The Daily: UK passes crypto property law, Firelight launches XRP staking protocol on Flare, Trump brothers’ American Bitcoin plunges, plus more
The UK officially recognized crypto as property, Firelight launched an XRP staking protocol on Flare, and American Bitcoin shares dropped significantly.Summary
The UK has officially recognized digital assets as a third category of property with the passage of the Property (Digital Assets etc) Act 2025, granting legal protection to assets like Bitcoin. In DeFi news, Firelight Finance launched an XRP staking protocol on Flare, issuing stXRP, a liquid receipt token intended to support a DeFi insurance model. Meanwhile, shares of American Bitcoin, the firm co-founded by Eric and Donald Trump Jr., plunged nearly 40% following the expiration of a lockup period for early investors. Other major updates include Elon Musk's X Money seeking a payments platform tech lead, IREN securing $3.6 billion in financing for its AI-cloud buildout, and Binance appointing co-founder Yi He as co-CEO alongside Richard Teng.
(Source：The Block)