Core Insights - The US government's stablecoin activation policies are aimed at reinforcing the dollar's global dominance rather than solely addressing domestic needs [1] - The narrative that stablecoins threaten bank lending is challenged, highlighting that demand for stablecoins largely comes from international users [2][6] Stablecoins and Banking - The demand for stablecoins is primarily driven by users outside the US, which helps extend the dollar's global influence [2] - Concerns from banking interest groups about potential deposit outflows due to stablecoins are noted, with a US Treasury study estimating a possible loss of up to $6.6 trillion if universal interest payments on stablecoins were allowed [4][5] Innovation and Competition - Stablecoins are compared to money market funds, suggesting they are fostering innovation in payment systems by enabling faster, cheaper, and programmable transactions [3] - Approximately two-thirds of stablecoin transfers occur within decentralized finance (DeFi) and blockchain platforms, indicating their role in a new financial infrastructure that operates independently of the traditional banking system [6][7]

Key Takeaways Coinbase is poised to gain from pro-crypto policies and expanding DeFi and stablecoin initiatives.MSTR's vast bitcoin holdings and capital-raising via preferred shares drive its growth outlook.The consensus estimate for COIN's 2025 EPS projects a rise, while that for MSTR indicates a decline.Bitcoin, the leading cryptocurrency, has surged amid growing recognition as a decentralized, non-sovereign asset and due to rising institutional and corporate participation. Supportive U.S. economic polici ...

Wall Street is embracing crypto like never before. But financial institutions may struggle to know where to begin. The Ethereum Foundation is aiming to make this easier for them with the launch of a new website. On Wednesday, the organisation, which helps develop and maintain the Ethereum blockchain, launched the new online resource to help guide firms looking to integrate the blockchain into their businesses. “Clear pathways are essential as institutions build on Ethereum,” a post from the foundation s ...

Core Insights - The crypto market is closely monitoring the Federal Open Market Committee (FOMC) meeting on October 29, anticipating a potential 25 basis points cut in federal fund rates, currently at 4%-4.25% [1] - A notable crypto whale has successfully closed long positions, generating profits worth millions, and maintains a 100% win rate [1][2] Market Performance - The total crypto market capitalization is reported at $3.82 trillion, reflecting a decrease of 1.24% in the last 24 hours [4] - Bitcoin (BTC) is trading at $113,166.29, down 1.13% in a day, while Ethereum (ETH) is at $4,015.82, down 2.62% [4] - Solana (SOL) is trading at $199.82, down 0.21% in a day, but has increased over 7% in the past week [5] Whale Activity - The whale closed a long position on Ethereum (ETH) with five times leverage, earning a profit of $1.63 million, and has an unrealized profit exceeding $15 million from a long position on Solana (SOL) with ten times leverage [2] - This whale previously profited from long positions on Bitcoin (BTC) and Ethereum (ETH) ahead of the September inflation data release [3] Upcoming Events - The Solana Breakpoint conference in Abu Dhabi will gather builders and investors to discuss strategic and operational concerns within the decentralized finance (DeFi) ecosystem [5]

Welcome to The Protocol, CoinDesk's weekly wrap of the most important stories in cryptocurrency tech development. I’m Margaux Nijkerk, a reporter at CoinDesk. In this issue: Ethereum’s Fusaka Upgrade Completes Final Hoodi Test Ahead of Mainnet Launch BOB Unveils Bitcoin Vault Liquidation Engine to Power BTC-Backed Stablecoin Lending Ledger Unveils $179 Nano Gen5, Built for Identity in an AI-Driven World Google Claims Quantum Breakthrough to Reignite Bitcoin Ramifications Debate Unknown block ty ...

Asset manager 21Shares US LLC has filed a new S-1 registration statement with the US Securities and Exchange Commission (SEC) for the “21Shares Hyperliquid ETF,” a fund designed to track the US dollar price performance and staking yield of HYPE, the native token of the Hyperliquid network. The filing follows 21Shares’ growing push into DeFi-focused ETFs, following recent filings for Injective (INJ) and leveraged HYPE exposure. 21Shares Expands Its DeFi ETF Lineup The 21Shares Hyperliquid ETF, structured ...

Ethereum Ecosystem Development - Ethereum Foundation launches institutional portal to guide enterprise adoption [1] - Ethereum is advancing privacy tech with building blocks like ZK, FHE, and TEEs [1] - The portal highlights Layer 2 ecosystem and diverse Rollups [1] DeFi and Financial Innovation - The portal showcases RWAs (Real World Assets) and stablecoins [1] - The portal showcases DEXs (Decentralized Exchanges) and DeFi (Decentralized Finance) [1] - The portal highlights staking and restaking networks [1]

World Liberty Financial Trump, wlfi token, wlfi airdrop. Photo by BeInCrypto World Liberty Financial, the decentralized finance (DeFi) venture backed by US President Donald Trump, announced that it will distribute about $1.2 million worth of WLFI tokens to early users of its USD1 points program. This airdrop arrives as WLFI faces a challenging market, with prices falling 24.6% since September and bearish sentiment prevailing among traders. WLFI Airdrop Targets Early Supporters of USD1 Program According ...

Market Overview Confidence is flowing back into the market as the Crypto Fear and Greed Index has climbed from “Fear” to “Neutral” since the historic October crash. Source: CoinMarketCap Bitcoin edged up 6% in a week to $114,000, with the rising odds of a Fed rate cut tomorrow and a potential trade deal between the U.S. and China acting as the main catalysts for the recovery. Major altcoins bounced as well, with Solana and its ecosystem tokens notching sizable gains. The sector’s market cap swelled 8% ...

Core Insights - SharpLink Gaming, Inc. plans to deploy $200 million in Ethereum (ETH) onto Linea, an Ethereum Layer-2 network, marking a significant collaboration with ether.fi, EigenCloud, and Anchorage Digital Bank [1][2] Group 1: Institutional Strategy - The deployment will be managed through Anchorage Digital Bank and will involve staking, restaking, and AI-yield strategies on Linea's zkEVM architecture, providing diversified ETH-denominated returns [2] - SharpLink's Co-CEO describes this initiative as a pivotal moment in institutional crypto treasury management, emphasizing the importance of security and compliance for stockholders [3] - The partnership aligns with SharpLink's strategy to enhance yield responsibly and promote Ethereum's global adoption [4] Group 2: Linea's Role - Linea, developed by Consensys, is designed as a high-performance, zkEVM Layer-2 solution for enterprises and institutions [5] - Consensys' CEO highlights that this collaboration aims to make ETH more productive for institutional capital, with expectations that other institutions will follow suit [6] Group 3: AI and DeFi Integration - The partnership is seen as foundational for a new "verifiable economy" that integrates AI, DeFi, and trustless infrastructure [7] - SharpLink's ETH deployment will not only generate staking returns but also support decentralized AI models and computational workloads through EigenCloud's Autonomous Verifiable Services [8]