May 2024 Recap of Digital Assets Industry

The digital assets industry saw a big win in May as the U.S. House passed the Financial Innovation and Technology for the 21st Century Act (FIT21) bill. The bill should provide a clearer regulatory framework for digital assets, with the Commodity Futures Trading Commission (CFTC) taking a leading role.   

Venture capital poured $2.4B into the crypto industry across 603 deals in the first quarter of 2024, a good sign of industry growth.  

Volume on decentralized exchanges (DEXs) have been soaring, with total trading volume for May over $97 billion. Uniswap is still leading the pack, but we're seeing some interesting growth from other players like Velodrome Finance and Aerodrome Finance.  

More news…

- The SEC gives permission for spot Ethereum (ETH) exchange-traded funds (ETFs).

- Coinbase adds retail-sized gold and oil futures to its derivatives platform.

- Donald Trump announced that his campaign will accept cryptocurrency donations