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🪨 Here We Go Again: Pet Rock JPEGs on Bitcoin, Ethereum Sell for Over $100K On Friday, two separate on-chain images of illustrated rocks—one hosted on Ethereum as an NFT, the other inscribed on Bitcoin as an Ordinal—sold for six-figure respective sums on secondary markets. An NFT from the EtherRocks collection, EtherRock #95, traded hands this morning for 100 ETH, or just over $209,000. Just hours prior, an Ordinal from the visually identical Bitcoin Rock collection sold for 2.99 BTC, worth just over $111,000 at writing.

What do you think about the existing Canadian Bitcoin and Ethereum ETFs? There's been some strong price action for both Bitcoin and Ethereum over the last few weeks, following some news about it being likely that Bitcoin and Ethereum ETFs will be approved. For a long time, people have viewed the advent of ETFs as the next big bull milestone. In Canada, there already is a Bitcoin ETF and an Ethereum ETF that have $1.1B under management and $200M under management, respectively. Both have been around since early 2021 and hold the true underlying coins in cold storage. I wonder what this will mean for how US ETFs for Bitcoin or Ethereum will be received. Granted, Blackrock is a more respected institution than Purpose Investments and may have lower fees, but I don't know if it really matters. Wondering if this is a "buy the rumor, sell the news" kind of bearish outlook. #tidder #ETF

🥇 Meet Midas: A New Yield-Bearing Stablecoin Investing in U.S. Treasuries A new addition to the current convergence trend between crypto and traditional finance is Midas, a stablecoin backed by U.S. Treasuries that's planning to unleash its stUSD token on decentralized finance (DeFi) platforms like MakerDAO, Uniswap and Aave in the coming weeks, according to a presentation deck seen by CoinDesk. The Midas stablecoin project intends to buy Treasuries via asset manager BlackRock and use Circle Internet Financial's USDC stablecoin as an on-ramp, according to the deck. Custody technology provider Fireblocks and blockchain analytics firm Coinfirm are also listed as institutional partners.