MAGA-Ugly?
We’re making today’s post free for all readers on Substack, happy reading!
On the one hand, Binance Denied It Helped Trump’s Crypto Venture—But A $2B Deal And A Presidential Pardon Have Lawmakers Asking Questions (Yahoo Finance) while there is Presidential filial devotion to DeFi Eric Trump Says The Future Of Finance Is Crypto (Yahoo Finance).
Meanwhile where Gemini lost profits due to IPO costs, Crypto-Focused Grayscale Reveals 20% Revenue Drop In US IPO Filing (Reuters)
Net Income $203.3 Million, -9.11%
Revenue $318.7 Million, -19.90%
…meaning its revenues don’t even have to do the IPO to already be in decline.
Another day another new prediction market as Fanatics Explores Launch Of Prediction Market With Crypto.com (FT) while Tether To Accelerate Push Into Commodity Lending With Cash, USDt Credit (TradingView News) is an interesting twist on trade finance and other items that have been neglected by banks for ages.
In product news, 21Shares Debuts Two Crypto Index Funds Offering Exposure To Bitcoin, Dogecoin And More (The Block) while Public Just Bought A Crypto Retirement Offering For $65 Million (Fortune) and Kraken Partners With Crypto Insights Group To Strengthen Institutional Access To Digital Asset Funds (Business Wire).
Regulated Stablecoins Offer Value Stability, Says MAS Chief Chia Der Jiun (The Straits Times) as over at FDIC, US Regulator Mulls Guidance For Tokenized Deposit Insurance, Stablecoins (Cointelegraph) and finally, BNY Launches Money Market Fund To Hold Reserves For US Stablecoin Issuers (Cointelegraph).
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