Bitcoin
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.
Ethereum
“While the auditors did discover some high severity issues, no user assets were ever at risk,” said OP Labs in an upgrade proposal.
DeFi
Ethena faces challenges as negative funding rates slash yields, contributing to a $500 million drop in the supply of USDe amid broader market turmoil.
A net bias towards sell-side pressure has not completely subsided, say analysts at Glassnode, while noting that onchain conditions indicate high conviction from Bitcoin holders.
Meanwhile, Maker has taken a more aggressive response to the changes by preventing any new borrowing from WBTC vaults.
Business
Chaos has a software-as-a-service business model that helps crypto applications react to real-time market conditions.
Regulation
Sen. Schumer said he wants to create bipartisan support for a “sensible” crypto bill at the Crypto4Harris event.
The digital asset custodian said the three keys for the WBTC multi-signature wallet will now be held by three different institutions.
“We’re going to build a massive Bitcoin economy on Base,” said Base creator Jesse Pollak.
DeFi assets have underperformed year-to-date, but the ecosystem has strong fundamentals, leading some to speculate it’s time for prices to rebound.
