By Shikha Singh
Securitize Proposes BlackRock BUIDL Fund As Collateral for Frax USD.
Securitize, the brokerage firm behind the tokenized BlackRock US Dollar Institutional Digital Liquidity Fund (BUIDL), has proposed adding BUIDL as collateral for the Frax USD stablecoin.
This proposal aims to provide yield opportunities, deeper liquidity, and reduced counterparty risk, backed by BlackRock, the world’s largest asset manager.
If approved, BUIDL, which invests in U.S. government securities, would become a reserve asset for Frax USD.
Tether Preparing To Launch an AI Platform in Q1 2025.
In Q1 2025, Tether, the leading stablecoin issuer with a $140 billion market cap for USDT, plans to launch an artificial intelligence (AI) platform. This marks a major diversification step for the company under CEO Paolo Ardoino, who has expanded Tether’s reach into sectors like energy, payments, telecommunications, and now AI.
Tether’s entry into AI comes amid the growing relevance of AI in various industries, offering potential synergies with cryptocurrencies.
Italy Fines OpenAI $15 mn Over Data Protection, Privacy Breaches.
Italy’s Data Protection Authority (IDPA) fined OpenAI $15.7 million and ordered a six-month public awareness campaign after a probe into its flagship AI model, ChatGPT.
The investigation, which began in March 2023, found that OpenAI violated data protection laws by not notifying the IDPA of a data breach and processing users’ personal data without a legal basis.
Additionally, OpenAI failed to implement age verification mechanisms, allowing minors under 13 to access the service and potentially encounter inappropriate content.
As part of its corrective measures, OpenAI is required to promote public understanding of ChatGPT’s data practices and users’ rights, including the ability to oppose data use for AI training, in compliance with the General Data Protection Regulation (GDPR). The company’s “collaborative attitude” during the investigation led to a reduced fine.
$1.1 bn Withdrawal Pushes Solana’s (SOL) TVL to Monthly Low.
Solana’s Total Value Locked (TVL) has dropped to $8.01 billion, marking a 12% decline since December 1, with over $1 billion leaving its DeFi ecosystem.
Reduced user activity and fewer daily active addresses on the network are the reasons for the decline. Notably, Jito, Solana’s leading DeFi protocol, saw a significant 28% drop in TVL, now sitting at $2.66 billion.
According to Artemis data, a 7% decrease in network activity mirrors this decline in TVL, with 5.37 million unique addresses completing transactions over the previous 21 days.
Additionally, Solana’s network revenue has dropped by 24% in the same period, compounded by a 28% fall in SOL’s price.
Dogecoin Rose After Trump Appointed Loyalist Katie Miller to The Department of Government Efficiency.
After Donald Trump appointed loyalist Katie Miller to the new Department of Government Efficiency (DOGE), which is under the direction of Elon Musk and Vivek Ramaswamy, Dogecoin surged late on Sunday.
Trump announced the appointment via Truth Social, highlighting Miller’s experience and loyalty. Miller, former press secretary for Mike Pence and DHS, expressed her excitement to work on making the government more efficient.
The DOGE department aims to reduce bureaucracy, cut waste, and restructure federal agencies. Dogecoin rose to $0.31, up 2.19% in 24 hours, in response to the news.
Animoca Founder Yat Siu Reveals Moca Network Plans; MOCA Coin Jumps 15%.
Yat Siu, founder of Animoca Brands, has announced a two-stage MOCA token giveaway as part of a Christmas celebration, rewarding early post-engagers and the broader Moca community.
This move follows the successful launch of the Moca Network, which has fueled excitement and contributed to a 15% surge in the MOCA token’s price.
The giveaway will roll out in two stages: the first for early supporters and the second inviting community-driven engagement ideas.
The announcement and a 350% increase in MOCA’s price last week following listings on major exchanges like Binance and Upbit have reignited interest in the project.
The launch of Moca 3.0, which enables users to control digital identities and monetize data across Web2 and Web3, positions MOCA as a key asset in the Web3 space. Additionally, a token unlock event on December 27 could further impact market sentiment.
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