The Defiant

GM Defiers!

Fidelity, the multi-trillion asset manager, updated its spot Ether ETF filing outlining plans to stake a portion of its ETH. The news comes as analysts are downgrading their expectations for the SEC approving spot Ether ETFs next month.

Memecoins continue to make headlines, with the original image behind the DogWifHat meme token selling as an NFT for $4 million. The team behind the Solana memecoin, Slerf, accidentally burned $10 million worth of SELF and liquidity provider tokens.

Plus, Thorchain activity continues to soar, and Keyring minted a wrapped version of USDC for Nomura Asset Management.

✍️ In today’s newsletter:

Fidelity hopes to stake ETF Ether
DogWifHat NFT sells for $4M
Slerf memecoin accidentally burns presale assets
Thorchain hosts $100M in weekly loan flows
Keyring wraps USDC for Nomura

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	Ticker	Value	24h

Ticker	Value	24h
Bitcoin	$67,839	-0.86 %
Ethereum	$3,528	-3.18 %
Gold	1st Future$2,161 0.16	%
S&P 500	5149.42 0.63	%
Arch Web	32.90	-4.36 %
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🎬 WATCH

Check out our latest episode of Crypto With Cami recapping all of last week’s hottest headlines. Also watch our podcast with Kevin Owocki, co-founder of Gitcoin, and Meg Lister, GM at Gitcoin Grants Labs, to learn about Gitcoin’s new roadmap.

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💵 Fidelity Adds Staking To Spot Ethereum ETF Application

Fidelity wants to stake a portion of the ETH held by its prospective spot Ether ETF, with an updated SEC filing echoing similar plans from Ark Invest and Franklin Templeton. The news comes as analysts are casting doubt over the chances that the SEC will approve the funds next month, with lawmakers recently petitioning the SEC not to greenlight the spot Ether ETFs.

🐶 Renowned Crypto Trader GCR Acquires DogWifHat NFT for $4 Million

An auction for the image inspiring the recently surging DogWifHat memecoin closed at an enormous $4 million after initially getting listed for $500. The token was purchased by GiganticRebirth, the trader known for predicting the failure of Terra and winning a $10 million wager with the project’s founder.

🔥 Solana Memecoin SLERF Accidentally Burns $10 Million

Early backers of the Slerf memecoin were confronted by the news that the project’s founders burned $10 million worth of presale tokens and assets allocated for liquidity provision. “Guys I f*#ked up,” an excerpt from the team’s post announcing the incident, is now making the rounds as a popular web3 meme-slogan.

🪒 Thorchain Loans Spike With Weekly Flows Of $100M

DeFi degens have piled $100 million worth of assets into Thorchain after the cross-chain liquidity protocol raised its collateral limits. The flurry of activity follows a recent surge in trade volume and TVL on the protocol.

🔑 Nomura Subsidiary Laser Digital Tests USDC Transfer With Keyring Network

Laser Digital, an asset manager and venture firm backed by Nomura, the financial services giant commanding half a trillion dollars, is exploring wrapped USDC for permissioned trades.

🌍 ELSEWHERE

Judge slams SEC for ‘gross abuse of power’ in crypto case, imposes sanctions (Fortune)
Grab adds crypto top-ups to GrabPay via Triple-A partnership (Tech In Asia)
Bankrupt crypto lender Genesis to pay $21 mln to settle SEC charges (Reuters)