Get the scoop on Aave's GHO, SEC-Coinbase saga, Robinhood's token outlook, Louis Vuitton's NFTs & Bitcoin-Ether growth.
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AAVE to Launch GHO Stablecoin

AAVE to Launch GHO Stablecoin

Get the scoop on Aave's GHO, SEC-Coinbase saga, Robinhood's token outlook, Louis Vuitton's NFTs & Bitcoin-Ether growth.

Last update:
Jun 8, 2023
| Issue
#
34

Hi crypto folks! Welcome yet again to a new edition of the Datawallet newsletter, your place for all crypto news and gossip. As always, we will be covering topics that cater to all investor levels, so sit comfy and enjoy the information. 

Today’s drop will cover these key daily news items:

Aave to launch GHO stablecoin

Aave Companies, the architect behind the Aave protocol, is gearing up to launch a novel decentralized stablecoin offering to Ethereum's mainnet – the GHO stablecoin. A proposal to launch GHO has seen tremendous support within Aave's governance forum, positioning it a step closer to a formal governance ballot. GHO's introduction, if approved, would enhance stablecoin borrowing competitiveness on the Aave Protocol while generating additional revenue for Aave DAO.

GHO’s launch embodies an innovative approach, introducing the concept of 'Facilitators'. Facilitators, such as the Aave V3 Ethereum Pool and the FlashMinter, can mint (and burn) GHO tokens within a certain limit. Once community-backed parameters are approved and integrated, users of Aave V3 on Ethereum will be enabled to mint GHO against their collateral, giving rise to a new epoch for the Aave ecosystem.

The introduction of GHO isn’t just a token release; it's an important shift towards increased decentralization and ecosystem empowerment. A multi-chain strategy will be proposed post-launch, making Aave more accessible across different networks. The firm is extending its hands to the community for further discussions, marking the path for a more democratized, DAO-governed stablecoin.

SEC charges Coinbase

The crypto industry braces itself as a potential game-changer case emerges - the Securities and Exchange Commission (SEC) has hurled accusations at Coinbase, the United States' largest digital asset exchange, for flouting the nation's securities laws. According to the SEC, Coinbase has been functioning as an exchange, broker, and clearinghouse without the agency's go-ahead. Just when the dust settled from the SEC's allegations against Binance, the world's biggest crypto exchange, this complaint sends ripples through the industry yet again.

Robinhood to delist SOL and other tokens

Robinhood Markets Inc. is currently reevaluating its cryptocurrency selections with renewed vigor, as the Securities and Exchange Commission has recently clamped down on two major digital asset trading platforms. The firm's legal chief, Dan Gallagher, who is also a former SEC commissioner, revealed this information to Congress on Tuesday, stating that they are diligently studying the regulator's analysis to ascertain what measures to take, if any. This topic was brought up during a meeting of the House Agriculture Committee, which was primarily centered on digital assets. Some of the tokens they plan to delist include major crypto assets like Solana and Polygon (MATIC).

Louis Vuitton selling $41,000 NFTs

The prestigious French high-end fashion label, Louis Vuitton, unveiled a limited NFT series named "Treasure Trunk," with individual items costing €39,000 ($41,693). This exclusive collection provides chosen clients with a rare chance to access upcoming products and experiences.

The introduction of the "Via" NFTs by Louis Vuitton serves as a privileged passageway to distinct products and experiences that are inaccessible to others, as per a statement issued on Tuesday.

Other breaking news

  • Introducing ApePay - a new smart contract language
  • Uniswap updated Universal Router
  • Astroport live on Neutron
  • Polygon zkEVM update
  • Mitsubishi UFJ to launch stablecoin issuance platform

Wrapping up

And that's a wrap on today's crypto headlines, folks! In this edition, we explored Aave's bold move to launch its native GHO stablecoin, the SEC's burgeoning case against Coinbase, and Robinhood's careful reconsideration of its crypto offerings in light of recent regulatory clampdowns. Moreover, we delved into the high-end fashion world's flirtation with NFTs through Louis Vuitton's exclusive "Treasure Trunk," and observed the continued volatility of Bitcoin and Ether amidst regulatory turbulence.