The Block
Quick Take The Arkansas Republican said he was optimistic that two crypto bills could be considered in the lame duck. Hill spoke on Tuesday during DC Fintech Week about the future of a crypto market structure bill and stablecoin legislation.
Quick Take Tether CEO Paolo Ardoino said the firm was doubling down on communication and transparency during a panel on Tuesday at DC Fintech Week. Tether has faced scrutiny over the years over its stablecoin USDT, which is pegged to the U.S. dollar. Tether says it is working with global regulators.
Quick Take Bitcoin mining difficulty jumped 3.9% to hit an all-time high of 95.7 trillion on Tuesday. The positive adjustment comes after the Bitcoin network reached a record seven-day moving average hash rate of nearly 724 EH/s.
Quick Take Less than two months after rebranding to Sky, the stablecoin-focused DeFi protocol’s founder, Rune Christensen, proposed three options for further brand changes, including returning to the MakerDAO identity. With stablecoins now a $177 billion market, they have arguably become the most dominant application of crypto technology — but what’s next for the industry’s “killer use case?” Karpatkey has closed a $7 million funding round to expand its onchain treasury management services for DAOs and ext
Quick Take The introduction of options on spot bitcoin ETFs is expected to increase volatility for the underlying asset, according to analysts. On Friday, the SEC granted “accelerated approval” to allow for the trading and listing of options of multiple spot bitcoin ETFs.
Quick Take Two days of insightful discussions exploring the convergence of AI and Web3.
Quick Take Stablecoins are increasingly gaining traction, with major corporations launching their own, discussions about them at the highest levels of government — and, now, Stripe’s $1.1 billion acquisition of Bridge. Analysts argue stablecoins legitimize public blockchains, providing investment opportunities in the form of public companies, an alternative to money market accounts, and value accruing to their underlying networks.
Quick Take Across Protocol has proposed capping its ACX token supply to one billion following criticism from LayerZero Labs CEO Bryan Pellegrino. Pellegrino flagged a function in the Across token contract that he claimed allowed the owner to burn ACX tokens from any wallet. The LayerZero Labs CEO also claimed the Across and UMA Protocol contracts can infinitely mint tokens.
Quick Take Karpatkey, an onchain treasury management solutions provider for DAOs, has closed a $7 million funding round. Karpatkey plans to expand services to more DAOs and extend outreach to traditional financial institutions.
