29 March 2024
Macro/TradFi
The London Stock Exchange is gearing up to introduce a market for exchange-traded notes (“ETN”) for Bitcoin and Ethereum, targeting May 28 as the proposed date.
BlackRock CEO Larry Fink has reaffirmed a strongly bullish outlook on Bitcoin's long-term prospects, highlighting that their spot BTC ETF, IBIT, has become the fastest-growing ETF in history.
HSBC has introduced tokenized gold products for retail clients in Hong Kong, becoming the first bank to create a blockchain-based real-world asset (“RWA”) aimed at the retail marketplace.
Crypto
L1/L2:
The Fantom Foundation is preparing to launch Sonic, the successor to Opera, with a release slated for late summer or early fall. Sonic aims to process 2K TPS and will also serve as a shared sequencer for other Layer 1 and Layer 2 chains.
Near has launched Chain Signatures to enable multichain transactions, granting users the ability to interact with multiple blockchains using their Near account.
Optimism has set aside 850M OP tokens for upcoming rounds of its Retroactive Public Goods Funding (“RPGF”) program, aimed at incentivizing on-chain contributions within both the Optimism network and the Superchain.
DeFi:
Ondo Finance has allocated US$95M of its assets to BlackRock's recently launched tokenized fund, BUIDL, with total assets under management (“AUM”) now over US$270M.
DeFi lender TrueFi announced plans to launch a RWA lending platform named Trinity, aimed at enhancing the utility of its tokenized U.S. Treasury offering. Trinity will enable users to secure crypto loans using tokenized RWAs as collateral.
Ethena, issuer of the synthetic dollar USDe, announced the launch of its governance token next week. Ethena plans to distribute 750M ENA tokens, constituting 5% of its total supply.
bitSmiley has introduced bitCow, a Bitcoin-native AMM focused on stable swaps and automated concentrated liquidity.
Stablecoin:
Tether is branching out into artificial intelligence (“AI”), aiming to enhance the accessibility and efficiency of AI. The company's AI endeavors will focus on creating open-source, multimodal AI models and establishing new industry standards.
Circle has partnered with Solana to integrate its cross-chain transfer protocol (“CCTP”) into the Solana blockchain ecosystem.
Other:
Major AI protocols, SingularityNet, Fetch, and Ocean Protocol, are set to merge through a community vote, with an estimated value of $7.5B. The merger will establish the Artificial Superintelligence Alliance, introducing the ASI token to serve as the reserve currency.
DePIN Layer 1, peaq, raised US$15M in pre-launch funding led by Generative Ventures and Borderless Capital. The funding will be used to expand the peaq ecosystem ahead of its mainnet launch.
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