The Block
Quick Take Venice co-founders share the motivation behind their product, and why maintaining privacy in the age of AI is important for everyone.
Quick Take World Liberty Financial hosted a live stream on X Monday morning to discuss the DeFi protocol ahead of its token launch on Tuesday. Paxos co-founder Rich Teo has joined the team as its stablecoin and payments lead. “Our entire banking system is basically just a big Ponzi scheme,” Donald Trump, Jr. said about what led him to support this protocol.
Quick Take Deutsche Bank will provide Keyrock with multi-currency accounts and foreign exchange services, enabling the digital asset firm to optimize and expand its market-making and OTC trading services. By consolidating services with a single entity, Keyrock can reduce its counterparty and settlement risks.
Relative search volume on Google for the term “bitcoin” has hit the lowest weekly levels in a year — despite a 142% increase in its price during the period.Other crypto-related search terms paint a mixed picture, with “Ethereum,” “NFTs” and “DeFi” also at the lows.Hot topics like “memecoins” are back on the rise.
Quick Take Stocks associated with the cryptocurrency sector rose in pre-market trading. MicroStrategy leading the early-day gains. One analyst said the rally in equities has been bolstered by positive inflation data. The U.S. Producer Price Index came in lower than expected on Friday.
Bitcoin rose 2.14% in the past 24 hours to trade around $64,300 during Monday afternoon trading in Asia.The cryptocurrency surged following China’s weekend fiscal stimulus announcement, boosting Chinese equities.This week’s key economic events include China’s Q3 GDP data and earnings reports from leading U.S. banks.
Digital asset investment products brought in $407 million worth of net inflows globally last week, according to CoinShares.The positive flows were driven by a political shift to the Republicans ahead of the U.S. presidential election, Head of Research James Butterfill said.
Quick Take Regulators have acknowledged the unique benefits decentralized physical infrastructure networks (DePIN) bring to the table, according to Greg Osuri, the CEO of Akash, one such DePIN protocol. In a recent interview, Osuri said one of his goals is to convince regulators that DePIN should be overseen differently than other crypto sectors, and referenced a “productive meeting” held with a chief staffer from the U.S. House committee that regulates commerce and trade. Akash and its competitor InFlux T
Quick Take The Avalanche Foundation has reached a deal to repurchase nearly 2 million tokens sold to the Luna Foundation Guard, an organization that supported the since-collapsed Terra ecosystem, in a $100 million dollar April 2022 deal, pending court approval, the firm announced. The financial details of the deal weren’t disclosed, but the tokens are currently worth over $55 million at full price.
