Ondo Finance eyes acquisition deal valued between $250M and $500M

28 Major Banks Complete Live Blockchain Cross-Border Payment Test in BIS Pilot

Twenty-eight global banks, including JPMorgan, Citi, and UBS, participated in a live pilot program testing blockchain-based cross-border payment settlement. The experiment, coordinated by the Bank for International Settlements, involved the movement of real money across borders using tokenized funds. The $1 million pilot marks a significant step toward validating distributed ledger technology for international banking transactions. The test aimed to assess whether tokenized money could streamline and modernize the traditionally slow and complex cross-border payments infrastructure.

Crypto for Advisors: Is the Clarity Act dead?

CME CEO Flags Tax Uncertainty Hanging Over U.S. Perpetual Futures Contracts

CME Group CEO Terry Duffy has raised concerns about a potential tax risk tied to perpetual futures contracts in the United States. At the heart of the issue is an ongoing legal dispute over whether perpetual futures should be classified as swaps or traditional futures. The classification question is significant because it could determine how the IRS taxes these instruments. Independent legal experts confirm that the matter remains unresolved, leaving market participants in a state of regulatory uncertainty.

Aave Proposal Eyes Shutdown of 6 Low-Revenue Chains Amid Steep Deposit Declines

A new governance proposal on Aave seeks to shut down protocol deployments across six blockchain networks: Sonic, Scroll, zkSync, Metis, Soneium, and Aptos. The proposal also includes retiring 50 asset markets on other chains. The move is driven by poor financial performance, with deposits on some of these networks having fallen by more than 90%. The affected chains generate minimal revenue for the protocol, making their continued operation economically unviable. If passed, the proposal would mark a significant consolidation of Aave's multi-chain presence.