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  • 🌙 Arbitrum Is Looking for Yield. BlackRock Came Knocking.

🌙 Arbitrum Is Looking for Yield. BlackRock Came Knocking.

Arbitrum DAO wants exposure to real-world assets. Some TradFi firms have volunteered their services.

Author

Mike Gavela
May 07, 2024

Crypto Roundup - May 7

Franklin Templeton is collaborating with Securitize to offer decentralized finance (DeFi) services on the Arbitrum blockchain, expanding their reach in the crypto space. Concurrently, concerns about regulatory oversight in the crypto industry are prevalent, with the SEC defending its stringent enforcement actions as merely fulfilling its responsibilities, as highlighted during congressional discussions. Furthermore, some DeFi protocols are deliberately excluding U.S. users from crypto airdrops, possibly as a protective measure against the country's complex regulatory landscape, which could influence their operational freedom and legal standing.

Top Stories:

  • BlackRock teams up with Securitize: They aim to tap into the DeFi market by leveraging Arbitrum's blockchain capabilities, showcasing a growing trend of traditional financial entities engaging with decentralized platforms.

  • SEC’s active role in crypto regulation: Recent testimonies to Congress underscore the SEC's commitment to stringent enforcement within the crypto industry, suggesting ongoing tensions between regulatory bodies and crypto entities.

  • DeFi protocols avoiding U.S. jurisdiction: A noticeable trend where certain DeFi projects exclude U.S. participants from airdrops, possibly to avoid the complexities of U.S. regulations that could impede their operations or legal status​

TOP STORIES

Arbitrum is looking for yield. BlackRock came knocking.

As the Arbitrum DAO looks to diversify its holdings, “TradFi” throws its hat in the ring.

www.dlnews.com/articles/defi/franklin-templeton-securitize-pitch-services-to-arbitrum

SEC is just doing its job in enforcement cases, crypto critics tell lawmakers

The US markets watchdog is justified in its crackdown on crypto, critics say during hearing

www.dlnews.com/articles/regulation/sec-just-doing-its-job-in-crypto-enforcement-congress-told

More DeFi protocols could snub US users as crypto airdrops explode

Many argue that protocols should warn US users if they don't plan to include them in a token airdrop.

www.dlnews.com/articles/defi/defi-protocols-snub-us-users-as-crypto-airdrops-explode

FUNDRAISES

Galaxis Raises $10M, Doubling Down on Belief That NFTs Will Provide Real Value Everywhere

The platform has previously launched NFT collections for celebrities such as DJ Steve Aoki and actor Val Kilmer.

www.coindesk.com/policy/2024/05/07/galaxis-raises-10m-doubling-down-on-belief-that-nfts-will-provide-real-value-everywhere/?utm_medium=social&utm_source=twitter&utm_campaign=coindesk_main&utm_content=editorial&utm_term=organic

OTHER HEADLINES

Bitcoin Rebound Has Crypto Options Traders Anticipating $100K

The number of active bitcoin call contracts is significantly higher than puts, indicating bullish market sentiment.

www.coindesk.com/markets/2024/05/07/bitcoin-rebound-has-crypto-options-traders-anticipating-100k

Grayscale Withdraws Ethereum Futures ETF Application to SEC - Decrypt

The firm appears to sidestep an “approve futures, deny spot” ETF strategy that could have landed in the courts.

decrypt.co/229830/ethereum-futures-etf-grayscale-etf-withdrawal

New South Korean leadership will press for Bitcoin ETF trading

The Democratic Party of Korea is pushing for the Financial Services Commission to reassess spot Bitcoin ETFs, as well as eyeing potential amendments to the Capital Markets Act.

cointelegraph.com/news/democratic-party-south-korea-spot-bitcoin-etfs-fsc

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