Market Digest

CW 27. Robinhood expands in crypto: commission-free stock tokens on ARB chain, a Layer 2 blockchain, plus EU perpetual futures and staking. BlackRock’s iShares Bitcoin ETF now generates more fees than its S&P 500 fund. At ETHCC, Vitalik Buterin proposed three crypto security tests.

CW 26. The FHFA has directed Fannie Mae and Freddie Mac to evaluate crypto as a reserve asset in mortgage loan risk assessments. Coinbase will launch nano Bitcoin and Ether perpetual-style futures in the U.S. Circle’s stock hit a peak valuation exceeding USDC’s market cap.

CW25. Coinbase has obtained a MiCA license in Luxembourg, establishing it as its EU hub. Bybit plans to launch a Solana-based DEX called Byreal with CEX-DEX integration. KuCoin, amid regulatory pressure, steps up compliance by restricting non-KYC users and joining BitGo’s settlement network.

CW24. The SEC and CFTC offered contrasting tones on DeFi, with the SEC expressing support for innovation while warning against fraud. Coinbase introduced a Bitcoin rewards card and launched Coinbase Business. Meanwhile, ZKJ and KOGE tokens crashed after Binance revised Alpha Point rules.

CW23. Circle (CRCL) surged over 200% in its NYSE debut, reflecting renewed interest in stablecoins. Meanwhile, Singapore restricts crypto firms from serving overseas clients, as Hong Kong positions itself as a regional hub. JPMorgan will accept crypto ETFs as loan collateral.

CW 22. Alpaca Finance announced its shutdown, raising questions about the future of its smart contracts post-closure. FTX begins a second round of creditor repayments totaling $5B, with recovery rates up to 120%. Arkham has identified MicroStrategy’s BTC wallets, revealing $54.5B in holdings.