USDtb is a blockchain-based USD stablecoin primarily backed by BlackRock's BUIDL tokenized treasury fund. Learn more here.

 have become a cornerstone of the crypto ecosystem, providing stability in a market known for its volatility. Among recent innovations is USDtb, a new stablecoin from Ethena Labs that leverages BlackRock's tokenized funds to create a reliable digital dollar alternative. 

This article examines USDtb's unique structure, its relationship with Ethena's existing 

 stablecoin and the way it bridges traditional finance with decentralized systems to offer a differentiated risk profile for both retail and institutional users.

 is a blockchain-based USD stablecoin primarily backed by the BlackRock BUIDL tokenized treasury fund. It provides institutional-grade stability with 24/7 accessibility in volatile market conditions.

, USDtb follows a traditional fully-backed stablecoin model in which each token represents one US dollar. This structure ensures value stability and transparency through a direct 1:1 backing relationship.

Eighty percent of USDtb reserves are invested in the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), which holds cash, repurchase agreements and US Treasury instruments. The remaining 2% is held in stablecoins like 

, in order to maintain immediate liquidity during weekends or holidays when traditional treasury markets are closed.

, is known for USDe, its innovative synthetic dollar. The Ethena protocol bridges traditional finance with decentralized systems through sophisticated financial engineering and institutional partnerships.

Generally based on Arthur Hayes's early 2023 "Dust on Crust" blog post, Ethena has quickly established itself as a major player in the stablecoin ecosystem. The protocol employs 

 that pair spot crypto assets with corresponding short positions on derivatives exchanges, enabling impressive revenue while maintaining stability.

The Ethena ecosystem is governed by its native ENA token. With the introduction of USDtb, Ethena expands its offerings to include a fully-backed stablecoin supported by BlackRock's institutional-grade BUIDL fund, thus diversifying its solutions to suit different market conditions and users.

BlackRock's USD Institutional Digital Liquidity Fund (BUIDL) is a tokenized money market fund that invests in dollar-equivalent assets, including cash, US Treasury bonds and repurchase agreements. Developed in partnership with Securitize, a leading 

 tokenization company, BUIDL represents BlackRock's entry into the tokenized treasury space.

BUIDL is cross-chain compatible, operating across multiple blockchains including Ethereum, 

. As the largest tokenized fund of its kind, BUIDL provides institutional-grade backing for USDtb, lending credibility to the stablecoin through BlackRock's established reputation in traditional finance.

USDtb represents Ethena's strategic approach to creating a more resilient ecosystem that can weather various market conditions, while bridging the gap between DeFi innovation and traditional financial systems. Following are some of its characteristics.

USDtb operates as a blockchain-based stablecoin through a sophisticated infrastructure designed for independence, transparency and security. Unlike traditional dollars, USDtb enables faster and cheaper transactions, while maintaining stability through institutional-grade backing.

The minting and redemption process occurs through a 

 system with strict controls. Only verified

 checks can mint or redeem USDtb directly. The system’s safeguards include maximum mint/redeem limits per block and whitelisted custodian addresses to prevent manipulation.

For transparency, USDtb maintains visible on-chain 

 and publishes monthly fund administrator NAV reports. Holders can use USDtb just as any digital dollar for payments, trading or storing value, though they receive no governance rights or claims to income generated by the backing assets.

USDtb offers the following four key benefits that make it a distinctive and valuable addition to the digital asset ecosystem.

USDtb delivers institutional-grade security through its strategic backing by BlackRock's BUIDL fund, which comprises over 80% of its reserves. This partnership leverages BlackRock's trillion-dollar asset management expertise, providing unparalleled stability and trust.

The USDtb stablecoin's sophisticated legal framework features a bankruptcy-remote structure, while its core smart contracts have successfully passed three comprehensive security audits by industry leaders Pashov Audit Group, Quantstamp and Cyfrin.

USDtb creates powerful bridges between traditional finance systems and cryptocurrency markets. For institutions, it serves as a low-friction entry point to digital assets without requiring users to navigate the complexities of volatile cryptocurrencies.

For individual users, USDtb is designed for seamless integration across DeFi protocols, use as collateral on 

 (CEXs) and prime broking venues, and direct accessibility for TradFi institutions — expanding its role within both digital and traditional financial ecosystems.

USDtb combines world-class expertise from multiple industry leaders. Ethena has demonstrated remarkable execution capability by scaling USDe to over $6 billion in market cap, while BlackRock brings unmatched credibility and treasury management expertise.

In addition, Securitize contributes cutting-edge tokenization technology as the recognized leader in converting real-world assets to blockchain tokens, creating a stablecoin with institutional pedigree, which is rarely seen in cryptocurrency markets.

Unlike TradFi systems that are constrained by business hours and settlement windows, USDtb operates continuously on blockchain infrastructure. This enables round-the-clock trading, transfers and redemptions, regardless of traditional market hours.

The strategic 20% stablecoin reserve ensures seamless redemptions, even during weekends or holidays — when treasury markets are closed — thus eliminating cross-border friction and enabling value transfers in minutes (rather than days).

USDtb's forward-looking strategy focuses on expanding its ecosystem presence and institutional adoption throughout 2025. The project aims to establish USDtb as a reliable dollar alternative, with multiple avenues for growth.

Looking toward broader financial applications, Ethena plans to incorporate USDtb into new DeFi offerings, including perpetual swap trading, prediction markets and undercollateralized lending solutions. These expanded use cases aim to increase USDtb utility beyond simple transfers.

USDtb operates as a fully collateralized stablecoin with a straightforward 1:1 peg to the US dollar. Each token is backed by institutional-grade assets, primarily BlackRock's BUIDL treasury fund (80%) and USDC reserves (20%), creating a stable digital dollar alternative.

The token supply expands and contracts, based on market demand, through a controlled minting and redemption process. New USDtb can only be created when onboarded users deposit equivalent value in approved assets, ensuring the backing never falls below 100%.

Distribution follows a hybrid model: initial minting is restricted to KYC-verified participants, but once in circulation, USDtb tokens trade freely across blockchain ecosystems with no transfer restrictions. This approach balances regulatory compliance with the open accessibility expected within 

USDtb is purely a transactional asset, with no governance functions. Holders receive no voting rights, participation in management decisions or claims to revenue generated by the backing assets — keeping the token's purpose clear as a stable medium of exchange and store of value.

Looking to trade USDtb tokens? Bybit now offers the USDtb/USDT Spot trading pair. To get started, you'll first need to create a Bybit account, then fund it with cryptocurrency and navigate to the 

To celebrate this listing, Bybit is launching a 30-day promotional event with a 5% APR on USDtb holdings, as well as a permanent rewards program. Find out more 

Minting/Redeeming USDtb directly requires KYC and onboarding, in addition to following a structured verification process:

: Prospective users must first confirm they’re in a permitted jurisdiction by reviewing the 

: Qualified entities should make contact via this 

 to begin the evaluation process and determine suitability.

: All applicants must complete comprehensive know-your-customer and anti–money laundering verification. This process is thorough, and is designed to meet institutional compliance standards.

: Upon successful verification, users may be onboarded at their discretion, subject to the USDtb Terms and USDtb Mint User Agreement.

: Whitelisted users can then deposit approved assets into the system and receive newly minted USDtb through the secure smart contract infrastructure.

The direct minting process is primarily designed for qualified institutional participants who can meet the regulatory and compliance requirements.

While USDtb offers institutional-grade stability in the stablecoin market, investors should carefully weigh its strengths and risk factors before making investment decisions.

With its institutional backing and integration with Ethena's ecosystem, USDtb shows promise as a stable digital dollar alternative, particularly during market downturns. However, potential investors should 

 and consider their goals before investing, as USDtb is primarily a stability tool, rather than a yield-generating asset.

USDtb merges BlackRock's institutional credibility with blockchain technology's accessibility, creating a powerful bridge between traditional finance and decentralized systems. With its secure backing structure, utility during times of market volatility and an ambitious integration road map, USDtb is positioned to become a significant player in the digital dollar ecosystem.

Intermediate

usdtb.png

USDtb: The Ethena stablecoin backed by BlackRock's digital funds

Stool Prisondente (JAILSTOOL) is a meme coin launched on Solana, which stems from an inside joke within Dave Portnoy's Barstool Sports community.

Meme coins thrive on hype, but few have the backing of an internet icon like Dave Portnoy. Stool Prisondente (JAILSTOOL), a Solana-based token, was born from a joke about Portnoy’s hypothetical imprisonment, and has since become a real, tradable asset. Its rise highlights the ongoing Solana meme coin frenzy — as speculation meets sheer internet absurdity.

But is JAILSTOOL just another flash-in-the-pan meme coin, or could Portnoy’s influence push it toward becoming something bigger? This article will cover everything you need to know, from its origins and market performance to the risks of trading a coin driven entirely by online sentiment.

The Solana meme coin scene is a high-stakes, high-reward battlefield, where new tokens rise and fall within days — sometimes hours. Recent months have been particularly wild:

Unlike many meme coins that pop up without real backing, JAILSTOOL’s so-called Portnoy effect sets it apart.

, a media empire built on sports, pop culture and internet controversy. Portnoy is a polarizing figure, known for his unfiltered takes, viral rants and ability to move markets through sheer personality — whether in stocks or crypto.

During the 2021 crypto bull run, Portnoy dabbled in Bitcoin (BTC), Dogecoin (DOGE) and other speculative assets, often live-streaming his trades to his millions of followers. Though his crypto track record is mixed, his ability to command attention is undeniable.

This influence has played a major role in JAILSTOOL’s rapid rise.

The origin of Stool Prisondente, a meme coin launched on Solana, stems from an inside joke within the Barstool Sports community. Its name references a hypothetical scenario in which Portnoy ends up in prison — a concept that his audience found amusing enough to turn into a cryptocurrency.

The token was minted shortly after Portnoy publicly expressed interest in getting reinvolved with meme coins. Seizing the moment, opportunistic traders launched JAILSTOOL — and, thanks to Portnoy’s implicit endorsement, it quickly gained traction.

Though Stool Prisondente has no fundamental utility, its value lies in community engagement and the ongoing meme-driven trading culture that has defined Solana’s recent market dynamics.

 a fully diluted valuation (FDV) of $9.35 million, with a 24-hour trading volume of $12.45 million. The token hit an all-time high (ATH) of $0.2179 on February 9, 2025, when it reached a peak FDV of over $209 million. However, it has since plunged by over 95%, highlighting the extreme volatility of meme coins, and is currently 17.3% above its ATL of $0.007417 on February 18, 2025. 

The coin has experienced wild price swings typical of meme-driven assets. Early traders saw huge gains, while latecomers have been caught in inevitable sell-offs. This volatility is a feature, not a bug, and is what makes meme coins both exciting and incredibly risky.

 have directly impacted JAILSTOOL’s price movements. His ability to drive engagement and trading volume is reminiscent of Elon Musk’s influence over Dogecoin.

Several of Portnoy’s recent tweets have kept the coin’s momentum alive, with traders hanging onto every word for potential buy or sell signals. However, Portnoy himself has been careful not to overcommit — and therefore, likely to avoid any regulatory scrutiny.

Still, the mere association with Portnoy has been enough to sustain interest, proving once again that in the meme coin market, narrative often outweighs fundamentals.

For all its hype, JAILSTOOL is a high-risk asset, and potential investors should proceed with caution. Here’s why:

In short, investing in JAILSTOOL is more like betting than traditional investing. If you’re in it, you’re speculating on the next viral moment, rather than long-term value.

Stool Prisondente (JAILSTOOL) is a prime example of the modern meme coin era — a joke that turns into a multimillion-dollar token through hype, community engagement and effective influencer backing. Its association with Dave Portnoy has given the meme coin a stronger foothold than most new ones.

For those looking to trade JAILSTOOL, it’s now available on Bybit, where users can access the 

Beginner

jailstool.png

Stool Prisondente (JAILSTOOL): Dave Portnoy–Backed Meme Coin

Canary Capital, led by former Valkyrie co-founder Steven McClurg, has filed with the SEC to launch an ETF tracking Axelar’s AXL token, citing its strong developer team and growing institutional adoption. 

The S&P 500 gained 1.12%, led by materials, consumer discretionary, and industrials, after a one-month auto tariff exemption. Gold dipped 0.1% to $2,913.79, holding above $2,900 amid tariff concerns and ahead of U.S. payroll data. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 3.42%, with Bitcoin and Ether rising by 4.24% and 2.71%, respectively in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today’s top performer is KAITO, which surged nearly 6.51% following the announcement of Kaito AI powering FalconX’s AskFocal to enhance crypto market insights.

Kaito (KAITO), founded in 2022, is an AI-powered crypto search engine that indexes web3 sources beyond traditional search engines. Priced at $1,099/month, it gathers data from platforms like Twitter, Discord, and research papers, using AI to filter noise and assess sentiment. 

, an AI-driven platform helping 80+ funds managing $10B+ navigate crypto markets by analyzing sentiment and filtering data from partners like CoinGecko and Token Terminal.

Check Out the Latest Prices, Charts, and Data of 

Canary Capital, led by former Valkyrie co-founder Steven McClurg, has filed with the SEC to launch an ETF tracking Axelar’s AXL token, citing its strong developer team and growing institutional adoption. Axelar, a cross-chain protocol integrated by J.P. Morgan, Microsoft, Uniswap, and MetaMask, enables secure blockchain interoperability. Former Coinbase legal chief Brian Brooks has joined Axelar’s new Institutional Advisory Board to support regulatory alignment. McClurg believes AXL will become a top-20 token as the market recognizes its potential.

Yesterday, BTC Spot ETFs saw a total net outflow of $6.9M, with no change in GBTC and the entire outflow coming from non-GBTC funds.

, a game server platform, raised $13.5M in funding and is backed by Bitkraft, Solana, and Polygon. Its Beamable Points Program is live, allowing users to earn points for a potential airdrop. The "Day 1 OG Badge" claim ends in 6 hours, so users should quickly create an account, complete tasks, and claim the badge.

3.png

Canary Capital Files for Axelar ETF as Institutional Adoption Grows

Aave's new proposal outlines a major update to its tokenomics, focusing on revenue distribution, risk management, and a buyback initiative.

The S&P 500 dropped 1.22%, with most sectors down except tech, which gained on chipmakers and crypto stocks. Gold rose to $2,918 as US tariffs weakened the USD, fueling safe-haven demand amid recession fears. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 1.02%, with Bitcoin and Ether rising by 1.02% and 3.20%, respectively in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today’s top performer is ADA, which surged nearly 18.4% following major developments, including its inclusion in the U.S. Crypto Strategic Reserve, governance advancements, and staking updates.

Cardano (ADA), founded in 2015 is a third-gen Proof of Stake blockchain designed to address scalability issues. Its five-phase roadmap—Byron (launch), Shelley (decentralization), Goguen (smart contracts), Basho (sidechains), and Voltaire (governance)—aims to make Cardano fully decentralized and self-funded. 

 ADA’s inclusion in the U.S. Crypto Strategic Reserve, an upgraded staking rewards calculator, and IOG’s new documentary on Cardano’s governance. Other key updates include Babel Fees for flexible payments, the 2025+ governance roadmap for on-chain voting, and the launch of the Cardano Development & Ecosystem Cooperative (CDEC) to drive decentralized innovation.

 outlines a major update to its tokenomics, focusing on revenue distribution, risk management, and a buyback initiative. It retains rewards for GHO stakers while introducing “Anti-GHO,” a non-transferable token earned by AAVE and StkBPT stakers. The “Umbrella” safety system is designed to reduce the impact of bank runs and safeguard against bad debt. Additionally, the proposal suggests forming the Aave Finance Committee (AFC) to manage a $1M/week AAVE buyback over six months. With DeFi expanding and Aave leading at $17.5B in total value locked, buybacks are increasingly used to boost investor confidence and ecosystem resilience.

Yesterday, BTC Spot ETFs had a net outflow of $143.5M, with GBTC unchanged and all losses from non-GBTC funds.

 token on Ronin on March 11 after migrating from Avalanche. The 7B supply token will fuel the game's ecosystem, with 50% allocated to community incentives, including airdrops and staking rewards. A community sale via Ronin Launchpad offers FAME at $0.00429 before launch. The game, backed by NBA stars and brands like Gatorade, aims to expand its sports gaming presence.

Aave Proposes Tokenomics Revamp with Safety System, Revenue Redistribution, and Buybacks

Bybit Learn

Blockchain

Explainers

Altcoins

RedStone is a modular set of blockchain oracles that developers can use to take information from the outside world and add it to their blockchains.

EN_2409-T35020_Learn_Read_to_Earn_728x90.png

Skinny_Banner-1600x400.webp

 are indeed powerful, they don't always operate in a vacuum. To function with real-world data, blockchains need a way of getting extra information into their systems. This is where 

 like RedStone can help. RedStone's blockchain oracles make it much easier to transfer information between systems. Furthermore, RedStone’s modular architecture is designed by builders, and for builders. To learn more about what this means — and why it's so important — explore this guide to the RedStone community and token. 

 is a modular set of blockchain oracles that developers can use to take information from the outside world and add it to their blockchains, or vice versa. Currently, over 100 

 (DApps) use RedStone, for example to check blockchain pricing or track 

. Wojciechowski is the co-founder of another blockchain startup, Alice. He has experience working as a blockchain architect and 

 (DeFi) jobs, Wojciechowski encountered many other types of oracles, and was inspired to create his own, more effective blockchain technology. To accomplish this, he teamed up with Ka

mierczak — a business administration expert who founded the 

 conference — and Suvorov, an expert software developer who helped to create 

's oracle platform. RedStone was founded in 2021 and launched its mainnet in 2024. 

RedStone aims to build a blockchain oracle that can fully address the needs of DApp developers. While countless projects want to be able to use outside data for their blockchain ecosystems, they often struggle to find secure, customizable and cost-efficient options. 

RedStone hopes that its solution is more scalable, and can provide sustainable oracle economics — no matter how many users work with it. It also relies on a modular oracle design that makes it more flexible. 

RedStone believes that developers who use its price and data feeds will be able to choose the features that work for their projects, and discard the unnecessary ones. In addition to scalability and flexibility, RedStone also endeavors to prioritize security. By using a system built on critical systems engineering, the company hopes RedStone oracles can remain secure and operational even during systems failures and malicious attacks.

RedStone’s core architecture is centered on a four-part process: 

RedStone oracles implement three different essential data delivery mechanics into its system. Most oracles are either push oracles — which constantly update data for the blockchain — or pull oracles, which only update data when requested. While two of RedStone's modules follow these 

, it also features an innovative hybrid model that can update from data providers continuously or on-demand as needed. The modular architecture of RedStone allows people to select exactly the type of oracle they need without unnecessary details. 

RedStone stands for versatility and customization, so it works hard to provide its users with many different services. Following are some of the most common reasons people use the RedStone modular oracle system.

The modular oracle is the mainstay of the RedStone blockchain ecosystem. Developers can incorporate a variety of oracle designs into their DApps, and the tools manage both design and upkeep for developers. Not only do users have access to pre-written smart contracts that are fast and simple to use, but RedStone will also ensure all data is up-to-date. 

RedStone’s price feeds collect pricing data from a variety of data providers. Developers can choose price feeds from specific exchanges, or they can receive averages and summations that look at the total value of pricing around the globe. RedStone also offers custom pricing methodologies to suit unusual risk parameters, as well as other design needs.

In addition to working with specific apps, RedStone also offers integration directly into blockchain systems. A company looking to have a built-in oracle in its blockchain can meet with RedStone for configuration help. The RedStone team will work to implement the technology in users' chains, and then help promote the chain because it’s part of the RedStone community.

For those interested in artificial intelligence (AI), RedStone offers data feeds powered by AI. Its blockchain technology uses AI to enhance accuracy and avoid security issues. The company also offers an AI communication layer that helps developers with their tasks. 

RedStone has recently been working on releasing many new features, such as 

 and RedStone AI. While it hasn't produced a definitive road map for 2025, the system has hinted that it will continue to work on enhancing its technology. According to the company's website, it hopes to soon add AI-enhanced price feeds that use AI for volatility prediction and outlier detection. Another big focus for RedStone's ecosystem growth is 

. Throughout the upcoming months, the project will be working to onboard more data providers and create more opportunities for the RedStone community to participate in network operations. 

RED is used to provide rewards — for example, for the RedStone AVS staking program. Its ultimate goal is to assist with decentralizing its entire network. 

, but only 300 million are available for the token’s launch. The remaining 70% of the token supply will slowly be unlocked per a four-year vesting schedule, and will be distributed according to the following method: 

Though the RED crypto token hasn't yet launched, there’s been some speculation around its price. Pre-market trading for RED is already pricing the token at around $0.70 to $0.90. Coinbay reports that its community is predicting RED token prices 

. Other crypto enthusiasts believe that a price around $1 is too conservative. Since a large proportion of the token's maximum supply will be locked at launch, the tokens may be rare enough to command a higher price. PANews predicts that RedStone will launch 

RED tokens haven't officially launched yet, so they're not trading on most token exchanges. However, if you want to get an early start on your investing, you can buy RED through 

. To get started, you’ll first need to create a Bybit account, then fund it with cryptocurrency and navigate to the 

There’s a good reason that RED is one of the hotly anticipated tokens of early 2025: it’s expected to have a lot of utility in a reliable and frequently used system, so its price is likely to remain stable. Furthermore, the token is linked to a lot of exciting new upgrades, including RedStone AVS and AI blockchain technology, which will help it to retain momentum after launch. These indicators suggest that investing in the RED token could prove rewarding.

Nevertheless, it's impossible to guarantee a crypto token price before launch. There isn't a lot of pricing data for the RED token yet, so it's hard to predict how much value it will have for investors. As the total value of the token increases due to unlocks, RED’s price could get pushed down. Additionally, general volatility and market swings could cause decreases in RED’s price. Therefore, anyone who invests in this token needs to 

The RedStone project currently stands for sustainable oracle economics, convenient developer tools and accurate data feeds, and it's no surprise that so many DApps and chains already use it. As the system begins to focus on ecosystem growth, it might also attract attention from crypto investors. Now that this system is finally releasing its own cryptocurrency, it will be able to offer even more features to the world of DeFi.

RedStone (RED): Price Feeds Designed by Builders, for Builders

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards