Today in crypto, the European Union is reportedly exploring Ethereum and Solana for its digital euro central bank digital currency (CBDC), data has revealed that the top 13 most profitable YZY wallets made off with almost $25 million tradin…
Today in crypto, the European Union is reportedly exploring Ethereum and Solana for its digital euro central bank digital currency (CBDC), data has revealed that the top 13 most profitable YZY wallets made off with almost $25 million trading the Kanye West-linked token, and State Street became the first custodian to join JPMorgan’s tokenized debt platform, allowing the asset manager to hold blockchain-based securities.
EU exploring Ethereum, Solana for digital euro launch: FT
The European Union is reportedly exploring major public blockchain networks including Ethereum and Solana in connection with its digital euro design.
The European Central Bank (ECB) is considering running a digital euro on a public blockchain like Ethereum rather than a private one, the Financial Times reported on Friday, citing people familiar with the matter.
Unlike a private blockchain, where data is limited to authorized entities, public blockchains like Ethereum or Solana are open to everyone.
If confirmed, the EU’s exploration of public blockchains would represent a significant milestone in the digital euro’s development, given that the ECB has not yet finalized the technology framework for the project.
The use of a public blockchain is “definitely something that [EU officials are] taking more seriously now,” one of the people involved in the digital euro discussions told the FT.
Another person said a digital euro in a private form would look “much more like what the Chinese central bank is doing than what private companies in the US are doing.”
The person specifically referred to China’s central bank digital currency (CBDC), deployed privately, as opposed to public-run stablecoins developed by companies like Circle.
13 wallets made over $1 million profit each dumping the YZY token
A total of 13 wallets made more than a million dollars each trading Kanye West-linked YZY, according to new data from Nansen.
The YZY token was launched on Solana on Thursday by the rapper, with the top 13 wallets profiting a total of $24.5 million as they dumped the token.
The YZY token spiked 1,400% within an hour of its launch, hitting a peak price of $3 before dumping again, according to Nansen. In less than 24 hours since the spike, the token has dumped 74% to around $0.77. The launch was controversial, with many observers pointing to alleged insider sales and snipers.
A Dune Analytics query indicated that more than 56,000 wallets interacted with the memecoin, while Nansen reports that there were still over 27,000 wallets holding more than $1 worth. Data also shows that out of the first 99 addresses to buy the token, only nine still hold any YZY at the time of writing.
State Street joins JPMorgan’s tokenized debt platform
State Street, one of the world’s largest asset managers, has become the first custodian to adopt JPMorgan’s new blockchain-based debt platform, marking a milestone in institutional access to digital securities and signaling growing mainstream acceptance of digital assets.
The platform, called Digital Debt Service, enables clients to trade and settle tokenized government and corporate bonds on a blockchain. As part of the launch, State Street purchased $100 million in tokenized commercial debt from Oversea-Chinese Banking Corporation.
Institutional adoption of blockchain technology is accelerating in 2025, supported by favorable US regulations and the recent approval of the GENIUS Stablecoin Act.
Market observers told Cointelegraph that the legislation could serve as a gateway to tokenized real-world assets, a sector experiencing rapid growth this year. So far, private credit and US Treasurys have emerged as the most popular assets for tokenization.
