US Government-Backed Mortgage System Now Accepts BItcoin, USDC as Loan Collateral

SEC Chair Paul Atkins plans to introduce an "innovation exemption" for digital assets by year's end, part of the SEC's pro-crypto initiatives. Atkins aims to implement crypto-focused exemptions and safe harbors, as outlined in "Project Crypto," to ease regulatory burdens for the industry.

Rainbow, an Ethereum wallet developer, proposed a takeover of Clanker, a token launchpad, offering 4% of its forthcoming token supply to Clanker investors. Clanker's founder rejected the offer, leading to a public dispute between the two parties.

Vitalik Buterin praised Coinbase's L2 Base for utilizing centralized aspects to enhance user experience while maintaining security through Ethereum's decentralized base layer. L2s like Base process transactions off the mainnet, offering faster and cheaper confirmations.

U.S. Senator Cynthia Lummis and Senator Kirsten Gillibrand are co-sponsoring legislation to address concerns about cryptocurrency ATMs being used by scammers targeting seniors. Law enforcement has seen a surge in fraud tied to these machines, with FinCEN reporting a 31% increase in victim losses in 2024.

Orderly Network has launched "Orderly One," a platform enabling users to easily create their own perpetual DEXs without coding. This service targets DAOs, funds, and trading communities seeking revenue from crypto trading in a decentralized manner.

The Crypto Wealth Report by Henley & Partners reveals a 40% increase in crypto millionaires and a 29% rise in crypto billionaires over the past year. Bitcoin's surge has been a key factor in this wealth growth, with the largest cryptocurrency's price rising 78% in the last year.

Bitcoin has not met the fanbase's expectations of reaching $250,000 or $1 million, remaining between $100,000 and $120,000. The market is influenced by various groups like novices, established holders, traders, and Bitcoin maxis, with a new group emerging - the drainers.

Securitize has integrated Ripple's RLUSD stablecoin into its platform, allowing users to exchange shares in tokenized money market funds for the dollar-pegged asset. The smart contract feature functions 24/7, providing instant liquidity and serving as an off-ramp for products offered by asset managers BlackRock and VanEck.

Despite the overall downturn in the crypto market, altcoins like Mantle and Avalanche have seen double-digit gains, with Mantle climbing 12.1% and Avalanche jumping 10.7%. Other gainers include Aster, NEAR, CRO, and Stellar, while Bitcoin and Ethereum remain flat after a volatile week.

Bitcoin and Ethereum ETFs experienced significant outflows totaling $439 million on Monday, following last week's inflows, as investors adjusted to the Federal Reserve's rate cut and awaited inflation data. Analysts suggest that these redemptions were driven by short-term positioning and profit-taking, rather than indicating a structural bear market.