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The native asset of the stablecoin-focused crypto project Ethena (ENA) skyrocketed by more than 28% on Friday, ignoring a wider crypto market pullback. The price surge materialized after the Arthur Hayes-backed decentralized finance (DeFi) project announced a new strategic partnership with Anchorage Digital, a federally chartered crypto bank. The partnership aims to bring Ethena’s second stablecoin offering, USDtb, to the US under the regulatory umbrella of the recently enacted GENIUS Act, with Anchorage Digital issuing the asset domestically. The new law, signed by US President Donald Trump last week, establishes a regulatory framework for stablecoins, cryptocurrencies pegged to the US dollar. The legislation requires each token to be fully backed by liquid assets such as cash or short-term US Treasuries. USDtb is backed by institutional-grade tokenized treasury funds, including BlackRock’s BUIDL, a tokenized money-market fund designed to offer a stable value of $1 per token. BlackRock’s fund is built on the Ethereum (ETH) blockchain. Says Guy Young, CEO of Ethena Labs, “While we’ve already seen strong demand for USDtb, we expect GENIUS compliance to empower our partners and holders to confidently and significantly expand its use across new products and platforms. By partnering with Anchorage Digital – the only federally regulated crypto bank in the United States – we reinforce the foundation needed to continue scaling the product without compromising on speed, flexibility, or trust.” Ethena’s native asset, ENA, is trading at $0.607 at time of writing and is up more than 56% in the past seven days. By comparison, the overall crypto market cap is down more than 4% in the past 24 hours. Follow us on X, Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix   Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Arthur Hayes-Backed Altcoin Outpaces Crypto Market Amid Launch of New Partnership With Anchorage Digital appeared first on The Daily Hodl.

SharpLink Gaming Ltd, a leading corporate Ethereum (ETH) holder has announced Joseph Chalom as its new Co-Chief Executive Officer (CEO). As a former senior executive at BlackRock, Chalam brings institutional leadership expertise to SharpLink. SharpLink Moving Forward in the Digital Asset Space Ethereum co-founder Joseph Lubin has expressed excitement about Chalom’s new position. Lubin, also serving as Chairman of SharpLink Gaming, has highlighted the expansive role Chalom played while at BlackRock. Chalom spent the past 20 years at BlackRock, helping to lead its digital asset strategy. Some of his digital finance innovations at the firm include the launch of iShares Ethereum Trust (ETHA). This is the largest spot ETH exchange-traded fund (ETF), with over $10 Billion in current assets. In addition to ETH, Chalom played a key role in the launch of BlackRock’s iShares Bitcoin Trust ETF and the BUIDL tokenized funds. Chalom also architected strategic BlackRock partnerships with Coinbase, Nasdaq, Anchorage, BNY Mellon, Digital Bank, and Circle. The veteran aimed to drive product innovation and broader institutional adoption. Over the next quarter, SharpLink’s current CEO, Rob Phythian, will transition to the role of President. He will also remain a member of the company’s Board of Directors. A New Era for Ethereum Joseph Lubin noted Chalom’s decision to join SharpLink Gaming would herald ETH into a new chapter in digital finance. The co-founder emphasized that Chalom brings a massive vote of confidence among investors for ETH. He added that Ethereum will continue to play a key role in the future of capital markets. Lubin foresees fresh capital flowing into ETH as builders push the coin into the core of global finance. SharpLink Management Hiring Update | Source: Joseph Lubin For context, SharpLink began buying ETH as part of its corporate treasury strategy in mid-June 2025. On July 11, the firm announced it purchased 10,000 ETH for $25.72 Million in an over-the-counter (OTC) deal. Co-founder Lubin played a significant role as a catalyst for SharpLink’s Ethereum treasury. By July 16, SharpLink purchased an additional 6,377 ETH, valued at $19.56 Million. This purchase pushed the firm’s total holdings to above 287,083 ETH. SharpLink quickly became the largest single corporate holder of ETH, holding more coins than the Ethereum Foundation. Accordingly, ETH price rallied more than 6% in just a day to trade at $3,160. Popular analyst Scott Melker also reiterated his prediction that the ETH price will hit $4,000. As of this writing, Ethereum price was trading at $3,721, down 0.21% over the past 24 hours. However, ETH rallied as high as $3,744 earlier today before dropping to current levels. The trading volume also rallied moderately by 5.1% to $41.2%, indicating that investors’ interest in the coin remains high. More Institutions Flock to ETH It is worth noting that more institutions have increased their commitment to adopting Ethereum. This move highlights the growing convergence between traditional finance (TradFi) and cryptocurrency. Top traditional firms, including Bitmine Immersion Technologies, BioNexus Gene Lab, and Bit Digital, recently increased their ETH stake. Notably, Bitmine raised $2.5 Billion to expand its ETH acquisitions. BlackRock is not left out of the game. The firm purchased 27,158.86 ETH, worth approximately $100 Million, on July 21. This purchase follows consistent institutional buying this month. So far in July, BlackRock has purchased over $1 Billion worth of Ethereum across various timeframes. Moreover, total inflows into BlackRock’s ETHA continued to dominate the spot ETH ETF market. Within the past six days, the ETH ETF market saw inflows reaching $2.39 Billion. Of this figure, ETHA alone attracted about $1.79 Billion, roughly 75% of all ETH ETF inflows. This means ETHA’s AUM jumped past $10 Billion in just 251 trading days. The fund became one of the fastest ETFs ever to hit that milestone. The post Ethereum Treasury Firm SharpLink Gaming Adds BlackRock Veteran As Co-CEO appeared first on The Coin Republic.