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.

Core Foundation Launches Dual Staking to Enhance Bitcoin Yields

Core Foundation has introduced a Dual Staking model to enhance Bitcoin yields, establishing a 'Bitcoin Risk-Free Rate' with a $BTC bond layer. This innovation transforms Bitcoin from a store of value to a secure, yield-bearing asset. By staking both BTC and Core rewards, holders can earn higher returns, with $CORE token holders eligible for "Dual-Staker Rates.

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Australia’s Big Banks Block Crypto Payments Amid Rising Crypto Popularity

HSBC Australia will block customer payments to cryptocurrency exchanges starting July 24, 2024, to protect customers from investment scams. This decision aligns with similar actions by Australia's "Big Four" banks: Commonwealth Bank, National Australia Bank, Westpac, and ANZ, all citing concerns about scams and crypto trading risks.

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Ferrari to Extend Cryptocurrency Payments to Europe by July End

Ferrari will expand its cryptocurrency payment options to European dealers by the end of July, following a successful launch in the U.S. This initiative aligns with Ferrari’s strategy to meet customer preferences. Most European dealers have adopted or are adopting the new system, with plans to include international dealers by the end of 2024 in regions where cryptocurrencies are legal.

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Coinbase Demands SEC Release Gary Gensler’s Private Emails in New Court Motion

Coinbase Inc. has asked a New York court to make the U.S. SEC reveal internal communications involving SEC Chair Gary Gensler since 2021. Filed in the Southern District Court of New York, the request seeks Gensler's private emails, internal SEC discussions, talks between SEC staff and market participants, and documents related to Coinbase's 2021 public offering. This is part of Coinbase's ongoing legal fight with the SEC.

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Ethereum Spot ETFs Debut in U.S. Exchanges, Supported by Major Issuers

On July 23, Ethereum spot ETFs launched in the U.S., marking a key moment for the second-largest cryptocurrency. This allows professional investors and advisors to invest in Ethereum more easily, bridging digital assets with mainstream finance. 

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