The Block
Quick Take “We’re not allowed to own bitcoin,” Federal Reserve Chair Jerome Powell said during a news conference on Wednesday. In Congress, Sen. Cynthia Lummis, R-Wyo., has a draft bill circulating that would direct the U.S. Treasury to buy one million bitcoin over a period of five years.
Quick Take Exodus Movement’s stock was listed on the New York Stock Exchange sister company, NYSE American, on Wednesday. EXOD stock is up over 37% as the trading day ends.
Quick Take Bitcoin’s price traded higher on Thursday afternoon after the Federal Reserve cut interest rates by 25 basis points to the 4.25% to 4.50% range. The rate reduction comes after bitcoin reached a new all-time high of over $108,000, after Donald Trump won the U.S. presidential election.
Quick Take World Liberty Financial, the fledgling DeFi project supported by President-elect Donald Trump, announced a “long-term collaboration” with synthetic dollar project developer Ethena Labs, starting with the implementation of sUSDe as a collateral token on the WLFI protocol. Polygon community members rejected a recent preliminary proposal to deploy $1.3 billion in stablecoins from the PoS Chain bridge for yield generation, citing security and user consent concerns. Ethereum Name Service (ENS), which
Quick Take Fraction AI has raised $6 million in a pre-seed funding round co-led by Spartan and Symbolic. The crypto-AI startup is focused on decentralizing data labeling.
Quick Take Donald Trump-backed DeFi platform World Liberty Financial and Ethena are planning a “long-term collaboration” starting with implementing the yield-bearing token, sUSDe. World Liberty Financial’s governance will be asked to decide on the implementation this week.
Quick Take Polygon community members rejected a preliminary proposal to deploy over $1 billion in stablecoin from the PoS Chain bridge for yield generation. Following community feedback, Polygon acknowledged these concerns and decided not to advance the proposal but remained open to exploring innovative ideas in the future.
HashKey Group has launched its Ethereum Layer 2 HashKey Chain on mainnet.HashKey joins other crypto firms like Coinbase and Kraken in building their own Layer 2 networks using the OP Stack.
With Donald Trump securing victory in the U.S. presidential election and the prospect of a Republican-controlled House and Senate, speculation has begun on what’s next for the crypto industry ahead of his Jan. 20 inauguration.The crypto community wants to see Trump’s campaign promises — including appointing a crypto-friendly SEC Chair, commuting the sentence of Ross Ulbricht, and creating a national strategic bitcoin reserve — fulfilled.
