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ALSO: In his latest Money Reimagined column, CoinDesk Chief Content Officer Michael Casey ties the recent political and regulatory backlash toward the crypto industry to the alleged misdeeds of disgraced FTX CEO Sam Bankman-Fried. Will the current climate drive digital-asset innovation and leadership away from the U.S.?

The goal of the proposal is to let Euler users redeem their funds as soon as possible.

Over $145 million in shorts against bitcoin prices were liquidated since early Asian morning hours on Tuesday.

The new stablecoin-like token, OMMF, will be backed by conventional money market funds and is available only to qualified purchasers and accredited investors. But retail investors can lend against the tokens via Ondo’s DeFi protocol Flux to indirectly access the yield.

The firm introduced an upgraded credit underwriting process and appointed a new head of credit. The developments came after M11 Credit suffered $36 million of loan defaults on lending protocol Maple Finance following FTX’s November collapse.

After releasing a Bitcoin NFT marketplace in March, the company is expanding its resources for creators to securely mint their inscriptions before selling to collectors.

Finance chief Paul Chan said in a blog post that despite recent volatility in crypto, now is the time to push forward Web3 technologies.

The firm started its fund as more crypto projects seek non-U.S. jurisdictions.

Local stakeholders call the move a “marketing gimmick” while others say it's the most efficient way to distribute economic stimulus.

Under a new proposal Lido would accept its $1.2 million in ARB tokens and reward them to liquidity providers in wrapped staked ether pools.