Bitcoin
Bitcoin rallied past $66,000 on Monday, liquidating $56 million short positions in the asset.
Business
Tether is reportedly in the early stages of discussing U.S. dollar lending opportunities with commodities traders.
Ethereum
Unichain could redistribute millions of dollars in value to Uniswap Labs and UNI token holders, claims The DeFi Report’s Michael Nadeau. Not everyone is convinced that liquidity on the layer 1 will migrate.
DeFi
Ethena Labs proposed bringing SOL, and liquid staking options like bbSOL and BNSOL, as a backing asset to USDe, with the same hedging mechanism used for BTC and ETH perpetual futures.
A governance proposal published early Friday aims to move 200 million ARB from the program’s multi-signature wallet back to the DAO treasury.
Salame, who started his 7.5-year prison sentence Friday, accused prosecutors of lying to his lawyers, said Caroline Ellison is as culpable as Sam Bankman-Fried, and claimed he wasn’t guilty of the charges to which he pleaded guilty.
More than $150 million worth of long crypto positions were liquidated over the last 24 hours.
A tweet roughly eight hours ahead of the official announcement strongly implied that the news was coming.
Tech
Unichain, intended to offer faster and cheaper transactions, unifies the experience cross chain and was made in collaboration with Flashbots, a firm known for its research in maximal extractable value.
The founder of one of the top decentralized crypto exchanges acknowledged that dYdX has had a challenging year and cited the need for leadership to come from its founder as reason for his return as CEO.
