Together with |
|
GM Defiers! |
Ethena's yield-bearing USDe stablecoin continues to simultaneously make waves and garner controversy within the crypto community. Prominent figures are debating the potential risks posed by its novel strategy for yield generation, with some fear holders could be hurt in a bearish downturn. Ethena also added support for Bitcoin as a collateral asset backing USDe. |
In other news, Bitcoin short positions are piling up, PayPal's cross-chain remittance platform now supports PYUSD, Frax stakers will earn $400,000 from this week after fee switch activation, BONSAI sets sights on Farcaster adoption, and Web3Firewall raised $2.5 million. |
Plus, BlackRock expanded the Authorized Participants for its Bitcoin ETF, including the likes of Goldman Sachs, Citadel Securities, and UBS Securities. |
✍️ In today's newsletter: |
Onlookers debate USDe risks Ethena onboards BTC as collateral Bitcoin shorts pile up Xoom supports PYUSD remittances Frax activates fee switch BONSAI targets Farcaster adoption Web3Firewall raises $2.5M IBIT onboards Authorized Participants
|
🙏Sponsored |
|
📈 Markets in the last 24 hrs: |
| TICKER | VALUE | 24 H |
|---|
| Bitcoin | $67,934 | 2.74 % | | Ethereum | $3,316 | -0.01 % | | Gold 1st Future | $2,289 | -0.24 % | | S&P 500 | 5147.21 | -1.23 % | | Arch Web3 | 2.74 | 1.00 % | | Learn more about Arch Indices here. | |
|
| | | | 🎬 WATCH | Check out our guide to earning memecoins using Farcaster and Drakula. Also, watch our podcast with TN Lee, the founder of Pendle, to learn about the innovative yield tokenization protocol. |  | 💸 Earn Memecoins ($DEGEN) For FREE | Farcaster & Drakula Tutorial |
|
|
| |
| | |
|
|
THANKING OUR NEWSLETTER SPONSORS |
| NEWSLETTER CONTINUES BELOW | |
|
NEAR is the chain abstraction stack, empowering builders to create apps that scale to billions of users and across all blockchains. |
|
|
DeFi Saver is an all-in-one management dashboard for decentralized finance protocols, with more powerful interfaces, trading features and automation options for Aave, Compound, Curve, Spark, Morpho Blue & more. |
|
Summer.fi is a platform for decentralized finance, to borrow stablecoins against users' favorite cryptocurrencies, increase exposure against them, or Earn a competitive yield. All of this across multiple protocols and Layers. |
|
|
|
Ethena's USDe stablecoin is igniting concern from prominent actors in crypto as surging adoption, including from DeFi protocols, pushes its market cap past $2 billion. With the token promising double-digit yields from Ethereum staking rewards and short funding rates, onlookers fear holders could take a hit in the event of a sustained bearish downturn. |
|
|
Ethena is seeking to bolster USDe's growth despite ongoing scrutiny, with the project adding Bitcoin as a collateral asset. The move paves the way for USDe providing yield from Bitcoin funding rates, potentially increasing both the token's rewards and risk profile. |
|
|
The crypto markets are trading sideways despite whales opening large short positions. However, the influx of short positions may result from sophisticated speculators entering basis trading strategies designed to profit from high funding rates for shorts. |
|
|
PayPal's remittance subsidiary Xoom, now supports fee-free USD to PYUSD conversion across 160 countries. The news comes amid increasing competition within the stablecoin space, with Ripple announcing plans to launch a new stable token. |
|
|
| | | | | EAST Blue is a "Bitcoin Super App" designed to facilitate mass adoption of Bitcoin. It provides a user-friendly interface to manage Bitcoin transactions on layer 1 and layer 2 solutions. We offer real-time portfolio tracking and insights into innovative Bitcoin projects. By consolidating key Bitcoin services into a unified platform, EAST Blue aims to streamline interactions with the expanding Bitcoin ecosystem for mainstream users. | Learn how NEAR Protocol's Chain Abstraction will fuel an entire ecosystem built around native Bitcoin |
| |
| | |
|
|
|
Frax is set to distribute nearly $400,000 in fee revenue to FXS stakers this week in addition to buying back $400,000 worth of FXS. The moves follow Frax's community passing a proposal to activate a revenue-sharing "fee switch" last weekend. |
|
|
MadFi, the team behind the BONSAI memecoin, raised $1 million in an angel round. The team is hoping that its token will become a leading currency on Lens, a leading decentralized social protocol, following in the footsteps of the recently surging DEGEN memecoin. |
|
|
Web3Firewall, a crypto security service leveraging artificial intelligence and machine learning, raised $2.5 million from Laser Digital, a subsidiary of the banking giant, Nomura. The project aims to quickly identify malicious transactions and other threats by harnessing AI. |
|
|
BlackRock has added five new Authorized Participants for its spot Bitcoin ETF, IBIT spanning leading tradfi institutions. Goldman Sachs, Citadel Securities, UBS Securities, Citigroup Global Makers, and ABN AMRO are now able to create and offer IBIT shares to investors. |
|
🌍 ELSEWHERE |
EU Watchdog Says Reordering Blockchain Transactions Might Be Market Abuse. Industry Says It's Not (CoinDesk) Uniswap hits a historic $2 trillion in trading volume (The Block) The First Australian Spot Bitcoin ETF Could Launch Mid-Year (Bitcoin Magazine) FTX Estate Raises Up to $1.9 Billion in Sale of Solana at Deep Discount: Report (Unchained)
|
|
🔥 TRENDING |
|
|
Hello guys and welcome to my blog, I tried to find one working faucet collector crack and here it is. Just download this crack, install d...
No comments:
Post a Comment