ETFs Offer Tailwinds for Other Digital Assets

The 2023 period was also one of reduced macroeconomic correlations across digital assets. Crypto was allowed to be crypto, and mostly decoupled from US equities and gold over the year (see rolling correlation chart above), albeit with lower levels of realized volatility than in prior years. Surprisingly, ether realized nearly the same level of volatility as bitcoin in 2023, breaking from the historical norm of generally realizing ~20% higher, with bitcoin’s volatility dropping towards levels akin to single stock volatility, and more in line with traditional asset classes. Source

El Salvador Attracts Foreign Bitcoin Investors with Citizenship Offer

The legislative overhaul attracts the philanthropic foreigners keen on contributing to the economic, social, and cultural development of El Salvador through Bitcoin donations. In a recent development, the Legislative Assembly of El Salvador has reportedly approved a migration law that facilitates expedited citizenship for foreigners contributing Bitcoin (BTC) donations to government social and economic development programs. The reform, endorsed by Nayib Bukele’s New Ideas party, passed through the country’s legislature on December 21, as reported by Reuters. The new law is also anticipated to take effect in the coming days.…

Shiba Inu Working With Web3 Domain Firm D3 to Soon Offer ‘.shib’ Domain

“Our partnership with D3 allows us to scale outside of the existing ShibArmy and give over 5 billion Internet users direct access to the SHIB ecosystem,” said Shytoshi Kusama, Lead Developer of Shiba Inu. “Bringing real domains to SHIB is a big deal, expanding our vision for digital identities within our decentralized ecosystem while driving long-term revenue generation within the ecosystem.” Source

SpaceX Plans New Tender Offer, Aiming for Valuation Above $175B

SpaceX has become one of the most valuable companies in the United States, dominating the market for commercial space launch services, primarily due to the success of its Falcon rockets.  Elon Musk‘s aerospace company SpaceX is in discussions to sell insider shares via a new tender, potentially valuing the privately held firm at around $175 billion, as reported by Bloomberg on Thursday, citing people familiar with the matter. According to the report, the company plans to sell approximately $500 million to $750 million of its shares to undisclosed parties, bringing…

Binance Launches Anchored Coins EUR (AEUR), Celebrates Listing with Promo Offer

Issued natively on the Ethereum and BNB Chain, AEUR intends to add support for more blockchains in the near future. Binance, the world’s largest crypto exchange by trading volume, has announced the launch of Anchored Coins EUR (AEUR) stablecoin. According to the announcement, users may begin trading the new stablecoin on its platform today by 10:00 (UTC). For a start, however, only four trading pairs will be supported. They are AEUR/USDT, BTC/AEUR, ETH/AEUR, and EUR/AEUR. As Binance commonly does its listings, withdrawal of AEUR will be delayed for at least…

Paxos Obtains Regulatory Approval in UAE to Offer Fiat-backed Stablecoins to Web3 Users

Paxos received the in-principle approvals (IPAs) of the Financial Services Regulatory Authority (FSRA) in the Abu Dhabi Global Market (ADGM) to offer USD-backed stablecoins among other crypto services. In a bid to expand its crypto-related services in the Middle East, Paxos Trust Company LLC has announced that it has received the necessary regulatory approval to offer fiat-backed stablecoins in the United Arab Emirates (UAE). According to the announcement, Paxos will continue with its asset tokenization plan in Abu Dhabi after securing in-principle approvals (IPAs) from the country’s Financial Services Regulatory…