Crypto World Sees Major Developments in Regulation and Adoption
Last week was a significant period for the crypto industry,with notable events in regulation and institutional involvement. Here’s a summary of the key happenings.
Trump’s Crypto Gains
Former president Donald Trump disclosed a $57.4 million profit from World Liberty Financial. His personal crypto holdings are estimated between $1 million to $5 million, alongside gold stakes worth $250,000 to $500,000.
Cardano’s DeFi Boost
Cardano’s founder suggested investing $100 million in ADA tokens to enhance the platform’s defi ecosystem. This plan involves buying assets like Bitcoin and Cardano’s stablecoins.
SharpLink’s Ethereum Move
SharpLink Gaming, a marketing firm, bought 176,270.69 Ethereum (ETH), valued at about $463 million.This makes SharpLink the second-largest institutional ETH holder, following the Ethereum foundation.
SEC and Ripple’s Progress
The SEC and Ripple filed a motion to dissolve an injunction and release a $125 million penalty. Ripple woudl get $75 million back, while the SEC keeps $50 million.The SEC also reviewed Solana ETF applications.
Tether’s Diversification
Tether acquired a 31.9% stake in Elemental Altus Royalties corp., a precious metals company. This move diversifies Tether’s portfolio beyond crypto.
Strategy’s Bitcoin Play
Strategy traded its STRD securities on Nasdaq. The company also bought 1,045 Bitcoin, bringing its total holdings to around 582,000 BTC.
Ant Group’s Stablecoin Plans
Ant Group plans to apply for stablecoin licenses in Hong Kong, Singapore, and Luxembourg once regulations are in place.
Pudgy Penguins and NASCAR
The NFT collection Pudgy Penguins partnered with NASCAR,though details are still unclear.
Stripe’s Crypto Move
Stripe acquired Privy, a crypto wallet provider. Privy will remain autonomous under Stripe’s guidance.
Circle’s USDC Expansion
Circle launched USDC on Sam Altman’s World project. This follows Circle’s successful NYSE debut.
Polygon’s New Leadership
Sandeep Nailwal became the CEO of the Polygon Foundation, focusing on AggLayer, Polygon’s cross-chain liquidity protocol.
