Author: Coindesk

It seems increasingly unlikely that Congress will actually pass a legislation, which addresses the woes of the crypto industry in the near term. As a result, the industry’s growing strategy of looking for court victories may well be the right one, so to speak – if federal judges, appeals courts, and (I’m guessing) the U.S. Supreme Court start to create case law for companies and regulators to use, that will be one way of securing what the crypto industry calls regulatory clarity. Read the full article here

The research project, titled Regulated Settlement Network (RSN) proof-of-concept (PoC), will explore the potential of bringing commercial-bank money, wholesale central-bank money and securities such as U.S. Treasuries and investment-grade debt to a common regulated venue, according to a statement shared with CoinDesk. Read the full article here

Bitpanda’s deputy CEO Lukas Konrad says the European Union’s promise of regulatory clarity is translating into adoption: the Raiffeisen partnership, which kicked off several months ago for customers in the capital city Vienna, has seen an adoption rate of 10%, with new investors buying mainly large-cap cryptocurrencies like bitcoin and Ethereum tokens, he said. Read the full article here

One notable difference in Sui’s points program is its reliance on blockchain tech, Rooter said. In an interview with CoinDesk, Rooter said the points earned by users for, say, depositing USDC will be recorded on the blockchain, where other smart contracts can digest the data. Read the full article here

Bankrupt cryptocurrency exchange FTX has proposed a new reorganization plan that would see a whopping 98% of its creditors get back 118% of their claims – in cash – within 60 days of court approval, according to new documents filed Tuesday evening. Read the full article here

“Crypto ETFs provide a means for investors at all levels to enter into the world of digital assets through a regulated and government-endorsed investment vehicle,” said Wintermute CEO Evgeny Gaevoy. “[They] play a key role in bringing the next wave of investors into the crypto space, both institutional and retail … Increasing access to digital assets will play a critical function in further accelerating growth, and Wintermute is excited to play a key role in that process.” Read the full article here

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CoinDesk 20 tracks top digital assets and is investible on multiple platforms. The broader CMI comprises approximately 180 tokens and seven crypto sectors: currency, smart contract platforms, DeFi, culture & entertainment, computing, and digitization. Read the full article here

The protocol’s USDe token, often referred to as “synthetic dollar” instead of a stablecoin, is a structured finance product wrapped in a token. It offers steady yields to investors by using ETH liquid staking derivatives such as Lido’s stETH as backing assets, pairing them with an equal value of short ETH perpetual futures position on derivatives exchanges to keep anchored at $1 price. This strategy is also known as a “cash and carry” trade, which harvests derivatives funding rates for a yield. Read the full article here

The previous quarter saw the RWA market grow by leaps and bounds. Tokenized Treasury bills including BlackRock’s USD Institutional Digital Liquidity Fund, Superstate’s Short Duration US Government Securities Fund, and Ondo’s USDY grew by an impressive 41% to nearly $1.3 billion, driven by significant institutional interest and innovative product launches. Let’s recap the key developments and trends in the sector. Read the full article here