X Money, CFTC Crypto Panel, AAVE & TON's Web3 Play

Transcript

Hi, by Economy Friends. Last week, mainstream platforms and regulators took major steps to fold digital assets into everyday finance. X is rolling out smart cash tax, so you can buy Bitcoin or Tesla shares inside your timeline. Regulators in Washington assembled an innovation dream team, including Brad Garlinghouse, Ripple CEO, and Anatoly Yaakovenko Solana Lab CEO. And Telegam's Ton is designing a web-free ecosystem for a billion users. Here are the highlights from February 10th to 16th and why they matter. Before we dive in, a quick market snapshot. Bitcoin spent the week testing $70,000, digesting earlier gains, while Ethereum held close to $2 ,000. Solana oscillated in the mid-80s, and XRP consolidated near $1.45, as bowls and bears kept the tug war going. but we can already see traces of oversold markets. Overall, price action felt range-bound, with investors waiting for catalysts from macro data and product launches. Nikita Beer, X's head of product, said the platform will launch smart cash tax in the next couple of weeks that let users trade stocks and cryptocurrencies directly from their feed. The feature goes beyond the price tracking cash tax X introduced in 2022 and brings the platform closer to Elon's vision of an everything app. BRT's the idea in January and confirmed it's part of a broader rollout of financial features, including XMoney, currently in VETA. For creators, the move could turn social posts into trading gateways, lowering the line between content and execution. Across the regulatory landscape, new Commodity Futures Trading Commission, CFTC Chairman Michael S. Selling announced the 35-member Innovation Advisory Committee that reads like a who's who of the crypto industry. The panel includes leaders from Uniswap Labs, Ripple, Chainlink, Solenda Labs, CME Group, and NASDAQ. Selig said the committee will help ensure the agency's decisions, reflect market realities, and future-proof financial markets. By formally involving crypto CEOs in rulemaking, the CFTC is signaling a collaborative approach that could accelerate institutional adoption and regulatory clarity in an interview with crypto news. Tone Foundation president Max Crone explained how the Tone blockchain aims to turn Telegram's billion users into crypto participants. Unlike chains built for crypto-native experimentation, TAN prioritized, fast finality, low latency, and predictable fees from the start. The project focuses on embedded wallets inside Telegram chats, zero friction onboarding, and social NFTs that act as gifts or badges rather than speculative assets. Chrome said more than $400 million worth of ton coin has been purchased by institutions this year, and U.S. regulatory conditions are improving. With its unfair advantage of direct access to Telegram's audience, Tone could make Web3 feel like using a normal app. Latin America remained a testing ground for crypto policy. In Brazil, a report to the Chamber of Deputies recommends eliminating taxes on crypto gains and creating a sovereign strategic Bitcoin reserve that could hold up to 5% of the country's pouring exchange reserves. The proposal would also allow payment of federal taxes and Bitcoin and repeal certain reporting requirements. On the other side of the globe, Hong Kong Securities and Futures Commission expanded its virtual asset rules to allow licensed brokers to provide margin financing and perpetual futures products. Under the regulator's Aspire roadmap, eligible clients can borrow against Bitcoin or Ethereum and licensed trading platforms may soon offer crypto perpetual contracts to professional investors. At the Consensus Hong Kong Conference, SFC executive, Eric Giff, said the city's crypto landscape has entered a defining stage, emphasizing the need to cultivate liquidity while maintaining strong governance. Hong Kong sees these measures as a way to attract institutional capital and cement its role as a global digital asset hub, and on February 13th, Gray Scale submitted paperwork to convert its AVE Trust into an exchange-traded fund. Directly competing with Bitwise for the first US defy token ETF. AVE, the token power in the leading defy lending protocol, trades around $119 and has a market cap near $1.8 billion. Similar AVE products already trade in Europe and Gray Scales legal victory over the SEC, in its Bitcoin case, paved the way for this filing. If approved, listing on the New York Stock Exchange ARCA would further normalize DIPI tokens within traditional markets. Additionally, in related Defi news, AVEA Labs unveiled the proposal dubbed AVEWW will win to direct 100% of revenue from AVE branded product to the AVE Dow. The proposal also asks the doubt to ratify ADV4 as the core technical foundation and to allocate $25 million for ongoing development and trademark protection. Founders Tani Kulichov said the token-centric model formalizes Avelaps' role as a contributor while positioning the protocol to capture growth as institutions enter defy. Social media trading, regulatory committees, Latin America pilots, and Hong Kong rulemaking last week showcased the broadness of crypto's integration into finance and policy. The next phase won't just be about price moves. It will be about platforms, governments, and communities designing systems that billions of people can use. Thank you for watching. I will see you next week.

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