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Crypto Alliance Demands Bold Action: Add BRCA to Clarity Bill Now

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  • BRCA aims to shield non-custodial developers from regulations
  • Eight crypto groups urge Congress to adopt pro-DeFi amendment
  • Lawmakers seek to exclude open-source coders from money laws

A coalition of eight crypto policy groups has asked Congress to include the Blockchain Regulatory Certainty Act (BRCA) in the Digital Asset Market Structure Bill. The groups believe that the amendment will provide clear regulations to developers and infrastructure providers in the blockchain sector.  They believe this will secure innovation and guarantee that non-custodial actors in DeFi remain legally protected.

BRCA Protects Blockchain Developers

The act seeks to shield blockchain developers and service providers from financial regulations for custodial businesses. The groups stress that those who create non-custodial software should not be treated the same as traditional banks and financial institutions. They believe that those standards would hold back innovation and slow open-source development.

The group includes DeFi Education Fund, Coin Center, Paradigm, Solana Policy Institute, Blockchain Association, Digital Chamber, Crypto Council for Innovation, and Bitcoin Policy Institute. In a statement, the group asked lawmakers to prioritize the protection of developers who do not control customer funds. Their main aim is to ensure that decentralized platforms are not affected by money transmission laws.

Rep. Tom Emmer introduced BRCA and Rep. Ritchie Torres has supported it and the bill has gained bipartisan support in Congress. The bill seeks to make it clear that custodial entities are different from those who offer open-source software tools. Those supporters of the bill say the current laws expose developers and startups to unnecessary dangers.

BRCA Promote Crypto Innovation

Most developers in the decentralized finance sector publish code that offers blockchain-based financial services, but do not interact with users’ assets. Therefore, the groups contend that such developers should be excluded from money transmitter licensing requirements. They claim that without BRCA, there could be legal problems or actions taken against companies.

The coalition states that adding BRCA into the market structure bill would motivate companies. Moreover, they believe this could strengthen the U.S position in blockchain and decentralized finance. In addition, it would lead to a more competitive and secure system for blockchain projects.

CLARITY ACt Gains Momentum

The Market Structure Bill, also known as the CLARITY Act, has drawn a lot of attention across the crypto sector.  According to Stuart Alderoty, Ripple’s Chief Legal Officer, the legislation is what the industry needs as it grows.

Maxine Waters has pointed out that political influence is a concern in creation of crypto laws. She expressed concerns that the bill could follow partisan interests and could have hidden aims. Her statements show that there is still division about how digital assets should be regulated by the federal government.

Related Reading | Uber’s Bold Move: Bitcoin Payments Coming Without Crypto Risks

Basel Medical Group Plans $1 Billion Bitcoin Buy to Boost Treasury Growth

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  • Basel Medical plans a $1B Bitcoin acquisition to strengthen its balance sheet in Asia.
  • BMGL shares fell 15% after revealing its exclusive $1B Bitcoin treasury negotiations.
  • Corporate Bitcoin holdings globally now total about $80B, led by firms like MicroStrategy.

Basel Medical Group Ltd (Nasdaq: BMGL) disclosed that it is in talks to purchase Bitcoin worth over $1 billion. The company intends to use this asset purchase to strengthen its treasury significantly compared to other Asia-focused healthcare firms. Management said the move would allow Basel Medical to accelerate its expansion strategy across high-growth Asian healthcare markets.

Strategic Bitcoin Acquisition to Enhance Corporate Balance Sheet

According to an official statement, Basel Medical Group is negotiating a deal with major investors to acquire Bitcoin through an innovative share-swap arrangement. The company’s CEO, Dr. Darren Chhoa, stated the initiative will provide unprecedented financial strength and flexibility. He emphasized that the transaction would position Basel Medical with one of the strongest balance sheets among healthcare providers focusing on Asia.

The company expects this capital administration to enhance its ability to participate in future mergers and acquisitions. The firm anticipates that a treasury backed by Bitcoin will assist in building strong financial foundations and reducing market volatility risks. The company aims to finalize transaction terms by the end of this quarter, following approval from regulatory authorities and the firm’s shareholders.

Market Reaction and Corporate Bitcoin Trend

The announcement sparked an immediate sell-off in the stock market, which caused Basel Medical Group’s shares to tumble by over 9%. The drop in Basel Medical shares indicates investors’ cautious approach to businesses that invest in Bitcoin. Similarly, GameStop saw its market capitalization fall by over $3 billion in March when it revealed its strategy to invest in Bitcoin.

image 208
Source: Google Finance

Basel Medical’s move aligns it with other public firms, including Japan’s Metaplanet and Semler Scientific, which have adopted Bitcoin as part of their treasury strategies. MicroStrategy pioneered this approach and now holds nearly 569,000 Bitcoins, becoming a leader among corporate Bitcoin holders. Corporate treasuries worldwide now control about $80 billion in Bitcoin, according to BitcoinTreasuries.net.

Healthcare Growth Strategy Anchored in Digital Assets

Basel Medical Group, specializing in orthopedic and trauma services, sees the Bitcoin acquisition as a step toward building a premier healthcare platform in Southeast Asia. 

The group recently acquired Bethesda Medical, marking the beginning of its regional expansion strategy. Management expects the strengthened balance sheet to enable quick responses to strategic opportunities in Asia’s rapidly growing healthcare sector.

According to Dr Chhoa, the purchase will enable Basel Medical Group to become more flexible and resilient in expanding into new markets and business sectors.

Related Reading | Ripple’s RLUSD Gets Massive Boost as Banxa Unlocks Global Support

TRON DAO adopts Chainlink Data Feeds, securing over $5.5B DeFi TVL and boosting security

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  • TRON DAO secures over $5.5B in DeFi TVL by adopting Chainlink Data Feeds as its oracle.
  • TRON DAO uses Chainlink instead of WINkLink for better and more reliable data in DeFi.
  • TRON DAO’s DeFi apps gain robust data integrity with Chainlink Data Feeds adoption.

TRON DAO announced on May 15, 2025, that it has chosen Chainlink Data Feeds as its oracle network solution for its blockchain ecosystem. The decision was made after TRON joined the Chainlink Scale program in October 2024. With Chainlink, TRON DAO increases the security and reliability of decentralized finance (DeFi) applications on its platform which currently holds over $5.5 billion in total value locked (TVL)..

Chainlink Data Feeds are known for being trustworthy, accurate, and verifiable sources of information on blockchain networks. With this integration, JustLend and JustStable on TRON, together with other decentralized applications, can now use Chainlink oracles. These applications are fundamental for the safety of user assets and financial transactions.

Strategic Move Reinforces TRON’s Blockchain Security

TRON DAO’s shift to Chainlink oracles indicates its strong focus on robust blockchain security.  With this move, TRON DAO halted support for WINkLink, which used to be its oracle service provider. By incorporating this change, DeFi projects benefit from greater data integrity, transparency and reliability which are essential for the platform’s success.

Thodoris Karakostas, Head of Blockchain Partnerships at Chainlink Labs, highlighted the significance of this adoption. “We’re excited that the TRON community has upgraded to Chainlink Data Feeds as the official data oracle solution,” Karakostas said. He highlighted that integrating Chainlink allows TRON to boost the scale of its DeFi infrastructure, which is essential for ecosystem expansion.

Supporting TRON’s Long-Term Blockchain Vision

Adding Chainlink to TRON DAO is part of its goal to ensure Internet decentralization through blockchain technology. TRON was established in 2017 by Justin Sun, and since the MainNet launch in May 2018, the platform has seen fast development. As of May 2025, the circulating supply of Tether (USDT) stablecoin on TRON has reached $73 billion positioning it globally with over 306 million user accounts and a TVL of $23 billion.

Community spokesperson Sam Elfarra noted the new oracle system’s practical benefits. “By integrating Chainlink Data Feeds, TRON DAO strengthens its DeFi ecosystem with a secure and reliable infrastructure,” Elfarra said. This infrastructure empowers developers to construct more scalable, innovative, and secure decentralized financial solutions.

Furthermore, blockchains are using Chainlink as the standard for verifying data. Swift, Fidelity International, ANZ Bank, Aave and GMX rely on it to support their financial operations and DeFi activities. The oracle provider enables over $20 trillion of blockchain transactions worldwide, ensuring confidence and security in financial markets.

Related Reading | Telegram Silently Dismantles $27B Darknet Giant Haowang Guarantee

New York’s Attempt to Classify Ethereum as a Security Faces SEC Pushback

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  • New York sought the SEC’s backing to classify Ether as a security in the KuCoin case.
  • Coinbase’s FOIA request unveiled the SEC’s reluctance to classify Ether as a security.
  • After operating without state registration, KuCoin settled with New York for $22M.

Newly revealed documents, obtained through a Freedom of Information Act (FOIA) request filed by Coinbase, shed light on New York’s attempt to have the U.S. Securities and Exchange Commission (SEC) declare Ethereum’s Ether (ETH) as a security during a 2023 case against cryptocurrency exchange KuCoin.

The request, outlined in a series of documents acquired by Coinbase under the Freedom of Information Act (FOIA), sheds more light on current controversies surrounding Ethereum’s regulatory position.

New York Attorney General’s Request for SEC’s Opinion

In June 2023, Shamiso Maswoswe the chief of the Investor Protection Bureau at the New York Attorney General’s office requested the SEC’s involvement. She asked the agency to file an amicus brief supporting the argument that Ether should be classified as a security. Although the New York Department of Financial Services (DFS) has authority over securities and commodities, Maswoswe emphasized that having the SEC’s view would benefit investor protection. “Whether it is or not will not be dispositive in our case,” Maswoswe wrote, stressing that the court’s ruling on the classification of Ether would be crucial for future legal clarity.

Despite the request, the SEC did not provide the clear stance New York hoped for. Internal communications from the SEC show that the agency had hesitated to define its position on Ether publicly. Earlier, the SEC had suggested that Ethereum might be considered a commodity, similar to Bitcoin (BTC). Still, it remained uncertain, particularly following Ethereum’s shift to a proof-of-stake consensus mechanism.

The SEC’s Reluctance to Declare Ether as a Security

The SEC’s opinion concerning ether has been debated at the agency for years. At first, the agency seemed to treat ETH as a commodity, just like Bitcoin (BTC). However, the SEC’s opinion shifted as Ethereum moved to a proof-of-stake (PoS) consensus mechanism. Internal communications revealed that while the SEC had indicated doubt when classifying ETH as an asset, it was inclined toward treating it as a commodity.

The SEC’s reluctance to make a clear ruling regarding the status of ether reflects the regulators’ current difficulties in classifying digital assets. This hesitancy by the SEC to resolve the issue leads to wider regulatory confusion, which hinders the creation of clear jurisdictions for the industry.

Ongoing Uncertainty in Cryptocurrency Regulation

The release of these internal SEC documents as part of Coinbase’s broader effort to release over 10,000 records acquired through FOIA requests points to the cryptocurrency industry’s ongoing regulatory challenges. 

Although the SEC insists on going after crypto companies to pursue enforcement actions, internal communications clearly show no consensus on regulating digital assets. These documents also shed light on the SEC’s broader stance towards other cryptocurrencies, including Ripple’s XRP which the SEC has investigated for possible securities law violations.

TRON Hits 28,788 Blocks Per Day in 2025, Achieving 99.96% Efficiency

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  • In 2025, TRON generated 28,788 blocks daily, just 12 away from reaching its full production capacity.
  • With a 99.96% block production efficiency in 2025, TRON shows significant improvement over previous years.
  • Community-driven voting allows TRON’s Super Representatives (SRs) to shift positions, ensuring decentralization.

The TRON network achieved an important objective by creating 28,788 blocks per day in 2025, leaving only 12 blocks until it reached its full capacity. The data from CryptoQuant demonstrates that block production efficiency is improving through this block output performance. The TRON network operates with blocks formed in an average three-second window, which allows it to function efficiently while remaining synchronous. The accomplishment demonstrates TRON’s advancement toward becoming a dependable blockchain platform.

The TRON blockchain maintains a total block generation period of exactly three seconds. The timed interval slots match exact time allocations where block producers execute their block production tasks. After an SR fails to complete their assigned task, another SR takes over to prevent system downtime. The implementation of this system ensures network-wide performance stability.

TRON’s Block Production Efficiency

The platform achieved a remarkable block production efficiency level of 99.96% during 2025. Block production efficiency during June 2020 through June 2021 reached 99.3% but increased remarkably to 99.96% between 2020 and 2021. Since 2025 began, most days have reported block production above 99.97%. The network demonstrates advanced stability and reliability due to an ongoing stream of improvements.

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Source: X

Production efficiency on the network displayed higher volatility in past times. During the month of November 2020, the block production efficiency measured only 91.9%. A significant number of days during this period exhibited block production efficiencies lower than 96%. Block production efficiency on the network reached a stable position above 99% starting in March 2024, which represents a major advancement in network reliability.

Production efficiency rates below a specific threshold have experienced substantial decline. The TRON blockchain network experienced 14 reduced-efficiency days throughout April 2021. The network has achieved complete elimination of production efficiency periods below 99% by 2025. ENS has shown continuous operational advancement, which exhibits the platform’s commitment to network efficiency enhancement throughout its existing operations.

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Source: X

Decentralized SR Role Dynamics

The network stability function of TRON depends heavily on its SRs (Super Representatives). The SR network maintains a consistent number of members, but each SR role constantly reshuffles in the network. SRs stay in position through direct voting from the decentralized community, leading to persistent position changes. The decentralized selection system operates through continuous modifications, which supports both decentralization while maintaining network competitiveness.

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Source: X

A total of thirty separate SRs participated in block creation during 2025. The network’s 24 Super Representatives combined to produce 3.71% of all blocks. The proportion of block production by 34 SRs in 2020 remained at 3.71%, although slightly different from 2025’s allocation. The distributed system of SR composition demonstrates the competitive nature through which network governance operates.

TRON’s networking capabilities and governance system show increased performance. Block production efficiency on the platform continues to improve while maintaining its position as a dominant blockchain platform. TRON demonstrates potential growth because its reliable SR system functions with better efficiency.

Read More: Trump Meme Coin Hits $14B, Then Crashes Leaving 764K Investors in the Red

TRON Hits 10 Billion Transactions: What’s Fueling Its Explosive Growth?

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  • TRON’s daily transactions have reached 8.4 million, highlighting significant growth and continued adoption of the network.
  • DeFi volume on TRON reached $4.9 billion in April, signaling recovery after a dip earlier in 2023.
  • TRON’s stablecoin market surpassed $70 billion, boosted by the minting of $1 billion USDT in late April.

TRON has shown significant growth, with its daily transactions reaching 8.4 million. TRON reached its highest levels of activity during both the 2021 and 2023 market bull periods but has demonstrated continuous daily adoption growth. The consistent surge in on-chain network usage remains frequently ignored by analysts, yet suggests excellent potential for TRON’s upcoming technical development.

TRON’s DeFi Growth and Recovery

Multiple on-chain data metrics indicate that TRON expands adoption while its business activities surge. The DeFiLlama platform shows that the current value of funds locked in the blockchain stands at $5.03 billion. The recorded value of $7 billion from earlier in 2023 has now dipped to $5.03 billion after the initial peak. 

This downward trend demonstrates recovery patterns. The volume on decentralized exchanges utilizing TRON technology achieved its highest point ever in April because it surged from $3.4 billion during March to $4.9 billion.

The stablecoin market adoption on the platform continues its upward trajectory. The stablecoin market capitalization of the network expanded from $58 billion during January to surpass $70 billion. Platform experienced a major surge in late April as it added $2.17 billion during that single week. The stablecoin market stronghold of the platform received additional support when USDT worth a billion dollars was minted on April 21.

Price Movement and Indicators

TRX appears positioned slightly below its essential resistance mark of $0.25 at its current trading price of $0.245. The market exhibits positive signs because the TRX price maintains its position above both the 50-day and 100-day moving averages. The relative strength index (RSI) is at 51, suggesting a neutral market, while the moving average convergence divergence (MACD) points to a slightly negative trend. The market participants need additional bullish signals before considering making new investments.

TRX can rise toward $0.26 to $0.265 if it manages to overcome $0.25 resistance while staying within dollar range of the upper Bollinger Band. A bullish setup will become invalid for TRX if prices decline below $0.243, triggering a potential price revisit of the $0.239 to $0.240 support zone.

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Source: TradingView

Read More: Ripple Eyes $400B Trade Hub as Dubai Grants Blockchain Payment License

Tron (TRX) breaks out as momentum builds in uncertain market

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  • Tron has held steady around $0.20 despite broader market corrections, showing strong community support and buyer interest.
  • A breakout from a descending triangle pattern has pushed TRX to $0.26, with analysts eyeing $0.27–$0.28 as a key resistance zone.
  • Holding above $0.2480 support could open the path to $0.30, while volume remains a crucial factor for confirming a sustained rally.

Tron ($TRX), in a turbulent market where many altcoins are suffering steep corrections, is standing out as a beacon of resilience. While several cryptocurrencies have plummeted to multi-month lows, Tron has managed to sustain price stability around the $0.20 level, showcasing strong buyer interest and long-term support from the community.

This steady performance doesn’t yet guarantee a sustained bullish trend, especially with Bitcoin’s price action still influencing the broader market. However, TRX has been displaying signs of strength that technical analysts are closely watching for a potential breakout.

Over the past few weeks, TRX has formed a descending triangle pattern, often regarded as a signal of accumulation before a major price move. Despite bearish market conditions, the altcoin maintained higher lows while facing downward resistance, indicating growing buying pressure.

Recently, TRX broke out above this descending triangle, pushing the price up to $0.26, which many analysts see as a key resistance zone. This breakout suggests that bullish momentum may be gaining traction, provided the price can hold above immediate support levels.

Tron shows strong bullish structure with key support

TRX’s current market structure is supported by several bullish technical indicators. The MACD (Moving Average Convergence Divergence) shows a positive crossover, with the MACD line rising above the signal line, indicating continued upward momentum. The histogram is also expanding, signaling an increase in bullish strength.

Adding to the optimism, TRX continues to trade above both its 50-day and 200-day simple moving averages (SMAs). These dynamic support levels reflect a strong uptrend, especially as the 50-day SMA has helped prevent deeper price retracements during recent corrections.

At the time of writing, TRX is hovering near $0.2516, holding above the key support zone around $0.2480. If this level continues to hold, analysts believe the next price targets lie between $0.27 and $0.30, with potential upside extending to $0.35 if volume increases and market sentiment improves.

TRX 1D graph coinmarketcap

The $0.27–$0.28 resistance range remains a crucial area to watch. A clean breakout above this zone could confirm the start of a more significant rally. Conversely, a failure to hold above the $0.22–$0.23 support range could invalidate the breakout and open the door for bearish pressure to return.

Analysts also point to a key bullish order block (OB) and fair value gap (FVG) near current price levels, marking this zone as a prime buying opportunity. The presence of strong support and a demand zone could further reinforce upward momentum if buyers step in.

Tron Targets $0.30 After Key Breakout

Despite the short-term gains, overall market sentiment toward TRX remains neutral, largely due to moderate trading volumes. For a breakout to be fully validated, a surge in volume will be essential, confirming wider investor participation and sustained buying interest.

image 149 1

That said, Tron has shown a notable ability to withstand pressure where other altcoins have faltered. Its price behavior, combined with positive technical signals and strong support zones, positions it as one of the more promising altcoins amid ongoing market uncertainty.

With a successful breakout above the descending triangle, firm support levels, and key indicators pointing upward, TRX appears to be setting the stage for a potential rally toward $0.30 and beyond. As long as it holds above its support range and Bitcoin remains relatively stable, Tron could emerge as a surprise outperformer in the coming weeks.

Investors and traders should closely monitor the $0.27–$0.28 resistance level for a possible breakout confirmation and keep an eye on volume for signs of broader market participation.

Related | Solana Price Prediction: $170 Target Looms as Key Resistance Breaks

Tron’s USDD 2.0 Stablecoin Launch Promises Bold 20% APY

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  • USDD 2.0 promises 20% APY fully subsidized by Tron DAO reserves.
  • The stablecoin relies on over-collateralization with TRX and other assets.
  • Transparency assured as yield is distributed in advance to public address.

Tron’s latest attempt at a stablecoin, USDD 2.0, offers a 20% APY, subsidized by the Tron DAO. However, the reliance on a volatile TRX token raises concerns about the coin’s long-term stability and sustainability.

Tron’s Justin Sun Announces USDD 2.0

Tron is set to launch an updated version of its stablecoin, USDD 2.0, promising a 20% annual percentage yield (APY) fully backed by Tron DAO reserves. The updated stablecoin aims to offer users a high yield and address prior community concerns after the failure of the first version of USDD. 

Tron intends to distribute the 20% yield in advance to a publicly visible address to ensure transparency. Justin Sun, the founder of Tron, emphasized that the yield will be subsidized by the Tron DAO’s substantial reserves.

“It’s simply because we have plenty of money. So, stop asking me questions like “where does the yield come from.”-Sun

However, the crypto community remains cautious because of the previous instability and concerns over USDD 1.0, which faced challenges to maintain its dollar peg. 

USDD 2.0 Backing and Collateralization

USDD 2.0 will use the ecosystem’s native token, TRX and other digital assets as collateral and maintain a collateralization ratio of 120%. The excess collateralization is meant to ensure the stability of the stablecoin. The new version of USDD promises greater transparency and stability but still faces skepticism due to its reliance on a volatile asset.

The announcement of USDD 2.0 follows the failure of the first version, which was removed from major exchanges after its backing was shifted to TRX. The initial USDD 1.0 had initially offered a 30% APY, which was later reduced after market turbulence and a major withdrawal of Bitcoin from its reserves.

However, Sun has expressed confidence in the success of USDD 2.0. The launch is part of a broader strategy to increase the adoption of the Tron ecosystem. Recently, the price of TRX surged which illustrated increased optimism from dedicated investors about the potential of the project.

How USDD 2.0 Compares with Other Stablecoins

The stablecoin market, dominated by USDT and USDC, continues to grow. The addition of USDD 2.0 introduces another competitor with a high-yield offering. Although USDD controls a relatively smaller market cap, the increased interest in stablecoins could boost its growth.

Tron’s promise of a high APY is one of the most attractive offers in the current market. However, similar promises by projects such as DAI and USDC, have faced scrutiny due to sustainability concerns. These stablecoins highlight the increased demand and risks associated with such products.

TRON (TRX) Hits New High with Double-Top Pattern, Bearish Signals Emerge

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  • TRON’s double-top pattern and high selling volume suggest a potential reversal as it trades near all-time highs.
  • Spike in bearish volume on August 21 indicates mounting selling pressure, hinting at a possible price pullback.
  • Lack of strong buying volume dampens bullish momentum, signaling caution for near-term Tron (TRX) traders.

TRON (TRX) made a new price high and has formed a technical formation known as a double-top. This pattern familiar in technical analysis is usually used to predict a trend reversal when an asset reaches its top. The double-top has drawn the focus of the traders since Tron is currently trading near the all-time high level.

In the recent X post, Alan Santana revealed that on August 21, TRON had a significant spike in the selling volume, which is one of the most important signs of market pressure. Such an increase in trading volume with the prevailing bearish pressure suggests that TRX may be on its way to a retracement. 

Lack of Buyer Interest in Tron

Normally, a high price volume bearish indicates that the upward momentum may be losing steam and therefore a downward trend may be in the offing. While its timing is still unknown, experts believe this decline might be experienced in the coming weeks or months, and current trends appear to be trending downwards.

Compounding this fear is the absence of strong buying volume, which usually is a sign of buyer’s comfort and price rise. In a bullish market, a spike in green (buying) volume is usually seen before a long lasting increase which is not something that is reflected in TRX’s trading activity at the moment. 

Cautious Tron Market Outlook

The lack of significant buying interest add to this cautionary note and indicates that near term upside may be moderate. At the time of writing, TRX is trading at  $0.1641, which is a 2.02% drop in the last 24 hours.

Some of the traders have also chosen the short position given the recent situations around TRX and the current price movements. The experts warn that such trades, especially those with leverage, are extremely risky and should be approached only by professionals. As with most things, leveraging could magnify losses, so this type of trading is not suitable for beginners.

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Source: Chart by Alan Santana

In the last couple of days, TRX’s price action and technical chart have suggested that the market is at the moment cautious. Given the current formation of the double-top and high selling volume to reverse the trend, those who are in the TRX trading should be cautious and watch for a change in trends. While waiting for further improvements in the situation the following factors suggest a pull back.

Bored Ape Yacht Club creators are in funding talks with Andreessen Horowitz: Report

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Bored Ape Yacht Club creators Yuga labs reportedly have funding talks with Andreessen Horowitz. Andreessen Horowitz (a16z) is a venture capital company in Silicon Valley, California that backs visionary entrepreneurs shaping the future via technology.

Financial Times sources said that Yuga Labs is in negotiations about selling a multimillion-dollar interest with a16z among the corporations it is targeting, the Financial Times stated, quoting people with knowledge of the conversations. The funding would grant it a valuation as high as $5 billion.

Bored Ape Yacht Club NFT madness

BAYC is a collection of 10,000 Bored Ape NFTs, which are one-of-a-kind digital collectibles that exist on the Ethereum blockchain. Your Bored Ape also doubles as your Yacht Club membership card, allowing you to take advantage of unique member advantages.

Each Bored Ape is one-of-a-kind and unique, with over 170 features to pick from, including attitude, cap, outfit, and more. Although all apes are excellent, some are rarer than others.

Since its introduction in April 2021, BAYC has witnessed remarkable growth and development, especially among celebrities. Celebs like Kevin Hart, Justin Bieber, Jimmy Fallon, Post Malone, Snoop Dogg, Von Miller, Lil baby, The Chainsmokers, Steph Curry, Adam Draper, Mark Cuban, Shaquille O’Neal, and so on possess BAYC NFTs.

Andreessen Horowitz eyes crypto

The Financial Times notified that Andreessen Horowitz (a16z), who has invested substantially in the crypto business, is trying to raise $4.5 billion for new funds. The FT stated that the company informed investors it is aiming for $3.5 billion for a crypto startup fund, citing sources briefed on the conversations. That will eclipse the $2.2 billion it raised in June for its Crypto Fund III, at the time the industry’s most significant.

It has targeted another $1 billion for a fund that would invest in initial capital for digital asset enterprises, according to the FT. The new crypto fund would be the industry’s largest, exceeding Paradigm’s $2.5 billion raised in November.

With the growing madness of NFTs and metaverse, big companies are pooling their funds into crypto startups. Even though mixed feelings revolve around NFTs and their usability, people keep buying NFTs and make millions flipping them.