ChainCatcher news, TradFi executives stated that BTC and ETH derivatives will play a key role in the integration of cryptocurrencies into traditional finance (TradFi) and in driving them to reach historical highs. TradingView General Manager Pierce Crosby pointed out that derivatives have always been an important part of cryptocurrency trading, but high fees and slippage have adversely affected traders.CME Group's Global Head of Cryptocurrency Products Giovanni Vicisoso believes that a spot Bitcoin ETF will attract investors who are reluctant to use centralized exchanges and will aid in Bitcoin price discovery. TJM Institutional Services Managing Director Jim Iuorio stated that the Federal Reserve may have to lower interest rates and implement easing policies, which would be beneficial for stocks and Bitcoin.Crosby also mentioned that large institutional investors are changing the narrative that cryptocurrencies are merely an extension of tech stocks; although the market can sometimes be affected by internal black swan events, the crypto market will ultimately recover.

ChainCatcher message, Ethena releases its 2024 roadmap, Ethena will drive the integration of DeFi, CeFi, and TradFi with USDe.In the report, Ethena pointed out that while USDe has already had a significant impact on major applications of DeFi, the second-order effects of Ethena's internal liquidity and its potential impact on existing and new exchange venues have yet to be seen. Therefore, Ethena will become a liquidity aggregation layer to support higher liquidity for its DEX and CEX.In addition, Ethena will also incubate new decentralized exchanges on Ethereum.

ChainCatcher news, former Grayscale executive Celisa Morin stated that traditional financial institutions are increasingly interested in tokenizing assets on public blockchains.She pointed out that more companies may now choose public chains over private ones, as BlackRock's $100 million tokenization fund has found success on the Ethereum network. Despite the controversy, many companies may follow BlackRock's lead.Morin also noted that Franklin Templeton has launched its tokenized money market fund on Polygon.

ChainCatcher news, according to The Block, U.S. Senator Elizabeth Warren stated that she is willing to work with the cryptocurrency industry but reiterated that the cryptocurrency industry must adhere to the same rules as traditional finance. Senator Warren is a member of the Senate Finance Committee and the Committee on Banking, Housing, and Urban Affairs. She has been critical of cryptocurrencies and has recently pushed for her anti-money laundering bill.In an interview with Bloomberg Television, Elizabeth Warren said, "I want to work with the industry. What I don't understand is why this industry seems to say that only by leaving enough space for drug dealers and human traffickers can they survive, oh, and also terrorists, ransomware scammers, consumer fraudsters, and rogue nations. About half of North Korea's nuclear missile program is funded by cryptocurrency, and all of this must remain open."Additionally, Warren reiterated her stance that it must follow the same rules as traditional finance. She said, "Remember, in our financial system, almost everyone follows the same set of rules. I'm talking about banks, credit unions, credit card companies, gold traders, and stock brokers. Private equity funds now also have to follow the rules. Precious metals traders, Venmo, Western Union, but not including cryptocurrency."

ChainCatcher news, according to Coindesk, Pantera Capital partner Paul Veradettakit released 6 major predictions for the crypto space in 2024, including:· The revival of Bitcoin and "DeFi Summer 2.0": In 2024, users will see a surge in Bitcoin L2 and other scalable layers to support smart contracts, and the Bitcoin ecosystem may integrate with some Turing-complete smart contract language. As the Bitcoin DeFi infrastructure matures, users may see the total locked value (TVL) of Bitcoin DeFi rise from the current $300 million (< 0.05% of market cap) to 1-2% of Bitcoin's market cap (currently about $10-15 billion). Bitcoin network NFTs will also become increasingly popular.· More tokenized social experiences: Tokenization plays a key role in reshaping social experiences. Fungible tokens are more likely to be novel forms of points and loyalty systems, while non-fungible tokens (NFTs) are more likely to serve as profiles and social resources. Both can be traded on-chain and participate in the DeFi ecosystem.· Increase in TradFi-DeFi "bridges" such as stablecoins and mirrored assets: Institutional adoption is expected to increase significantly, seeking tokenized real-world assets (RWA) and TradFi financial products in addition to ETFs. TradFi assets will be "mirrored" in DeFi, while crypto assets will increase their exposure in the TradFi market, creating TradFi-DeFi "bridges" that connect these two worlds more closely, thereby increasing investor liquidity and diversification.· Integration of modular narratives and ZK narratives: Zero-knowledge proofs will become the interface between different components of the modular blockchain stack. This provides developers building DApps with greater flexibility and lowers the entry barrier for the blockchain stack.· More compute-intensive applications on-chain, such as AI and DePIN: Compute-intensive applications will become more economically viable on-chain in the near future.This includes vertical applications such as on-chain AI systems, decentralized physical infrastructure networks (DePIN), on-chain knowledge graphs, and fully on-chain games and social networks. All of these could fundamentally reshape the on-chain data economy, greatly improving the experience for users and developers as they free themselves from heavy gas fees and strict limitations on computing power.· Integration of public chains and the "central radiation" model of application chains: The surge of L1 and L2 in recent years has not made much difference to users, and smaller ecosystems must focus their efforts on specific verticals (such as social, gaming, DeFi) to maintain an advantage, effectively becoming "application chains" or "track chains."

ChainCatcher news, asset management company abrdn has partnered with cryptocurrency exchange Archax to focus on tokenizing traditional financial (TradFi) assets, aiming to gain a leading position in this emerging field. They plan to develop a regulatory environment for the tokenization and trading of various assets. This initiative marks the convergence of traditional finance and blockchain technology, which could fundamentally change the way assets are handled and traded.Early next year, Archax will launch trading pairs for the abrdn money market fund (MMF) token and Bitcoin (BTC). In other words, users will be able to exchange Bitcoin for USD MMF tokens instead of converting BTC to USD or USDC. The obvious next step (though the company has not publicly discussed this so far) is to use MMF ownership tokens as collateral.

ChainCatcher news, the decentralized insurance protocol UnoRe has announced its 2023 roadmap, with major directions including institutional onboarding, full-chain insurance, bringing in TradFi capital, introducing on-chain RWA products, Uno V3, and more. The team plans to complete this roadmap in three phases.It is reported that Uno Re is building a fully secure decentralized insurance ecosystem to serve institutional and individual clients. (source link)

ChainCatcher news, according to sources cited by Blockworks, TradFi hedge fund operator Hunting Hill Global Capital is doubling down on cryptocurrency trading and is hiring some key personnel: at least two former executives from Genesis, plus at least one executive from Galaxy Digital.Sources say that Hunting Hill has hired former Genesis General Manager Martin Garcia as the Chief Investment Officer of its crypto subsidiary, Hunting Hill Digital. It is reported that Hunting Hill has been engaged in crypto business since February 2020 by launching the Hunting Hill Crypto Opportunities Fund. (source link)

ChainCatcher message, Binance co-founder & Binance Labs head He Yi stated on Twitter that nobles with a TradFi background often believe that using customer funds is normal, but crypto is not a bank.Simply viewing cryptocurrency as currency or stocks can lead to risk management issues—similar to putting your seed phrase in a vault and hoping that guarantees safety.The (sad) reality is that most of the rapidly rising and falling teams come from the TradFi world, belonging to a small group that may communicate best with regulators.The downfall of these individuals creates an extremely unfair bias against the nascent cryptocurrency industry. (Even sadder) It is only at the moment they fall that they truly understand why they fell, just hoping "the bull market is here, I won't die." (source link)