Cryptocurrency Market Dynamics: LITKEY Token Economics, 3AC's Claims Against FTX, BlackRock Fund Surpasses $1 Billion

1. **Lit Protocol's LITKEY Token Economics**: Lit Protocol announced the tokenomics for LITKEY, its native token, which will be used for network services, node operator incentives, and governance. 4.8% of the total supply is allocated for ecological airdrops.

2. **3AC's Expanded Claim Against FTX**: The U.S. Bankruptcy Court approved Three Arrows Capital (3AC) to expand its claim against FTX to $1.53 billion, citing FTX's delay in providing necessary records.

3. **BlackRock's BUIDL Fund Milestone**: BlackRock's BUIDL fund surpassed $1 billion in assets under management, becoming the largest on-chain fund.

4. **U.S. Treasury's Bitcoin Reserve Discussions**: The U.S. Treasury met with crypto custodians to discuss Bitcoin reserve management, considering third-party custody options.

5. **Ethereum's Hoodi Testnet for Pectra Upgrade**: Ethereum developers will launch the Hoodi testnet for final testing of the Pectra upgrade, aiming to improve scalability and smart contract functions.

6. **World Liberty Finance's SEI Token Purchase**: World Liberty Finance increased its SEI token holdings by $100,000, bringing its total to over 1 million SEI.

7. **Solana's SIMD-0228 Proposal Rejected**: Solana's SIMD-0228 proposal failed to pass with only 61.4% support, below the required 66.67%.

8. **Coinbase's New Asset Additions**: Coinbase added DOGINME to its asset roadmap.

9. **U.S. Lawmakers Oppose Trump's Bitcoin Reserve Plan**: Democratic lawmakers urged the Treasury to halt Trump's Bitcoin reserve plan, citing conflicts of interest.

10. **Putin's Ceasefire Announcement**: Russian President Putin announced a 30-day ceasefire, with further discussions needed on monitoring and details.

11. **U.S. Stock Market Decline**: Major U.S. stock indices fell, with notable declines in tech and blockchain stocks.

12. **Vermont Drops Inquiry into Coinbase**: Vermont's financial regulator withdrew its inquiry into Coinbase's staking service, following the SEC's similar withdrawal.

13. **MoonPay's Acquisition of Iron**: MoonPay acquired stablecoin infrastructure company Iron for over $100 million, aiming to expand in the stablecoin market.

14. **BNY Mellon's Expanded Services for Circle**: BNY Mellon is expanding services for Circle, facilitating stablecoin transactions and potentially attracting more crypto deposits.

15. **Solv's Bitcoin Reserve Offering**: Solv raised $10 million for its Bitcoin Reserve Offering, aiming to build a $100 million $BTC reserve.

16. **Turkey's New Crypto Regulations**: Turkey introduced new regulations for crypto asset service providers, aligning with global standards.

17. **Cboe's ETF Physical Redemption Proposal**: Cboe proposed a rule change to the SEC for physical redemption of Invesco Galaxy Bitcoin and Ethereum ETFs.

18. **Increase in Bitcoin Holdings by Companies**: The amount of Bitcoin held by listed companies is expected to double in 2024, driven by institutional interest.

19. **Deribit's Crypto Options Expiry**: Deribit reported that $3.27 billion in crypto options will expire, with Bitcoin's maximum pain point at $86,000.