Democrats Delay Progress on Major Crypto Bill

**Aave launches new app** promising over 5% annual yield on user deposits, outperforming traditional money market funds. The DeFi protocol announced the feature in a recent blog post, positioning itself as a **higher-yield alternative** to conventional savings options. **Key highlights:** - Annual returns exceed 5% on deposits - Performance beats money market fund rates - Available through dedicated Aave App Meanwhile, **Aave on Aptos** has reached a significant milestone, crossing **$25 million in total deposits**. Users can join the waitlist at [aave.com/app](https://aave.com/app) to access the platform.

**Cronos (CRO) declined 5.8%** over the weekend, joining Internet Computer (ICP) among the market's underperformers. This marks another challenging period for CRO, which has struggled alongside other altcoins in recent trading sessions. - Weekend trading saw increased selling pressure - ICP also faced similar downward momentum - Both tokens lagged behind broader market performance The decline reflects ongoing volatility in the altcoin sector as investors remain cautious about risk assets.

**MicroStrategy pivots funding strategy** as stock price decline makes common share sales unfeasible. - Company now issuing **preferred shares** instead of common stock - Previous $26 million purchase funded through preferred share sales - Strategy shift reflects challenges from **cratering stock price** This marks a significant change in MicroStrategy's capital raising approach, moving away from their traditional common stock issuance model.

**Bitcoin ETFs demonstrate surprising stability** amid market turbulence, with assets under management declining only 4% while bitcoin's price plummeted 25%. **Key market developments:** - ETF assets proving more resilient than underlying bitcoin price - Bitcoin broke below critical $100,266 support level - Technical analysis points to potential slide toward $93,000-$95,000 range **Broader context:** - Ether ETFs facing steeper losses at 7% over five weeks - Market sentiment remains in "fear territory" - Altcoins experiencing sharper pullbacks than major cryptocurrencies This divergence between ETF performance and bitcoin's price action suggests **institutional investors may be holding positions** despite volatility, potentially indicating longer-term confidence in the asset class.

A new initiative backed by the **Tony Blair Institute** and **World Economic Forum** plans to transform trade across Africa using USDT payments. The partnership targets all **55 African nations** with the goal of overhauling traditional trade payment systems. This builds on previous efforts to integrate USDT for cross-border payments in developing regions. Key aspects: - Partnership between major global institutions - Focus on stablecoin payments for trade - Continental scope across entire Africa - Aims to improve payment efficiency The initiative represents a significant step toward mainstream adoption of digital currencies in international trade, particularly in emerging markets where traditional banking infrastructure faces challenges.