Digital Asset Manager ParaFi Raises $125 Million for Venture Fund

Despite the ambitious digital asset reforms by the Albanese government, crypto adoption in Australia has stalled. The fifth annual Australian Crypto Survey revealed that trust in digital assets is declining, with nearly 60% of adults expressing distrust.

A class action lawsuit alleges that Meteora founder Benjamin Chow orchestrated the launch of scam tokens like LIBRA and MELANIA, using public figures' credibility to deceive investors. The complaint points to Chow as the mastermind behind the fraudulent token schemes.

Max Glass, a former executive at RWA Company, filed a lawsuit alleging wrongful termination and coercion to sign away his rights for the company's stablecoin project, M^0. Glass claims fiduciary betrayal by RWA's executives, who diverted efforts from a stablecoin venture developed with CrossLend to create M^0.

Moon Inc. has successfully raised US$8.8 million to launch a Bitcoin prepaid card in Thailand and South Korea, with plans for expansion across Asia. The fundraising was supported by a consortium of Bitcoin miners and investors, marking a critical milestone for the company's growth.

Top crypto industry executives met with key Senate Democrats and Republicans, highlighting the divide on market structure legislation. Democrats expressed frustration over leaked proposals, while Republicans emphasized the urgency of passing the bill.

Andreessen Horowitz's State of Crypto 2025 report highlights the cryptocurrency industry's growth, emphasizing institutional adoption, technological advancements, and regulatory progress. The report predicts a pivotal year in 2025 for crypto, with Bitcoin dominating the market and stablecoins rivaling global payment giants.

The rise of Wall Street in the cryptocurrency space has led to a shift in narrative and focus, with many now opting for financial proxies like treasury company equity or ETFs instead of direct interaction with protocols. This cultural shift poses existential questions about Bitcoin's nature and functioning, challenging the core promise of stability and neutrality.

Robinhood and Coinbase have recently added support for BNB, the fourth largest cryptocurrency, on their platforms in the U.S. BNB's price dropped 2.1% to $1,070, down 22.3% from its all-time high of $1,370 less than ten days ago.

The Ethereum Foundation recently transferred over 160,000 ETH, valued at $610 million, to a multi-signature Safe Wallet for security. This move was part of a scheduled migration after successful testing of the Safe technology, which has facilitated over 750 million transactions across multiple chains.

Inveniam Capital Partners has signed an agreement to acquire Storj, a decentralized cloud storage player, integrating its capabilities into Inveniam's data platform for private markets. Storj will operate as a subsidiary with no immediate changes to contracts or leadership.