Post #252

📰#WeeklyRecap: 1. BlackRock's Bitcoin ETF Proposal: BlackRock, the world's largest asset manager, filed a proposal with the SEC to launch a Bitcoin ETF, the iShares Bitcoin Trust. Despite past rejections of spot Bitcoin ETFs by the SEC due to concerns over investor protection and market manipulation, the news has instilled hope in the crypto market. 2. More Bitcoin ETFs: Following BlackRock's lead, many traditional finance companies have filed for their own Bitcoin ETFs, including Valkyrie, Bitwise, WisdomTree, and Invesco. This increased interest in Bitcoin ETFs indicates a growing acceptance of cryptocurrency in traditional finance. 3. Traditional Finance Activity in Crypto: Deutsche Bank applied for a license to offer crypto custody services, highlighting the growing interest in crypto from traditional finance institutions. Moreover, a new crypto exchange called EDX Markets, backed by Citadel, Fidelity, and Charles Schwab, has launched, expanding options for crypto trading. 4. USDT Untethering: USDT faced downward pressure on its peg, leading to an imbalance in Curve’s 3Pool. This event, caused USDT to depeg to $0.998 against other stablecoins, USDC, and DAI. 5. Uniswap V4: Uniswap Labs announced its plans for Uniswap V4, extending V3’s concentrated liquidity architecture. Uniswap V4 introduces a new feature called "hooks," externally deployed contracts that execute developer-defined logic at a specific point in a pool’s execution, allowing for greater customization over pool functionality and gas optimizations.