tl;dr
• Arthur Hayes asserts Tether's dominance in stablecoins stems from early network effects via Hong Kong/China banking shutdowns, with distribution access to exchanges, Web2, and banks as survival keys for new issuers.• JPMorgan met the SEC to discuss blockchain integration in capital markets• Nemo L...
• Arthur Hayes asserts Tether's dominance in stablecoins stems from early network effects via Hong Kong/China banking shutdowns, with distribution access to exchanges, Web2, and banks as survival keys for new issuers.
• JPMorgan met the SEC to discuss blockchain integration in capital markets
• Nemo Lion Group and Eyenovia allocated $650M in HYPE token reserves, with LGHL securing $600M and Eyenovia raising $50M, using BitGo for custody and considering Tokyo/Singapore listings.
• UK regulators urged global crypto rules to prevent dollar dominance, monitoring U.S. stablecoin legislation and emphasizing compliance to curb risks and foster innovation.
• 3iQ launched an XRP ETF (XRPQ) amid XRP network surges to 295,000 active addresses and Ripple’s ongoing SEC legal battle, with Ripple backing the fund.
• Ark Invest sold $100M in Circle shares amid market turmoil, liquidating 642,766 CRCL shares across ETFs, following Circle’s NYSE debut.
• Bitdeer raised $330M in convertible notes for data center expansion and mining, not Bitcoin purchases, despite a 7% stock drop and 1,351 Bitcoin holdings.
• FalconX aims for a 2025 IPO, expanding prime brokerage services, acquiring Arbelos Markets, and partnering with Standard Chartered and Cantor Fitzgerald.
• Arthur Hayes questioned James Wynn’s $99.5M Bitcoin bet, alleging it was speculative, while Hyperliquid faces challenges from U.S. exchanges entering perpetual trading.
• North Korea’s Lazarus Group laundered $5–10B in crypto via Tron’s Black U market, using malware scams targeting CeFi job seekers, signaling a “crime supercycle.”
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