Welcome to another electrifying edition of Crypto Weekly Digest, where we bring you the hottest trends, biggest moves, and most groundbreaking innovations in the crypto space. This week, we celebrate Solana’s fifth anniversary, witness Hong Kong’s fintech boom, and explore the rise of tradable tokenized assets.
From Ethereum’s gas fee relief to Bitcoin lighting up the sky over Austin, and from Ripple’s custody ambitions to South Korea’s cautious approach to reserves, the crypto landscape is evolving at breakneck speed. Whether you're a seasoned trader or just getting started, we’ve got you covered with the latest insights and analysis.
Buckle up—this week’s stories are as thrilling as ever! 🎢🔥
Launched amid the COVID-19 chaos in March 2020, Solana has grown into a blockchain behemoth, processing over 408 billion transactions and nearing $1 trillion in decentralized exchange value. Dubbed an "Ethereum killer," it weathered the 2022 crypto winter and FTX's meltdown, only to bounce back stronger. The 2023-2024 memecoin mania saw Solana's ecosystem buzzing with quirky tokens like Bonk (BONK) and Fartcoin, even propelling the Official Trump (TRUMP) token to a $14.6 billion market cap in just two days. Not stopping there, Solana dialed up the innovation by launching the "Solana Saga" crypto phone, blending mobile tech with blockchain brilliance. Now, as it celebrates its fifth birthday, Solana stands tall, even catching the eye of the U.S. government for its Digital Asset Stockpile.
Hong Kong's fintech scene is on fire, with blockchain companies multiplying like rabbits—up 250% since 2022! This digital dynamism is set to catapult the market to a whopping $606 billion by 2032. Riding this wave, RedotPay, a crypto payment platform, just scored a cool $40 million in Series A funding. Their mission? To make spending crypto as easy as pie, with Visa cards that let you splash your digital cash at ATMs or online. With such rapid growth and innovation, Hong Kong is solidifying its status as a global fintech powerhouse.
In a move set to jazz up the financial world, Ethena Labs and Securitize are launching Converge, an Ethereum-compatible blockchain aiming to bridge traditional finance (TradFi) with decentralized finance (DeFi). This platform will allow retail investors to access standard DeFi applications, while also offering institutional-grade services, making it a versatile hub for various financial activities. With partners like Pendle, Aave Labs' Horizon, Ethereal, Morpho, and Maple Finance on board, Converge is gearing up to be a bustling ecosystem. Ethena's native token, ENA, will play a crucial role in securing the network, and their stablecoins, USDe and USDtb, will serve as the network's gas tokens, ensuring smooth transactions. As the lines between traditional and decentralized finance blur, Converge stands ready to lead this financial fusion.
In a dazzling display that merged technology with cryptocurrency, Gemini orchestrated a record-breaking drone show over Austin, Texas. Deploying 1,000 drones, they illuminated the night with a massive Bitcoin logo, celebrating the creation of the US Strategic Bitcoin Reserve. This aerial extravaganza not only set a new Guinness World Record but also showcased the growing mainstream appeal of digital assets. As drones danced in unison, onlookers were treated to a futuristic spectacle, symbolizing Bitcoin's ascent into the public eye. https://youtu.be/KofJK3jDtD4
After 15 years of brainy endeavors at MIT, Professor Muriel Médard has unleashed Random Linear Network Coding (RLNC) to jazz up the Web3 scene. Think of RLNC as chopping a puzzle into tiny bits, mixing them up, and sending them out; even if some pieces go MIA, you can still solve the puzzle! This nifty trick promises to supercharge blockchains by zipping data faster, trimming bandwidth, and making networks more reliable. With big names like Polygon's co-founder Sandeep Nailwal backing it, RLNC might just be the secret sauce Web3 needs to scale up or risk fizzling out.
DigiFT has teamed up with asset management giant Invesco to launch the iSNR token, a digital representation of Invesco's US Senior Loan Strategy fund, now live on the Arbitrum network. This move brings private credit strategies into the decentralized finance (DeFi) space, allowing investors to purchase tokenized shares using stablecoins like USDC and USDt. With a minimum investment of $10,000, the iSNR token offers a regulated, on-chain private credit option for DeFi applications, decentralized autonomous organizations (DAOs), and institutional investors. This collaboration highlights the growing trend of real-world asset tokenization, bridging traditional finance with the burgeoning DeFi ecosystem.
Ripple Labs is making waves again, filing a trademark for "Ripple Custody," signaling a dive into crypto storage services. The application outlines plans for financial custodial services and downloadable software to securely stash your digital treasures, be it crypto, fiat, or other virtual currencies. This move hints at Ripple potentially launching its own crypto wallet, aiming to diversify beyond its payment solutions. With the growing demand for secure digital asset management, Ripple seems ready to join the ranks of custodians like Coinbase and BNY Mellon.
Robinhood has unveiled a new prediction markets hub within its app, allowing users to bet on outcomes like the Federal Reserve's interest rate decisions and the NCAA's March Madness tournaments. Partnering with Kalshi, a CFTC-regulated predictions exchange, this move aims to diversify Robinhood's offerings beyond traditional stock trading. Users can trade event contracts, with payouts based on the accuracy of their predictions, blending elements of trading and wagering. This initiative reflects the growing popularity of prediction markets, offering a novel way for users to engage with financial and sporting events.
Circle, the mastermind behind the stablecoin USDC, is setting sail for Bermuda's regulatory shores by bringing its recently acquired Hashnote Tokenized Money Market Fund (TMMF) under the island's Digital Assets Business Act (DABA) license. This $900 million treasure trove, known for its USDY token, is poised to integrate seamlessly with USDC, aiming to make USDY the go-to yield-bearing collateral on crypto exchanges. By anchoring in Bermuda's crypto-friendly waters, Circle is navigating the vast ocean of real-world asset tokenization, a market that's been dubbed a $30-trillion opportunity. As traditional finance and blockchain currents converge, Circle's voyage could chart a new course for digital asset management.
MoonPay, the crypto payments trailblazer, has bolstered its arsenal by acquiring Iron, an API-centric stablecoin infrastructure maestro. This strategic move empowers businesses to accept stablecoin payments that are both instantaneous and cost-effective. Moreover, with Iron's technology, companies can now manage multicurrency treasuries in real-time and channel funds into yield-bearing assets like U.S. Treasury bonds. This acquisition marks MoonPay's second high-profile deal this year, following its January purchase of Helio, a Solana-based blockchain payment processor. With these enhancements, MoonPay is solidifying its position at the forefront of the stablecoin revolution, offering enterprises, fintechs, and global merchants a robust platform for seamless, programmable payments.
Ethereum users are breathing easier as gas fees have plummeted by a whopping 95% since last year's Dencun upgrade. Back in March 2024, average fees were around 72 gwei, making simple swaps cost a hefty $86. Fast forward to today, and those fees have dropped to just 2.7 gwei, with swaps costing a mere $0.39. This dramatic decrease is thanks to the Dencun upgrade, which combined the Cancun and Deneb updates to boost scalability and cut transaction costs. However, it's not all sunshine and rainbows; despite the lower fees, Ether's price has taken a 53% dive over the same period, reflecting broader market challenges.
Offchain Labs, the creators behind Ethereum's layer-2 network Arbitrum, have teamed up with the Arbitrum Foundation to birth Onchain Labs—a new incubator program designed to supercharge the development of decentralized applications (DApps) on Arbitrum. This initiative aims to nurture "innovative and experimental" projects by offering product and go-to-market guidance, though hands-on engineering support isn't part of the package. A standout feature of Onchain Labs is its commitment to fair launches, steering clear of the zero-sum game mentality that's been creeping into the crypto space. By fostering equitable project rollouts, they're championing a win-win scenario for all ecosystem participants. As the number of layer-2 solutions continues to balloon, Onchain Labs is on a mission to enrich Arbitrum's DApp landscape, ensuring it remains a vibrant and cohesive community.
In a move that's turning heads Down Under, Australian crypto broker Swyftx is set to acquire New Zealand's Easy Crypto, forming a formidable Oceania crypto alliance. Swyftx CEO Jason Titman sees this merger as a timely maneuver, especially with the recent pro-crypto policy shifts in the United States under President Trump's administration. He believes these changes will usher in a wave of liquidity and encourage other nations to establish clear crypto regulations. Post-acquisition, both platforms will operate independently while plotting their integration strategy, boasting a combined workforce of nearly 200 employees based in Brisbane, Australia. This consolidation reflects the maturing crypto market, where strong regional and global players are emerging to rival established incumbents.
Ripple has secured a landmark license from the Dubai Financial Services Authority (DFSA), becoming the first blockchain-enabled payments provider authorized to operate within the Dubai International Financial Centre (DIFC). This approval allows Ripple to offer regulated crypto payment services across the United Arab Emirates, tapping into the region's $40 billion remittance and $400 billion international trade markets. Following the announcement, XRP's price experienced a notable uptick, reflecting market optimism. This development not only strengthens Ripple's presence in the Middle East but also showcases Dubai's commitment to fostering innovation in the crypto space.
Investment firm Bernstein has given Coinbase a bullish nod, predicting its stock could soar over 64% to hit $310. This optimism stems from the US Administration crypto-friendly stance, including plans for a U.S. Bitcoin reserve and aspirations to make America the "crypto capital of the world." Bernstein analyst Gautam Chhugani highlights Coinbase's dominant position, offering services akin to a "universal bank" in the blockchain realm. With regulatory clarity on the horizon, Coinbase is poised to ride this bullish wave, blending traditional finance with the digital future.
Microsoft's security sleuths have uncovered a crafty new threat dubbed StilachiRAT—a remote access trojan (RAT) with a penchant for pilfering digital treasures. This sneaky malware targets 20 popular cryptocurrency wallet extensions on Google Chrome, including MetaMask, Coinbase Wallet, and Trust Wallet. Once it wriggles into your system, StilachiRAT can swipe credentials, monitor your clipboard for sensitive data, and gather system information—all while staying under the radar by clearing event logs and dodging sandbox environments. Discovered in November 2024, it's not widespread yet, but crypto enthusiasts should stay vigilant. To keep your digital coins safe, ensure your antivirus software is up-to-date and be cautious with unsolicited downloads.
South Korea's central bank, the Bank of Korea (BOK), has firmly declined the notion of adding Bitcoin to its foreign exchange reserves, citing the cryptocurrency's notorious volatility. Officials highlighted that Bitcoin's wild price swings could lead to skyrocketing transaction costs when converting it to cash, making it an unreliable reserve asset. Moreover, the BOK pointed out that Bitcoin doesn't meet the International Monetary Fund's criteria for reserve assets, which emphasize liquidity and stability. This cautious stance comes despite global discussions on integrating cryptocurrencies into national reserves, with some countries exploring such possibilities.
REX Shares has unveiled the Bitcoin Corporate Treasury Convertible Bond ETF (BMAX), a pioneering fund that lets investors tap into convertible bonds from companies embracing Bitcoin in their treasuries. Leading this charge is Strategy (formerly MicroStrategy), with its bonds making up a hefty 81% of BMAX's holdings. This ETF offers a cocktail of bond stability and a dash of Bitcoin's zest, aiming to attract those curious about crypto without diving in headfirst. By bundling these bonds into an ETF, REX simplifies access for investors, blending traditional finance with the digital currency realm.
Bolivia's state-owned energy company, Yacimientos Petrolíferos Fiscales Bolivianos (YPFB), is steering into the crypto lane to tackle its fuel import woes. Facing a shortage of U.S. dollars and dwindling natural gas exports, YPFB plans to use cryptocurrency for purchasing fuel, aiming to keep the nation's gas stations humming. While the crypto pump isn't flowing just yet, the infrastructure is revving up, signaling a shift in Bolivia's financial gears. This move mirrors strategies by neighbors like Venezuela and Argentina, who have also turned to digital currencies to navigate economic potholes. As Bolivia fuels up with crypto, it's clear the digital highway is becoming a popular route for countries facing fiscal roadblocks.
Solana's Futures Debut: CME Launches New Crypto Contracts 🚀
The Chicago Mercantile Exchange (CME) has expanded its cryptocurrency offerings by introducing Solana (Happy Birthday! 🎂) futures, providing institutional investors with a regulated avenue to gain exposure to this prominent blockchain platform. On the first trading day, March 17, these futures contracts saw a notional volume of approximately $12 million, marking a significant milestone for Solana's integration into mainstream finance. While this initial volume is modest compared to the debuts of Bitcoin and Ethereum futures, it reflects a growing institutional interest in diversifying crypto assets. The introduction of Solana futures not only enhances the cryptocurrency's legitimacy but also paves the way for potential exchange-traded funds (ETFs) linked to SOL in the future.
Canary Capital is making headlines by filing for the first-ever exchange-traded fund (ETF) linked to Sui (SUI), the native token of the Sui Network. This marks the firm's sixth crypto ETF filing with the U.S. Securities and Exchange Commission (SEC), following proposals for Solana, Litecoin, XRP, Hedera, and Axelar ETFs. The proposed Canary SUI ETF aims to provide investors with direct exposure to SUI's spot price, offering a regulated avenue to participate in the token's performance. This move comes amid growing institutional interest in diversified digital asset products, reflecting the evolving landscape of cryptocurrency investments.
Global investment manager VanEck has filed with the U.S. Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) that tracks Avalanche's native token, AVAX. This proposed VanEck Avalanche ETF aims to mirror AVAX's price performance by holding the token directly, providing investors with a regulated avenue to gain exposure to the Avalanche network without the complexities of direct token ownership. This move underscores the growing institutional interest in altcoins beyond Bitcoin and Ethereum, as asset managers seek to capitalize on the expanding cryptocurrency market.
Xapo Bank has rolled out a new service allowing long-term Bitcoin enthusiasts to secure US dollar loans of up to $1 million without parting with their precious BTC holdings. By using Bitcoin as collateral, clients can access cash while their crypto remains safely tucked away in Xapo's vault, thanks to institutional multiparty computation (MPC) custody. Unlike some other lenders, Xapo promises not to rehypothecate—or reuse—your Bitcoin, keeping it securely in place. With flexible repayment terms ranging from 30 to 365 days and no penalties for early payoff, this offering is tailored for those who want liquidity without selling their digital gold. However, U.S. residents will need to sit this one out, as the service isn't available stateside.
Apptronik, the Texas-based humanoid robotics company, has successfully closed an oversubscribed $403 million Series A funding round. The round saw participation from prominent investors, including ARK Invest, Mercedes-Benz, Japan Post Capital, and Google. This substantial investment aims to accelerate the production and deployment of Apptronik's AI-powered humanoid robot, Apollo, designed to collaborate thoughtfully with humans across various industries. The funding reflects strong market demand and investor confidence in the transformative potential of embodied artificial intelligence.
Google's Gemini AI assistant just leveled up with two nifty features: Canvas and Audio Overview. Canvas is your new interactive playground, perfect for drafting documents or coding up a storm, all while collaborating with Gemini in real-time. Need to tweak a paragraph's tone or see how your HTML code renders? Canvas has got you covered.
On the flip side, Audio Overview transforms your documents into podcast-style discussions between two AI hosts. Imagine your class notes or research papers narrated to you during your commute—pretty slick, right? Just upload your file, and let Gemini do the talking.
Both features are rolling out globally, with Audio Overview currently chatting away in English, but more languages are on the horizon.
Graphite, the AI-driven code review startup, has secured a hefty $52 million in Series B funding, led by Accel and joined by heavy hitters like Anthropic's Anthology Fund, Menlo Ventures, and Shopify Ventures. Founded in 2020 by ex-Facebook, Airbnb, and Google engineers, Graphite pivoted from mobile tools to revolutionizing code reviews. Their platform leverages AI models from Anthropic and OpenAI to flag errors, suggest code changes, and even auto-fix bugs. With clients like Shopify, Snowflake, and Figma on board, and a 20x revenue boost in 2024, Graphite is now rolling out 'Diamond,' a standalone AI tool designed to catch coding bugs automatically. This fresh capital injection is set to fuel product development and team expansion, keeping Graphite at the forefront of AI-assisted programming.
Arcade, an AI infrastructure startup co-founded by former Okta executive Alex Salazar and ex-Redis engineer Sam Partee, has raised $12 million in funding from Laude Ventures, the investment fund launched by Perplexity co-founder Andy Konwinski. Initially aiming to develop AI agents, Arcade pivoted to create a tool-calling platform that enhances AI agents' functionality by securely integrating them with various services and data sources. This approach addresses the limitations of AI agents that rely solely on public data, enabling them to perform more complex tasks effectively. The funding will support Arcade's mission to improve AI agent performance and integration capabilities.
Nym Technologies has unveiled NymVPN, a decentralized virtual private network (dVPN) that promises to keep your online activities as elusive as a ninja in the night. Launched on March 13, this service utilizes Nym's "mixnet" technology to shuffle and encrypt your data packets, adding a sprinkle of fake data to baffle even the most determined snoopers. Unlike traditional VPNs that might keep logs or know your IP address, NymVPN ensures that no metadata can be traced back to you, making it a formidable shield against government, corporate, and AI surveillance. In a world where privacy is increasingly under siege, NymVPN emerges as a beacon for those seeking to keep their digital footprints off the radar.
Meta's open-source AI model family, Llama, has achieved a significant milestone by surpassing 1 billion downloads, as announced by CEO Mark Zuckerberg. This accomplishment reflects a substantial increase from the 650 million downloads reported in December 2024, indicating a growing adoption of Llama models across various industries. Companies such as Spotify, AT&T, and DoorDash have integrated Llama into their operations, utilizing its capabilities for tasks like customer service, document review, and code generation. Despite this achievement, Meta's stock experienced a decline, closing at $582.36, possibly due to broader market factors affecting tech stocks. Meta remains committed to fostering an open-source AI ecosystem, with plans to release more advanced Llama models in the coming months.
🔹 That’s a Wrap – But the Crypto Revolution Never Sleeps! 🌍🔥 🔹
Stay ahead of the game by keeping an eye on these trends, innovations, and regulatory shifts. We’ll be back next week with more market-moving updates, game-changing partnerships, and tech breakthroughs.
Until then, keep stacking, stay informed, and embrace the future of finance! 🚀
