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A bipartisan discussion bill released by the US Senate Agriculture Committee grants the Commodity Futures Trading Commission (CFTC) authority to oversee spot trading of digital commodities: The proposal, which defined “digital commodities” broadly, still requires the agency to work collaboratively with the SEC to regulate digital assets. With the House of Representatives voting late Wednesday to re-open the government, legislators are now expected to return to working on crypto legislation through year-end.
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Winklevoss Capital backs Zcash treasury for Leap Therapeutics: The company announced this week it will change its name to Cypherpunk Technologies and launch a Zcash-focused digital asset strategy with proceeds from a $58.8 million private placement led by Winklevoss Capital.
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JPMorgan has officially rolled out its USD-denominated deposit token, JPM Coin (JPMD): The token offers near-instant settlement and major payment firms including Mastercard have begun carrying out test transactions. |
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Spot Solana ETFs recorded 10 consecutive days of net inflows, after drawing $200 million in their first week: Since the debut of the first US SOL ETF on October 28, the two funds have amassed roughly $342 million in total net inflows, though the start of the week posted comparatively small gains. |
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Strategy purchased an additional 487 BTC for just under $50 million at an average price of $102,557 per coin: The company’s holdings have now reached a total of 641,692 BTC, representing more than 3% of bitcoin’s 21 million supply. |
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Hardware wallet company Ledger is weighing a New York IPO or private fundraising round next year: Ledger has recorded record demand for its hardware wallets and has recorded revenue in the hundreds of millions of dollars this year so far.
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| Decentralized finance (DeFi) is a new financial framework consisting of decentralized blockchain protocols and underlying smart contract technology. DeFi, as it is most commonly known, makes it possible for users to access different types of financial products and services without the need for a centralized authority. Here, we examine some of the ways DeFi is changing our financial world and discuss a few of its key characteristics. |
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