Block joined the S&P 500 on July 23, replacing Hess after the oil producer’s $54 billion acquisition by Chevron, a reshuffle that sent Block’s stock up 10.7% from the July 18 open of $72.01 to $79.69 by press time. The company announced the addition on July 18, prompting investors to position ahead of index-tracking funds…
VERT, a Brazilian fund management and securitization firm, has launched a blockchain-based platform on the XRP Ledger (XRPL) to modernize the issue and management of agribusiness credit. According to a July 23 statement, the platform’s first significant transaction involves the tokenization of a BRL 700 million (~$130 million) Agribusiness Receivables Certificate (CRA), marking a substantial…
The very first US spot Ethereum exchange-traded funds (ETFs) launched on this day one year ago and have come a long way. With over $8 billion in total net inflow, rising investor momentum, and potential staking on the way, the future seems bright for this vehicle, analysts argue. ETFs are considered a highly useful vehicle…
Binance founder Changpeng “CZ” Zhao has pointed out that CoinMarketCap’s Altcoin Season Index is starting to climb, predicting that an altcoin rally might be imminent. Key Takeaways: Binance founder CZ says the Altcoin Season Index is ticking up, hinting at a possible FOMO-driven rally. The index has climbed to 51, up from 16 last month,…
Out of the 58 entities holding Ethereum (ETH) in their treasuries, the 10 public-listed companies have roughly $3.2 billion, equivalent to 865,265 ETH. According to Strategic ETH Reserve data, four publicly listed companies recently added 113,300 ETH to their holdings. Furthermore, the number of entities jumped from 40 in June to 58 as of July…
Citadel Securities has urged the U.S. Securities and Exchange Commission to proceed cautiously with any initiatives that would accelerate the adoption of tokenized securities, warning that a hasty approach could disrupt existing capital markets and marginalize institutional investors. The market-making giant submitted its recommendations in a formal letter to the SEC’s Crypto Task Force, arguing…
Western Union is piloting stablecoin remittance settlements in select corridors across South America and Africa, part of a closed-loop test announced by CEO Devin McGranahan during interviews on July 22. The company is also evaluating the development of a consumer-facing crypto wallet, signaling broader ambitions to integrate blockchain-based infrastructure into its global money transfer operations….
Decentralized prediction market Polymarket has acquired Florida-based derivatives exchange QCX and its affiliated clearinghouse QC Clearing — together known as QCEX, for $112 million. Key Takeaways: Polymarket acquired QCEX for $112M to gain a regulated foothold in the US market. The deal follows the closure of a federal investigation that had hindered Polymarket’s US expansion….
Coinbase has launched CFTC-regulated perpetual futures for US retail traders, providing an onshore alternative to offshore derivatives giants. Key Takeaways: Coinbase has launched CFTC-regulated nano BTC and ETH perpetual futures. The new products offer up to 10x leverage for US retail traders. Coinbase plans to expand its product lineup, targeting more cryptocurrencies. The launch introduces…
Western Union is positioning itself for a new phase of digital transformation, signaling strong interest in using stablecoins to modernize its global remittance operations. Key Takeaways: Western Union is exploring stablecoins to reduce remittance costs and improve service. The company is running settlement pilots and considering a crypto wallet. The GENIUS Act passage could pave…