The Block
Quick Take The attorney generals asked the court to declare that a “digital asset transaction is not an investment contract.” The complaint names the SEC, SEC Chair Gary Gensler and the agency’s commissioners as defendants.
Quick Take VanEck Head of Digital Assets Research Matthew Sigel said bitcoin’s rally could continue well into 2025. Bitcoin’s bullish momentum following Trump’s presidential nomination resembles its rally following the 2020 election seating Democrat Joe Biden, he said.
Quick Take Last week saw 181,000 new tokens appearing on DEXs, with a major driver of activity being memecoin launches. The following is an excerpt from The Block’s Data and Insights newsletter.
Quick Take In prepared remarks on Thursday at the Practicing Law Institute’s 56th Annual Institute on Securities Regulation, U.S. Securities and Exchange Commission Chair Gary Gensler reflected on his time leading the agency’s team. Republicans retained control of the U.S. House on Wednesday, having secured a majority of 218 members, paving the way for crypto-friendly lawmakers to lead the Financial Services Committee and efforts for digital asset-related bills. U.S. spot bitcoin ETFs have surpassed $500 b
Quick Take The proposed Strategic Bitcoin Reserve Act is cosponsored by Republicans Reps. Mike Cabell and Aaron Kaufer. The bill would allow Pennsylvania’s state treasurer to invest in bitcoin, digital assets and allow for investing in exchange-traded products.
Quick Take Portal’s second fund is reportedly oversubscribed and includes backers like a16z’s Chris Dixon and Marc Andreessen. The VC firm zeroes in on ground-level opportunities, emphasizing writing a startup’s “first check.”
Quick Take Doodles artwork will appear on 100 million McCafe Holiday Cups across United States-based restaurants starting on Nov. 18. Buying a McCafe beverage through the McDonald’s app also gives users a code redeemable for a digital pack of collectible McDonald’s x Doodles branded items.
Quick Take Deribit options open interest has hit an all-time high, driven by surging institutional and retail interest in crypto options, the derivatives exchange CEO said. Bitcoin options trading volumes have also soared, reflecting bullish sentiment as the asset hovers around the $90,000 mark, with increased demand evident in both call options and positive funding rates.
Quick Take Stablecoin issuer Tether announced it has launched a real-world asset tokenization platform called Hadron, which it says will allow users to tokenize “anything.” Tether specifically mentions the tokenizing of stocks, bonds, stablecoins and loyalty points.
Franklin Templeton has expanded its FOBXX tokenized government securities fund to Ethereum, further diversifying its blockchain presence alongside networks like Aptos and Stellar.Tokenized government securities now have a total AUM of $2.329 billion, with Franklin Templeton’s FOBXX and BlackRock’s BUIDL fund leading the market share, according to Dune Analytics.
