Daily Update:

• Tether co-founder Reeve Collins, is set to launch Pi Protocol, a decentralised yield-bearing stablecoin protocol on Ethereum and Solana later this year. It will allow users to swap their USP stablecoins in exchange for the yield-bearing USI token backed by bonds and real-world assets.
• SingularityNET has partnered with Mind Network to create a new AI security framework, ASI Hub, which combines the existing AI frameworks with Mind Network's fully homomorphic encryption (FHE). This allows computation on encrypted data without decryption, creating a privacy-focused AI security solution for autonomous agents.
• U.S. BTC Spot ETFs continued their spree of outflows after the market holiday on Monday, bringing the net flows over the last week to -$641M. ETH ETFs have fared slightly better, netting outflows of just $21.7M over the same period.
• MSTR (Strategy, was MicroStrategy) have announced another round of the same Bitcoin acquisition strategy that saw it dominate crypto headlines in Q4 2024, raising $2B via 0% convertible notes.
• Argentinian President Javier Milei’s crypto crisis continues, as the co-creator  of the token he is accused of “pump-and-dumping” has claimed that he paid the President’s sister.
• Derivatives markets are responding to crypto’s lacklustre spot performance in the past week. ETH’s term structure of volatility remains very close to flat at all tenors, after experiencing a mild inversion. ETH’s sideways spot moves have been punctuated by increased realised volatility, and in contrast, BTC's term structure has consistently remained steep throughout this period.

This Week’s Calendar:

Charts Of The Day:

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