Category: crypto

Wintermute launched its first DeFi vault product, Armitage, which supports collateral types not accepted by other competing curator platforms. This move expands Wintermute’s role beyond market-making and liquidity provision into yield infrastructure for institutional depositors. Armitage aims to offer differentiated vault strategies leveraging Wintermute’s liquidity expertise and collateral risk understanding.

South Korean funeral service company Bumo Sarang faced a $33 million unrealized loss after investing $40 million in a leveraged Ethereum-related ETF. This raised concerns about the oversight of funeral mutual aid industry in South Korea. The investment was in a leveraged ETF tied to Bitmine, an Ethereum treasury company, which resulted in significant losses…

Strive acquired 382 Bitcoin for $30.3 million between May 13 and 18, increasing its total holdings to 15,391 Bitcoin. The company’s Bitcoin treasury is valued at approximately $1.2 billion. Strive’s strategy involves funding Bitcoin purchases through preferred stock issuances and has a high amplification ratio. The company also reported significant cash holdings and a stake…

D’CENT Wallet and Flare Network launched the XRP Alliance on May 19, connecting hardware wallet users to XRP yield vaults without requiring a new chain or token. Users can deposit into Monarq and earnXRP vaults with no platform fee until June 8. This initiative aims to increase XRP yield adoption and accessibility.

Lolli partnered with Kard to offer automatic Bitcoin cashback to its 600,000 users who link eligible debit or credit cards. Users earn Bitcoin rewards on qualifying purchases with no additional steps required. Rewards can be withdrawn via Lightning Network or used within the Thesis Bitcoin stack. This partnership aims to simplify Bitcoin adoption through everyday…

Ethereum dropped 10.2% this week, with the ETH/BTC ratio at 0.0275. Market maker Wintermute says ETH is not suitable for the current economic environment with rising yields and inflation. Wintermute also warns against being long on BTC, as institutional investors may not return to the market amidst increasing Treasury yields and inflation concerns.

Tempo Morpho integration went live this week, adding $7.5 billion in decentralized lending to the Stripe-backed payments blockchain. Gauntlet and Sentora are launching curated lending markets, while RedStone provides price feeds. Enterprises on the chain can now lend, borrow, and earn yield on stablecoin balances without leaving the network.

JPMorgan says that Ethereum and altcoins are falling behind Bitcoin in terms of institutional flows and network activity. Despite upgrades, Ethereum has not seen significant growth in on-chain activity, while Bitcoin has recovered its outflows better. JPMorgan expects Bitcoin to continue leading unless Ethereum shows improvement in network activity and real-world use cases.

21Shares’ Hyperliquid ETF saw over $5 million in inflows shortly after its U.S. launch on May 12. The fund, which allows for 24/7 access to crypto and traditional markets, generated high trading volumes and interest from investors. Despite regulatory and competition risks, Hyperliquid continues to grow in popularity.

JPMorgan analysts predict that ether and altcoins will continue to lag behind bitcoin unless there is a significant increase in network activity, DeFi adoption, and real-world use cases. Despite upcoming Ethereum upgrades, previous improvements have not boosted onchain activity. Regulatory clarity from the CLARITY Act could potentially shift the dynamic for institutional capital towards crypto…