USDe stablecoin issuer Ethena raises $100M to launch new token — Report
In the ever-evolving world of cryptocurrency, one company is making waves with its innovative approach to bridging the gap between traditional financial institutions and the digital asset space. Ethena Labs, founded by Guy Young, has recently announced its latest product, iUSDe, which is set to revolutionize the way regulated financial institutions interact with cryptocurrencies.
With the rise in popularity of cryptocurrencies, many traditional financial institutions have been hesitant to fully embrace this new form of currency due to its unregulated nature. However, with iUSDe, Ethena Labs aims to provide a solution that will allow these institutions to confidently enter the world of digital assets.
iUSDe is a product that is specifically designed for regulated financial institutions, providing them with a secure and compliant way to interact with cryptocurrencies. This will not only open up new opportunities for these institutions, but also provide a level of trust and legitimacy to the cryptocurrency market.
The product is set to launch in the coming months and has already garnered significant interest from major financial institutions. With its user-friendly interface and robust security measures, iUSDe is poised to become a game-changer in the world of cryptocurrency.
But this is not the first time Ethena Labs has made headlines. The company has been at the forefront of innovation in the digital asset space, with its previous product, Ethena Exchange, gaining widespread recognition for its advanced trading features and seamless user experience.
With the launch of iUSDe, Ethena Labs is once again proving its commitment to bridging the gap between traditional finance and the world of cryptocurrencies. As the market continues to grow and evolve, it is companies like Ethena Labs that are leading the way in creating a more inclusive and regulated environment for all players.
So keep an eye out for iUSDe and the exciting developments it will bring to the world of cryptocurrency. With Ethena Labs at the helm, the future of digital assets is looking brighter than ever.
Strategy completes $2B convertible note offering to buy more Bitcoin
Strategy, a leading investment firm, has recently announced a $2 billion note offering as part of their ambitious “21/21 Plan.” This plan aims to raise a total of $42 billion in capital over the next three years, solidifying Strategy’s position as a major player in the investment world.
The note offering, which is set to launch in the coming weeks, will provide investors with an opportunity to participate in Strategy’s growth and success. With a strong track record of delivering impressive returns to their clients, Strategy has become a trusted name in the industry. This latest offering is a testament to their commitment to continued growth and expansion.
The “21/21 Plan” is a strategic initiative that outlines the company’s goals and objectives for the next three years. It focuses on diversifying their portfolio, expanding into new markets, and investing in emerging technologies. This forward-thinking approach positions Strategy to capitalize on emerging trends and opportunities, ensuring long-term success for both the company and its investors.
The timing of this note offering is significant, as the global economy continues to recover from the impact of the pandemic. With markets showing signs of stability and growth, investors are looking for opportunities to diversify their portfolios and maximize their returns. Strategy’s note offering provides a unique opportunity for investors to be a part of a successful and dynamic investment firm.
In addition to the note offering, Strategy has also announced plans to launch a new fund focused on sustainable and socially responsible investments. This aligns with their commitment to responsible investing and reflects the growing demand for ethical and sustainable investment options.
Overall, Strategy’s $2 billion note offering and “21/21 Plan” demonstrate their strong vision and determination to achieve their goals. With a proven track record and a clear strategy for the future, investors can trust that their investment with Strategy will yield impressive returns. Don’t miss out on this opportunity to be a part of Strategy’s success story.
Ethereum devs to kick off Pectra testing on Holesky
Ethereum’s highly anticipated Pectra upgrade is finally here, launching on the Holesky testnet today. This major update brings a host of new features and improvements to the Ethereum network, including enhanced validator rewards, account abstraction, and layer-2 scaling enhancements.
One of the most exciting changes introduced by the Pectra upgrade is the new validator rewards system. This incentivizes validators to participate in the network by offering them higher rewards for their contributions. This is a crucial step towards Ethereum’s transition to a proof-of-stake consensus mechanism, which will make the network more secure and efficient.
Another significant improvement brought by the Pectra upgrade is account abstraction. This feature allows developers to create more complex and flexible smart contracts, making it easier to build decentralized applications (dApps) on the Ethereum blockchain. With account abstraction, dApp developers can now access and manage multiple accounts within a single smart contract, opening up a world of possibilities for innovative and advanced applications.
In addition to these changes, the Pectra upgrade also includes layer-2 scaling improvements. This means that transactions on the Ethereum network will now be faster and more cost-effective, making it easier for users to interact with dApps and conduct transactions on the blockchain.
The launch of the Pectra upgrade on the Holesky testnet is a significant milestone for Ethereum, as it paves the way for the full implementation of these improvements on the mainnet. This upgrade is a testament to the continuous development and innovation happening within the Ethereum community, and it is sure to bring even more growth and adoption to the network.
So, what’s next for Ethereum? With the Pectra upgrade now live on the testnet, all eyes are on the mainnet release, which is expected to happen in the coming months. This is an exciting time for Ethereum and the entire cryptocurrency space, as we witness the evolution of one of the most influential and groundbreaking blockchain networks in the world.
Crypto ETPs see $508M outflow as Bitcoin sell-off continues — CoinShares
Last week, the crypto market saw a significant outflow of $508 million from Exchange-Traded Products (ETPs), with Bitcoin ETFs alone losing $571 million. This trend reflects a cautious sentiment among investors, as the market continues to experience volatility and uncertainty.
According to data from CoinShares, a digital asset investment firm, the outflows from crypto ETPs were primarily driven by Bitcoin ETFs, which saw a significant decrease in investment of $571 million. This is a significant drop from the previous week, where Bitcoin ETFs recorded a modest inflow of $39 million.
On the other hand, XRP funds recorded a modest inflow of $38 million, indicating that some investors are still bullish on the digital asset despite its recent legal troubles. This is in line with the overall trend in the crypto market, where XRP has been one of the few cryptocurrencies to see positive price movements in the past week.
The outflows from crypto ETPs can be attributed to the ongoing volatility in the market, as well as the uncertainty surrounding the regulatory landscape for cryptocurrencies. With governments and financial institutions around the world still grappling with how to regulate and integrate digital assets into traditional financial systems, investors are understandably cautious about their investments.
However, despite the recent outflows, the overall sentiment towards crypto ETPs remains positive. Year-to-date, crypto ETPs have seen a total inflow of $4.2 billion, indicating a growing interest in digital assets among institutional and retail investors alike.
In conclusion, while last week saw a significant outflow from crypto ETPs, the overall trend remains positive. As the market continues to mature and regulatory clarity improves, we can expect to see a more stable and confident sentiment among investors in the future.
Infini loses $50M in exploit; developer deception suspected
A shocking incident has rocked the world of cryptocurrency, as a rogue developer is suspected of stealing $50 million in USDC from a prominent crypto payments company. The developer, who had been given admin rights after completing the project, is now the prime suspect in this massive theft.
The stolen funds belonged to the company, which had been using USDC as a stablecoin for its payment services. The theft was discovered when the company noticed a sudden and significant decrease in their USDC reserves. Upon further investigation, it was revealed that the funds had been transferred to various wallets, with no trace of their whereabouts.
The company immediately reported the incident to the authorities and launched an internal investigation. It was soon discovered that the rogue developer, who had been given admin rights to the project, had not been removed from the system after the project was completed. This allowed them to access and transfer the funds without being detected.
This shocking incident has raised concerns about the security and trustworthiness of the crypto industry. While blockchain technology is known for its security and transparency, this incident highlights the importance of proper security measures and protocols in place to prevent such thefts.
The company has assured its customers that their funds are safe and that they are working closely with the authorities to recover the stolen funds. They have also implemented stricter security measures and protocols to prevent any future incidents.
This incident serves as a reminder to all companies and individuals involved in the crypto industry to prioritize security and take necessary precautions to protect their assets. It also highlights the need for stricter regulations and oversight in the industry to prevent such incidents from occurring in the future.
Berachain TVL surges above $3.2B, overtaking Base and Arbitrum
Berachain, a layer-1 blockchain, has recently made waves in the decentralized finance (DeFi) space by surpassing major players like Arbitrum and Base to become the sixth-largest DeFi network in terms of total value locked. This impressive feat is a testament to the platform’s growing popularity and its ability to attract users and assets.
With a total value locked of $3.26 billion, Berachain has firmly established itself as a force to be reckoned with in the DeFi landscape. This significant increase in value locked is a clear indication of the platform’s strong fundamentals and its potential for growth in the future.
One of the key factors contributing to Berachain’s success is its innovative layer-1 technology. This blockchain solution offers a high level of scalability, security, and interoperability, making it an attractive option for DeFi projects and users. Additionally, Berachain’s low transaction fees and fast processing times have also played a crucial role in its rise to prominence.
Another factor that sets Berachain apart from its competitors is its focus on user experience. The platform’s user-friendly interface and intuitive design make it easy for both experienced and novice users to navigate and participate in the DeFi ecosystem. This has helped to attract a diverse range of users, further driving the platform’s growth.
Berachain’s success also highlights the increasing demand for decentralized finance solutions and the potential for further growth in this sector. As more users and assets flow into the platform, we can expect to see Berachain climb even higher in the rankings and solidify its position as a leading DeFi network.
In conclusion, Berachain’s recent surge in total value locked is a significant milestone for the platform and the DeFi industry as a whole. With its advanced technology, user-friendly interface, and growing popularity, Berachain is well-positioned to continue its upward trajectory and make a lasting impact in the world of decentralized finance.
$90K Bull market support retest? 5 Things to know in Bitcoin this week
Bitcoin traders are on edge as the market continues to show signs of bearish momentum, with fears of a return to previous price range lows looming. Despite a brief surge in price earlier this month, Bitcoin has struggled to maintain its momentum and has been unable to break through key resistance levels.
As the monthly close approaches, traders are closely watching the market for any signs of a potential turnaround. However, market inertia seems to be keeping the bears in control, with Bitcoin struggling to gain any significant upward momentum.
This lack of bullish movement has caused concern among traders, who fear a return to the previous price range lows of around $30,000. This level has acted as a strong support in the past, but if it is broken, it could open the door for further downward movement.
The recent market volatility has been attributed to a number of factors, including regulatory crackdowns in China and the United States, as well as concerns over the environmental impact of Bitcoin mining. These factors have caused uncertainty and hesitation among investors, leading to a lack of buying pressure in the market.
Despite these challenges, many experts remain optimistic about the long-term prospects of Bitcoin. They point to the growing adoption of cryptocurrency by major institutions and the increasing interest from retail investors as signs of a strong future for Bitcoin.
In the short term, however, traders are advised to proceed with caution and closely monitor the market for any potential shifts in momentum. As the monthly close approaches, all eyes will be on Bitcoin to see if it can break out of its current range and regain its bullish momentum. Until then, traders will have to navigate the market with caution and patience.
US Bitcoin ETFs lose $1.14B in two weeks amid US-China trade tensions
The recent market volatility and global economic uncertainties have taken a toll on the US Bitcoin ETFs, with a staggering $1.14 billion in outflows over the past two weeks. This is the largest outflow since the launch of these ETFs, indicating a significant shift in investor sentiment.
The rise of trade tensions between the US and China, coupled with concerns over monetary policies, has caused a ripple effect in the financial markets. As a result, investors are turning to traditional safe-haven assets like gold, causing a decline in demand for Bitcoin ETFs.
The outflows from Bitcoin ETFs have also been attributed to the recent dip in the price of Bitcoin. The world’s largest cryptocurrency has seen a significant drop in value, falling below the $10,000 mark for the first time in months. This has caused panic among investors, leading them to pull out their investments from Bitcoin ETFs.
The decline in demand for Bitcoin ETFs is a clear indication of the impact of external factors on the cryptocurrency market. While Bitcoin has been known for its volatility, the recent events have highlighted the need for a more stable and regulated investment option.
Despite the outflows, experts believe that the long-term prospects for Bitcoin and other cryptocurrencies remain strong. The underlying technology and potential for growth in the digital asset space continue to attract investors. However, in the short term, the market is likely to remain volatile, and investors need to be cautious with their investments.
In conclusion, the recent outflows from US Bitcoin ETFs serve as a reminder of the impact of external factors on the cryptocurrency market. As the market continues to evolve, it is essential for investors to stay informed and make informed decisions to navigate through the volatility.