Everything web3, crypto, defi, degen
In brief Prometheum can custody a handful of tokens, but it’s now racing to support on-chain securities, founder and co-CEO Aaron Kaplan said. Kaplan testified on Capitol Hill in 2023 that the SEC had laid out a clear path to compliance for crypto firms. Some tokenized offerings resemble gambling, Kaplan argued. Tokenization could revolutionize finance,…
In brief Altcoins are falling hard Wednesday following a recent surge in prices for Ethereum, XRP, and more. Glassnode reports that altcoin open interest hit a new all-time high, skyrocketing since the start of July. That growth in derivatives trading may result in more volatility, which could explain the dip. The recent crypto market euphoria…
In brief American Bitcoin miner MARA is raising more money to buy BTC for its treasury. Nasdaq-listed MARA will raise $850 million via a private sale of senior convertible notes. The company has a strategy of not selling its crypto holdings. Top Bitcoin miner MARA, formerly known as Marathon Digital, is planning to raise $850…
In brief After pulling in $2.5 billion over the first 10 months since launch, Ethereum ETFs have attracted $5 billion since mid-May alone, signaling accelerating institutional demand. Analysts note that price momentum is lagging behind institutional inflows. While the long-term outlook remains bullish due to institutional adoption, one analyst is positioning for a potential short-term…
PENGU & REKT ALL TIME HIGHS, HUGE ETH ETF INFLOWS, BNB OUTPERFORMS MARKETCrypto majors slightly red with BNB outperforming and hitting new ATH. ETH ETFs see 3rd biggest day of inflows while BTC sees net outflows. Coinbase partners with PNC for Crypto-as-a-Service model. Goldman and BNY to offer tokenized money market accounts. PENGU and REKT…
In brief BNY Mellon and Goldman Sachs are working together on a tokenized money market fund (MMF) product. The product will allow fund managers to subscribe to MMF shares that earn a tokenized representative. The goal is to unlock utility and transferability of MMF shares. Publicly traded financial giants BNY Mellon Corporation and Goldman Sachs…
In brief Ethereum has significantly outpaced Bitcoin in recent months, with a 67% gain against Bitcoin’s 18% in the last month alone. The gap between Ethereum and Bitcoin ETF inflows is converging, dropping from 45 times to just 1.6 in the past four months. Analysts anticipate Ethereum soaring past $8,000, driven by institutional adoption, regulatory…
In brief DigitalX purchased 74.7 BTC for $8.8 million at an average price of $117,293. It now holds nearly 500 BTC across direct and ETF holdings. A growing number of firms are also adding Bitcoin to their balance sheets. DigitalX has ramped up its Bitcoin holdings with the acquisition of 74.7 BTC, worth approximately US$8.8…
In brief SEC staff greenlit Bitwise’s ETF on Tuesday, but it was immediately paused under a discretionary review rule. Grayscale’s GDLC faced the same setback earlier this month. It then responded with a legal warning. ETF Institute co-founder Nate Geraci called it a “bizarre situation” as procedural uncertainty clouds ETF conversions. The SEC halted another…
In brief Analysts at Compass Point downgraded shares of Circle (CRCL) to a “sell” rating. The analysts cited increased stablecoin competition, Fed rate cuts, and waning retail participation as potential negative catalysts. Shares closed down more than 8% on Tuesday, now off around 34% from its all-time high of $298.99. Shares of stablecoin issuer Circle…
