Author: NBTC

Ethereum experienced a rare slashing event on Wednesday, with 39 validators penalized, according to blockchain explorer Beaconcha.in. The validators were tied to the SSV Network, a distributed validator technology (DVT) protocol that decentralizes staking infrastructure by splitting validator keys across multiple operators. Despite the scale of the incident, SSV founder Alon Muroch emphasized that the protocol itself was not compromised. Instead, the penalties stemmed from operator-side infrastructure issues involving third-party staking providers using SSV. One cluster of slashed validators was tied to Ankr, a liquid staking provider. According to Muroch, routine maintenance on Ankr’s systems triggered the event. A second…

Standard Chartered has released a new report on the role of digital asset treasuries (DAT) in the cryptocurrency market. Geoffrey Kendrick, the bank’s global head of digital asset research, said that Ethereum would benefit more from acquisitions by DAT companies than Bitcoin and Solana. According to Kendrick’s data, DATs currently hold 4% of all Bitcoin, 3.1% of Ethereum, and 0.8% of Solana. This size means the success or failure of treasuries could have a significant impact on coin prices. Kendrick noted that the primary reason for the recent valuation squeeze for DATs is market saturation. He said the success of…

U.S. Securities and Exchange Commission Hester Peirce has denied endorsing private cryptocurrency projects or cryptocurrency firms. This comes after OpenVPP, a cryptocurrency project that is meant to streamline the electric utility sector with blockchain, announced that it was working “alongside” Peirce on the tokenization of energy. The project also attached a photo of Peirce and OpenVPP CEO Parth Kapadia, which was ostensibly meant to signal some sort of endorsement. The social media post clearly has a promotional spin. I welcome the chance to meet with crypto projects to hear from them about their regulatory challenges, but I do not “work…

In this post: Bybit has signed an MOU with Da Nang’s People’s Committee and other partners to support Vietnam’s digital asset development. The agreement aims to establish Da Nang as an international financial center by providing market liquidity and a secure financial infrastructure. The partnership follows previous talks between Bybit and Vietnam’s Ministry of Finance on regulatory sandboxes. Bybit has signed a Memorandum of Understanding (MOU) with Da Nang’s People’s Committee, Abu Dhabi Blockchain Center (ADBC), and Verichains Network Security Company. The partnership aims to establish Da Nang as an international financial and innovation center. Da Nang is one of…

Ripple CEO Brad Garlinghouse is wondering why major firms such as Amazon are still yet to adopt blockchain solutions, including the XRP Ledger. Instead, he observed that it is not a matter of whether it should be adopted but when. This is when XRP is getting the attention of such huge investors. Institutional inflows to XRP reached up to $32.5 million in the past week only. It makes XRP one of the most appealing assets to the financial companies at the moment. Why Legal Clarity Turned the Game Ripple eventually paid off the legal tussle it had with the U.S.…

The U.S. Security and Exchange Commission has delayed its decisions on the addition of staking to BlackRock’s iShares spot Ethereum exchange-traded fund, and on Franklin Templeton proposals for separate funds tracking the performance of Solana and XRP, according to filings the agency submitted Wednesday. The SEC extended its deadline for addressing a rule change request by the Nasdaq exchange for staking in the iShares Ethereum Trust (ETHA) to October 30, a 45-day postponement from its original schedule. It also pushed back its decision on similar 19b-4 filings by Cboe that would allow the listing of the Franklin Templeton Solana ETF…

Contrary to claims from the U.S. banking industry, stablecoins do not pose a risk to the financial system, according to the chief policy officer at crypto exchange Coinbase (COIN), Faryar Shirzad. Banks’ claims that they do are are myths crafted to defend their revenues, he wrote in a Tueday blog post. “The central claim — that stablecoins will cause a mass outflow of bank deposits — simply doesn’t hold up,” Shirzad wrote. “Recent analysis shows no meaningful link between stablecoin adoption and deposit flight for community banks and there’s no reason to believe big banks would fare any worse.” Larger…

The U.K.’s Financial Conduct Authority (FCA) has plans to waive some of its rules for cryptocurrency companies, according to a Financial Times (FT) report on Wednesday. However, in another areas the FCA intends to tighten the rules where they pertain to industry-specific risks, such as cyber attacks. The financial watchdog wishes to adapt its existing rules for financial service companies to the unique nature of cryptoassets, the FT reported, citing a consultation paper published Wednesday. “You have to recognize that some of these things are very different,” David Geale, the FCA’s executive director for payments and digital finance, said in…

The financial world is constantly evolving, and a major player is stepping up to shape its future. Hanwha Investment & Securities is making significant waves by kicking off a groundbreaking digital asset platform designed to enable seamless on-chain trading. This move signifies a strategic leap into the burgeoning world of blockchain technology, promising a new era of digital finance for investors. What Does Hanwha’s Digital Asset Platform Mean for Investors? Hanwha Investment & Securities, a prominent South Korean financial institution, has officially begun developing its comprehensive digital asset platform. This initiative is not just about offering crypto; it’s about building…

DefiLlama, which is among the most reliable DeFi analytics tool, has begun to monitor Ember Protocol on the Sui Network. It is a major step towards the two characters, Ember and Sui, because the addition of DefiLlama is usually an indication of a sense of credibility and increased usage. It is tracked that the total value locked (TVL) of Ember Protocol is 13.72 million. Although this is less than giants in Ethereum, this indicates high initial interest in the project. What is Ember Protocol? Ember Protocol is a vault platform that is organized. Non-custodial, permissionless vaults are operated by curators.…