Coinbase's New Index and Ondo's Tokenized Stocks

Happy Wednesday! Analysts warn that overlooked macroeconomic factors might create renewed selling pressure, potentially lowering Bitcoin's value below $100,000 this month. In today’s newsletter, we cover Coinbase's launch of futures trading for its new Mag7 + Crypto Equity Index, which combines leading tech stocks with BlackRock's Bitcoin and Ethereum ETFs. Ondo Finance has also entered the scene by releasing over 100 tokenized U.S. stocks and ETFs on Ethereum. Additionally, the SEC and CFTC have clarified that registered U.S. exchanges, including NYSE and Nasdaq, can now list and trade specific spot crypto assets. On another front, the U.S. Federal Reserve is set to host a conference focusing on stablecoins, tokenization, and decentralized finance. Moreover, Polymarket is gearing up to launch in the U.S. following a favorable ruling from the CFTC, according to its CEO. In funding news, the story-based IP tokenization platform Aria has successfully raised $15 million at a valuation of $50 million, supported by Polychain and Neoclassic with backing from the Story Protocol Foundation. Meanwhile, billionaire investor Ray Dalio has expressed concerns that rising U.S. debt could jeopardize the dollar’s reserve status, driving more investors towards cryptocurrencies and gold. Stay updated with The Block's daily digest, highlighting key events in the digital asset ecosystem! Disclaimer: This article has been produced with OpenAI’s ChatGPT and reviewed by our editorial team. The Block is an independent media outlet providing news on the crypto industry.