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🏁Bitcoin Restaking Race Heats Up

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DeFi developers are competing to harness Bitcoin’s $1.2 trillion market cap for restaking. BounceBit’s new roadmap includes allowing third-party services to leverage its Bitcoin-based staking layer for security, while a flurry of protocols are using Babylon as Bitcoin restaking middleware.

Deutsche Bank is backing tokenization as the key to future-proofing legacy finance. The bank’s comments come as it launches new tokenization pilots as part of the Monetary Authority of Singapore’s Project Guardian.

A Twitter user claimed responsibility for last week’s Pump.fun exploit after purporting to have been arrested and let go on bail. They since claimed to have been admitted to hospital on mental grounds after a series of unhinged rants on Twitter.

Plus, MakerDAO plans to replace DAI with two new stablecoins, and crypto markets bounce as investors pile into Bitcoin ETFs.

✍️ In today’s newsletter:

  • Developers pile in on Bitcoin restaking
  • Deutsche Bank deepens tokenization trials
  • Purported Pump.fun exploiter reportedly hospitalized
  • MakerDAO to launch two new stablecoins
  • ETF inflows excite crypto bulls

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📈 Markets in the last 24 hrs:

TickerValue24h
Bitcoin$66,1517.44 %
Ethereum$3,017 4.68 %
Gold 1st Future$2,389 1.50 %
S&P 5005308.15 1.17 %
Arch Web32.09 7.62 %
Learn more about Arch Indices ,[object Object]%

🎬WATCH

Check out our latest interviews from the recent ETHDenver Buildathon. And watch our in-depth explainer on DeFi derivatives.

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🏇Web3 Teams Compete To Bring Restaking To $1.2T Bitcoin Ecosystem

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DeFi teams are competing to replicate the explosive growth generated by Ethereum’s restaking sector within the Bitcoin ecosystem.

A new roadmap from BounceBit aims to establish the project as the top “BTC restaking chain” by allowing third-party protocols to harness its Bitcoin-based staking layer for security. The news comes as many protocols are leveraging Babylon, a Cosmos-based chain allowing BTC stakers to secure Proof of Stake networks, as middleware for restaking products.

💡Deutsche Bank Says Tokenization Is The Future Of Financial Innovation

Deutsche Bank, a top global financial institution, is looking to tokenization to “future-proof” the legacy banking industry. “Asset servicers like Deutsche Bank will need to be able to effectively address the different chains that asset managers are likely to use for tokenization, in order to facilitate adoption and foster innovation,” Boon-Hiong Chan, Deutsche Bank’s Asia Pacific Head of Securities & Technology Advocacy, told The Defiant.

SPONSORED POST

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The Guru Network aims to integrate AI and blockchain technologies to enhance real-world business applications across multiple chains. This multi-chain AI compute layer utilizes the CCIP protocol for secure messaging and value transfer, positioning itself as a "Layer 3" solution. Key features include reliable off-chain data integration and automated business process management, which aims to reduce user error and streamline operations. The network facilitates an environment where developers, known as 'Gurus', can deploy AI-driven applications and workflows, enhancing both scalability and efficiency across supported blockchains. Incentives are offered for contributions to the network's growth and functionality, with a focus on fostering a collaborative ecosystem for both individual and enterprise-level participants.

READ MORE: Guru Network: Multi Chain AI Compute Layer

🚑Purported Pump.Fun Hacker Claims To Be In Hospital After Arrest and Release

Jarrett Dunn, a Twitter user identifying as the hacker behind the $1.9 million Pump.fun exploit perpetrated by a former employee last week, said they were arrested by U.K. police and released on bail. Dunn now claims to be in hospital over mental health concerns, with the news coming after publishing a series of unhinged Twitter rants. Dunn also claimed Pump.fun is planning to airdrop tokens to early users at an $80 million valuation.

🪙MakerDAO Founder Unveils Two New Stablecoins

MakerDAO’s founder, Rune Christensen, wants the protocol to replace its popular DAI stablecoin with two new stable tokens. The move would come as part of Maker’s ambitious Endgame overhaul.

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📈Crypto Markets Surge on Positive ETF Inflows

Digital assets have turned bullish, with Bitcoin trading above $67,000 for the first time in four weeks. The move comes as investors are against piling money into spot Bitcoin ETFs, with the funds boasting a weekly inflow of nearly $950 million.

🌍 ELSEWHERE

  • Genesis Set to Return $3B Customer Assets in Finalized Bankruptcy Liquidation Plan (CoinDesk)
  • Number of new Bitcoin wallets drops to lowest level since 2018 (The Block)
  • Kraken Denies Delisting Plans For Tether In Europe (CoinGape)

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