💵MUSD Taps BlackRock's BUIDL To Back Stablecoin
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Products and technologies from DeFi and TradFi are stacking on top of one another, with Manta-based stablecoin MUSD leveraging BlackRock’s on-chain treasuries fund, BUIDL, for backing.
The end of Blur’s Season 3 incentives resulted in the recently-leading NFT marketplace giving up ground to OpenSea. After topping the rankings by NFT volume for more than a year, Blur was overtaken by OpenSea.
Stripe, the multinational payments giant, is deepening its crypto operations. After announcing a partnership with Coinbase, the company is ready to support USDC payments and fiat-to-crypto onboarding via Base.
Plus, Yei Finance surges to the top of Sei’s TVL rankings, and crypto assets trend downwards in spite of inflation easing in the U.S.
✍️ In today’s newsletter:
- MUSD looks to BUIDL for backing
- OpenSea reclaims top NFT marketplace ranking
- Stripe teams up with Coinbase
- Yei Finance TVL doubles in one week
- Digital assets tumble despite bullish inflation data
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📈 Markets in the last 24 hrs:
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💰Manta-Based MUSD Stablecoin Leverages BlackRock’s BUIDL For Backing
MUSD, the Manta-based stablecoin issued by Mountain Protocol, is now backed by BUIDL, the on-chain U.S. treasuries fund from BlackRock. MUSD will accrue yields from BUIDL’s underlying assets every month. BUIDL has emerged as the largest on-chain treasuries fund with $482 million since launching in March.
📈️OpenSea Claws Back Market-Share from Blur
OpenSea has once again emerged as the top NFT marketplace by trade volume for the first time in more than one year after overtaking Blur. The rankings shift follows the third season of incentives on Blur coming to a close.
🤝Stripe To Support Base Amid Coinbase Partnership
Stripe, a global payment firm that hosted $1 trillion in volume last year, is launching support for USDC on Base after inking a partnership with Coinbase. Stripe users will soon be able to use USDC on Base to execute crypto payouts to more than 150 countries and as a vehicle to on-ramp from fiat into digital assets.
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🚀Yei Finance Pushes Sei Network TVL Above $60 Million
Yei Finance has abruptly emerged as the largest DeFi protocol on Sei after weekly TVL growth of 122%. Yei’s meteoric growth was propelled by an incentives campaign rewarding lenders.
📊Crypto Markets Drop Despite Cooling U.S. Inflation
Digital assets pulled back in spite of data indicating inflation is slowing in the United States. The move extends a recent run of losses for altcoins, with MN Trading’s Michael Van de Poppe describing lower-cap cryptocurrencies as suffering a “significant bloodbath.”
🌍 ELSEWHERE
- Long Dormant Whale Sends $61M BTC to Coinbase, On-Chain Data Shows (CoinDesk)
- Kraken founder Jesse Powell donates $1 million to Donald Trump (The Block)
- Wall Street blends digital gold Bitcoin with physical gold in new ETF filings (CryptoSlate)
- US Government Sends $241 Million in Bitcoin to Coinbase: Arkham (Unchained)
🔥 TRENDING
- Unstoppable Domains Launches Marketplace Supporting ‘.com’ Tokenization
- Long-Awaited BLAST Token Drops At $420M Market Cap
- CertiK Accused Of Front-Running Bug Bounties Through Subsidiary
- DoJ Sentences HYDRO Founders In First Ruling That A Cryptocurrency Is A Security
- Blast Layer 2 Unveils Tokenomics Ahead of Airdrop
- Rainbow WalIet Introduces ETH Rewards Program
- “The Crypto Community Effectively Freed Julian Assange,” Says AssangeDAO Lawyer
- Crypto Markets Bounce After Rough Monday
- Republican Congressman Introduces Bill To Allow Federal Tax Payments in Bitcoin
- Arbitrum DAO Plans To Invest $29M Worth Of ARB Into On-Chain RWAs
- Mark Cuban Wants To Offload $100K In NFTs
- Solana Foundation Launches New Developer Tooling To Promote Mainstream Adoption
- TON Airdrop Season Is Here (You're Not Late)
- Former Certik Clients Question Security Firm’s Stronghold On Protocol Audits
- Crypto Markets Plummet on Mt. Gox Repayment Fears
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