NORTHSTAKE

What happened in crypto last week? 👀 1. BlackRock’s ETHA Becomes First Ethereum ETF to Cross $1B in Net Inflows BlackRock's iShares Ethereum Trust #ETHA has exceeded $1 billion in cumulative net inflows, becoming the first among 11 issuers to achieve this milestone. Despite this success, #Ethereum ETFs as a group have experienced cumulative net outflows exceeding $440 million, lagging behind bitcoin ETFs. Notably, BlackRock's bitcoin fund ranks among the top five ETFs for 2024 inflows. Read more about Blackrock's ETHA here: https://lnkd.in/dPEGQCAU 2. Franklin Templeton Launches Tokenized Money Market Fund #BENJI on the Avalanche Network Franklin Templeton, a global investment firm managing $1.6T in assets, has expanded its blockchain presence by launching its on-chain money market fund, the Franklin OnChain U.S. Government Money Fund #FOBXX, on the Avalanche network. Read more about BENJI here: https://lnkd.in/g45dPcxq 3. Tether.io plans to launch dirham stablecoin with UAE partners Tether, the leading stablecoin provider in the digital asset industry, has revealed plans to introduce a new stablecoin pegged to the United Arab Emirates dirham #AED. As per the press release shared with Cointelegraph, this stablecoin will be launched in partnership with UAE-based Phoenix Group and Green Acorn Investments. The initiative seeks to create a digital representation of the dirham currency, which is “fully backed by liquid UAE-based reserves.” Read more about the dirham stablecoin here: https://lnkd.in/gZqaYFJi 4. Prometheum to add ARB, UNI to custody platform launching next month Prometheum Capital announced plans to add Uniswap Labs’s #UNI and The Arbitrum Foundation’s #ARB tokens to its custodial platform, set to launch in the coming weeks. In May 2023, Prometheum became the first company to receive a special-purpose broker-dealer license to custody digital assets, allowing it to custody crypto securities. Read more about this on Blockworks: https://lnkd.in/d2smwtvY 5. Grayscale Investments launches investment fund for AVAX token Grayscale Investments has introduced a new investment fund for Avalanche’s native token, #AVAX, as announced on August 22. The Grayscale Avalanche Trust “offers investors the opportunity to gain exposure to Avalanche, a three-chain smart contract platform designed to simultaneously optimize for scalability, network security, and decentralization,” according to Grayscale. Read more about this here: https://lnkd.in/ePJkikai And on Cointelegraph: https://lnkd.in/debK-WY2

With less than a month to go, we’re pleased to announce that we’ll be attending TOKEN2049 in Singapore! Our Head of Product, Luca Sorlini, and Chief Commercial Officer, Stefan Becker, will be representing us from September 16th to 22nd. If you’re attending, feel free to reach out to discuss staking, tokenization, blockchain infrastructure, or simply to grab a coffee. Looking forward to seeing you there! #token2049 #token204924 #tokensingapore #token24 #token2049singapore

Where Are the Most Applications Being Developed? 👨💻 The race to build the most innovative and impactful blockchain applications is heating up. The Ethereum ecosystem is leading the charge with nearly 6,000 applications built on its platform—far outpacing its competitors. While platforms like TRON DAO and Avalanche are also making their mark, they remain significantly behind in terms of application development. What does this tell us about the future of blockchain technology? As Ethereum continues to lead the way, supported by its robust Layer 1 and expanding Layer 2 solutions, it's clear that developers are betting big on its potential. Will other platforms catch up, or is Ethereum poised to dominate the decentralized application space for years to come? #tron #ethereum #avalanche #ethereumecosystem #layerone #layertwo #applicationdevelopment

What are the various staking methods? 🤔 ▶ Solo staking Solo staking on Ethereum is considered the gold standard for staking. It involves running an Ethereum node on a dedicated computer that is connected to the internet on a 24/7 basis. Each validator node requires 32 ETH and provides full participation rewards. ▶ Staking as a service Staking service providers can validate transactions on behalf of users by receiving validator credentials from users and deposits in 32 ETH increments. This method of staking requires a certain level of trust in the staking provider and can work as a noncustodial solution as well as custodial staking solution. ▶ Pooled staking Several pooling solutions now exist to assist users who do not have 32 ETH or are not comfortable staking that sum. Many of these options include what is known as 'liquid staking' which involves an ERC-20 liquidity token (equal in utility as a derivative product) that represents the staked ETH. Pooled staking is not native to the Ethereum network. Third parties are building these solutions, and they carry their own risks. Press the link below to read more about the various staking methods on Moody's: https://lnkd.in/ddvfximK #stakingasaservice #pooledstaking #solostaking #ethereum #eth #validatornode #staking #stakingmethods

Here’s what happened in crypto last week 👀 👇 1. BlackRock's ETFs surpass Grayscale Investments's in assets, crowning new crypto fund king: Arkham BlackRock, the world’s largest asset manager, has now become the firm with the largest on-chain bitcoin and ether holdings through its IBIT and ETHA funds. Recently surpassing longtime leader Grayscale, BlackRock has accumulated over $21.2 billion in digital assets under management, according to blockchain intelligence firm Arkham. 2. World’s largest Bitcoin Inc. miner announces $250M raise to buy more Bitcoin Marathon Digital Holdings has announced a $250 million private offering of convertible senior notes due in 2031, aimed at "qualified institutional buyers." The world's largest Bitcoin mining firm is also considering an additional $37.5 million in notes for initial purchasers, depending on market conditions. According to an August 12 announcement, Marathon plans to use the $250 million raised to acquire more Bitcoin. 3. Ethereum ICO whale deposits 48.5K ETH at 1,024,416% profit The Ethereum whale transferred 48,500 ETH to a cryptocurrency exchange over a span of four weeks, a period during which Ether’s market cap declined by roughly $80 billion. 4. USDC to embrace tap-and-go payments after Apple opens up NFC Jeremy Allaire, CEO of the stablecoin company Circle, announced that the firm plans to launch tap-and-go payments for iPhones, following Apple's decision to allow third-party developers access to the secure payment chips on their devices. “Tap to pay using USDC on iPhones incoming soon. Wallet devs, start your engines,” Allaire said in an Aug. 14 post to X. 5. Asset Manager Grayscale Introduces Crypto Fund for MakerDAO's MKR Grayscale, the asset management firm known for its Bitcoin #BTC and Ether #ETH exchange-traded funds #ETFs and other crypto investment products, announced last Tuesday the launch of a new fund focused on MakerDAO's governance token #MKR. Following the news, MKR surged over 5% within an hour, reaching $2,100. The token has risen nearly 8% in the past 24 hours, outperforming the largely stagnant broader market as represented by the CoinDesk 20 Index. 6. Franklin Templeton files S-1 for 'Crypto Index ETF' holding BTC and ETH, following Hashdex The exchange-traded fund, set to trade under the ticker EZPZ, would allocate bitcoin and ether in an unspecified ratio based on the market capitalization of each asset. The fund could also include additional cryptocurrencies if they receive regulatory approval in the future. Franklin Templeton’s filing comes after Hashdex, which was the first to file for a combined bitcoin and ether ETF. Links to all sources in the comments below 👇 #Blackrock #grayscale #arkham #ETH #Ether #ETF #bitcoin #btc

A Shift in the Crypto Landscape: Bitcoin vs. Ethereum Ecosystem 🤔 Over the past few years, the crypto landscape has seen a significant shift. While Bitcoin Inc. has remained the steady giant of the blockchain world, maintaining an average of around 1 million daily active addresses, the Ethereum ecosystem has surged ahead, particularly in recent quarters. Layer 2 solutions like The Arbitrum Foundation, Base, ZKsync, and Optimism Unlimited have driven this growth, with the number of daily active addresses in the Ethereum ecosystem nearly doubling from Q1 2023 to Q2 2024, surpassing 1.75 million. As Ethereum’s Layer 2 platforms continue to expand and attract more users, they could become the go-to choice for scalable and efficient transactions. The question now is: Will Bitcoin maintain its dominance, or are Ethereum's Layer 2 solutions poised to redefine the future of decentralized finance? #Ethereum #bitcoin #blockchain #Arbitrum #base #zksync #optimismunlimited #crypto

Let's dive into what happened in crypto last week? 👀 1. Franklin Templeton’s tokenized money fund launches on The Arbitrum Foundation  As announced on August 8, Franklin Templeton is introducing its tokenized money fund on the Arbitrum network. The asset manager views this move as “an ongoing effort to bridge the gap between traditional and decentralized finance.” Read more about this at Cointelegraph 👉 https://lnkd.in/dmhzyDfx 2. Court orders Ripple to pay $125M civil penalty in #SEC lawsuit A federal judge has ordered Ripple to pay a civil penalty of $125,035,150 in its lawsuit with the U.S. Securities and Exchange Commission. The SEC had initially sought a $2 billion payment, while Ripple had argued for a maximum penalty of $10 million. Read more about the lawsuit at Blockworks 👉 https://lnkd.in/e9EYwaMh 3. Microsoft declares OpenAI both ‘strategic partner’ and ‘competition’ in SEC filing The two companies are under antitrust scrutiny in the US and EU over their partnership. Microsoft, according to a July SEC filing, wants regulators to see its relationship with OpenAI as more of a "frenemies" situation rather than a true partnership. Read more about this at Cointelegraph 👉 https://lnkd.in/dJb2nj5a 4. Institutions Are 'Buying the Dip' as Crypto Finds a Footing Following Recent Market Slump Institutions buying the recent crypto dip has been a noticeable trend during the market correction, according to David Lawant, FalconX's head of research, as reported by Decrypt. Read more about this at Decrypt 👉 https://lnkd.in/dn3Khj8N 5. Amazon, Google & Walmart Set to Join India’s Digital Rupee In a significant development, major tech giants Amazon, Google, and Walmart are preparing to participate in India’s new digital currency project. This initiative, spearheaded by the Reserve Bank of India (RBI), aims to revolutionize the digital payments landscape in the country. Read more about this at CoinMarketCap 👉 https://lnkd.in/dAtcqcKg #FranklinTempleton #arbitrum #microsoft #openai #Amazon #google #Walmart

As crypto and digital assets gain mainstream traction, institutional investors are increasingly drawn to the potential of these emerging markets and their underlying technologies. Data from Bitwise Asset Management highlights that major financial institutions are embracing various crypto services. From trading and custody to crypto-enabled payments and tokenization, leaders like Bank of America, BlackRock, Fidelity Investments, and JPMorganChase are driving adoption. This trend is expected to accelerate as the industry continues to mature and innovate.

What better way to start the week than with some great conversations over dinner?🍴🍷 Last night, Northstake hosted a 'Wine & Dine' event at a local wine bar here in Copenhagen. See the video below for a peek into how it was. A special thank you to all of you who attended: Luca Sorlini Victor Riis Jensen Adrian Larsen Torben Jorgensen Morten Rongaard Claus Nielsen Søren Peter Nielsen Casper Wassmann Jesper Johansen Louise Hallersbo Sami Niemi Richard Breiter If you missed this one or want to join us for future events, you can sign up here: https://lnkd.in/dzUnECde

What happened in crypto last week? 👀 1. Morgan Stanley to Offer Bitcoin Inc. ETFs to Wealthy Clients: CNBC Morgan Stanley's decision, which will take effect on Wednesday, allows clients with a net worth of at least $1.5 million to participate, responding to client demands following the January approval of bitcoin ETFs, which raised hopes of attracting significant financial institution investments in cryptocurrency; however, large firms typically undergo extensive compliance and review processes before offering such funds to their clients. 2. France Opens for MiCA Applications, First Among Biggest EU Economies The French markets regulator announced that it began accepting applications for crypto asset services provider licenses on July 1. #MiCA is scheduled to come into effect by December, and companies will need to be licensed under this regime by July 2026 to continue offering services in the European Union. 3. SEC backs down on claiming SOL, ADA, MATIC, other tokens are securities in Binance suit   U.S. Securities and Exchange Commission is no longer asking a court to decide and deem the tokens named in its lawsuit against crypto exchange Binance as securities.   4. Telegram launches in-app browser supporting decentralized websites The crypto-friendly social messaging platform Telegram Messenger has launched a new in-app browser that supports decentralized websites. These decentralized websites, known as "TON Sites," are now available on both mobile and desktop, according to a July 31 announcement from Telegram's team. 5. Michael Saylor's MicroStrategy Plans to Raise $2B to Buy More Bitcoin #MicroStrategy is doubling down on its cryptocurrency strategy. On August 1, the Virginia-based company filed with the U.S. Securities and Exchange Commission #SEC to raise $2 billion through the sale of its class A shares. 6. Russia Races to Legalize Crypto as Sanctions Weigh On Firms  Russia is taking steps to regulate the use of cryptocurrencies as companies face growing challenges with foreign payments due to the threat of US sanctions related to the war in Ukraine. 7. Polyhedra Launches ‘ZK-As-A-Service’ Platform In Partnership With Google Cloud   On July 31, Polyhedra Network announced the open-beta launch of Proof Cloud, a "zero knowledge (ZK)-as-a-service" platform developed in partnership with Google Cloud. This platform enables developers to choose from multiple ZK provers, significantly reducing the developmental overhead required for creating bespoke Layer 2 solutions. All links to each article in the comments. 👇 #CryptoNews #BitcoinETF #MorganStanley #MiCA #CryptoRegulation #SEC #Binance #Telegram #DecentralizedWeb #MicroStrategy #Bitcoin #CryptoAdoption #RussiaCrypto #CryptoSanctions #Polyhedra #GoogleCloud #Blockchain #SOL #ADA #MATIC