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Quick Take Mountain Protocol has raised $8 million in Series A funding led by Multicoin Capital. The issuer of the yield-bearing USDM stablecoin targets 10x growth in USDM supply to 500 million tokens by year-end, co-founder and CEO Martin Carrica told The Block.




Grayscale was holding about 619,220 BTC when the spot ETFs started trading, worth over $28.5 billion at the time.On May 29, IBIT took that top spot, dethroning Grayscale as the spot bitcoin ETF with the most assets.We now have a benchmark for how long it took Grayscale to fall from the largest AUM on the bitcoin side, and now time will tell if it’s longer or shorter on the ether side.

Quick Take The following is an excerpt from The Block’s Data and Insights newsletter.
