USDe TVL Plummets -50%, MegaETH Presale Suffers Critical Technical Problem, Crypto Treasuries Reel: Where Do We Go From Here?

Thai authorities have ordered the digital identity project World, backed by Sam Altman, to cease operations in the country and delete all user identification data collected from residents, as announced by the Ministry of Digital Economy and Society.

Grayscale has filed a proposal with the US Securities and Exchange Commission to convert its Zcash Trust into the first Zcash exchange-traded fund (ETF), potentially bringing the privacy-focused cryptocurrency into mainstream financial markets. This filing follows a significant rally in Zcash's price, which has surged over 1,000% recently.

Solana's price surged to approximately $136 as traders identified early signs of a trend reversal, moving closer to a significant resistance level. This increase follows a bounce from a critical support zone, indicating potential short-term bullish momentum in the cryptocurrency market.

Macro uncertainty is resurfacing, impacting the cryptocurrency sector as traders prepare for significant U.S. economic data releases and regulatory signals from the SEC. The crypto market remains under pressure, with Bitcoin's price recently dropping toward critical levels, raising concerns about a potential crash.

MegaETH has halted its $1 billion fundraising plan due to significant technical failures encountered during the pre-deposit phase, which exceeded the intended raise limit. This decision was communicated through a series of posts on X, indicating a major setback for the company.

Klarna, the Swedish buy-now, pay-later company, has announced the launch of its own stablecoin, KlarnaUSD, marking a significant shift from its traditional lending model into the cryptocurrency payments sector. This new token operates on a blockchain developed by Stripe, aiming to enhance transaction efficiency and reduce costs for users globally.

MegaETH has abandoned its $1 billion fundraising plan due to multiple technical failures during the pre-deposit phase, which exceeded the intended raise limit and forced the team to halt the sale. This setback highlights significant operational challenges faced by the company.

Anchorage Digital Bank has launched a rewards program for holders of USDtb and USDe, aiming to enhance user engagement and incentivize the use of its platform. This initiative is part of the bank's broader strategy to expand its offerings in the cryptocurrency space.