Standard Chartered Slashes Ether Price Target From 10K to 4K + New Ripple Crypto Custody

Securitize and Ethena Launch Converge Blockchain to Bridge TradFi and DeFi

Securitize and Ethena Labs, key players in BlackRock’s BUIDL ecosystem, have introduced Converge, an Ethereum-compatible blockchain designed for tokenized assets and institutional DeFi. Ethena will migrate its $6 billion DeFi ecosystem to the chain, while Securitize will bring its suite of tokenized real-world assets. Converge aims to integrate traditional finance with DeFi innovations, featuring institutional-grade partners and permissioned validators. The blockchain will use Ethena’s ENA token for staking, with USDe and USDtb serving as gas tokens.

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Standard Chartered Slashes Ether Price Target, Warns of Continued Underperformance

Standard Chartered has cut its 2025 year-end price target for Ether (ETH) from $10,000 to $4,000, citing a structural decline in Ethereum’s dominance. The bank notes that Layer 2 networks, particularly Coinbase’s Base, have reduced ETH’s market cap by $50 billion. While tokenized real-world assets could help stabilize the trend, the report suggests Ethereum’s current trajectory will persist unless the Ethereum Foundation takes proactive measures—an unlikely scenario. The bank also predicts the ETH/BTC ratio will drop to its lowest level since 2017 by 2027, despite an expected short-term price recovery.

Ripple Eyes Crypto Custody Expansion With New Trademark Filing

Ripple Labs has filed a trademark application for “Ripple Custody,” signaling plans to enter the growing crypto custody market. The filing suggests potential custodial services for managing digital assets, and hints at a possible Ripple-branded cryptocurrency wallet. This move follows Ripple’s October 2024 launch of a custody service and comes amid speculation that the SEC may soon end its legal battle with the company.

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Trump-Backed DeFi Project Nets $390M in Revenue From Token Sales

Donald Trump and his partners at DT Marks DEFI LLC have earned roughly $390 million from promoting World Liberty Financial’s Ethereum-based DeFi project. The WLFI token sale raised $550 million across two rounds, with Trump entitled to 75% of net revenues. Initially struggling to attract investors, the project surged after Trump’s election victory, drawing backing from figures like Justin Sun. Meanwhile, the SEC has moved to pause its fraud lawsuit against Sun, signaling a potential settlement.

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