b16379899

@b16379899

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@jennyliver2298

Binance Labs has invested an undisclosed amount in Thena, a decentralized exchange (DEX) and liquidity protocol on the BNB Chain. Launched in January 2023, THENA offers spot and leverage trading with up to 60x leverage, utilizing the “ve(3,3)” tokenomics model to manage liquidity and reward participants. The model incentivizes long-term participation by allowing users to lock tokens in exchange for governance rights and rewards.

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Fidelity Ethereum Fund (FETH) again notched second place, with $1.5 billion in net inflows.

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This figure factors in more than $20 billion in net outflows from Grayscale Bitcoin Trust (GBTC), which the asset manager launched in 2013, initially as a non-listed trust.

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United States lawmakers who benefitted from support from the cryptocurrency industry in their respective 2024 primaries or elections will soon be sworn into office for the 119th session of Congress.

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From a $6,600 individual contribution from Ripple co-founder Chris Larsen to Maryland Senator Angela Alsobrooks to more than $10 million from the Protect Progress PAC — also a Fairshake affiliate — to support Michigan Senator Elissa Slotkin, crypto money arguably influenced the composition of the next US Senate just as much if not more than other special interest groups.

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The composition of both chambers could affect legislation in 2025 on how to regulate crypto in the US through proposed bills like the Financial Innovation and Technology for the 21st Century Act (FIT21).

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According to the advocacy group Stand With Crypto — which also attempted to influence US voters to choose candidates it considered favorable to the industry — roughly 270 lawmakers in the next session of Congress will be “pro-crypto,” with a clear majority in the House.

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In one of its biggest expenditures resulting in a win for the candidate, Protect Progress spent roughly $1.7 million in media buys to back Alabama Representative Shomari Figures over Anthony Daniels in the primary for the state’s 2nd Congressional District. Some House candidates, including Texas Representative Sylvester Turner, appeared to have not received any support from crypto executives or PACs.

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The makeup of the US House of Representatives is a similar story, with 63 new members taking office in January. Fairshake and its affiliates poured millions of dollars into primary races in 2024 to support both Democratic and Republican candidates who had expressed views favoring the crypto industry.

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The composition of both chambers could affect legislation in 2025 on how to regulate crypto in the US through proposed bills like the Financial Innovation and Technology for the 21st Century Act (FIT21).

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15 reactions

b16379899 pfp

According to the advocacy group Stand With Crypto — which also attempted to influence US voters to choose candidates it considered favorable to the industry — roughly 270 lawmakers in the next session of Congress will be “pro-crypto,” with a clear majority in the House.

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15 reactions

b16379899 pfp

In one of its biggest expenditures resulting in a win for the candidate, Protect Progress spent roughly $1.7 million in media buys to back Alabama Representative Shomari Figures over Anthony Daniels in the primary for the state’s 2nd Congressional District. Some House candidates, including Texas Representative Sylvester Turner, appeared to have not received any support from crypto executives or PACs.

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The makeup of the US House of Representatives is a similar story, with 63 new members taking office in January. Fairshake and its affiliates poured millions of dollars into primary races in 2024 to support both Democratic and Republican candidates who had expressed views favoring the crypto industry.

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In the filing, Coinbase cited risks tied to Sun, including accusations of financial misconduct and regulatory investigations.

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The cryptocurrency community has fired back against Coinbase’s explanation for delisting Wrapped Bitcoin, which the exchange linked to the “unacceptable risk” associated with Tron founder Justin Sun.

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Crypto exchange Binance has emerged as a major player in the region’s stablecoin market, almost matching Coinbase’s market share after listing EURI in August.

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As of late 2024, MiCA-compliant stablecoins have captured the majority of the European market. Circle’s EURC, Societe Generale’s EURCV and Banking Circle’s EURI collectively held 91% of the market share by November.

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Despite this, euro-backed stablecoins have thrived, with monthly volumes exceeding $300 million throughout 2024. November saw the highest activity, with nearly $800 million in trading volume.

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On Nov. 27, stablecoin issuer Tether discontinued support for its euro-pegged stablecoin EURt (EURT) on all blockchains. Tether said the decision aligned with its broader strategic direction, citing Europe’s “evolving regulatory frameworks” on stablecoins. The stablecoin company said it was discontinuing support for EURT on all blockchains and would cease minting the tokens.

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