Ethena and Securitize are about to launch the stablecoin USDtb, competing in Spark's $1 billion tokenization race
According to The Block, Ethena and Securitize are about to launch a stablecoin USDtb, competing for Spark's $1 billion tokenization competition. Over 90% of the initial reserves of USDtb will be supported by BlackRock's BUIDL fund, which is tokenized by Securitize.
The Spark competition is known as the Tokenization Grand Prix, distributing up to $1 billion in liquidity to selected partners. Spark is a lending platform within the Sky ecosystem, renamed from MakerDAO (its core stablecoin DAI was renamed USDS). The results of the competition will be confirmed by Sky token holders in governance voting. Ethena stated that it contributes approximately $120 million in revenue annually to the Sky ecosystem, accounting for nearly 30% of total revenue.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin News Update: Major Crypto Money Laundering Case Highlights Worldwide Battle Against Digital Financial Crimes
- Qian Zhimin, 47, was sentenced to 11 years for orchestrating a $5.6B crypto Ponzi scheme affecting 128,000 Chinese victims. - UK authorities seized 61,000 BTC ($6B) during the case, the largest cryptocurrency seizure in UK history. - Qian fled China in 2017, lived lavishly in the UK for seven years using forged documents before her 2021 arrest. - The case highlights cross-border crypto crime challenges, with global authorities recovering assets linked to Chinese cyberattacks. - Prosecutors face hurdles i
Shutdown-Related Data Shortfalls Lead Fed to Delay Reducing Rates
- U.S. government shutdown ended Nov 12, 2025, but left critical economic data gaps for Fed's December rate decision. - 1.4 million furloughed workers and $11B lost output highlight shutdown's severe economic impact despite mixed private-sector data. - Fed faces delayed/missing jobs reports and CPI data, increasing likelihood of rate cut pause as policymakers emphasize data caution. - Market expectations shifted from 95.5% to 53.6% chance of December cut, reflecting demand for evidence-based monetary polic
AAVE experiences a 14.6% decline over 7 days as large investors make moves and short positions are rebalanced
- AAVE fell 14.6% in 7 days amid whale activity, including a $561M ETH withdrawal from Aave to Binance. - BitMEX co-founder Arthur Hayes sold $4.96M in crypto assets, including 1,630 AAVE tokens, reflecting broader portfolio adjustments. - Whale short positions and leveraged trades highlight risks in DeFi markets, with $125M paper losses and $7M floating profits exposing high-stakes strategies.
Bitcoin News Today: Chinese Pensioners Defrauded in £4.6 Billion Cryptocurrency Pyramid Scheme, Mastermind Receives 11-Year Sentence in Historic UK Trial
- UK sentences Qian Zhimin to 11 years for £4.6B crypto Ponzi scheme defrauding 128,000 investors. - Case marks largest UK crypto seizure (61,000 BTC, $5-6B) in history, involving global cross-border investigation. - Victims, mostly Chinese retirees, lost life savings via patriotic-themed scams exploiting false political endorsements. - Sentencing highlights cross-border crypto crime challenges despite international cooperation between UK and Chinese authorities.
Trending news
MoreCrypto prices
More
