Happy Friday! Binance Bytes is an initiative by the Research team to provide a quick round-up of the week.
Highlights 🧵:
1/ BlackRock, the Wall Street giant managing the largest spot Bitcoin ETF, has released a whitepaper emphasizing Bitcoin's role as a "unique diversifier" against fiscal, monetary, and geopolitical risks. The paper notes that Bitcoin, minimally impacted by macro factors, has outperformed all major asset classes in seven of the last ten years. Despite its volatility and classification as a "risky" asset, Bitcoin's price movements reflect its evolving potential as a global monetary alternative. BlackRock also suggests that Bitcoin can serve as a "flight to safety" during geopolitical tensions and provide protection against a weakening U.S. dollar.
2/ Phantom Wallet has launched a new feature allowing users to create custom usernames, facilitating easier identity creation, account syncing, and crypto transfers. This update includes synchronized settings across devices, a built-in address book, and is fully opt-in and private. Additionally, Phantom has integrated with Mayan Finance, enabling users to bridge from Ethereum to over 30 Solana tokens, including SOL, BONK, JUP, JITO, and WEN.
3/ Judge Reed O’Connor of the U.S. District Court for the Northern District of Texas dismissed Consensys' lawsuit against the SEC, siding with the agency on all counts. The case, which began in April, involved Consensys challenging the SEC's categorization of Ether as a security and its scrutiny of MetaMask. Despite the SEC closing its investigation into Ethereum in June, the judge ruled that the SEC's actions regarding MetaMask were not final and dismissed the claims on ripeness grounds. Consensys has vowed to continue fighting for blockchain developers' rights in its ongoing case with the SEC in New York.
Check out our latest publications from this week 🔎: Navigating Crypto: Industry Map
