alpha un# weekly roundup

The crypto market remained volatile this week, yet major players like BlackRock increased their stake in Strategy to 5%. Meanwhile, U.S. President Donald Trump signed an executive order to establish a U.S. sovereign wealth fund aimed at enhancing financial stability and national security.

In a significant move, Hong Kong has officially approved cryptocurrencies like Bitcoin and Ethereum as proof of assets for investment immigration, marking a progressive step for the region.

In India, RBI Governor Sanjay Malhotra revealed that the upcoming crypto discussion paper, developed under the Finance Ministry’s oversight, will provide clarity on the country’s stance regarding virtual assets. On the regulatory front, Japan is tightening its grip on crypto regulations, ordering Apple and Google to remove unregistered crypto exchange apps.

DeFi highlights:

DeFi faced challenges this week, with the Total Value Locked (TVL) across DeFi protocols dropping by approximately $15 billion in a single day, bringing the total TVL to around $127.3 billion. This decline was primarily driven by market turmoil and significant sell-offs.

Borrowers on top DeFi lending protocols, such as Aave, experienced substantial liquidations. Over 700 users collectively lost $198 million—marking the largest single-day loss in over five months.

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