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

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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

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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.

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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

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Artificial Intelligence (AI)

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Venice is an artificial intelligence platform committed to providing users with the utmost security and privacy. Learn more here.

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Artificial intelligence (AI) offers people many benefits, but it also comes with some concerns about privacy and security. Venice’s AI platform hopes to address these concerns by offering a private and uncensored AI model for users to enjoy. 

While it's not a fully blockchain-centered technology, Venice does offer some 

 features, such as its own cryptocurrency token. To learn more about how its system operates and to learn whether you want to invest in it, make sure to explore this guide to Venice’s AI platform.

 is an artificial intelligence platform committed to providing users with the utmost security and privacy. This open-source AI model can create images, text and code, just as with Stable Diffusion and ChatGPT. However, Venice doesn’t spy on users or censor its results.

Venice is a Swiss-based company founded by 

, the former CEO of ShapeShift, a crypto exchange, and is a well-known privacy advocate within the crypto community. As AI technology began to take off, Voorhees quickly noticed the need for more privacy. To keep Venice as true to his original vision as possible, Voorhees has kept his team very small. He does have help, however, from a few other industry experts, such as COO Teana Baker-Taylor, who used to be Binance’s UK Director. But Voorhees is the sole founder of the platform, and the company only consists of six other people. 

While AI services can be useful for tasks such as replying to image generation, many of its bigger systems put a lot of rules in place. Users are censored in the types of text prompts they can request, and the system may discard answers it feels are too risqué or inappropriate. Venice promises to deliver uncensored information straight to users. 

The project also wants to bring the power of AI to users without requiring them to sacrifice privacy. Many leading open-source AI models have to sell user data to big companies in order to afford the equipment to run their AI. This can lead to major privacy concerns, especially if a security breach leaks private data to the public. Venice plans to maintain a secure environment in which people have permissionless access to AI.

Venice operates on a set of abliterated AI models. These are modified large language models (LMMs) that have had their restrictions and censorship mechanisms removed. Venice provides access to a variety of 

, including Dolphin 72B, Flux and Stable Diffusion. Users can switch between these models in order to experience various response styles and parameters.

Venice mostly uses generative technology and standard software coding to run its website, but it does have a blockchain framework as well. The computational power needed to run all the Venice programs is broken down into standardized 

 (VCUs). The system tracks the number of VCUs a person uses, and if a person goes over the free daily limit of VCUs, they can pay for additional VCUs with VVV tokens. This system runs on Base, a 

 Ethereum network that provides both security and accuracy. 

Venice's mission to deliver uncensored AI content in a secure environment has led to many exciting features. Users can access the following services, regardless of whether they’re casual AI enthusiasts or experienced pros.

Venice provides permissionless access to all the wonders of text-based AI. Some people use Venice to write essays or request information on various concepts. You can also use its text generation to interact with the AI, and request it to function like a chatbot and talk back and forth with you.

You can use this uncensored AI service to create images based on a variety of prompts. For example, you can enter subjects, theme matters and even art styles to generate unique artwork. Unlike many other leading open-source AI services, Venic allows for some unusual and NSFW imagery.

Venice also has a system exclusively for coders. If you're interested in using AI to build software, the system can deliver you custom-written code. Simply set up text prompts describing what you want your code to accomplish, and depending upon the model you use, you may be able to filter parameters such as program language and coding type.

Venice recently introduced a new feature on its platform that lets users create and interact with AI characters with no filters. Each character comes with a unique personality and backstory, offering a fully customizable and immersive chat experience. You can even upload a PDF to add depth or duplicate and evolve characters to explore new personalities. 

Venice's founder has worked diligently to set up a basic system with access to uncensored AI models and some helpful privacy features. Now that this foundation is finished, the development team is primarily working on user experience features. They hope to implement useful details, such as editing previous messages, backing up chat and improving the tagging system. 

 that they think will help them. Thanks to user input, Venice’s road map includes plans to eventually add more tutorials, direct access to web links and provide auto-top-up options for Venice API credits.

The VVV token is used to manage resource distribution for the Venice system. For instance, you can pay usage fees for image generation with the token, and pro users can 

 VVV to gain free access to the Venice system in perpetuity. VVV’s starting supply is 100 million tokens, with plans to create 14 million new tokens each year. Half of the initial supply of tokens will be distributed to community members via 

, while 35% are reserved for development and growth, 10% will be used for ecosystem incentives, and 5% will be used for liquidity. The further 14 million tokens that are released each year will be distributed as staking rewards for people who participate in the private and uncensored Venice network. 

When the VVV token debuted in January 2025, it quickly reached an all-time high (ATH) of $22.58, and then hit an ATL of $2.50 less than a week later. Prices have mostly stabilized since then and range from $3–$5. 

While the market for VVV is somewhat bullish, social media opinions are divided. Some users 

, due to the team's frequent sales of the tokens and the fact that more tokens will be minted. However, other crypto investors believe that strong support from reputable web3 companies, such as Coinbase and Binance Alpha, will lead to a 

. Overall, pricing analysis tools predict a slow yet steady rise. CoinCodex suggests that VVV token prices will 

Looking to trade Venice (VVV) tokens? Bybit now offers the VVV/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 

VVV's essential role in the Venice AI project makes it a coin with potential. There’s a lot of demand for AI models with better security and less censorship, and the unbiased machine intelligence of Venice AI could fill that functionality. Since VVV is needed to access the Venice API, it retains some utility and value outside of market fluctuations. 

However, keep in mind that Venice's tokenomics have come under a lot of scrutiny, due to their inflationary model. The coin's pricing history has also seen some big drops, scaring away investors. This makes VVV slightly riskier than the average crypto startup token. 

Ultimately, investors may want to check out VVV if they want to support Venice, or enjoy working with potentially undervalued coins. However, it's important to remain cautious and use 

 strategies when buying VVV. As always, when investing in any crypto token, 

, and don’t invest more than you can afford to lose.

Right now, there’s a huge demand for open-source AI models that don't have censorship or privacy issues. Therefore, it's no surprise that Venice’s AI platform has already managed to attract a lot of users. Furthermore, Venice offers a secure and unbiased machine intelligence that could make its cryptocurrency token very valuable. Though there have been some ups and downs since the VVV token's release, it's still an intriguing option for investors.

Venice (VVV): Advancing AI with a focus on privacy

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