Category: ICO

BlackRock’s Tokenized Fund BUIDL Pitched to Ethena as Reserve Asset

Ethena’s open competition is the latest example of tokenized RWAs getting increasingly used in the crypto-native, decentralized finance (DeFi) world. Most recently, DeFi lender MakerDAO announced plans to invest $1 billion of backing assets of the DAI stablecoin in tokenized Treasury products, while ArbitrumDAO, an ecosystem development organization of Ethereum layer-2 Arbitrum, finalized a similar contest to allocate the equivalent of 35 million of ARB tokens in tokenized offerings. Source

Coinbase Narrows Demand for SEC Chair Gensler's Crypto Messages

Coinbase Inc. (COIN) is going after internal chatter at the U.S. Securities and Exchange Commission (SEC) that may shed light on its pursuit of cryptocurrency exchanges as illegal enterprises – including Chair Gary Gensler’s own communications – but the scope of its latest request filed on Tuesday has been dialed back after resistance from a federal judge. Source

ETH ETF Trading Volume Above $600M in First Half Day

“We assume $ETHE volume is mostly outflows,” Bloomberg Intelligence senior ETF analyst Eric Balchunas wrote in a post on X. Grayscale’s ETHE, in similar fashion to its Bitcoin Trust (GBTC), entered the race with over $9 billion in assets, thus giving rise to the idea that much of its volume is due to outflows. Source

Crypto-Friendly Bank Revolut Plans to Sell $500M of Employee Shares at $45B Valuation Before Possible IPO: WSJ

Early employees of startups are often given shares as part of their compensation, which they can cash in when the company goes public. However, higher interest rates in recent years have made for an uncertain environment for IPOs. Revolut may be aiming to allow employees to raise some cash while giving the firm’s valuation an added boost ahead of an IPO. Source

ETH ETFs: What We’re Watching For

ETH ETFs finally make their debut in the U.S. this week. How will the market react and will Ethereum as a development ecosystem benefit? George Kaloudis raises the questions we’re looking forward to answering. Source