DeFI News by Thebittimes.Com

An under-the-radar altcoin defied the wider crypto market slump and surged in price this week amid a new strategic investment. Vana (VANA) is a layer-1 network for user-owned data. The project aims to allow users to contribute, tokenize, and share their data to create next-generation artificial intelligence (AI)-focused applications. The project’s native asset, VANA, launched in December and is trading at $8.88 at time of writing. The 228th-ranked crypto asset by market cap is up nearly 3% in the past day and more than 37% in the past week. VANA’s gains largely materialized after YZi Labs, formerly known as Binance Labs, announced a new investment in the layer-1 project. Binance founder Changpeng Zhao (CZ) also joined Vana as an advisor. Explains YZi Labs, “This marks YZi Labs’ first AI investment since its rebranding, reinforcing its expanded focus on transformative innovations beyond Web3, including AI and biotechnology. With CZ joining Vana...

With the asset class becoming a key political issue for the first time ever, Bitcoin as a strategic reserve asset could be a key route to economic stability, according to one report. Indeed, the Bitcoin Policy Institute (BPI) has discussed how the United States could harness the leading cryptocurrency to form a path to economic resilience. Amid rising federal debt, the US economic outlook has not been a great one. Moreover, the 2024 presidential election appears critical to correcting course but lacks the proposed policy to affect change. However, the presence of Bitcoin could be one viable way to “monetary stability,” the report notes. Also Read: Michigan Pension Fund Discloses $6.9M Investment in Bitcoin ETF Bitcoin as a US Strategic Reserve Asset Presents ‘Unique Opportunities’ The cryptocurrency sector has evolved to become a key aspect of global finance. There is no denying that the asset class has grown in prominence. Throughout the year, it has become embr...