JPMorgan files for tokenized MMF aimed at stablecoin issuers
AI Summary
JPMorgan filed for a tokenized money market fund targeting stablecoin issuers, entering the same space as Morgan Stanley's recently launched Stablecoin Reserves Portfolio. The Senate's Clarity Act crypto market structure bill gained significant momentum with a markup vote scheduled, while Aave proposed native BTC borrowing via Babylon integration in V4. Kelp DAO burned an exploiter's rsETH and outlined a two-week recovery timeline using Aave's Recovery Guardian multisig.
Key Facts
Author Takes
Stablecoin back-office infrastructure
Two Wall Street behemoths filing for stablecoin reserve products signals that stablecoins are definitively here to stay.
Native BTC in DeFi
Native BTC borrowing without wrappers has been a 'holy grail' product for years, and Aave's Babylon integration could finally deliver it at scale.
Kelp DAO exploit recovery
A protocol-led recovery from the exploit proves DeFi can move fast when it has to.
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