Crypto Monday: Weekly market prep
1. Poland's Central Bank rejects Bitcoin as a reserve currency due to security concerns
During a recent press conference, Adam Glapiński, the President of the National Bank of Poland and chairman of the Monetary Policy Council, reinforced the central bank’s priority to maintain the absolute security of its reserve assets. Glapiński stated, "Under no circumstances will we consider Bitcoin because reserves must be absolutely secure." Poland continues to rely predominantly on traditional assets such as gold, the US dollar, and the euro for its reserves, emphasizing financial stability and the importance placed by institutional investors on the safety and stability of assets.
2. AllianceDAO founders discuss AI+Crypto project viability and tokenization trends
Imron Khan and Qiao Wang, founders of Web3 venture accelerator AllianceDAO, discussed on a recent podcast that many AI and blockchain projects seem forced. They argue that successful projects should integrate AI seamlessly into blockchain applications, allowing users to experience enhanced product performance without overly focusing on the underlying technology.
They also noted that tokenization is becoming a popular model for startups. Notably, the rumor about the US possibly establishing a Bitcoin strategic reserve has captured market attention and could significantly drive institutional investment demand if implemented. Public chain competition sees Solana favored for its performance, while Base chain from Coinbase faces challenges due to insufficient liquidity. New public chains like Sui and Aptos are also making inroads, challenging traditional L2 solutions.
3. Solayer reveals LAYER tokenomics with a community focus
Solayer has disclosed the economic model for its LAYER token, which has a total supply of 1 billion tokens, with an initial circulation of 220 million. 51.23% is allocated for community and ecosystem incentives, 17.11% for core contributors, 16.66% is already sold to investors, and 15% is reserved for the Solayer Foundation to support product expansion and network growth. LAYER tokens will be utilized for governance, protocol upgrades, ecosystem incentives, and future blockchain validation rewards.
4. Trump Family's crypto ventures plan token reserve
Chase Herro, co-founder of World Liberty Financial, announced plans to establish a "strategic reserve" by purchasing tokens, although specifics of the reserve's purpose remain unclear. The Trump family's crypto assets, valued at approximately $15.6 billion, include memecoins, DeFi apps, NFTs, and the newly launched investment business, Truth.Fi. The memecoin TRUMP alone is valued at $14 billion. CIC Digital LLC and Fight Fight Fight LLC hold 80% of TRUMP tokens, representing over $14 billion in paper value. According to Trump's 2024 financial disclosures, he owns CIC Digital entirely.
5. Plume team collaborates at Ondo Summit to discuss future growth
The Plume team participated in the Ondo Summit, engaging in discussions about the future developments of Ondo Global Markets and Ondo Chain.
Ondo Chain, led by former McKinsey partner Ian De Bode, is a layer 1 blockchain designed for institutional-grade finance and developed in collaboration with major institutions such as BlackRock, PayPal, and Morgan Stanley. It aims to provide financial services to institutions by tokenizing assets like US Treasury bonds and attracting institutional investors.
Plume, branded as "Robinhood 2.0," focuses on community and retail users, with over 180 projects and more than a million X followers, driving user and capital flow towards partners by leveraging Ondo's institutional seller ecosystem and Plume's on-chain buyer ecosystem to advance the development of Real-World Assets (RWA).
Disclaimer
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