Weekly Recap in DeFi: New Developments and Trends

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by Giorgi Kostiuk

2 years ago

As the DeFi and crypto space continues to evolve at a rapid pace, staying updated on the latest developments and trends is crucial. Our weekly recap provides a concise yet comprehensive overview of the most significant news and trends in this evolving space.

Visa and FV Bank Launch New Cards

FV Bank and Visa announced the launch of new debit and corporate expense cards at Money 20/20 in Las Vegas. These cards enable users to spend both USD and cryptocurrencies like Bitcoin and Ethereum at Visa-supported locations worldwide.

Immutable Challenges SEC Claims

Blockchain gaming platform Immutable faces potential SEC enforcement due to alleged violations during IMX token sales in 2021. Immutable intends to challenge the SEC's claims, which have been criticized by industry voices, including SEC Commissioner Hester Peirce.

Reddit Sells Cryptocurrency Holdings

Reddit Inc. disclosed in a recent SEC filing that it sold most of its cryptocurrency holdings, primarily Bitcoin and Ethereum, netting nearly $6.9 million in the third quarter of 2024. Reddit stated that this move was aimed at bolstering its financial reserves.

These events highlight the importance of understanding and analyzing developments in the rapidly changing world of DeFi and cryptocurrencies. Stay updated with the latest news to gain a complete perspective on current trends in this dynamic field.

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Other news

Other Crypto Funds Experience Significant Withdrawals

Other cryptocurrency ETF categories, including Solana and XRP, recorded significant withdrawals, indicating a broader trend of selling pressure.

user avatarSatoshi Nakamura

MEGA Plans AI Marketplace Launch for December

MEGA is set to launch an AI inference marketplace in December, allowing customers to access services from various AI model providers.

user avatarNguyen Van Long

MEGA Reduces Workforce to Shift Focus to AI Products

MEGA has laid off 20 employees as part of a restructuring to expand into artificial intelligence, moving beyond its blockchain infrastructure.

user avatarKofi Adjeman

Institutional Withdrawals from Crypto ETFs Reach Over $1 Billion

Institutional demand for crypto ETFs has weakened significantly, with US spot Bitcoin ETFs experiencing over $1 billion in withdrawals for the second consecutive week.

user avatarJesper Sørensen

Ethereum Staking Hits Record Levels Despite Price Drop

Ethereum's staking rate has surged to an all-time high of 36.3% of total supply, even as the price of ETH has fallen to around $2,000.

user avatarRajesh Kumar

Jane Street Boosts Bitcoin ETF Holdings Amid Market Changes

Jane Street has significantly increased its stake in major Bitcoin ETFs, particularly in Fidelity's Wise Origin Bitcoin Fund, reflecting strong client demand and trading activity in the Bitcoin market.

user avatarLucas Weissmann

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