The Block
Quick Take El Salvador has reached a deal with the IMF to limit various bitcoin-related activities in exchange for a loan of $1.4 billion. Specific requirements of the deal include limiting the public sector’s bitcoin purchases, and the wind-down of public bitcoin wallet Chivo.
Bitcoin fell below the $100,000 mark on Wednesday following Federal Reserve chair Jerome Powell’s comments.Powell spoke against the idea of a U.S. national bitcoin reserve, while giving a hawkish 2025 outlook.
Quick Take A California judge has ruled that Coinbase can delist wrapped bitcoin while denying BiT Global’s request for a temporary restraining order. Coinbase announced it would remove the tokenized bitcoin product after its custodian partnered with the Hong Kong-based firm with ties to Justin Sun. A Coinbase representative said the exchange may look to sanction the plaintiffs for bringing a spurious lawsuit.
Quick Take Exodus Movement’s stock was listed on the New York Stock Exchange sister company, NYSE American, on Wednesday. EXOD stock is up over 37% as the trading day ends.
Quick Take “We’re not allowed to own bitcoin,” Federal Reserve Chair Jerome Powell said during a news conference on Wednesday. In Congress, Sen. Cynthia Lummis, R-Wyo., has a draft bill circulating that would direct the U.S. Treasury to buy one million bitcoin over a period of five years.
Quick Take World Liberty Financial, the fledgling DeFi project supported by President-elect Donald Trump, announced a “long-term collaboration” with synthetic dollar project developer Ethena Labs, starting with the implementation of sUSDe as a collateral token on the WLFI protocol. Polygon community members rejected a recent preliminary proposal to deploy $1.3 billion in stablecoins from the PoS Chain bridge for yield generation, citing security and user consent concerns. Ethereum Name Service (ENS), which
Quick Take Bitcoin’s price traded higher on Thursday afternoon after the Federal Reserve cut interest rates by 25 basis points to the 4.25% to 4.50% range. The rate reduction comes after bitcoin reached a new all-time high of over $108,000, after Donald Trump won the U.S. presidential election.
Quick Take Fraction AI has raised $6 million in a pre-seed funding round co-led by Spartan and Symbolic. The crypto-AI startup is focused on decentralizing data labeling.
Quick Take Donald Trump-backed DeFi platform World Liberty Financial and Ethena are planning a “long-term collaboration” starting with implementing the yield-bearing token, sUSDe. World Liberty Financial’s governance will be asked to decide on the implementation this week.
