity. The Chicago Mercantile Exchange (CME) announced the launch of bite-sized Bitcoin Friday futures, designed to appeal to retail investors by offering contracts at one-50th of a Bitcoin. The Iota Foundation completed the final phase of the EU’s blockchain Pre-Commercial Procurement, positioning itself to contribute to the next generation of blockchain infrastructure in Europe.
Nasdaq is seeking SEC approval to launch Bitcoin index options, providing institutions and traders a new way to hedge Bitcoin exposure through the CME CF Bitcoin Real-Time Index, coinciding with a significant inflow into BlackRock’s spot Bitcoin ETF, which underscores growing investor interest despite challenges in the broader crypto market. At the same time, Ethereum whales are accumulating large amounts of Ether, signalling a potential price bottom, with analysts predicting a possible rally if key resistance levels are surpassed. Meanwhile, the Maker protocol has rebranded to Sky, introducing the USDS stablecoin and SKY governance token to simplify and expand DeFi access while maintaining a focus on decentralisation and community governance.
The market capitalisation of AI and big data cryptocurrency tokens has surged by nearly 80% to $32 billion over the past three weeks, driven by renewed investor confidence as these tokens followed Bitcoin’s price recovery. At the same time, New Zealand’s government introduced a new tax bill requiring crypto service providers to report user data to ensure proper taxation of crypto earnings, with penalties for noncompliance. Simultaneously, Coinbase’s layer-2 network, Base, has experienced a significant increase in daily active addresses, surpassing 1 million, fuelled by the launch of its “basenames” service, which allows users to register names tied to their wallet addresses, contributing to a surge in network activity.
Source: https://cointelegraph.com
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