Utonic, an emerging restaking protocol on The Open Network (TON), received a $100-million institutional commitment in total value locked (TVL) ahead of protocol launch. The TON-based restaking protocol received a $100-million commitment from firms including Mirana Ventures and Foresight Ventures. The protocol aims to contribute to TON’s security and decentralization, according to Lemon Lin, co-founder…

Gotbit Hedge Fund is a performance-focused market maker, supporting the growth of the memecoin ecosystem by offering liquidity solutions and advising on project sustainability. In 2024, the memecoin market has become one of the fastest-growing sectors in the crypto space. What started as a lighthearted, community-driven trend has evolved into a bustling ecosystem where traders and developers…

Hong Kong’s Securities and Futures Commission (SFC) has sought opinions from industry participants on whether to introduce a new licensing regime for cryptocurrency over-the-counter (OTC) services. The new regime would see SFC, the securities and futures markets regulator, working with the Customs and Excise Department (C&ED) to supervise the companies offering crypto OTC trading services….

The creators of the Bitcoin scaling solution Bitcoin Virtual Machine (BitVM) have floated the second iteration of their sidechain, dubbed “BitVM2,” and the BitVM Bridge, which they say now offers “major improvements” to the original system. In an Aug. 15 post to X, BitVM co-founder Alexei Zamyatin shared an overview of a new whitepaper that introduces a…

As of Aug. 15, EigenLayer, a restaking platform built on Ethereum, has the leading position in the restaking ecosystem, with a total value locked (TVL) of $12.9 billion. According to IntoTheBlock (ITB) data, EigenLayer TVL witnessed an 11% increase from $11.6 billion one week prior, indicating growth in the restaking sector. Restaking involves users repurposing their…

The first Bitcoin-related leveraged exchange-traded fund (ETF) has debuted in the United States in another significant development for institutional crypto adoption. The new leveraged MicroStrategy ETF, MSTX, seeks to provide 175% long daily targeted exposure to MicroStrategy. The ETF could help offer more leveraged exposure to Bitcoin, according to Sylvia Jablonski, the CEO of Defiance…

Decentralized finance protocols appear to be showing signs of recovery, with lending and borrowing platform Aave hitting a new record in weekly active borrowers. In a post on X on Aug. 14, Aave founder Stani Kulechov reported that the lending and borrowing protocol has reached around 40,000 active weekly borrowers, eclipsing the previous high in late 2022. Data…

Popular decentralized finance (DeFi) wallet MetaMask has partnered with Mastercard and digital payments company Baanx to launch a self-custody debit card pilot program for select users in the United Kingdom and the European Union, with plans to roll out the product in other regions over time. The card allows users to self-custody their funds until…

The first Solana spot exchange-traded fund (ETF) could officially debut for trading on the Brazilian stock exchange, ahead of all the other global jurisdictions. The first spot Solana ETF is currently awaiting approval by the Brazilian stock exchange, B3, after it was reportedly approved by Brazil’s Securities and Exchange Commission (CVM) on Aug. 7. According to Manthan Dave,…

Coinbase country director for Canada Lucas Matheson took the stage at the Blockchain Futurist Conference on Aug. 13 to discuss the state of Canadian digital asset regulation and promote the newly expanded Stand With Crypto initiative. Matheson argued that although Canada’s regulatory framework is already robust, the country still needs to modernize crypto regulation. The…