Regulatory uncertainty around yield-bearing stablecoins has allowed regulated tokenized yield-bearing instruments like money market funds to steal thunder, says Aaron Kaplan is the co-CEO of Prometheum. Source
Finance Minister Rachel Reeves will unveil the digital gilt instrument pilot, a “Financial Services Growth and Competitiveness Strategy,” measures to regulate Environmental, Social and Governance (ESG) ratings providers and measures to regulate pension mega funds during her first Mansion House speech on Thursday. Gilts are U.K. issued government bonds. Source
Tether’s ambition to venture into asset tokenization, a red-hot trend at the intersection of crypto and traditional finance, has been well-documented as the company strives to diversify from its highly-profitable stablecoin business. The company issues the $126 billion dollar stablecoin USDT and the $600 million gold-backed token XAUT, and reported f $7.7 billion in group-wide net profits this year so far, in large part from the yield on its $80 billion stockpile of U.S. Treasuries. It has used the profits to invest in startups, bitcoin mining, energy production and AI.…
The last decade of Web3 has battle-hardened a stack of distributed architecture and incentive games from smart contracts, token economics, DAOs and DeFi. While too complex for people themselves to operate at scale, this technology is primed for AI and the agentic internet, says Outlier Ventures’ founder and Chairman, Jamie Burke. Source
A week after the election, crypto sentiment remains strong. Polymarket, bitcoin and a possibly more efficient and crypto-positive government are all tailwinds to look forward to. Source
Aaron Brogan, a crypto industry lawyer, said that hypothetically, a company could strengthen IP address blocks by incorporating GPS data from users’ mobile devices, “but this might be impractical in commercial use.” A customer using a laptop without a GPS, for example, might have a hard time logging on without two-factor authentication. Source
Stablecoins, which are cryptocurrencies with their price anchored to government-issued currencies, are increasingly popular for payments across the globe, offering a more efficient and cheaper way to move money. As countries roll out regulations for the asset class, more banks are getting interested in issuing their own stablecoin. Spanish bank BBVA, for example, said it plans to issue a stablecoin on Ethereum next year using payment firm Visa’s tokenization platform. Source
Hedera and Ripple were also top performers, each gaining 6%. Source
Asset manager Grayscale, in a report in April, argued that Ethereum is “meaningfully decentralized and credibly neutral for network participants, likely a requirement for any global platform for tokenized assets” and, therefore, has the best chances among smart contracts to benefit from tokenization. Source
World Liberty Financial is spearheaded by Zachary Folkman and Chase Herro, who worked previously on DeFi platform Dough Finance, which saw $2 million of crypto assets drained through a July exploit. Members of the Trump family, including Donald Trump, publicly championed the project on social media, with the former president being titled as “Chief Crypto Advocate.” for the platform. Two of his sons, Eric Trump and Donald Trump Jr., are involved as “Web3 Ambassadors,” while his other son Barron Trump is listed as “DeFi Visionary.” Source