This week in crypto highlights major industry moves, including bold blockchain expansions, market updates, and regulatory milestones. From DTR’s global ambitions to Binance’s stablecoin push, here’s what shaped the week.
Biggest Story
1. Akshay Naheta’s DTR Eyes Big Expansion
This week, Akshay Naheta, the former SoftBank visionary behind the iconic Nvidia deal, made headlines with his ambitious plans for Distributed Technologies Research (DTR). Currently facilitating billions in blockchain payments across 40 countries, DTR is aiming to expand into 100 countries by next year. To achieve this, the company plans to raise substantial funds by selling a portion of its business. With a focus on entering the U.S. market, Naheta is already in talks with prominent investors about making this vision a reality.
This move could cement DTR’s position as a leading player in the blockchain payment space, signalling a new wave of innovation and adoption in the industry.
Other Stories Making Waves
- Binance and Circle shake up stablecoins: Binance just teamed up with Circle, the company behind USDC, to make stablecoins a bigger deal. The exchange is rolling out USDC across its 240 million users, even adding it to its treasury assets. CEO Richard Teng called it a game-changer for digital finance.
- Gemini’s Shiba Inu Leverage Play: Gemini Foundation launched SHIB/GUSD perpetual contracts with up to 100x leverage. It’s only available in select regions, but it’s a big deal for traders who want to bet on SHIB prices without owning the token.
- Another Japanese Company Goes Big on Bitcoin: Japan’s Remixpoint just bought $1.38 million worth of Bitcoin, bringing the total worth of their crypto stash to over $27.59 million. The company is following in the footsteps of fellow Tokyo-based company Metaplanet, which adopted a Bitcoin-first strategy in May.
- Ripple CEO Claps Back at 60 Minutes: Brad Garlinghouse is NOT happy with 60 Minutes. He says they totally ignored Ripple’s big legal win against the SEC, where XRP was declared not a security. Instead, they aired claims that crypto has no utility.
- Kraken Fined AUD 8 Million for Illegal Credit Services: The Australian Federal Court fined Kraken’s local operator, Bit Trade, AUD 8 million (USD 5.2 million) for promoting a risky margin product without required regulatory safeguards and leaving customers with over $7 million in fees and interest and $5 million in trading losses.
Around the World: Bold Moves and Crypto Regulations
Anantha Nageswaran Advocates For Balanced Crypto Regulation: India’s Chief Economic Advisor, V. Anantha Nageswaran, urged regulators to foster crypto innovation while maintaining transparency and accountability, stressing the need for a balanced approach.
Hong Kong’s Crypto Makeover: Updating Rules for the Future: The city’s authorities are contemplating adding Bitcoin to their reserves, but there is no decision yet. Meanwhile, its tax perks for crypto investors are already making waves and attracting big names to their financial hub.
Vancouver’s Bold Bitcoin Move: Mayor Ken Sim is pushing for Bitcoin to join the city’s financial reserves, saying it could shield them from inflation. By 2025, we’ll know if this bold plan will actually take off.
Russia Eyes Bitcoin for Its Treasury: Russia’s thinking of stacking Bitcoin as a reserve asset. A lawmaker says it’s their answer to inflation and sanctions.
BitOasis Earns Dubai’s Crypto Gold Star: Dubai’s BitOasis has officially nailed its full Virtual Asset Service Provider license! After some regulatory drama earlier, they’re now ready to expand in the Middle East.
Market Trends: Winners and Losers
Top 5 Gainers ????
According to data from CoinMarketCap, the five biggest gainers for this week are:
- Bitget Token: Market cap increased by 33.7%, rising from $3,318,670,077 to $4,435,688,535.
- Aave: grew by 7.1%, moving from $4,235,049,727 to $4,536,330,661.
- dYdX (Native): Saw a rise of 16.4%, climbing from $1,170,179,274 to $1,362,002,800.
- Virtuals Protocol: Gained 10.5%, with its market cap increasing from $1,734,951,530 to $1,917,759,433.
- Chainlink: grew by 18. 1 % from $15,546,171,826 to $18,357,268,796.
Top 5 Losers ????
According to data from CoinMarketCap, the five biggest losers for this week are all memecoins:
- JasmyCoin: Decreased by 13.0%, from $2,522,900,024 to $2,195,858,985.
- EOS: Down by 20.3%, from $2,102,329,138 to $1,674,602,475.
- Worldcoin: Reduced by 17.9%, from $2,902,734,681 to $2,382,096,281.
- Gala: Fell by 13.1%, from $2,170,293,879 to $1,887,591,268.
- Bittensor: Suffered a significant loss of 14.9%, from $5,214,190,188 to $4,438,256,704
Project Spotlight
Captain Laserhawk: Ubisoft’s Web3 Gaming Revolution
Ubisoft and Arbitrum are redefining gaming with Captain Laserhawk: The G.A.M.E., a Web3-enabled top-down shooter launching on December 18, 2024. Built on Arbitrum’s Ethereum Layer-2 network, the game integrates blockchain and NFTs into its immersive universe. Players can own dynamic Niji Warrior NFTs, which evolve with gameplay performance and unlock exclusive rewards, governance rights, and cross-franchise perks. Based on the Netflix series Captain Laserhawk: A Blood Dragon Remix, the title merges nostalgia with futuristic mechanics.
Why It Matters
Captain Laserhawk: The G.A.M.E. highlights the convergence of gaming and Web3, offering players true asset ownership, community-driven development, and cross-franchise rewards. It exemplifies how blockchain can transform traditional gaming into a more immersive, player-centric ecosystem.
Disclaimer: This article is intended solely for informational purposes and should not be considered trading or investment advice. Nothing herein should be construed as financial, legal, or tax advice. Trading or investing in cryptocurrencies carries a considerable risk of financial loss. Always conduct due diligence.
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