🌐MakerDAO Wants to Onboard $1B of Real-world Assets

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Crypto markets soared over the weekend, with Bitcoin and Ether rallying 5% in the past 24 hours. BTC is trading at around $62,000, while ETH is changing hands at $3,350, with spot Ether ETFs widely expected to be approved by the SEC this week.

Meanwhile, South Korea’s ruling party has proposed to delay taxes on crypto gains by three years in response to public pressure.

In DeFi news, Usual Money’s RWA-backed stablecoin USD0 is growing steadily after the protocol launched an incentives program.

✍️ In today’s newsletter:

• MakerDAO’s renewed RWA push gets noticed by BlackRock
• South Korea proposes delaying crypto taxes until 2028
• Usual Money launches mainnet and incentives program

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📈 Markets in the last 24 hrs:

🎬WATCH

Check out our interview with Dr. Marwan Al Zarouni, the CEO of the Dubai Blockchain Center and advisor to Dubai’s government. Catch up on our interview with Chris Bradbury, the CEO of Summer.fi, to learn about the project’s new points campaign. Plus, watch our explainer diving into passive income strategies using DeFi protocols 👀

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💰BlackRock’s BUIDL to Participate in MakerDAO’s $1 Billion RWA Push

MakerDAO’s Spark Tokenization Grand Prix — a contest aimed at onboarding $1 billion of tokenized real-world assets — is due to kick off on August 12.

The initiative has caught the eye of major financial heavyweights, including BlackRock, which manages $10 trillion of assets, Superstate, and Ondo Finance.

MakerDAO’s MKR token is up nearly 30% in the past seven days, making it one of the best performers among the top 100 digital assets by market capitalization.

🇰🇷South Korea’s Ruling Party Proposes to Delay Crypto Taxes by Three Years

South Korea’s ruling political party is pushing to postpone taxes on crypto gains for an additional three years.

The People Power Party, of which President Yoon Suk-yeol is a member, vowed during the last general election in April to delay the crypto gains tax.

The nation’s Ministry of Economy and Finance must now approve the latest proposed postponement until January 1, 2028.

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💸Usual Money Releases Public Mainnet and Incentives Program

Since its public launch, USD0’s market capitalization has grown to $90 million, propelling USD0 into the top 25 largest stablecoins by market capitalization, sitting just below Aave’s GHO.

🌍 ELSEWHERE

• Bitcoin Retakes $62K as ‘Trump Trades’ Back In Vogue After Weekend Attack (CoinDesk)
• Bitcoin ETFs Herald Less Febrile Token Longer Term, Traders Say (Bloomberg)
• North Korean hackers sent stolen crypto to wallet used by Asian payment firm (Reuters)

🔥 TRENDING