The Block
Quick Take Beginning this week, Uniswap users can leverage Robinhood Connect to purchase cryptocurrencies with funds from their Robinhood accounts or a debit card, as well as via bank transfer.
Quick Take Reactions to Changpeng Zhao’s punishment abounded on Tuesday as the former Binance CEO is set to serve four months in prison after pleading guilty to money laundering charges. With a net worth estimated over $40 billion, Zhao will become the richest person to ever serve time in a federal prison.
For the first time since July 2019, the 7-day moving average of Bitcoin’s market cap to transaction fee ratio fell below that of Ethereum.This is an excerpt from The Block’s Data & Insights newsletter.
Quick Take House and Senate leadership have indicated the FAA will be “clean” of bills lawmakers have been looking to attach, so it is unlikely a stablecoin bill will be included, according to a Democratic aide. Post-election season, a bill could be attached to end-of-year bills such as the National Defense Authorization Act or part of a legislative package that includes a bill that would allow financial institutions to provide services to the marijuana industry.
Quick Take In November 2023, former Binance CEO Changpeng Zhao pleaded guilty in the U.S. to anti-money laundering and sanctions violations, and agreed to pay a $50 million fine.
Early bitcoin investor Roger Ver has been charged with alleged mail fraud, tax evasion and filing false tax returns. Ver supposedly concealed bitcoin ownership from the U.S. Internal Revenue Service and caused the purported loss of $48 million.
Major U.S. crypto stocks like bitcoin stockpiler MicroStrategy, top exchange Coinbase and more all experienced significant losses in Tuesday’s trading session.MicroStrategy reported first-quarter revenue of $115.2 million, a 5% year-over-year decrease.
BlackRock’s BUIDL hit $375 million in assets under management, beating out Franklin Templeton’s on-chain mutual fund FOBXX by nearly $7 million.
Quick Take Hybrid crypto exchange X10 launched out of stealth today on testnet with $6.5 million in funding. Led by former Head of Crypto Ops at Revolut Ruslan Fakhrutdinov, the new platform aims to combine the best of CeFi and DeFi.
Quick Take Sens. Elizabeth Warren and Roger Marshall aired concerns specifically about the stablecoin Tether, in a letter sent over the weekend to Defense Secretary Lloyd Austin and Treasury Secretary Janet Yellen, among other officials. Tether says it works with law enforcement to track assets and catch criminals.
