✔️Weekly Recap: SEC Approves Spot Bitcoin ETFs

Happy weekend Defiers!

Spot Bitcoin ETFs are finally available in the United States after the SEC approved offerings from 11 issuers on Wednesday.

Though the decision was widely anticipated, the week began with drama as the SEC's X account was 'compromised,' posting about the approval a day earlier. A bout of volatility ensued amid the ETHBTC ratio slumping to a multiyear low.

On Friday, BlackRock chief Larry Fink sparked a rally in ETH after saying that he "sees value in an Ethereum ETF."

Paypal has been making inroads into DeFi with its PYUSD stablecoin growing 70% in the past month. Meanwhile, Liquity's LUSD spiked above $1 after a large investor repaid $20M of debt.

In other Web3 news, Fox announced the beta release of an open-source protocol built on Polygon, to help media companies prove the provenance of content.

And in this week's podcast, Tegan Kline is joined by Jason Bailey, Co-Founder and CEO of ClubNFT, which provides solutions to help collectors analyze, monitor, and protect their NFT collections.

Enjoy!

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Podcast & Interviews

Accidentally Airdropping $300 Million: NFT OG Jason Bailey

Tegan Kline is joined by Jason Bailey, Co-Founder and CEO of ClubNFT.

ClubNFT provides solutions to help collectors analyze, monitor, and protect their NFT collections. Jason is an O.G. in the NFT space and today he shares many stories from back in the day. He was an early collector on SuperRare. He created the first NFT IRL drop at Christie's art event back in 2018. He'd been Red Pilling traditional art collectors before the term NFT was even coined.

In our conversation we get into Jason's background in both art and tech, his views on generative art, as well as a deep dive into ClubNFT and the solutions they help solve.

But first, Jason tells us why he's passionate about the NFT space.

Friday

BlackRock CEO Larry Fink Sees Value in an Ethereum ETF Larry Fink says that the industry is taking steps towards tokenization.
LUSD Briefly Spikes to $1.03 After Trading Below Peg Since July Liquity’s stablecoin has seen its market capitalization dwindle by half in the past six months as investors seek higher DeFi yields.
Spot Bitcoin ETFs Drove Over $600M in One Day, Preliminary Data Show Bitwise led the way attracting the most flows out of the 11 funds that started trading.
‘Quantum Cats’ Ordinals Collection Pays Homage To Satoshi The collection of 3,333 images will change over time thanks to a technique called Evolving Inscriptions.
The Year Of The Fourth Bitcoin Halving What it means and how the Bitcoin halving could affect the crypto markets.

Thursday

Bitcoin ETFs Daily Trading Volume Crosses $6B Newly approved ETFs account for over $2.2B while GBTC and BITO see over $4B of trades.
PayPal’s Stablecoin Grows by Over 70% in 30 Days PYUSD has two pools on Curve and a proposal is underway to add it as collateral on Aave.

Wednesday

SEC Approves Spot Bitcoin ETFs in Landmark Decision All 11 issuers applying to list were approved. This decision marks a significant milestone for the cryptocurrency industry, as it opens up new avenues for investors to gain exposure to the world's most popular digital currency.
DFINITY’s Dominic Williams Says Enterprises Will Be Key for ICP's Growth “Our objective is to enable people to create absolutely any kind of backend system or any online system exclusively from smart contracts,” Williams said.