The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Happy Thursday! Not wanting to miss out on the latest ChatGPT Studio Ghibli craze, The Block took a break from the news earlier this morning and spent a few very productive hours Ghiblifying our team photos — check them out!
In today's newsletter, the U.S. Senate votes to repeal a controversial crypto tax rule, Ethereum edges closer to deploying Pectra, JPMorgan sees yield-bearing stablecoins growing to 50% market share and more.
Meanwhile, Senators grill Trump's SEC nominee, Paul Atkins, over his FTX ties and the agency's missteps under former Chair Gary Gensler.
Let's get started.
The U.S. Senate voted 70-28 late Wednesday to repeal a controversial Internal Revenue Service crypto tax rule finalized just weeks before the Trump administration took office.
Ethereum developers have successfully deployed Pectra on the new Hoodi testnet, marking the potential final step before mainnet deployment of the upgrade, which focuses on improving scalability, staking and user experience.
JPMorgan analysts predict yield-bearing stablecoins could grow from 6% to 50% of stablecoin market share in the future.
DeFi protocol Linear Finance is shutting down due to "financial challenges" and struggles to "generate sustainable returns" since its 2020 launch.
The disgraced former CEO of defunct crypto exchange FTX, Sam Bankman-Fried, has been moved to a transit facility in Oklahoma City, part of the Justice Prisoner and Alien Transportation System, nicknamed "Con Air," according to the Federal Bureau of Prisons.
Never miss a beat with The Block's daily digest of the most influential events happening across the digital asset ecosystem.
Disclaimer: This article was produced with the assistance of OpenAI’s ChatGPT 3.5/4 and reviewed and edited by our editorial team.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
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