CryptoEconomy

MEV Capital's assets under management plummeted 80% from $1.5 billion to $300 million due to the deUSD stablecoin's devaluation, leading to significant staff layoffs and operational challenges. The firm's revenue dropped 92%, and partners are reassessing their collaborations.

TL;DR
JPMorgan identifies US crypto legislation as the key variable for markets.
Senate negotiations remain stalled over stablecoin reward payments to users.
Bitcoin hit $126,000 in October 2024 but later erased those gains.
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JPMorgan rarely flags speculative scenarios without concrete

PIPPIN's price surged 11.6% on Solana, reaching $0.83 and leading the AI-memecoin market. With a market cap over $880 million, concerns arise over potential supply concentration and volatility. Market dynamics and social media sentiment will affect its future trajectory.

A hacker is exploiting misconfigurations in DeFi lending protocols, resulting in losses of about $3.5 million. The recent attack on Ploutos Money, due to an oracle error, caused a loss of nearly $400,000.

Crypto.com Research notes improving stablecoin distribution but declining total value locked (TVL) in DeFi, especially on Ethereum. While some networks show resilience, most DEXs face liquidity decreases.

Indiana lawmakers passed House Bill 1042, which supports Bitcoin by safeguarding the right to use and hold it, recognizing cryptocurrency in legal terms, and allowing digital assets in retirement plans. The bill now awaits the governor's decision.

The South African government will soon propose regulations to integrate cryptocurrencies into capital flow management, following a court ruling on their legal status. This aims to enhance control over digital assets, focusing on anti-money laundering measures and defining responsibilities for investors.