The Block
Quick Take Dragonfly’s Haseeb Qureshi explains how the crypto VC landscape is becoming increasingly competitive.
Quick Take Stablecoin issuer Agora raised $12 million in seed funding. Venture firm Dragonfly led the round, which had additional support from General Catalyst and Robot Ventures. Agora intends to launch a USD-pegged stablecoin backed by cash and U.S. Treasury bills, focusing on non-US customers.
Quick Take Celestia has introduced Blobstream, a data availability solution for the Arbitrum ecosystem. This will enable developers to create customizable chains using Celestia for data availability.
Cumulative monthly trading volume for spot bitcoin ETFs nearly tripled last month when compared to February.March’s volume hit $111 billion versus February’s total of $42 billion.
GoldenTree has sold its digital asset unit, GoldenChain, to investment firm Republic — just two years after the subsidiary was launched in 2022.The deal follows a report from The Block in November that former partner and digital assets head Joe Naggar was set to leave GoldenTree.
U.S. spot Bitcoin ETFs returned to net outflows on Monday as Grayscale’s GBTC shed another $302.6 million.Ark Invest 21Shares’ ARKB product also witnessed its first-ever daily outflows, with $300,000 leaving the fund.
Volatility in the crypto market has caused over $400 million in liquidations over the past 24 hours.Bitcoin positions saw $127 million in liquidations alone, predominantly long positions.
Ethena has initiated airdrop claims for its governance token, representing 5% of its total supply. The governance token will be listed on various centralized exchanges starting at 4:00 a.m. EST.
Quick Take The Monetary Authority of Singapore is expanding its regulatory scope for crypto service providers by introducing amendments to the Payment Services Act. The amendments will take effect from April 4 in stages. The MAS also released guidelines on consumer protection requirements for crypto firms.
MakerDAO is considering allocating $600 million worth of its stablecoin DAI into USDe and staked USDe (sUSDe) via the DeFi lending protocol Morpho Labs. The move would put Ethena total value locked growth “on track with internal expectations,” according to Ethena’s head of growth, Seraphim Czecker.
