In this weekly recap, we cover:

  • FTX’s bankruptcy team’s proposal to sell $744 million in assets from Grayscale and Bitwise trusts, aiming to repay creditors and address the firm’s collapse.
  • BlackRock’s foray into the Ethereum space with the filing of the iShares Ethereum Trust and plans for an Ethereum ETF, signaling a deeper dive into cryptocurrency.
  • Wintermute’s public dispute with the NEAR Foundation over a failed $11 million USN stablecoin redemption deal, with CEO Evgeny Gaevoy calling for accountability and transparency in the industry.
  • Circle’s plans to go public in 2024, despite a previous failed SPAC deal, with strategic investments from BlackRock and Fidelity, and a lucrative partnership with Coinbase.
  • Aave’s temporary suspension of several markets due to an issue with a feature, taking swift action to mitigate risks and maintain market stability.
  • The significant rise of Bitcoin’s ORDI token following its listing on Binance, highlighting the expanding utility of the Bitcoin network.
  • Moody’s Analytics reporting over 600 depegging events among large-cap stablecoins in 2023, underscoring the persistent volatility in the stablecoin sector.