🔝😎 BlackRock Tops Crypto ETF Market
In today’s edition: 🔧 Optimism to hard fork following security audits, 📉🫣 Ethena struggles in market downturn, and more!
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What’s Poppin’?
by Juan Aranovich and Sam Sriram
BlackRock’s Spot Crypto ETFs Overtake Grayscale’s Assets
BlackRock, the world’s largest asset manager, is now also the largest crypto ETF fund manager after IBIT and ETHA’s AUM surpassed Grayscale’s funds.
Optimism Plans Layer 2 Hard Fork After Security Audits
“While the auditors did discover some high severity issues, no user assets were ever at risk,” said OP Labs in an upgrade proposal.
Why Ethena Has Been One of the Biggest Losers In the Recent Market Correction
Ethena faces challenges as negative funding rates slash yields, contributing to a $500 million drop in the supply of USDe amid broader market turmoil.
Daily Bits… ✍️✍️✍️
🛑 MakerDAO voted to stop borrowing against Wrapped Bitcoin (WBTC) and reduce its WBTC vault debt ceilings to zero, following concerns over the asset's custodian, Bitgo, transferring control to a joint venture involving Justin Sun.
📱Google faces a lawsuit from a Florida woman who claims she lost over $5 million to a scam crypto app from the Google Play Store, alleging that the app remained active for three months despite complaints.
🌍 The IMF proposed implementing energy taxes on crypto miners and AI data centers to curb carbon emissions, suggesting that such taxes could significantly reduce global emissions and generate billions in government revenue.
🤝 Eigen Labs responded to claims that it pressured projects for token allocations, denying any coercion, and clarifying that new internal policies that now require tokens to be airdropped directly to the company rather than to individual employees.
💼 Franklin Templeton filed an S-1 for a new "Crypto Index ETF" that will hold both bitcoin and ether, following a similar move by Hashdex, with the possibility of adding more cryptocurrencies pending regulatory approval.
❄️ A Nigerian court has frozen $38 million in cryptocurrency allegedly sent to support protests against rising inflation, as authorities crack down on crypto transactions they claim are destabilizing the national currency.
🐶 Justin Sun seeks to rival Solana’s pump.fun platform with the launch of SunPump, a memecoin generator on the Tron blockchain, setting aside $10 million to support new tokens.
Today in Crypto Adoption...
📊 South Korea's National Pension Service (NPS) purchased nearly $34 million in MicroStrategy shares, marking an indirect investment in bitcoin, while also holding over $45 million in Coinbase shares.
What Do You Meme?
📈 Your Market Update 📉
BTC is down 3%, trading at $58,140
ETH is down 2.5%, trading at $2,582
BTC dominance: 53.38%
Crypto market cap: $2.15T
*All data as of today, 06:55 am ET. Source: CoinGecko
Recommended Reads
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The Defiant: Blast Struggles After its Highly Anticipated Airdrop
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