In crypto news today, Ethena Labs and Germany’s BaFin have agreed on a 42-day USDe redemption plan, ending a protracted regulatory conflict. The German regulator has initiated a process allowing USDe stablecoin holders until August 6 to file redemption claims against Ethena GmbH. Following this, Ethena GmbH will be officially wound up. Meanwhile, Polymarket, a blockchain prediction market platform, is reportedly aiming to raise $200 million in funding, which could value the company at around $1 billion. This funding round is led by billionaire investor Peter Thiel's Founders Fund, and Polymarket has previously seen considerable success, especially during the U.S. elections. Lastly, New York City Mayor Eric Adams has criticized former Governor Andrew Cuomo’s regulatory approach, claiming it harmed the state's crypto industry during his tenure. Adams aims to promote pro-crypto policies, having previously accepted his paychecks in Bitcoin and advocating for services to be paid via digital assets.

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