The US just pulled back its warning against crypto in retirement accounts 🇺🇸
If you're not from the US — 401(k)s are how many Americans invest for retirement through their employers. These accounts get tax benefits and hold over $7 trillion in total. Until now, crypto was basically off-limits. The government told plan managers to avoid it unless they wanted trouble 😮
That’s now changed. The Department of Labor says it won’t interfere anymore. If a retirement plan wants to offer Bitcoin or other crypto, that’s their decision. It’s not a green light, but it removes a major blocker that’s been in place since 2022, when Biden was a president.
😉 This doesn’t mean Bitcoin will suddenly show up in everyone’s pension. But it clears space for large institutions to start taking it more seriously as a long-term asset. And that’s exactly where the real flows will come from, very bullish news IMO
#WCT #TRB #CETUS #AIXBT #COOKIE #HEI #CGPT #JUP #VANRY #SOPH #MBC #HNB #MTHN #GORILLA #PHIL #RICE #LIBRA #MAMO #POP #TICO
May 29 Update:
10 #Bitcoin ETFs
NetFlow: +4,007 $BTC(+$430.25M)🟢
#iShares(Blackrock) inflows 4,476 $BTC($480.62M) and currently holds 663,773 $BTC($71.27B).
9 #Ethereum ETFs
NetFlow: +30,183 $ETH(+$80.14M)🟢
#iShares(Blackrock) inflows 19,977 $ETH($53.04M) and currently holds 1,370,710 $ETH($3.64B).
May 29 Update:
10 #Bitcoin ETFs
NetFlow: +4,007 $BTC(+$430.25M)🟢
#iShares(Blackrock) inflows 4,476 $BTC($480.62M) and currently holds 663,773 $BTC($71.27B).
9 #Ethereum ETFs
NetFlow: +30,183 $ETH(+$80.14M)🟢
#iShares(Blackrock) inflows 19,977 $ETH($53.04M) and currently holds 1,370,710 $ETH($3.64B).
https://x.com/lookonchain/status/1927755751809843668
The @0xSoulProtocol Public Round ended with a full raise of $6.19M
Why did $SO attract so much attention from CT and investors, and what will happen now?
⚫ Soul is the unified Omnichain liquidity layers
Probably one of the best uses of @LayerZero_Core tech I've seen in quite some time
DeFi liquidity fragmentation has always been a problem, and bridge are always an annoying extra risk
But Soul goes one step further
Thanks to it, you can have an omnichain money market:
Provide collateral on any chain, borrow on any chain, get the best yields without having to move funds through chains and protocols
⚫ The $SO token
Not just a governance token, $SO is also at the heart of the Soul flywheel
( ) It will be distributed as rewards to incentivize LPers to jump on board
( ) It will be bought back from the market with a % of the fees and revenues generated by the protocol
We have a true first-mover here, which you might want to keep an eye on