The Block
Quick Take Sky founder Rune Christensen said the project would mull making brand changes, giving the community three options. Community members may contemplate reverting to its original brand identity following community feedback. The project will hold a community call this Friday to discuss the options set forth by Christensen.
Quick Take Nomura-backed Komainu announced Tuesday that it is acquiring Singapore-based custodian Propine, pending approval from the MAS. Komainu said that the acquisition is expected to strengthen its presence in Singapore.
Quick Take CFTC Chair Rostin Behnam said he doesn’t expect Congress to act this year on crypto legislation during SIFMA’s annual meeting on Monday. Behnam also called on Congress to “weigh in” on election betting.
Quick Take The team behind Ethereum Layer 2 blockchain Scroll announced it will distribute 7% of the new SCR token’s total supply in its first airdrop. Many users have taken to social media to vent their frustrations about the planned tokenomics.
Quick Take Infinex Founder Kain Warwick said World Liberty Financial’s poor performance was due to a shift in the meta away from token sales and into memecoins. Warwick also spoke of a “DeFi renaissance” and his vision of Infinex’s role in breaking down barriers for new crypto users.
This figure is up over 36% in the last two weeks.The following is an excerpt from The Block’s Data and Insights newsletter.
Quick Take Payments giant Stripe has acquired stablecoin platform Bridge for $1.1 billion, according to TechCrunch founder and well-known venture capitalist Michael Arrington, expanding its integration with the space. Bitcoin ETF inflows, crypto equity markets and retail trading sentiment are “screaming” a risk-on environment, according to analysts at research and brokerage firm Bernstein. Yuichiro Tamaki, the leader of Japan’s Democratic Party for the People (DPP), has proposed a plan to reduce tax rates
Since the Federal Reserve’s 50-basis point rate cut last month, Bitcoin has outpaced Ethereum, driven by stronger institutional adoption and higher market demand, analysts said.However, Solana has increased in value over the past 24 hours amid a wider market downturn, as increased stablecoin liquidity signals strong purchasing power that could further fuel altcoin growth, according to an analyst.
Quick Take Transak, a Miami-based fiat-to-crypto payment gateway used by major blockchain platforms, disclosed on Sunday it suffered a data breach affecting 1.14% of its users. Stormous ransomware gang, which claims responsibility for hacking web3 identity solution Fractal ID, also says it is behind the Transak exploit.
Quick Take Bank for International Settlements (BIS) report highlights tokenization’s benefits, including reduced transaction costs and faster transactions. Governance, legal, and liquidity risks are key concerns for central banks with tokenized assets. Major financial institutions are trialing tokenized deposits for improved settlement efficiency and programmability.
