The Block
Quick Take Analysts at Bernstein expect the MicroStrategy flywheel effect to accelerate amid the potential inclusion of MSTR in the Nasdaq 100 and the new Trump administration’s focus on crypto. On Tuesday, Bloomberg analyst James Seyffart said MicroStrategy will likely enter the index on Dec. 23, with net buying of at least $2.1 billion in shares by ETFs to follow.
Quick Take Joseph Chan, acting secretary for the Treasury, said that regulators are exploring ways to facilitate a “swift licensing process” for crypto trading platforms. The Securities and Futures Commission is expected to set up a “consultative panel” for licensed platforms early next year.
Quick Take DeFi derivatives trading protocol Synthetix has acquired the leveraged token platform TLX. Synthetix said it plans to launch a leveraged token incentive program in 2025.
Quick Take Coincheck, the second-largest cryptocurrency exchange in Japan, is listing on NASDAQ via a de-SPAC transaction on Wednesday. The combined firm will have an initial implied market capitalization of approximately $1.3 billion.
Quick Take Users can claim ME tokens by linking their cross-chain wallet to the ME Foundation website, the organization developing the ME token, and completing the claim process on the Magic Eden mobile app.
Quick Take Reuters U.S. Finance Editor Lananh Nguyen asked Goldman Sachs CEO David Solomon if he could “make markets in Bitcoin or Ethereum” during a conference on Tuesday. Solomon signaled that the Wall Street giant would participate in crypto if regulations in the U.S. change.
Quick Take Ripple’s RLUSD stablecoin has secured final approval from the New York State Department of Financial Services.
Quick Take An AI-powered VC fund called ai16z on the nascent platform Daos.fun reached a nearly $100 million market cap after a shoutout from the a16z partner after which it’s modeled, Marc Andreessen. The fund’s market cap has since declined to about $50 million, though volatility remains high. The fund’s creator says the plan is to have the AI run the fund based on input from DAO members, weighted by their token holdings and the quality of their prior recommendations.
Quick Take The volume of stablecoins transferred on Coinbase’s Base Ethereum Layer 2 blockchain on Oct. 26 was higher than all other blockchains for the first time, Artemis data shows. 30% of all stablecoin volume took place on Base, a higher proportion than typical leaders Ethereum, Solana, and Tron.
Quick Take COSIMO, a digital asset holding company founded in 2014, announced it is raising a $25 million funding round being led by Eolas Capital co-founder and former Bridgewater Associates executive Des Mac Intyre. The firm has its hands in a number of crypto sectors, including tokenized venture, custody and a staking hedge fund.
