What happened in the crypto markets last week?
#Binance Research’s Weekly Alpha 🧵👇
1/ Macro/TradFi
The U.S. OCC said that national banks are permitted to buy and sell customers' crypto assets on their behalf, and can outsource crypto custody and trade execution services to third parties.
2/ Macro/TradFi (Cont.)
New Hampshire and Arizona have become the first two U.S states to pass a bitcoin reserve bill into law.
3/ Macro/TradFi (Cont.)
@galaxyhq integrated with @ZodiaCustody to offer institutional-grade blockchain custody services in Europe, enabling Zodia’s customers to earn staking rewards while maintaining custody of their assets.
4/ Macro/TradFi (Cont.)
@RobinhoodApp is exploring the launch of a blockchain-based platform that would allow users in Europe to trade U.S securities.
5/ Macro/TradFi (Cont.)
The U.S. Senate is set to start voting on the landmark stablecoin bill, which will create a safe and pro-growth regulatory framework for stablecoins, on Thursday.
6/ Macro/TradFi (Cont.)
@Strike, the Bitcoin Lightning-based payments app, has announced a new crypto lending program for both individual users and corporate accounts.
7/ Macro/TradFi (Cont.)
Asset management firm @BitwiseInvest has submitted an S-1 for a spot NEAR ETF.
8/ Macro/TradFi (Cont.)
Asset manager firm @vaneck_us has submitted an S-1 for a spot BNB ETF.
9/ L1/L2
The Pectra upgrade has gone live on Wednesday, making it Ethereum’s largest update since the Merge in 2022.
10/ L1/L2 (Cont.)
@FlareNetworks, an EVM-compatible Layer 1 blockchain, has seen its TVL spike more than 160% over the past 2 weeks from US$45m to US$120m after the launch of USDT0.
11/ L1/L2 (Cont.)
@tari, a privacy-focused Layer 1, launched its mainnet on Tuesday and will allow users to mine XTM tokens using consumer grade equipment.
12/ L1/L2 (Cont.)
@unichain becomes the first Ethereum L2 network to process blocks using Rollup-Boost, a trusted execution environment tool built by Flashbots and Uniswap Labs.
13/ L1/L2 (Cont.)
@zksync has achieved full EVM equivalence following a governance approval as part of ZIP-9.
14/ Stablecoins
@stripe unveiled Stablecoin Financial Accounts, a new money management system that uses US dollar stablecoins, to allow businesses in 101 countries to hold balances, send and receive funds on both crypto and fiat rails.
15/ Stablecoins (Cont.)
@coinbase introduces x402, a new open source payments protocol built on HTTP rails.
16/ Others
@defidevcorp, aiming to be the “Strategy of Solana”, announced a US$11.2M purchase of 82,404.5 SOL to take their holdings to 400,091 SOL.
17/ Others (Cont.)
@coinbase acquires crypto derivatives platform @DeribitOfficial in a US$2.9B deal.
18/ Others (Cont.)
@Metaplanet_JP issued a series of ordinary bonds worth US$25M for additional bitcoin purchases, following its latest acquisition of 555 BTC that took its total holdings to 5,555 BTC.
19/ Others (Cont.)
Brown University, an Ivy League school, disclosed US$5M worth of shares in BlackRock’s spot Bitcoin ETF.
20/ Interested to learn more? Be sure to check out the Binance Research website for more project and macro research reports.
www.binance.com/en/research
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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