Recapping the Week in DeFi

As the DeFi and crypto space continues to evolve at a rapid pace, it's essential to stay informed about the latest developments and trends. Our weekly recap provides you with a concise yet comprehensive overview of the most significant news and trends in the DeFi and crypto space, helping you stay informed and up-to-date with the latest happenings.

Standard Chartered to Bring Crypto Trading with Bitcoin and Ethereum Trading Desks

Standard Chartered Bank is launching a spot crypto trading desk for Bitcoin and Ether in London, according to Bloomberg. This makes it one of the first global banks to enter spot cryptocurrency trading, typically dominated by derivatives trading from banks like Goldman Sachs.

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Nigerian Court Dismisses Binance Executive’s Human Rights Lawsuit Against NSA and EFCC

The Federal High Court in Abuja has dismissed a rights lawsuit by Binance executive Nadeem Anjarwalla against Nigeria’s National Security Adviser and the Economic and Financial Crimes Commission. Justice Inyang Ekwo ruled against Anjarwalla due to lack of legal representation. Anjarwalla claimed unlawful detention and travel document seizure, citing constitutional rights violations. His colleague, Tigran Gambaryan, has filed a similar suit.

Learn more in the article.

What is Tether's New Platform Called Alloy?

Tether, known for its stablecoin USDT, has introduced Alloy, a platform featuring over-collateralized assets backed by Tether Gold (XAUT). Alloy will enable the creation of assets backed by various other assets, including yield-bearing products, potentially expanding digital asset investment opportunities.

Find more information here. 

Core Foundation and Valour Inc. Team Up to Launch World’s First Yield-Bearing BTC ETP

Valour Inc., a subsidiary of DeFi Technologies Inc., has launched the world's first yield-bearing Bitcoin (BTC) ETP for German investors, in partnership with Core Foundation. This product offers exposure to Bitcoin with a 5.65% annualized yield. Trading began on June 13, 2024, on Börse Frankfurt, following its successful debut on the Nordic Growth Market in Sweden on May 10, 2024.

Details in the article. 

The Controversy Around DJT Token

The native token of the Save America movement, DJT, has surged dramatically in the past week. Despite its growth, controversy surrounds the project, with blockchain investigator ZachXBT revealing claims by Martin Shkreli of collaborating with Barron Trump, Donald Trump's youngest son, to create DJT. This comes after Arkham, a blockchain data platform, offered a $150,000 bounty to uncover the token’s originator.

Read the full story here.