Today's Key Highlights
- Grayscale debuts new Dogecoin Trust Fund
- 21Shares files for spot Polkadot ETF
- Tether integrates USDT with Bitcoin Lightning Network
- Uniswap v4 goes live
- Swarms proposes increasing team token allocation to 10% to prevent price manipulation
- Vitalik Buterin reveals portfolio: BTC under 10%, non-ETH assets below 10%
- Tether reports $13B profit in 2024, U.S. Treasury holdings hit record high
- SEC delays decision on Grayscale Digital Large Cap Fund ETF conversion
Regulatory & Macro Updates
Canada’s Purpose Investments Files for XRP ETF
Purpose Investments Inc. submitted a preliminary prospectus for the world’s first XRP spot ETF to Canadian regulators. The fund aims to invest primarily in XRP, offering investors a regulated avenue for capital appreciation. With over $23B in assets under management, Purpose previously pioneered Bitcoin and Ethereum ETFs.
👉 Explore crypto investment opportunities
Turkey’s Thodex Founder Sees Charges Reduced
A Turkish court dropped "organized crime" charges against Thodex founder Faruk Fatih Ozer but upheld his fraud conviction linked to the 2021 collapse of the exchange, which affected 391,000 users and $2B in assets. Ozer remains jailed pending further appeals.
SEC Postpones Grayscale ETF Decision
The U.S. SEC delayed its ruling on converting Grayscale’s Digital Large Cap Fund (holding BTC, ETH, XRP, SOL, ADA) into an ETF, citing ongoing review needs.
AI Sector
Italy Investigates DeepSeek AI
Italy’s data watchdog banned DeepSeek’s AI chatbot from processing Italian user data, citing insufficient transparency about personal data usage. An investigation is underway to assess compliance with EU privacy laws.
Project Developments
LayerZero Settles with FTX Estate
LayerZero Labs returned **$150M in equity** and waived a $45M debt to settle claims tied to Alameda Research’s pre-bankruptcy transactions. The agreement allows LayerZero to focus on protocol development.
IOST’s 4.26B Token Distribution Plan
The IOST Foundation unveiled a loyalty program allocating 40% of tokens to existing users, 35% to newcomers, and 23% to ecosystem builders, emphasizing long-term engagement.
Tether Expands USDT to Bitcoin Lightning Network
Tether’s integration with Taproot Assets enables USDT transactions on Bitcoin’s base layer and Lightning Network, combining Bitcoin’s security with Lightning’s speed.
👉 Trade stablecoins with low fees
MicroStrategy Raises $563M for Bitcoin Purchases
The firm sold $584M in preferred shares to fund additional Bitcoin acquisitions, boosting its existing 190K BTC holdings.
Uniswap v4 Live on Multiple Chains
The upgrade reduces pool creation costs by 99.99%, supports ETH pairs, and introduces customizable "hooks" for developers.
UBS Tests ZKSync for Gold Trading
Swiss bank UBS completed a proof-of-concept for gold trading on ZKSync, exploring scalable, privacy-focused solutions.
21Shares’ Polkadot ETF Filing
The firm seeks SEC approval for a DOT spot ETF, with Coinbase Custody as the asset custodian.
Market Data
- Ethereum ETFs saw $27.8M net inflows; assets now cover 3.02% of ETH supply.
- Bitcoin ETFs recorded $319M inflows, marking four consecutive days of growth.
- Vitalik’s Portfolio: Dominated by ETH, with <10% in BTC and other assets.
- Tether’s 2024 Profit: $13B, with U.S. Treasury holdings reaching **$113B**.
FAQs
Q: What’s the significance of Tether on Lightning Network?
A: It enables fast, low-cost USDT transactions using Bitcoin’s security infrastructure.
Q: Why did MicroStrategy issue new shares?
A: To raise capital for expanding its Bitcoin treasury, aligning with its bullish crypto strategy.
Q: How does Uniswap v4 benefit users?
A: Through near-zero pool creation fees and customizable liquidity solutions via "hooks."