Business
Grayscale Investments has filed to convert its $520 million Digital Large Cap Fund into an ETF.
DeFi
Two recent updates—one involving SOL as a potential backing asset for USDe and the other about a large planned investment in real-word asset products—appear to be behind the rise.
The amount is a far cry from the $300 million the DeFi project is reportedly looking to raise in this initial sale, however.
Bitcoin
Bitcoin rallied past $66,000 on Monday, liquidating $56 million short positions in the asset.
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.
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.
