The Weekly Bull-etin: No. 16

Welcome to Mu Digital's Weekly Bull-etin! We are bringing you the latest news and insights into real world assets ("RWA"), tokenization, stablecoins and yield products in the Web3 and Decentralized Finance ("DeFi") industry. Follow us to keep updated!

Mu-sings from the Editor

Gm,

Europe continues to launch tokenization pilots, with the European Investment Bank (EIB) spearheading the issuance of tokenized bonds. The U.K. is following suit, exploring the potential of tokenized Gilts.

The U.S., however, presents a more complex picture. While the Treasury Department recognizes the potential benefits of tokenizing government debt, concrete steps have yet to materialize. Some, like former Senator Pat Toomey, have expressed skepticism about the Federal Reserve's stance on cryptocurrencies. All eyes are on the appointments of President elect Trump’s administration. Pro-Crypto Hedge Fund Titan Scott Bessent is currently in the spotlight and could significantly shape the future of digital asset regulation in the U.S.

Amidst regulatory changes, the crypto industry continues to thrive. Binance has introduced BFUSD, a 19.55% APY reward-bearing margin asset for futures trading. We will closely monitor these developments. Traditional financial institutions like BlackRock and Goldman Sachs are also embracing the future of finance, with BlackRock targeting the Middle East market and Goldman Sachs spinning off its crypto platform.

Until next time,

LA Yepez

What’s Mu?

1️⃣ Scott Bessent, Pro-Crypto Hedge Fund Titan, Donald Trump’s Top Pick for Treasury Secretary

2️⃣ Stablecoin bill faces several challenges — former Senator Pat Toomey

3️⃣ Europe Embraces Tokenized Bonds – Will Donald Trump’s Treasury Follow Suit?

4️⃣ BlackRock Targets Middle East Market with Abu Dhabi License

5️⃣ Binance is launching a new stablecoin BFUSD with 19.55% APY

6️⃣ Goldman Sachs to spin out crypto platform

Charts of the Week

Onchain Yield Alternatives

AAVE yields increased to 9.5%, while yields on US Treasuries and DAI remained stable. Delta neutral yields slightly moderated to 25%, however still provide attractive returns in the current bull market. During bull markets, onchain funding alternatives typically offer elevated yield opportunities.

DeFi TVL Trends

DeFi Total Value Locked (TVL) has increased by 9% to US$145.2 billion, marking the third consecutive week of growth and setting a new high for 2024. Real-World Asset (RWA) protocols continue to see weekly TVL growth.

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