21Shares’ analysis suggests that incorporating a small allocation to Dogecoin (DOGE) into a Bitcoin-focused investment strategy could substantially improve portfolio returns. The report, based on portfolio stress-testing, indicates that adding Dogecoin may not significantly increase risk while potentially enhancing overall performance. This research explores Dogecoin’s potential impact on diversified investment strategies.
Algorithmic trading firm Two Prime has eliminated its Ethereum (ETH) holdings, reclassifying it as a “memecoin” due to its unpredictable trading patterns. CEO Alexander Blume stated the firm will now focus solely on Bitcoin (BTC) management and lending, implying a lack of institutional interest in ETH. This decision reflects a shift in the firm’s asset allocation strategy, prioritizing Bitcoin as the more stable digital asset.
Morgan Stanley and Charles Schwab are reportedly planning to integrate crypto trading into their platforms. Morgan Stanley aims to launch spot crypto trading on its E*Trade platform by 2026, potentially partnering with crypto-focused companies. This move reflects growing interest in digital assets from established financial institutions, spurred by perceived easing of US regulations. The expansion signals a broader trend of traditional finance embracing the crypto market.
Bitcoin miner revenues are significantly down following the April 2024 halving event. Transaction fees now represent a minimal portion of block rewards, nearing levels last seen in 2023. This decline increases reliance on the block subsidy, which has halved. Hashprice, a measure of mining profitability, has also stalled, putting pressure on older mining equipment. The shift highlights challenges for miners as revenue streams evolve.
A group of US blockchain companies, spearheaded by the Crypto Council for Innovation, is calling on the Securities and Exchange Commission (SEC) to offer clear regulatory guidelines for crypto staking. In an open letter, the firms requested the SEC treat staking with the same regulatory clarity afforded to proof-of-work mining. The goal is to provide a stable legal framework for the growing crypto staking industry.
Ethena Labs has partnered with the TON blockchain to integrate its synthetic dollar, USDe, and its yield-generating version, sUSDe, directly into the Telegram ecosystem. This strategic move aims to provide Telegram users with access to these financial products. Ethena Labs views this launch as a significant step in expanding the reach of USDe within a popular communication platform.
Singapore Gulf Bank (SGB) has introduced SGB Net, a real-time clearing network focused on digital asset transactions for businesses in the Middle East and North Africa (MENA). This initiative aims to resolve challenges in global finance, specifically addressing delays and high costs associated with cross-border transactions. The SGB Net launch represents a move towards more efficient digital asset transfers.
The Binance BNB Chain saw a significant surge in its stablecoin market capitalization, increasing by 30% in the past week. This growth, reaching $9.26 billion, was fueled by the introduction of USD1, a dollar-pegged stablecoin issued by World Liberty Financial, which added over $2 billion in value. This expansion highlights the increasing adoption and activity within the BNB Chain ecosystem.
Worldcoin has launched its identity verification platform in the US, allowing users to obtain a World ID through dedicated centers in six cities. The blockchain-based project aims to confirm users’ humanity. The platform’s expansion includes partnerships with Visa and Tinder, suggesting potential integration with financial services and social platforms. The project seeks to broaden the adoption of digital identity solutions within various sectors.
Robinhood’s Q1 results show a significant comeback for retail crypto trading. Crypto-related revenue doubled year-over-year, reaching $252 million and contributing significantly to a 77% rise in overall transaction revenue. This surge highlights the increasing importance of individual investors and renewed engagement in the cryptocurrency market, driving Robinhood’s strongest quarter.