It was a busy week in Crypto with important product launches, the fever debate around Ethereum, movement about stablecoin legislation and high-profile congressional hearings on “Debanking.”
David Sacks, Crypto and AI Czar, held a high-profile press conference with Senate’s leadership when Senator Hagty from Tennessee introduced a new stablecoin bill. The proposal that outlines a supervisory regime for stablecoin issuing is based on a bill that passed parliament last year but fell into the Senate. It is more likely to pass this year now that Republicans are in control. Coindesk’s Jesse Hamilton had the news.
The Senate also held hearings about the coordinated policy of institutions such as FDIC to deny financial services to cryptic businesses in the Biden years (alias Debanking). Nathan McCauley, CEO Anchorage Digital, an institutional custodian, testified (and also wrote about his experience at Coindesk). Consensys founder Joe Lubin said his company had also been turned down double, Ian Allison reported.
Ondo Finance introduced a new tokenization blockchain, in readiness to an expected wave of institutional interest in RWAS. Kris Sandor and Helene Braun had the story. Trump-backed World Liberty Financial immediately bought $ 470,000 value from Ondo, the platform’s management token. Kris Sandor and Francisco Rodrigues reported it.
This week’s second big launch came from Berachain, which debuted with a mainnet and a 79 million-strong air drop, Shaurya Malwa reported. At the time of writing, Bera’s market capital was already more than $ 800 million. Shaurya also provided a prescient analysis of the XRP price, far ahead of its decline by analyzing trading patterns. Meanwhile, Michael Saylor’s microstratey redirected and dropped “micro” but not the obligation to buy as much bitcoin as possible. Soon James Van Straten reported that Blackrock had taken a 5% ownership of the company.
News about Ethereum was less rose red, as has been the case for a few months now. JPMorgan said Ether has underpinned because of competition from rivals like Solana and because it lacks a compelling tale (like Bitcoin), Will Canny reported. But Ethereum went on on his pectra upgrade, and its cheerleaders run deep, even on Wall Street, said Margaux Nijkerk. So better days can be ahead (Eric Trump tweeted definitely an endorsement).
Bitcoin is called by some “digital gold”, but outside that, the actual precious metal also moves cryptocurrencies. Gold’s historic race has seen prices surpass the traditional market and take gold -supported crypto with it. Francisco Rodrigues highlighted how and why tokens like Paxg and Xaut were among the best priesting tokens this year, and even surpassed the “digital gold” because of the gold goal.
Finally, in an important case for the Internet -Privat Life, Alexey Pertsev, one of the developers of Tornado Cash, an Ethereum mixer, was released from prison pending an appeal. He had been sentenced to 64 months within last year. Happy weekend, all together.
