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Yield-bearing stablecoin issuer Mountain Protocol raises $8 million in Series A round
Yield-bearing stablecoin issuer Mountain Protocol raises $8 million in Series A round

Quick Take Mountain Protocol has raised $8 million in Series A funding led by Multicoin Capital. The issuer of the yield-bearing USDM stablecoin targets 10x growth in USDM supply to 500 million tokens by year-end, co-founder and CEO Martin Carrica told The Block.

The Block·2024/06/06 15:04
How Bitcoin ETFs fared over their first five months
How Bitcoin ETFs fared over their first five months

Grayscale was holding about 619,220 BTC when the spot ETFs started trading, worth over $28.5 billion at the time.On May 29, IBIT took that top spot, dethroning Grayscale as the spot bitcoin ETF with the most assets.We now have a benchmark for how long it took Grayscale to fall from the largest AUM on the bitcoin side, and now time will tell if it’s longer or shorter on the ether side.

The Block·2024/06/06 14:10
Runes tamp down BRC-20 activity
Runes tamp down BRC-20 activity

Quick Take The following is an excerpt from The Block’s Data and Insights newsletter.

The Block·2024/06/06 14:07
Flash
18:03
A fire has occurred at Delta Air Lines' refinery in Pennsylvania, USA.
Monroe Energy, a subsidiary of Delta Air Lines, stated in a press release that the fire occurred at around 11:30 am, originating in the pump room of a process unit. According to the statement, onsite firefighters responded to the incident immediately and are "taking all necessary measures to extinguish the fire." The company added that air monitoring currently shows no safety risk to the surrounding area.
17:57
XRP price falls to $1.04, 90-day moving average hits lowest level since August 2022
XRP price dropped to $1.04, and the 90D-SMA fell to 0.33, the lowest level since August 2022. Selling pressure has intensified, and each new low in this ratio reflects more participants exiting at a loss, while profit-taking activity is unable to offset the losses. (glassnode)
17:47
IMF: It will take time for energy and commodity prices to return to normal after the US-Iran agreement
IMF spokesperson Julie Kozack stated at a press conference that the organization will decide whether to continue using the three economic growth forecast scenarios, which were proposed in April and depend on the outcome of the Iran war, when it releases the World Economic Outlook update report on July 8. Kozack said that with some central banks taking interest rate hike measures, inflation expectations have been effectively anchored; meanwhile, financial conditions remain loose, and both developed countries and emerging markets are able to access international financing markets. Show more
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