This Week in Crypto: March 22, 2024
Welcome to This Week in Crypto, your go-to source for the latest developments and insights in the world of cryptocurrency and blockchain technology. In this edition, we are looking into the following topics:
- BlackRock makes strides in asset tokenization
- MXC Foundation & JDI mentioned by top publications, accelerating leadership in DePIN
- Legal confrontation between Silvergate Bank and FTX users
BlackRock makes strides in asset tokenization
BlackRock, the renowned global asset manager, recently launched its inaugural tokenized asset fund, the BlackRock USD Institutional Digital Liquidity Fund. This significant move, led by CEO Larry Fink, marks a pivotal step towards revolutionizing asset management. By embracing blockchain technology, BlackRock aims to foster efficiency and transparency in the financial sector. Fink emphasizes the fund’s role in establishing a unified ledger and facilitating instantaneous settlement, thereby enhancing the overall integrity of financial transactions. Moreover, this initiative underscores BlackRock’s commitment to staying at the forefront of innovation and adapting to the evolving landscape of digital finance. With the BlackRock USD Institutional Digital Liquidity Fund, BlackRock reaffirms its position as a leader in the industry, driving the adoption of blockchain for a more secure and efficient future.
MXC Foundation & JDI mentioned by top publications, accelerating leadership in DePIN
MXC Foundation to be making waves across prominent platforms like Wall Street Journal, CoinDesk, Business Insider, and Yahoo Finance. The spotlight intensified following JDI’s announcement of a substantial $10 million investment in the MXC ecosystem, drawing significant attention to MXC and its Layer3 solution. In addition, JDI’s role extends beyond mere investment; it serves as an accelerator for MXC within the burgeoning DePIN industry. With a strategic focus on listing multiple DEPIN projects and tokens, JDI aims to cultivate a thriving ecosystem for IoT and DePIN technologies built on MXC.
This collaborative effort signifies a pivotal moment in MXC’s journey, further solidifying its position as a trailblazer in the realm of decentralized technology. As MXC continues to spearhead advancements, backed by JDI’s support, the trajectory of decentralized innovation is set to reach unprecedented heights, reshaping the landscape of IoT and Web3.
Legal confrontation between Silvergate Bank and FTX users
Silvergate Bank faces a class-action lawsuit from FTX users, claiming the bank’s involvement in exchange fraud alongside Alameda Research. The court denies dismissal, asserting Silvergate’s awareness of the fraud and its benefits, underscoring its duty of care to FTX customers. Notably, Silvergate’s income soared after it began banking FTX. The lawsuit highlights a significant legal battle within the cryptocurrency realm, shedding light on the complexities of financial institutions’ roles in emerging digital markets.
That wraps up another insightful edition of This Week in Crypto. Keep an eye on our newsletter for upcoming news, analysis, and exclusive insights into the ever-evolving crypto landscape. Don’t forget to subscribe to stay ahead of the curve. Until next time, happy investing!
