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Jump Trading has agreed to pay $123 million to settle SEC charges related to its involvement in the collapse of the algorithmic stablecoin TerraUSD, which resulted in over $40 billion in investor losses. The SEC accused the firm of misleading investors about TerraUSD's stability and violating securities laws during Luna token offerings. Despite earning $1.28 billion from backing TerraUSD, the settlement suggests an acknowledgment of the issues surrounding its actions, prompting calls for stricter regulations in the crypto market.
Argentina is set to launch its first blockchain-powered lithium tokenization project in Q1 2025, allowing global investors to own fractional shares of this essential resource for electric vehicle batteries. This initiative aims to enhance transparency, liquidity, and ethical sourcing while reducing transaction costs by eliminating intermediaries. With the EV industry projected to reach $1.3 trillion by 2027, Argentina's move positions it as a leader in sustainable innovation and digital asset integration.
21Shares has registered the "21Shares Polkadot Trust" in Delaware, signaling a potential launch of a Polkadot (DOT) Exchange-Traded Fund (ETF) aimed at both institutional and retail investors. This move comes amid growing institutional interest in cryptocurrency and anticipated regulatory clarity in the U.S., particularly with a pro-crypto stance from President-elect Donald Trump. As Polkadot prepares for its Polkadot 2.0 release in Q1 2025, its innovative technology and collaborations, such as with Alchemy Pay, are enhancing its global presence and interoperability.
Raoul Pal, former hedge fund manager and co-founder of Real Vision, has revealed Dogecoin as a key part of his concentrated crypto investment strategy, citing its 500% outperformance over Bitcoin since 2013 and its potential ties to Elon Musk's plans for X Payments. Pal believes upcoming developments, including the Department of Governance Efficiency, will significantly impact Dogecoin's market presence. He also discussed his broader investment philosophy, emphasizing the cyclical nature of liquidity in markets and the potential for an explosive crypto market phase in the near future.
Venture capital funding in stablecoin projects is surging, driven by expanding applications beyond crypto trading, such as remittances and B2B payments. With annual transaction volumes already between $200 billion and $250 billion, stablecoins are projected to handle $1 trillion in transactions by 2026, capturing over 1% of global cross-border payments. This shift highlights their growing importance in financial systems, particularly in regions with limited banking infrastructure, as they enhance efficiency and accessibility in global payments.
Assetera has launched a platform enabling non-U.S. investors to trade tokenized shares of major companies like Nvidia and Coinbase, as well as the S&P 500, using blockchain technology on the Polygon network. This initiative aims to enhance global access to the U.S. stock market while adhering to strict regulatory standards, including MiFID II and upcoming MiCA rules in the EU. By tokenizing traditional assets, Assetera is fostering a more inclusive investment ecosystem and improving liquidity in the financial sector.
Bitdeer Technologies' stock surged 160% to $21.10 following the launch of its SEALMINER A2 rigs, which feature the efficient SEAL02 chip. The company aims to achieve 35 EH/s by 2025, significantly up from its previous target of 18 EH/s, driven by strong customer demand for 30,000 pre-ordered units. Additionally, Bitdeer is expanding its infrastructure with new power capacity and AI cloud offerings, supported by $400 million in funding.
UBS has launched the first-ever tokenized money market fund, the "UBS USD Money Market Investment Fund Token" (uMINT), on the Ethereum blockchain, catering to rising investor interest in tokenized assets. This initiative aligns with UBS's Distributed Ledger Technology strategy and reflects a broader trend among major banks, including Goldman Sachs and Deutsche Bank, to embrace tokenization in finance. As tokenization gains traction, Ethereum's dominance in real-world asset (RWA) tokenization, valued at $3 billion, positions it as a key player in the evolving financial landscape.
UBS has launched its first tokenized money market fund, the uMINT, on the Ethereum blockchain, responding to rising investor demand for tokenized assets. This initiative aligns with UBS's broader strategy in digital asset management and reflects a growing trend among major banks like Goldman Sachs and Deutsche Bank to explore tokenization in finance. As tokenization gains traction, Ethereum solidifies its position as a leader in the real-world asset sector, with a current market value of $3 billion.
UBS has launched the "UBS USD Money Market Investment Fund Token" on the Ethereum blockchain, marking a significant step in integrating cryptocurrencies into traditional finance. This move reflects growing interest in tokenized assets and could positively impact Ethereum's value, as both Ethereum and Solana gain traction among investors. With Bitcoin maintaining its dominance, the evolving dynamics suggest a shift towards a blended investment landscape that combines conventional and digital assets.
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