Ethena offers a 27% annualized reward to holders of its USDe stablecoins, a yield mostly generated by shorting ether futures. Source
DeFi Platform Earning Yield by Shorting Ether Attracts $300M
Category: ICO
BTC Order Books Are Most Liquid Since October as Market Depth Nears $540M
Early Tuesday, bitcoin’s 2% market depth across 33 centralized exchanges, or the combined value of buy and sell orders within 2% of the market price, rose to $539 million. That’s the highest since October and a roughly 30% increase since the spot ETFs hit the market on Jan. 11, according to data tracked by Paris-based Kaiko. Source
Swiss Crypto Hedge Fund Tyr Capital Clashes With Client Over FTX Exposure: FT
Tyr investor TGT has brought claims against the hedge fund that it ignored several warnings over its ties with FTX. Source
UK Minister Expects Stablecoin and Staking Legislation Within Six Months: Bloomberg
UK Economic Secretary to the Treasury Bim Afolami has said the UK government was “pushing very hard” to bring legislation for stablecoins and staking services for crypto assets within six months, according to a Bloomberg report. Source
Where Coinbase Canada Goes, so Does the World
To that end, Coinbase recently joined the Canadian Web3 Council, a multi-party non-profit organization that’s looking to loosen up recent legislative and regulatory initiatives in Canada that are currently driving crypto companies out of the country. In recent months, for instance, a number of exchanges have decided to pull out of Canada, including Binance, Bybit, dYdX, OKX, Paxos and Bittrex (the last of which has since declared bankruptcy), in direct response to “recent regulatory developments.” Source
Craig Wright Witness Defends Saying Headed for ‘Train Wreck’ as COPA Trial Enters Third Week
Before Matthews took the stand on Monday, David Bridges, CIO of Qudos Bank, who met Wright in 2006, and Wright’s cousin Max Lynam participated by video link. Both admitted that key events or conversations that convinced them Wright was Satoshi took place years ago and without material proof to back them up. Source
Meta-DAO Tries Robin Hanson’s ‘Futarchy’ in Crypto Governance Experiment
If, at first, the participants of Meta-DAO’s Discord server were open to partnering with a massive crypto trading fund, their open arms crossed as META’s spot price soared. By late Sunday night, the “fail” market was showing strength. Why should Pantera, or anyone, for that matter, get a bargain deal? Source
First Mover Americas: All Eyes on Ether
The latest price moves in bitcoin (BTC) and crypto markets in context for Feb. 19, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets. Source
Rocketing Worldcoin Prices Could Help Three Arrows, FTX Creditors
WLD’s rise has apparently come after AI developer OpenAI’s launch of a text-to-video generator, Sora, last week. Worldcoin’s parent company and OpenAI share the same founder, Sam Altman, and crypto traders are likely considering WLD a bet on the latter’s successes. Source
Japan Moves Closer to Allowing Venture Capital Firms to Hold Crypto Assets
Japan’s cabinet approved a bill adding crypto to the list of assets the nation’s investment funds and venture capital firms can acquire. Source