Sigma Capital

Mantra Finance just secured a VASP license from Dubai’s Virtual Assets Regulatory Authority (VARA). This means it can now expand its #DeFi and #RWA tokenization services across the UAE and MENA region. This matters because: 1/ Institutional investors are getting on board. The license enables Mantra to offer regulatory-compliant financial products, bridging the gap between traditional finance and DeFi. 2/ Clear regulations drive adoption. Just like #Bitcoin ETFs saw massive inflows after regulatory approval, frameworks like VARA’s give investors the confidence to participate. 3/ Tokenization is going mainstream. Mantra is already working with major companies like Damac, Libre, MAG, Novus Aviation, and Zand to bring real-world assets on-chain. With its VARA license, Mantra is making tokenization work in a regulated, scalable way. Clear rules, real adoption—this is how crypto moves forward.

Montana just rejected #Bitcoin as a state-reserved asset. Lawmakers voted 41-59 against House Bill No. 429, which proposed investing taxpayer money in Bitcoin, precious metals, and stablecoins. The main concerns? ? Some argued that Bitcoin is too volatile to be purchased with public funds. ? Others opposed giving the state’s investment board discretion over crypto assets. ? Some viewed it as pure speculation rather than a secure investment. However, the following counterarguments were brought up as well: ? Supporters claim traditional bonds lose purchasing power over time, whereas Bitcoin has outperformed most assets in the long run. ? The bill’s sponsor argued that not investing is the real risk, as digital assets continue to grow. ? Some lawmakers preferred amendments rather than an outright rejection. As of now, 24 U.S. states have introduced Bitcoin reserve bills—Utah leading the way, with its bill moving closer to becoming law. The debate isn’t over, and crypto’s role in state finances will only keep growing.

Uniswap Labs has officially entered the rollup space with #Unichain, an #Ethereum Layer 2 built on Optimism’s OP Stack. It’s optimized for #DeFi, and here’s what makes it stand out: 1/ A Stronger Decentralized Model Unichain launched at “Stage 1” decentralization, meaning it already has external validators securing the network. Most L2s, like Base and zkSync, are still stuck at “Stage 0” and remain fully controlled by their teams. 2/ New Interoperability Features The ERC-7683 standard enables smoother liquidity movement across chains. Paired with Uniswap’s integration into Optimism’s Superchain, this could make cross-chain DeFi much more efficient. 3/ Faster and Cheaper Transactions With 1-second block times and 95% lower gas fees than Ethereum, Unichain is built for speed. Trading and liquidity provision on this network could become significantly cheaper and faster. The bigger picture? This could signal the rise of app-specific rollups, where DeFi protocols launch their own L2s instead of relying on general-purpose solutions.

#Doodles, known for collaborations with Pharrell Williams and adidas, has launched its Solana-powered digital token—#DOOD. Here’s what this move means for both the Doodles community and the larger NFT ecosystem: 1/ Community-Focused Token Distribution 68% of DOOD tokens are allocated to Doodles holders, rewarding the loyal community and reinforcing the project’s decentralized structure. 2/ New Utility for Holders From rewards to governance, DOOD unlocks new ways for holders to engage with the ecosystem. 3/ Strategic Move Amid #NFT Market Slowdown With the NFT market cooling, Doodles is following the playbook of projects like Pudgy Penguins, which saw a surge in activity after introducing a native token. This move could reinvigorate the Doodles brand and its community. 4/ A Shift in the NFT Ecosystem The DOOD launch could encourage more NFT projects to integrate tokens into their ecosystems—a trend already seen with Opensea’s SEA token. Doodles clearly has big plans—but will DOOD be a game-changer?

Argentine President Javier Milei’s crypto endorsement has triggered a financial and political crisis in Argentina. He publicly supported $LIBRA, a cryptocurrency claiming to fund small businesses. His endorsement caused a surge in the token’s market cap, but within days, the price crashed. Here’s why: ? No Token Lock or Vesting: Early investors could sell immediately, draining liquidity. ? Centralized Holdings: A few wallets controlled most of the supply, enabling manipulation. ? Insider Trading: Wallets funded before Milei’s announcement made over $150 million by selling at the peak. After the collapse, Milei deleted his post and distanced himself from the project. But the damage was done. Opposition leaders are now calling for his impeachment, and his administration has launched an investigation into potential fraud. This incident is a critical lesson in: ? Leadership ? Accountability ? Financial literacy Political figures have immense influence. When that power is used carelessly, the consequences extend far beyond financial losses. For investors, this is yet another reminder that hype alone is never a substitute for due diligence.

Could U.S. #stablecoin regulations force #Tether to sell #Bitcoin? J.P. Morgan analysts estimate that only 66%-83% of Tether’s reserves meet the proposed U.S. stablecoin regulations. If these rules pass, Tether might have to sell off billions in Bitcoin to comply. What’s at stake? ? The U.S. is considering two stablecoin bills—the STABLE Act and the GENIUS Act—which would impose stricter reserve requirements. ? Tether holds 83,758 BTC (worth over $8B) as part of its reserves, alongside precious metals and corporate debt. ? If these regulations pass, Tether may need to convert these holdings into U.S. Treasuries and other liquid assets. Tether’s CEO, Paolo Ardoino, dismissed JPMorgan’s concerns, arguing that analysts ignored the company’s $20B in group equity and that compliance will be “straightforward.” But why does this matter? A forced Bitcoin sell-off could impact prices and liquidity in the crypto market. Meanwhile, momentum is growing for a Federal Reserve audit, backed by Ron Paul and Elon Musk—a move that could shake confidence in traditional finance and fuel crypto adoption. Regulatory pressure is mounting. Will Tether adjust, or will the rules themselves evolve?

Zoom has $7.7 billion sitting in its treasury—cash that’s losing value every year. Eric Semler, chairman of Semler Scientific?, believes Zoom should take a page from MicroStrategy’s playbook and convert some of that cash into #Bitcoin. His reasoning? ? Zoom’s stock is down 85% from its 2020 highs. ? The company operates in a saturated, slow-growth market. ? It has the financial firepower—$2B in free cash flow and access to cheap debt—to make a bold move. Semler isn’t just speculating. His own company adopted a Bitcoin treasury last year, accumulating 3,192 BTC ($305M). The result? Its stock more than doubled, even amid Bitcoin’s recent volatility. Zoom could do the same and instantly become one of the largest corporate Bitcoin holders. Would that change the game for its stock? Or is the risk too high?

#Stablecoins could drive trillions in demand for U.S. Treasuries, and policymakers are taking action. White House crypto and AI czar David Sacks announced that the Agriculture and Finance/Banking Committees—of both the Senate and House—are collaborating on digital asset legislation. Regulatory clarity is a priority, with efforts to address crypto de-banking and strengthen consumer protection. To that end, the GENIUS stablecoin bill has been introduced, with hopes of passing it alongside an updated digital assets bill within 100 days. The aim is to ensure stablecoins support the U.S. dollar’s global dominance while creating demand for Treasuries, potentially lowering long-term interest rates. Lawmakers are also revisiting the FIT21 bill to: → Refine how crypto assets are classified → Ensure effective oversight → Reduce regulatory bottlenecks However, education remains a challenge, as many new members of Congress are still getting up to speed on digital assets. The next 100 days could shape the future of stablecoins, regulation, and digital asset policy.

Bitcoin’s biggest mining pool is now securing a key layer-2 network. Foundry, the world's largest Bitcoin mining pool by hashrate, is now merge-mining with Rootstock. This adds 200 exahashes per second (EH/s), bringing Rootstock’s total security power to 740 EH/s. That’s about 80% of the total computing power currently securing the Bitcoin network. But why is this significant? 1/ Stronger Security: Rootstock, a Bitcoin layer-2 network, gains more protection against attacks. 2/ New Revenue for Miners: Mining pools that merge mine with Rootstock earn 79% of their transaction fees in rBTC. 3/ No Extra Energy Costs: Merge mining lets miners secure both Bitcoin and Rootstock using the same hardware. With Foundry’s backing, Rootstock now has one of the highest security levels among Bitcoin layer-2 networks.?

The music industry is evolving— Sony's blockchain platform, #Soneium, has launched its first music NFT collection, aiming to reshape how artists are compensated. In collaboration with Coop Records, they released a collection of unreleased tracks from Tokyo-based producer NUU$HI on their NFT marketplace, Sonova. Coop Records has moved over 600 songs on-chain to create fairer revenue models for artists. Since its mainnet launch in January 2025, Soneium has seen rapid growth with over 248,000 accounts and 1.8 million addresses participating in its blockchain activities in the past four weeks. If blockchain can address music monetization challenges, will more artists make the shift?