This week’s news highlight significant advancements and shifts in the cryptocurrency and blockchain sectors, underlining their growing influence across various industries. First, we saw Donald Trump’s win, signaling a crypto-friendly future for the US. His plan for how people should use Bitcoin can potentially redefine the future of the related market and the regulation of the asset class.
Furthermore, the second iteration of Project DAMA was officially introduced in the Singapore FinTech Festival where the bank demonstrated new capabilities of tokenized assets and multichain connectivity. Binance also drew public attention by donating $3 million to rebuild the areas of Valencia that were flooded. At the same time, TON Accelerator launched the $5 million program for cross-chain initiatives, and Crypto.com extended its offer with Level Up, including banking, credit, and equities. These developments point to the fact that crypto currency is gradually integrating itself into the global financial system and conventional financial systems.
Trump Advocates Pro-BTC Policies, Signals Crypto-Friendly US Future
After winning in the 2024 US election, Donald Trump has not only returned to the White House but also turned into an active promoter of Bitcoin and cryptocurrencies. During his tenure, the price of Bitcoin rose above $75,000 because investors have high expectations.
It also may be surmised that Trump’s proposed policy agenda is also pro-BTC as it suggests enhancing the friendly regulatory environment for new assets. His vision includes preserving the current $15 billion of the USA crypto investment, more than 203,650 bitcoins, and further BTC adoption as a reserve currency. This move sits well with global trends of integrating Bitcoin into the national fiscal policies.
Deutsche Bank Launches Project DAMA 2 at Singapore FinTech Festival
The second version of Project DAMA was launched by Deutsche Bank and partners at the 2024 Singapore FinTech Festival. This was under Singapore’s Project Guardian and involved tokenized assets and multichain interoperability in asset servicing. Memento Blockchain’s ZKchain, connected to Axelar, was identified as the main blockchain. It is built on zero-knowledge technology to increase its security and capability to expand.
Several factors helped to make the project a success. A Provenance-engineered, soulbound token-based digital identity system made KYC, AML, and sanctions compliance possible. Traditional payments for gas fees were processed through Paymaster functionality. The blockchain explorer preserved the users’ anonymity while satisfying the legal on-chain demands, therefore providing a safe space.
Binance Pledges $3M to Support Valencia Flood Victims’ Reconstruction
Binance also announced that it will donate $3 million to the Spanish Red Cross following the Valencia floods. It was announced on the official X Binance account. The funds were supposed to facilitate the coordination of resources to the victims of the calamity with the main emphasis on relief and reconstruction.
Javier García de la Torre is General Manager of Binance Spain. He expressed the company’s solidarity with flood victims. He stressed that Binance aims to use its resources for good, not just profit. This donation reinforced Binance’s commitment to global humanitarian causes and its role in supporting communities during crises.
TON Accelerator Launches $5M Synergy Program to Boost Cross-Chain Projects
TON Accelerator has started the $5 million Synergy program to increase interconnected projects between TON blockchain and Mantle, the EVM partner network. The program was designed to offer developers the tools to bridge the large user base of TON with the versatility of EVM networks. Synergy was backed by TON Ventures and Mantle’s EcoFund, the latter of which aims at financing projects that would make communication between different blockchains more efficient.
The initiative also aimed to utilize the availability of Telegram users in conjunction with the Mantle’s rich and diverse DeFi and CeDeFi offerings. Purchasers received product design, integration support, and marketing tools, allowing them to design new cross-chain applications, including DeFi, gaming, and staking.
Crypto.com Launches “Level Up” Program with New Banking and Credit Services
Crypto.com introduced its “Level Up” system for clients, new banking, credit, and equities services through partners, financial institutions. The program is designed to cover various activities within Crypto.com’s growing financial offering including crypto, shares, and others.
The company launched a global personal banking product that connected with the most-used banks enabling users to operate accounts in the Crypto.com app. These accounts provide high interest earning, no surprise charges and immediate transfers. Moreover, Crypto.com ventured into equities and stock trading in collaboration with Watchdog Capital LLC, commission-free. The card system has been introduced with the option of rewards such as up to 8% of the amount spent on the card and special privileges for the first, second and third tiers of membership.
Conclusion
In sum, the events of the current week demonstrate that cryptocurrency and blockchain are becoming increasingly intertwined with traditional finance and global endeavors. They all point out to the fact that digital assets are gradually becoming integrated into the society in various aspects ranging from politics to social responsibility and from finance to banking and equities. As the process of innovation goes on, it is also obvious that crypto has a great potential in changing the financial systems and interactions on the planet.
