Market Digest

CW 41. WBETH, BNSOL, and USDE briefly depegged on Binance during a sharp market drop, prompting compensation to users. Chinese memetokens gained traction on BSC as Binance prepared UTF-8 support and launched Meme Rush. Meanwhile, Grayscale enabled ETH staking within its U.S. ETFs.

CW 40. MetaMask confirmed plans for a rewards program tied to LINEA, with $30M in incentives and benefits for long-time users. James Wynn transitions from Hyperliquid to Aster, hinting at a collaboration. Meanwhile, BTC and BNB reached new all-time highs, with BNB now ranking third by market cap.

CW 39. The CFTC is considering stablecoins as collateral in U.S. derivatives. In Korea, Naver plans to acquire Upbit’s operator Dunamu. Meanwhile, UXLINK disclosed an $11.3M breach, triggering token losses and a sharp price drop.

CW 38. Circle launched native USDC on Hyperliquid and became a direct HYPE holder, signaling deeper involvement in the ecosystem. Curve proposed Yield Basis, a new protocol to boost bitcoin liquidity with $60M crvUSD. Meanwhile, LMAX introduced BTC and ETH perpetual futures with up to 100x leverage.

CW 37. Native Markets won the bidding to issue Hyperliquid’s USDH stablecoin, outpacing offers from Ethena, Sky, Paxos, Frax, and Agora. Ethena’s USDe launched on Binance with collateral and Earn integration, raising liquidity questions. Bybit joined Sygnum’s off-exchange custody platform.

CW36. Ondo Finance launches tokenized U.S. equities on Ethereum for non-U.S. users, backed by regulated brokers. Coinbase unveils a new futures index combining top tech stocks, crypto stocks, and ETFs. Galaxy Digital tokenizes its equity on Solana via Opening Bell.