What happened in crypto this week
Wow, what a week’s it’s been in crypto: Tether’s CEO says they’re not launching a blockchain, the State of Michigan holds over $10 million in spot Ethereum ETFs, the launch of the Global Dollar stablecoin, Bitcoin reaches a new all-time high of over $77,000, and BlackRock’s IBIT sets record daily inflows of $1.12 billion. Let’s take a closer look at these and give you a recap on what happened this week in crypto. Tether isn’t launching a blockchain Paolo Ardoino, CEO of Tether, said that they’re not launching a Tether chain at the moment because “neutrality is very important to them.” Posting on X, Ardoino said that “different independent L2 solutions are working to support $USDt for gas fees.” Rather than trying to centralize everything, he mentioned that Tether is interested in teaming up with companies and communities. His announcement comes as Tether experienced a record-breaking miles...