BlockByte Weekly: Argentina's President & A Scam Coin?

Hi Reader,

Thanks for reading The BlockByte Weekly, where we summarise the key updates in crypto over the last week and provide our perspective on what you need to know as an investor.
​

Executive Summary​
​

• Argentine President Accidentally Endorses A Scam
• Real-World Asset Token Mantra (OM) Bucks Market Trend with 100% Monthly Gain
• ETH ETFs May Earn Staking Yields Under NYSE Proposal to SEC
  ​

Market Update​
​​
​Argentine President Accidently Endoreses A Scam

Earlier this week, a cryptocurrency token called Libra, which was initially endorsed by Argentine President Javier Milei, suffered a catastrophic collapse after insiders executed a massive sell-off. Just three hours after the token's launch, eight wallets linked to the Libra team cashed out over $107 million worth of assets, including 57.6 million USDC and 249,671 Solana. The token's market capitalization plummeted from $4.56 billion to $257 million in just 11 hours, representing a 94% drop in value.

Real-World Asset Token Mantra (OM) Bucks Market Trend with 100% Monthly Gain

The altcoin market has experienced weakness over the past month, declining approximately 9.1% while Bitcoin has traded sideways in a range between $97,000-$100,000, posting a modest 0.4% gain. Standing out against this bearish backdrop is Mantra (OM), a token focused on real-world asset tokenization including property, art, and commodities, which has surged over 103% in the past month. The project's momentum has been further validated by a recent $1 billion partnership with Dubai property developer DAMAC, highlighting growing institutional interest in blockchain-based real-world asset tokenization.
​

ETH ETFs May Earn Staking Yields Under NYSE Proposal to SEC

The New York Stock Exchange has filed a proposal with the SEC to allow staking capabilities within Grayscale's spot Ethereum ETFs, which would enable both the Grayscale Ethereum Trust ETF (ETHE) and Ethereum Mini Trust ETF (ETH) to earn staking rewards as fund income. The filing specifies that while staking would be permitted, Grayscale would not promote or guarantee any specific returns for investors, and the activity would not constitute "delegated staking" or a "staking as a service" offering.

​

For A Confidential Discussion​
​

Feel free to reach out to me anytime to discuss how we can support you on your digital asset journey.
​
Until next week,
James

James Brannan
Chief Executive Officer
BlockByte Capital
​
(+61) 412 393 634
​james@blockbyte.com.au​
​https://blockbyte.com.au/​

BlockByte does not provide financial advice. We provide execution support, research and insured custody for investing in digital assets. Reach out to our team to discuss how we can help.

​