Friend.Tech Fees Soar, Deutsche Bank Dives into Crypto Custody

After a week of economic data releases supporting a potential reacceleration of inflation, US Treasury yields are rising across the board, while US equity markets are declining. The SPY and QQQ have dropped 1.26% and 1.82%, respectively, at the time of writing. Crypto markets are performing similarly, with BTC (-0.94%) trading at $26.3k and ETH (-0.65%) faring slightly better, holding around the low $1,600s. Although many had written off the new social platform friend.tech, the platform has seen a resurgence in activity. Over the last 24 hours, friend.tech has accumulated the third most platform fees among all protocols, surpassing well-established projects such as Lido and Uniswap. It will be interesting to monitor the platform’s usage, given its high level of volatility in recent weeks.