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1️⃣ Tether Reports $13 Billion In Net Profits For 2024 💰
According to a fourth-quarter and year-end attestation published Friday, stablecoin issuer Tether saw record-breaking profits of $13 billion in 2024. The attestation was reviewed by the independent accounting firm BDO. Tether also saw its direct and indirect exposure to U.S. Treasurys hit a record high of $113 billion. The growth in the company’s Treasury holdings reflects the growing popularity of the USDT stablecoin which is backed 1:1 with liquid US dollar-denominated assets. Tether CEO Paolo Ardoino stated that the stablecoin issuer plans to launch new products across artificial intelligence platforms, telecommunications, education and other areas.
2️⃣ Elon Musk’s Father Promotes ‘Musk It’ Solana Meme Coin 🧐
According to a Fortune Crypto report, Errol Musk (Elon Musk’s father) and his business partner Nathan Browne plan to raise between $150 million and $200 million from a memecoin project called “Musk It.” Errol Musk explained that he plans to use the proceeds to support a new, for-profit think tank called the Musk Institute that he is founding.
When asked about potential buyers associating the coin as a means to monetise on his son’s fame, Errol stated,
I’m the head of the family. It really started with me in our family—I’ve been ‘Musking It’ for years.
3️⃣ Grayscale Debuts New Dogecoin Trust ▶️
Asset manager Grayscale announced the launch of a Dogecoin Trust early Friday morning. The new fund offers institutional and accredited investors the opportunity to allocate to the popular dog-themed meme coin.
The firm stated,
Grayscale believes DOGE has transitioned from a memecoin of a Shiba Inu to a tool for global financial inclusion, grassroots activism, and a viable means of payment. Due to its widespread accessibility, affordability, and rapid transaction speeds, DOGE has garnered significant adoption worldwide.
4️⃣ 21Shares Files With SEC For Spot Polkadot ETF ‼️
Asset manager 21Shares reportedly filed a registration statement with the US Securities and Exchange Commission (SEC) to launch a spot Polkadot exchange-traded fund (ETF) in the U.S. According to the filing, 21Shares plans to list the 21Shares Polkadot Trust on the Cboe BZX exchange, with Coinbase acting as the custodian. Notably, this comes just four years after 21Shares launched a similar product in Switzerland.
5️⃣ Uniswap V4 Launches On 12 Chains ⚡️
Decentralised exchange (DEX) platform Uniswap has announced the official release of its v4 DEX on 12 blockchain networks. Notably, the latest version turns the protocol into a developer platform. The upgraded DEX introduces “hooks” - plugins that let developers create custom logic for cryptocurrency trading pairs. Uniswap v4’s hooks include tools for dynamically adjusting swap fees, lending unused liquidity for added yield, automatically hedging against impermanent loss and protecting against maximum extractable value (MEV) strategies, such as sandwich attacks. The Uniswap Foundation reportedly issued grants to roughly 800 developers to create a total of 150 unique hooks. The platform plans to expand v4 to more chains in the coming weeks.
