CoinDesk

Private credit has emerged as a significant player in the crypto asset tokenization trend, with over $600 million worth of on-chain assets currently outstanding. This development highlights the growing adoption of blockchain technology in the financial sector, enabling the tokenization and trading of various asset classes on decentralized platforms.

According to reports, an interoperability protocol has announced that there will be a series of upcoming airdrops. No further details have been provided at this time regarding the specifics of these airdrops or the projects involved.

A mining company is evaluating various strategic alternatives, including the potential sale of the entire company or certain assets, as well as other potential transactions. The company has not provided further details at this time regarding the specific options under consideration or the timeline for any decisions.

Ironlight, a new venture led by former executives from major financial institutions, aims to establish itself as a leading ecosystem for tokenizing, listing, and trading real-world assets. The company is helmed by the former global head of trading at Schroeder and an adviser from the Abu Dhabi Investment Authority (ADIA), along with the former CEO of TD Bank serving as an adviser. Ironlight's goal is to facilitate the tokenization and trading of real-world assets, potentially disrupting traditional asset markets.

Mirror, a decentralized publishing platform, and Paragraphs, a competing Web3 publishing company, have announced a merger deal. Under the agreement, Mirror's team will continue operating as an independent entity focused solely on social media publishing within the Web3 ecosystem. The move is seen as a strategic consolidation in the rapidly evolving decentralized publishing space.

According to reports from various news outlets, the lawyer representing Binance, a major cryptocurrency exchange, has requested more time to examine the evidence in an ongoing legal case. The specific details of the case and the nature of the evidence were not disclosed.

This is a daily newsletter from CoinDesk providing analysis and context on the latest price movements and developments in the Bitcoin and cryptocurrency markets for May 2, 2024.

According to the head of digital assets at a leading asset management firm, the company has been actively educating pension funds, endowments, and sovereign wealth funds about the recently launched spot bitcoin exchange-traded funds (ETFs). These new investment products provide institutional investors with a regulated and convenient way to gain exposure to bitcoin, the world's largest cryptocurrency by market capitalization.

According to reports, traders have recently sold $80,000 worth of Bitcoin (BTC) call options set to expire at the end of May. The move is said to be an attempt to generate additional yield from their positions. Call options give the holder the right, but not the obligation, to purchase the underlying asset at a predetermined price within a specific time frame.

Patrick Gruhn, the former head of FTX Europe, has paid nearly $1.5 million for a gold pocket watch recovered from the body of the Titanic's richest passenger, according to a report by The Wall Street Journal.