Blockchain & Web3 Weekly Bytes Edition #69

🪙 Stablecoin Bill Passes, DeFi Hits $55B, Coinbase Targets Stocks

Jun 21, 2025

Hello Blockchain Enthusiast,

Welcome to Edition #69 of Blockchain & Web3 Weekly Bytes! The Senate has passed the GENIUS Act, marking the first formal stablecoin legislation in the US. DeFi lending is back in the spotlight with $55 billion in total value locked, led by Aave, Maple, and Morpho.

Tech Spotlight: This edition breaks down DeFAI, where AI protocols are being trained and deployed across decentralized networks using shared compute.
Weekly Highlights: Coinbase is moving to list blockchain-based stocks. JPMorgan is piloting a deposit token on Base.
Affiliate Spotlight: 101 Blockchains offers Web3 certifications built for real-world application, not marketing slides. Check it out here.
Chart of the Week: Most bitcoin isn’t on exchanges or with institutions. It’s in personal wallets. That number recently crossed 11 million.

🧠 Weekly Trivia

Which Bitcoin miner just turned on a full node for the first time?

A. Riot
B. CleanSpark
C. Marathon
D. Bitdeer

*Find the answer at the end of this newsletter.

🌟 Tech Spotlight – DeFAI Defined

DeFAI stands for Decentralized Federated AI. It runs machine learning across public networks using everyday devices like phones, laptops, and idle GPUs.

Instead of one company training models in secret, small tasks are distributed to independent participants. Each gets paid for their part. No gatekeeping. No central control.

Gradient’s Lattica and Parallax projects are leading this charge. They use Solana to sync devices, assign jobs, and settle payments.

This approach removes the need for massive data centers or permission to contribute. Anyone with spare compute can get involved. No signups. Just code, incentives, and participation.

DeFAI flips the model. The infrastructure is public. The rules are baked in. The work is shared.

📰 This Week’s Blockchain and Web3 Highlights

DeFi Lending Hits $55B: Aave v3 climbed 55 percent in two months. Maple and Morpho added momentum with tokenized credit pools gaining fresh capital.

Stablecoin Bill Clears Senate Vote: The GENIUS Act passed in a landmark Senate decision. It outlines how dollar-backed tokens can be issued and traded under US law. The House is next.

JPMorgan Launches Deposit Token on Base: JPMD, a bank-issued token for settlements, is now live in a limited pilot. The program runs on Coinbase’s Base network and is open only to JPMorgan’s institutional clients.

Kraken Rolls Out Bitcoin Staking with Babylon: Users can now earn up to 1 percent APR on bitcoin directly held with Kraken. No wrapping. No lending. Just native staking through Babylon’s protocol.

Coinbase Applies to List Tokenized Stocks: The exchange has filed with the SEC to offer blockchain-based stocks in the US. The plan is designed to compete with platforms like Schwab and Robinhood.

Bitwise Flags Fiat Risk: Bitwise CIO Matt Hougan says more investors are opting for bitcoin as a hedge, while central banks stockpile gold to offset fiat uncertainty.

$10M Raised to Decentralize AI Compute: Gradient secured funding from Pantera and Multicoin to build Lattica and Parallax — AI protocols that run across devices instead of servers, using Solana to coordinate compute and payments.

😂 A Little Blockchain Humor Break 🤣

Source: Crypto.com

📊 Chart of the Week: Self-Custody Leads Bitcoin Ownership

As of December 2024, 55.4% of all bitcoin is held directly in personal wallets. That’s 11.63 million BTC outside of exchanges and custodians.

Third parties hold about 38.9%, and 5.7% hasn’t been mined yet.

This trend is clear. More holders are choosing to take direct control instead of outsourcing it.

Never tried self-custody? Start with a small amount. Get familiar. It’s a skill worth having.

Source: River

DeFi lending just crossed $55 billion. The Senate passed its first real stablecoin bill. Coinbase wants to bring stocks on-chain. And more than half of all bitcoin is now in self-custody.

🎯 Trivia Answer: ✅ C) Marathon

After years of mining without one, Marathon has finally deployed a public Bitcoin node.

📬 Want your product in front of 1,200+ focused blockchain readers? Sponsor the next edition.

Catch you next Saturday.

Thank you,
Ajay Tomar

Disclaimer:

Content in this newsletter is for educational and informational purposes only and is not intended as financial, tax, or legal advice. Always do your research and consult with a professional before making financial decisions. As a solopreneur, I may earn commissions from affiliate links in this newsletter at no extra cost to you. This support helps me bring you valuable content. I only endorse products I trust and believe could benefit you.