ETH's Blue Chips Level Up
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- 🟠 Coinbase Launches cbBTC on Ethereum & Base. The investment product is backed 1:1 in BTC held by Coinbase.
- 🐂 eToro Settles with SEC, Will Only Offer ETH, BTC & BCH Trading. The crypto exchange has also agreed to pay a $1.5 million fine.
- 👩⚖️ Judge Says CFTC Can't Kill Election Event Contracts. The CFTC's plan to regulate prediction markets like Polymarket is running into trouble with the law.
📸 Daily Market Snapshot: Capitalizing on WBTC's controversial Justin Sun deal, Coinbase has introduced its wrapped bitcoin product cbBTC. Coinbase stock outpaced the NASDAQ, climbing 3.65% today. The product is already garnering industry support over heavyweight WBTC, but does bringing more DeFi power to a publicly traded behemoth present unacceptable centralization risks to the sector?
| Prices as of 6pm ET | 24hr | 7d |
|
Crypto $2.04T | ↗ 1.1% | ↗ 3.6% |
|
BTC $57,823 | ↗ 0.9% | ↗ 3.1% |
|
ETH $2,344 | ↗ 0.2% | ↘ 0.8% |
|
ICP $8.48 | ↘ 2.4% | ↗ 17.7% |
The DeFi story is nothing short of remarkable.
From its early days of experimentation and speculative frenzy, DeFi has now matured into a cornerstone of the crypto ecosystem.
At the heart of this revolution are the blue chip lending and borrowing protocols – the pioneers that kickstarted the DeFi summer. They've faced black swans, proven product-market fit, and solidified positioning in the ecosystem.
Now, they're poised for the next phase of their growth. We're witnessing these blue chips expand their offerings, diversify revenue streams, and build for the future while remaining committed to the DAO ethos and Ethereum's security.
In this piece, we’ll dive into the latest developments in the world of DeFi blue chips. We'll examine their strategies, innovations, and ambitions for the future. By understanding their vision, we can get a glimpse of the next wave of growth that's shaping our industry.👇
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Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.
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