This Week in Crypto: Usual Adopts Chainlink Standard, FTX Recovery Trust Settles Lawsuit, and More

This week saw significant advancements in the crypto and blockchain sectors. In order to improve its stablecoin ecosystem, Usual adopted the Chainlink Standard to help provide, liquidity, security, and transparency. At the same time, FTX Recovery Trust settled an entire law suit with K5 Global along with giving stakeholder compensation. This is a key step in FTX’s recovery plan and initial distributions are expected to begin in the coming weeks.

This week saw several key developments in the crypto and blockchain sectors.

In a bid to enhance its stablecoin ecosystem, Usual adopted the Chainlink Standard to improve its liquidity, security, and transparency.

At the same time, FTX Recovery Trust settled a lawsuit with K5 Global to pave the way for stakeholder compensation. This forms a crucial part of FTX’s recovery plan, with initial distributions set to begin in the coming weeks.

Additionally, Virtuals Protocol unveiled its Prototype-2-Sentience (P2S) program to support early-stage AI projects with liquidity, aiming to help up-and-coming ventures get noticed.

In other news, Tether claimed the top spot for crypto revenues during the past 30 days, earning a total of $529 million.

Last but not least, Alchemy Pay integrated $MOVE to enable seamless fiat-crypto transactions. Such developments provide a testament to the rapid growth and increasing opportunities within the blockchain industry.

Usual Adopts Chainlink Standard for Enhanced Stability, Transparency

This week, Usual, a decentralized stablecoin protocol, adopted the Chainlink Standard to enhance its ecosystem. The integration seeks to enhance the liquidity and utility of its native stablecoins, $USD0++ and $USD0.

By doing so, Usual incorporated Chainlink’s Data Feeds, Proof of Reserve, and CCIP. These features of tokenized asset can assist in addressing the key challenges in the tokenized asset sector through providing secure and reliable price data. Accurate asset pricing and an added strength to Usual’s ecosystem is provided through the integration. Using Chainlink’s trusted infrastructure, Usual increases transparency, security, and efficiency for their users.

FTX Recovery Trust Settles Lawsuit with K5 Global

FTX Recovery Trust and Future Travel Experience Trading Ltd. reached a settlement with K5 Global to resolve legal disputes arising from the FTX group's collapse. This deal marks a significant step in the overall recovery process.

John J. Ray III, the CEO of FTX Recovery Trust, highlighted its importance, stating that stakeholders will be able to recover losses through K5 Global’s investments. K5 co-founders also expressed their gratitude for FTX's professionalism during its negotiations.

Meanwhile, FTX's Chapter 11 reorganization plan came into effect on January 3 of 2025. Claim holders will actually be awarded the first distribution in 60 days. Payouts are also subject to meeting KYC and other requirements by claimants.

Virtuals Protocol Launches P2S Program to Support AI Projects

Virtuals Protocol introduced the Prototype-2-Sentience (P2S) Program to provide liquidity for early-stage AI projects. This program provides resources to leading AI developers in a way that resembles how the central bank helps the economy. Moreover, it aims to provide financial support that helps projects achieve their development scheduled targets.

Many intelligent AI teams have problems because they work on small budgets and cannot be seen clearly. Virtuals Protocol works with many project requesters but can help only a fraction of them. Some teams have trouble showing their projects to customers which prevents them from getting investment funds. For this problem, Virtuals Protocol implemented the P2S program.

Tether Leads Crypto Revenue with $529M in the Last 30 Days

Tether (USDT) led the crypto market with the highest revenue of $529 million in the last 30 days. The company makes money through various sources: interest paid on bank reserves plus trading payments and investment returns. Raydium ranked at number two and produced $298 million from trading activities on its platform.

JTO earned $271 million as its third-place ranking by generating money from Solana’s liquid staking protocol. Meteora earned $177 million from trading fee operations. Circle (USDC) received $149 million total from earning interest while doing business. Both Uniswap and PancakeSwap earned equal trading fees of $148 million. Besides PancakeSwap, Pump.fun, Lido, Photon, and Aave also generated substantial amounts of revenue totaling $304.9M. Besides the largest platforms this list includes revenues from BullX, Sky, Orca, and Ethena each making more than $37 million.

Alchemy Pay Integrates $MOVE for Seamless Crypto Transactions

Alchemy Pay, a leading fiat-crypto payment gateway, integrated $MOVE, the native token of Movement Network. Users can now quickly purchase $MOVE with Visa and MasterCard as well as other payment methods and bank transfers. The system update makes $MOVE products available to more users across safe and accessible payment options.

Alchemy Pay helps people purchase crypto because its security and compliance standards work perfectly for traditional users. The system simplifies the transaction process for regular crypto users entering this new market. Movement Network works to improve the speed and protection of blockchain operations on its established safe and scalable system. The availability of substantial amounts of money helps developers work on their blockchain projects easier and faster.