Hero's Image

World’s first bank-issued USD stablecoin unveiled, crypto prices remain flat, and US senator wants an ‘anti-crypto Army’

The Hash Insider

Crypto prices held steady for the third consecutive week with the Nasdaq Crypto IndexTM (NCITM) up a modest 0.4%. Ether (ETH) rose 3.0%, outperforming Bitcoin (BTC), which suffered a slight decline of -0.6%. BTC has hovered around $28,000 with limited volatility since late March, but events this week—including the release of US CPI data and the activation of Ethereum’s Shapella (Shanghai + Capella) upgrade—could lead to increased volatility.


Brazilian investment bank BTG Pactual unveils dollar-backed stablecoin


The stablecoin, BTG Dol, is the first issued by a bank. Brazil is one of the most crypto-friendly countries in terms of adoption and regulation. Given that BTG is one of the largest banks in Latin America, this is an important development for broader crypto adoption. 


DeFi exchange Uniswap beats Coinbase in trading volume in March 


The performance of Uniswap relative to Coinbase, a Nasdaq-listed public company and the second-largest centralized exchange with over 4,000 employees, illustrates the increasing adoption of DeFi in the wake of the 2022 bear market and this year’s banking crisis. 


Dogecoin (DOGE) jumps after Elon Musk replaces Twitter bird logo 


Musk temporarily replaced the bird with the meme coin’s logo, a Shiba Inu dog. The event, which seemed at first to be a late April Fools’ Day prank, is noteworthy as it involves a top 10 crypto asset and one of the largest social media platforms in the world. After the Dogecoin logo was removed, DOGE's gains were mostly reversed.


Sen. Warren’s ‘Anti-Crypto Army’ campaign aims to politicize crypto


The politicization of cryptocurrencies is increasing in the US, as Senator Elizabeth Warren takes an anti-crypto stance in her re-election campaign, calling for increased regulation. US policy on crypto has lagged many other governments, which may ultimately drive industry participants away from the US.


From Hashdex:


Hashdex has announced staking on its products along with a website and a primer to cover the topic. The Staking Program provides the opportunity to reduce or eliminate fund costs for investors through staking, which contributes to the development and security of blockchain networks. This program is built around the same innovative principles that have guided our firm since inception and maintains the highest standards of compliance, security, and risk controls.


What to watch this week:


Wednesday will be a big day for crypto as the US CPI data is released and the Shapella upgrade on Ethereum will be activated.




This material expresses Hashdex Asset Management Ltd. and its subsidiaries and affiliates (“Hashdex”)'s opinion for informational purposes only and does not consider the investment objectives, financial situation or individual needs of one or a particular group of investors. We recommend consulting specialized professionals for investment decisions. Investors are advised to carefully read the prospectus or regulations before investing their funds. The information and conclusions contained in this material may be changed at any time, without prior notice. Nothing contained herein constitutes an offer, solicitation or recommendation regarding any investment management product or service. This information is not directed at or intended for distribution to or use by any person or entity located in any jurisdiction where such distribution, publication, availability or use would be contrary to applicable law or regulation or which would subject Hashdex to any registration or licensing requirements within such jurisdiction. No part of this material may be (i) copied, photocopied or duplicated in any form by any means or (ii) redistributed without the prior written consent of Hashdex. By receiving or reviewing this material, you agree that this material is confidential intellectual property of Hashdex and that you will not directly or indirectly copy, modify, recast, publish or redistribute this material and the information therein, in whole or in part, or otherwise make any commercial use of this material without Hashdex’s prior written consent. 

Investment in any investment vehicle and cryptoassets is highly speculative and is not intended as a complete investment program. It is designed only for sophisticated persons who can bear the economic risk of the loss of their entire investment and who have limited need for liquidity in their investment. There can be no assurance that the investment vehicles will achieve its investment objective or return any capital. No guarantee or representation is made that Hashdex’s investment strategy, including, without limitation, its business and investment objectives, diversification strategies or risk monitoring goals, will be successful, and investment results may vary substantially over time. Nothing herein is intended to imply that the Hashdex s investment methodology or that investing any of the protocols or tokens listed in the Information may be considered “conservative,” “safe,” “risk free,” or “risk averse.”

Certain information contained herein (including financial information) has been obtained from published and non-published sources. Such information has not been independently verified by Hashdex, and Hashdex does not assume responsibility for the accuracy of such information. Hashdex does not provide tax, accounting or legal advice. Certain information contained herein constitutes forward-looking statements, which can be identified by the use of terms such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue”  “believe” (or the negatives thereof) or other variations thereof. Due to various risks and uncertainties, including those discussed above, actual events or results, the ultimate business or activities of Hashdex and its investment vehicles or the actual performance of Hashdex, its investment vehicles, or digital tokens may differ materially from those reflected or contemplated in such forward-looking statements. As a result, investors should not rely on such forward- looking statements in making their investment decisions. None of the information contained herein has been filed with the U.S. Securities and Exchange Commission or any other governmental or self-regulatory authority. No governmental authority has opined on the merits of Hashdex’s investment vehicles or the adequacy of the information contained herein


Logo Hashdex
The material contained on this website is for informational purposes only and Hashdex, and its affiliates, is not soliciting any action based upon such material. The material is not to be construed as investment advice nor is it to be construed as recommendation, offer or solicitation to buy or sell any financial instrument or product or to adopt any investment strategy. Further, the material contained on this website does not constitute a representation that the financial instruments described therein are suitable or appropriate for any person. Past performance is not an indication of any future performance. This website may contain advertising of financial products.