This Week in Crypto: Trump Advocates Pro-BTC Policies, Deutsche Bank Launches Project DAMA 2, and More

This week's news highlight significant advancements and shifts in the cryptocurrency and blockchain sectors, underlining their growing influence across various industries.

Recent news highlights significant developments and shifts in the cryptocurrency and blockchain sectors, underscoring their growing influence across various industries.

First and foremost, Donald Trump's victory in the 2024 US election and his subsequent promotion of Bitcoin and cryptocurrencies have signaled a crypto-friendly future for the United States. His policies, which aim to enhance the regulatory environment for new assets, could redefine the future of the cryptocurrency market and its regulation. Notably, Trump's agenda includes preserving the current $15 billion of USA crypto investment, which amounts to more than 203,650 bitcoins, and further adoption of BTC as a reserve currency. This move aligns with global trends integrating Bitcoin into national fiscal policies.

In another significant development, Deutsche Bank launched the second iteration of Project DAMA at the 2024 Singapore FinTech Festival. The bank, together with its partners, showcased new capabilities of tokenized assets and multichain connectivity in asset servicing. Memento Blockchain's ZKchain, connected to Axelar, served as the primary blockchain in this project, utilizing zero-knowledge technology to enhance its security and capacity for expansion.

Furthermore, several factors contributed to the successful execution of the project. A digital identity system powered by Provenance, utilizing soulbound tokens, enabled KYC, AML, and sanctions compliance. Traditional payments for gas fees were processed through Paymaster functionality. The blockchain explorer maintained users' anonymity while fulfilling legal on-chain requirements, providing a secure space for users.

Binance also stepped into the spotlight this week with its $3 million donation to the Spanish Red Cross following the Valencia floods, as announced on the official X Binance account. The funds were allocated to coordinate resources for the victims of the natural disaster, with a focus on relief and reconstruction efforts.

Javier García de la Torre, General Manager of Binance Spain, expressed the company's solidarity with the flood victims and highlighted Binance's commitment to using its resources for good, beyond profit generation. This donation reinforces Binance's dedication to global humanitarian causes and its role in supporting communities during times of crisis.

Continuing with the theme of Web3 initiatives, TON Accelerator launched the $5 million Synergy program to boost interconnected projects between TON blockchain and Mantle, the EVM partner network. The program aims to provide developers with the necessary tools to bridge the large user base of TON with the versatility of EVM networks. Synergy is backed by TON Ventures and Mantle's EcoFund, which aims to finance projects that enhance communication between different blockchains.

The initiative also seeks to capitalize on the vast Telegram user base in conjunction with Mantle's diverse DeFi and CeDeFi offerings. Participants will receive product design, integration support, and marketing tools, enabling them to create novel cross-chain applications, ranging from DeFi and gaming to staking.

Finally, Crypto.com unveiled its "Level Up" program, offering new banking and credit services to customers through partners, which are financial institutions. The program spans various activities within Crypto.com's expanding financial product offering, encompassing crypto, equities, and more.

The company launched a global personal banking product that integrates with the most-used banks, allowing users to operate accounts within the Crypto.com app. These accounts offer high interest earning, no surprise charges, and instant transfers. Additionally, Crypto.com ventured into equities and stock trading in collaboration with Watchdog Capital LLC, providing commission-free trades.

A card system is also introduced, with rewards of up to 8% on the amount spent using the card and unique privileges for the first, second, and third tiers of membership, as users engage in various activities within the Crypto.com ecosystem.

In conclusion, the events of the current week serve as a testament to the increasing interconnectedness of cryptocurrency and blockchain with traditional finance and global endeavors. They all point to the fact that digital assets are gradually becoming integrated into society in various aspects, ranging from politics to social responsibility and from finance to banking and equities. As the process of innovation goes on, it is also obvious that crypto has a great potential in changing the financial systems and interactions on the planet.

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