Adontis Haskins

The CoinDesk 20 is currently trading at 1946.9, up 2.2% (+41.65) since yesterday's close. Nineteen of 20 assets are trading higher. Leaders: AVAX (+6.0%) and NEAR (+4.6%). Laggards: LTC (-1.2%) and XRP (+0.2%). #CoinDesk20 #coindeskindices #index #indices

1

The Crypto flywheel! ⚙ 🔝 ETH's ETF and the UK's stable coin have broken two more regulatory barriers and are fueling mainstream adoption by retailers and brands. As part of this movement, crypto cashback is becoming a notable feature, enhancing engagement with a broader audience. This momentum encourages regulators to remove additional regulatory barriers, creating a positive flywheel for innovation! 🚀

11

Time Finance announces Q1 trading update (AIM:#TIME) 📈 Record quarterly revenues, net tangible assets & lending book growth VS Q1 2023, including: 💸 PBT up 46% to £1.9m 📖 Own book origination up 9% £22.1m 💰 Gross lending-book up 17% to £205.3 Edward Rimmer, Chief Executive Officer commented: "As we enter the final year of our four-year medium-term strategic plan, I am very encouraged that the first quarter of the new financial year continues to deliver increased growth in our lending book, our Net Tangible Assets, our Revenues and our Profit Before Tax. The lending book has now seen consistent increases for thirteen consecutive quarters, reflecting the demand for our multi-product offering and the value placed on our first-class customer service by UK businesses seeking access to finance. Pleasingly, our net arrears and net bad debt write-offs are well within our target ranges and underline our commitment to responsible and sustainable lending. The Board, therefore, retains real confidence that the Group is positioned for further growth and will build increased value for its shareholders over time.   "The continued strong performance highlights the benefits of the four-year plan we implemented in 2021. With an eye firmly on the future and building on this momentum, management is focused on establishing a new medium-term strategy that will commence from June next year and guide the Company's next period of growth. I look forward to updating our shareholders on that plan towards the end of this calendar year." https://lnkd.in/efdamPNn

1

The CoinDesk 20 is currently trading at 1835.81, down 0.7% (-12.21) since yesterday's close. Eight of 20 assets are trading higher. Leaders: MATIC (+10.6%) and LINK (+2.7%). Laggards: ICP (-3.6%) and RNDR (-3.6%). #coindeskindices #coindesk20 #cryptomarkets #marketanalysis #digitalassets

1

SEC Chair Gary Gensler suggests that the approval of S-1 forms for Ethereum ETFs will take time, following the recent approval of 19b-4 forms. The prolonged finalization phase may delay the ETFs from commencing trading. The SEC has instructed issuers to submit draft S-1 filings, and Gensler's comments indicate a potentially slow approval process. The iterative process, expected to take several weeks or months, will involve the SEC giving feedback and prompting further changes. The arrival of Ethereum ETFs is anticipated to lead to significant capital inflow and decrease the circulating Ethereum supply, potentially driving prices to new all-time highs. The SEC's detailed review process reflects a prudent approach to regulating these financial instruments, while the swift actions of companies like BlackRock demonstrate market demand and readiness for these new investment vehicles.

1

Stablecoin issuer Paxos to acquire Finland's Membrane Finance for EU access - Ledger Insights - blockchain for enterprise https://buff.ly/3Zgv6Iz Stablecoin issuer Paxos is set to acquire Finland-based Membrane Finance, aiming to enhance its market reach within the European Union. This strategic move is expected to facilitate Paxos' access to the EU's financial ecosystem, allowing them to leverage Membrane Finance's local expertise and infrastructure. The acquisition underscores Paxos' commitment to expanding its blockchain services and stablecoin offerings across European markets, aligning with regulatory requirements. Such expansions are vital for blockchain companies aiming to establish a robust presence in diverse geographic regions. #BlockchainInnovation #Stablecoins

1

Tokenization firm Securitize has introduced a new way to get liquidity from real-world assets while still earning yield via its novel "sToken.” The token architecture is the product of collaboration between the company’s Securitize Credit subsidiary and "synthetic dollar" project Elixir, the companies announced. ℹ️ 💡 Based on #Ethereum’s ERC-4626 token standard — an interface for launching “vaults” that represent a shared interest in yield-bearing tokens — sTokens will provide a way for institutional investors holding RWAs issued by Securitize to convert these assets into deUSD, Elixir’s decentralized U.S. dollar token, while still earning yield from their investments. In other words, the joint “deUSD #RWA Institutional Program” program opens up a path for token holders to put their assets to work, specifically in the form of a “composable” token that can be put to work across the #DeFi sector, without losing out on capital generated by tokens like BlackRock's tokenized #Treasuries fund #BUIDL. “For the first time ever, holders of tokenized real-world assets can natively use their assets onchain in DeFi, accessing unified liquidity via deUSD,” Elixir Network founder and CEO Philip Forte said in a statement, noting deUSD provides a solution for Securitize users who want to put their capital to work but may be hampered by legal considerations around BUIDL. More details in the The Block article by Daniel Kuhn. #AltBanking The leading aggregator, bringing the best actionable news, information and opportunities in this rapidly evolving ecosystem right to you. Share and Follow us to stay up-to-date! #finance #fintech #banking #innovation #digitalassets #Web3 #investment #TradFi #digitalfinance #tokenisation #money #market #fund #tokenization #Securitize #Elixir https://lnkd.in/e296qqmM

1

SEC Targets OpenSea: The Potential Implications for the NFT Market The Securities and Exchange Commission (SEC) has recently issued a Wells notice to OpenSea, the most prominent marketplace for non-fungible tokens (NFTs), signaling a potential lawsuit for securities law violations. This move marks a significant development in the SEC's ongoing scrutiny of the digital assets space, particularly as it relates to the burgeoning NFT market. https://lnkd.in/e7MKpFfR

1

Sky, previously known as MakerDAO, is a major player in the DeFi (Decentralized Finance) space. Recently, it announced plans to gradually remove wrapped Bitcoin (wBTC) from its collateral assets due to concerns related to its association with Tron founder Justin Sun. This decision is significant as wBTC plays a critical role in DeFi lending, with over $200 million in loans collateralized by the token on Sky's platform. Sky's governance token has also rebranded from MKR to SKY, making the token more accessible by offering a 1:24,000 conversion ratio, which aims to attract more participants. This change is part of a broader strategy to evolve its decentralized stablecoin ecosystem and improve accessibility for a wider audience. #BinanceTurns7 #defi #sky #mkr #justinsun

1

Stablecoin market cap has rebounded to $165 billion, yet its share of the total crypto market remains stable. According to a recent J.P. Morgan report, the stablecoin supply has grown in U.S. dollar terms, but its share of the total crypto market cap remains relatively unchanged. This indicates that the expansion of stablecoins is closely tied to the overall growth of the crypto market, driven by significant gains in assets like Bitcoin and Ether. With new products and clearer regulations, particularly in Europe, stablecoins are becoming more integrated into the financial ecosystem without overshadowing traditional cryptocurrencies.

8

Triton Liquid Fund is now live.    Triton Liquid is a digital asset hedge fund, which combines fundamental research with data analysis to invest in liquid tokens across the entire digital asset landscape. We have just been granted our In-Principal Approval from Abu Dhabi Global Market (ADGM) for a Financial Services Permission. We chose to domicile in Abu Dhabi because it is rapidly emerging as a globally recognized center for digital asset innovation, with a progressive regulatory regime and pragmatic leadership. FJ Labs initially anchored this strategy with $30M USD. Since November, we have increased our market exposure from 20% to 100%.    We continue to believe that now is the optimal time to allocate to crypto, and that there are a number of tailwinds that make this year particularly attractive. More about our fund launch in the comments below.

13

2 Comments

Triton Liquid Fund discusses some of the factors that contribute to the large crypto market sell-off last week. TL;DR ➖ Geopolitical & Economic Factors: Rising tensions between Israel and Iran, U.S. political uncertainty, and fears of recession due to a 4.3% unemployment rate in July. ➖Tech Stock Decline: Weak Q2 2024 earnings led to a tech stock downturn, affecting overall market sentiment and contributing to the crypto sell-off. ➖Japan’s Policy Shift: Bank of Japan's interest rate hike caused a yen appreciation, disrupting global markets and contributing to crypto market pressure. ➖Leveraged Positions: Over $1 billion in leveraged positions liquidated, exacerbating the sell-off as forced liquidations occurred. ➖Supply Concerns: Government Bitcoin sales and asset distributions from bankruptcy cases like Mt. Gox are adding supply pressure to the market. Despite volatility, Triton remains optimistic, viewing the situation as an opportunity to strengthen its portfolio and maintain a bullish stance as the U.S. elections approach. Full newsletter in comments below.

2

2 Comments

The Awfis Space Solutions IPO (Initial Public Offering) continues to generate excitement as it enters its third day, May - New Post: Awfis IPO surges! Retail investors lead Day 3 rush https://buff.ly/4bTBnNF #marketnewsviews #awfisipo #awfisspacesolutions #investing #investmentopportunity #ipoexcitement #retailinvestors #stockmarketsurge

2

Coinbase Says Market 'Underestimating' Timing And Odds Of Spot Ethereum ETF Approval 🤔 In a recently published report, Coinbase institutional research analyst David Han stated that the market may be underestimating the chances for a potential approval of the spot Ethereum exchange-traded funds. Notably, the SEC has key deadlines coming up on May 23 and May 24 to decide whether to approve the applications for spot Ethereum ETFs submitted by VanEck and ArkInvest/21 Shares, respectively. Han stated, We think the market may be underestimating the timing and odds of a potential approval. Ether may yet have the potential to surprise to the upside in the coming months [and] does not appear to have major sources of supply-side overhangs such as token unlocks or miner sell pressure.

1