VanEck prepares to launch Ethereum futures ETF
Asset manager VanEck, with a $77.8 billion portfolio, plans to
launch the VanEck Ethereum Strategy ETF (EFUT), focused on Ethereum
futures, amid growing demand for Ethereum-based funds
(COIN:ETHUSD). EFUT will invest in ETH futures contracts,
settled in cash and traded on exchanges registered with the CFTC,
and will be listed on the CBOE, following the movement of other
entities seeking to capitalize on the growing interest in
cryptocurrency ETFs, especially those linked to ether.
Mariana Project successfully tests digital currencies between
Central Banks
The Bank for International Settlements (BIS), together with
central banks from France, Switzerland and Singapore, have
successfully completed cross-border trials of trading using
wholesale central bank digital currencies (wCBDC) under the Mariana
Project. Using blockchain, the project employed fictitious
wCBDCs to simulate transactions between financial institutions,
validating the viability of CBDC exchanges in international
scenarios. The results highlight the potential of
decentralized finance and smart contracts in modernizing global
financial infrastructure.
Kraken plans expansion into stock and ETF trading in US and UK
Kraken, a well-known cryptocurrency exchange, has plans to offer
trading in US-listed stocks and ETFs, as reported by Bloomberg
News. The intention is to launch this service by 2024 through
a new division, Kraken Securities, in the United States and the
United Kingdom. The company has already obtained the necessary
authorizations in the United Kingdom and has applied for a
regulatory license in the United States.
Coinbase leverages global expansion with perpetual futures approval
in Bermuda
Coinbase (NASDAQ:COIN) has obtained authorization from the
Bermuda Monetary Authority (BMA) to provide perpetual futures to
non-U.S. consumers. Qualified users will have access to this
modality in the coming weeks. This service aims to reach a
significant segment of the market, as derivatives trading makes up
around 75% of global cryptocurrency transaction volume. This
step reflects Coinbase’s commitment to being a driving force in
renewing the global financial system, providing greater economic
freedom globally.
Crypto.com partners with PayPal and Paxos to enhance trading
platform
Singapore-based exchange Crypto.com has partnered with PayPal
(NASDAQ:PYPL) and Paxos to become a priority platform for PayPal
USD (COIN:PYUSDUSD). According to a September 28 release,
Crypto.com now holds the largest global liquidity for PYUSD trading
pairs, having listed PYUSD for retail and institutional clients and
planning to introduce trading functionality soon. This
initiative expands the previous collaboration between PayPal and
Crypto.com, allowing the use of PayPal to add funds to the
Crypto.com Visa card.
BitMEX plans to convert digital assets into US dollars
Crypto derivatives platform BitMEX plans to convert up to $100
million of its digital assets, including Tether (COIN:USDTUSD) and
Ethereum (COIN:ETHUSD), into US dollars, according to a September
28 announcement. The conversions, part of a multi-week fund
reallocation process, will be held in custodial accounts with
undisclosed banking partners. BitMEX ensures that such
transactions will not impact users’ trading activities, positions
or withdrawals. BitMEX’s insurance fund serves as crucial
protection against insolvency.
Gemini refutes allegations of misuse of user funds
In response to a New York Post article, cryptocurrency exchange
Gemini denied allegations that it had improperly withdrawn US$282
million of user funds, stating that such amount was moved to
bolster its liquidity reserves amid market instability in August
2022. The company characterized the information in the article as
“misleading” and “fanciful”, clarifying that the financial movement
was a risk management measure, aimed at minimizing users’ exposure
to Genesis after the withdrawal of redemptions in November 2022
.
Bitfinex and Zodia Custody enter into strategic partnership to
improve security in crypto trading
Bitfinex has teamed up with Zodia Custody to offer a safer and
more efficient trading experience for its institutional
clients. The collaboration allows users to trade on the
Bitfinex platform while keeping their assets protected by Zodia’s
off-exchange settlement solution, Interchange. This
integration eliminates the need for actual asset transfers by
consolidating trading activities directly on the blockchain, and
highlights Bitfinex’s ongoing commitment to promoting the security
and integrity of the digital asset market.
Binance clarifications on the sale of CommEx
The sale of Binance’s Russian unit, CommEx, attracted
significant attention, prompting CEO Changpeng Zhao to clarify
issues via HUH. Zhao emphasized that he is not the ultimate
beneficiary of the sale and that operating in Russia was
inconsistent with Binance’s compliance strategy, highlighting the
company’s ongoing efforts to ensure user protection and trust in
the platform.
Central Bank of Brazil steps up supervision of cryptocurrencies as
adoption grows
The Central Bank of Brazil is reinforcing regulations and
intensifying monitoring of cryptocurrency platforms due to the
growth in the adoption of crypto assets in the
country. Roberto Campos Neto, governor of the bank, revealed
that there was a 44.2% increase in “cryptocurrency imports” by
Brazilians from January to August 2023, totaling around US$7.4
billion. Neto signaled that many of these transactions may be
associated with tax evasion and illicit activities, highlighting
the need for stricter supervision. Furthermore, he mentioned
the growing interest in stablecoins for payments in the country and
discussed the advances of the Central Bank’s own digital real
pilot.
Buenos Aires pioneer in digital identity with QuarkID protocol
The government of Buenos Aires is implementing QuarkID, an
innovative decentralized digital identity protocol based on Matter
Labs’ zkSync Era blockchain technology. From October,
residents will be able to request essential documents such as birth
and marriage certificates while maintaining full control over their
data. This advancement puts Buenos Aires at the forefront of
blockchain technology adoption in Latin America, with future plans
to expand QuarkID to include more services and reach 2.5 million
citizens by the end of the year.
IOTA introduces smart contracts and token on its new blockchain
network, ShimmerEVM
IOTA is about to launch its first public IOTA Smart Contracts
(ISC) and an associated token, through ShimmerEVM, a parallel,
Ethereum-compatible blockchain, as reported to
CoinDesk. ShimmerEVM, part of the Shimmer ecosystem, launched
in 2022, offers developers the ability to create applications and
explore functionalities not yet available on the IOTA
mainnet. This development could broaden interest in IOTA,
allowing applications from other networks to run with minimal or no
adjustments to the original code.
The powerful growth of Ethereum: Fusion, staking and future
challenges
Ethereum’s The Merge update marked one year, symbolizing a
revolution in the field of staking, with its market value reaching
$200 billion. Staking has proven to be a valuable strategy,
generating considerable rewards and enabling resilience in bear
markets. Challenges such as latency exist, but the increase in
the number of validators and addresses suggests a promising future
for Ethereum (COIN:ETHUSD), with continued innovations and
improvements anticipated to further increase its accessibility,
flexibility, and appeal in the blockchain ecosystem.
Ledn expands portfolio with Ether yield option
Ledn, a lending platform with an initial focus on Bitcoin
(COIN:BTCUSD), has introduced a new Ether (COIN:ETHUSD) yield
option in response to users’ desire for safe alternatives to
manual staking. This addition complements its existing
offerings by enabling interest earnings on different
cryptocurrencies and stablecoins. This new feature aims to
facilitate earnings in ETH, eliminating the need for manual
management through staking pools. It is worth mentioning that
Ledn’s innovations occur in a context where other similar companies
have faced significant failures.
Fireblocks integrates Tezos to boost DeFi services
Fireblocks, a platform focused on cryptocurrency custody and
settlement services, has incorporated support for the Tezos
network, providing users with secure asset storage on Tezos and
access to its decentralized applications. This integration
promises to re-energize Tezos’ decentralized finance (DeFi)
activity, offering developers secure and efficient mechanisms to
create services and products. The initiative also facilitates
institutional participants’ access to dApps and Tezos (COIN:XTZUSD)
tokens, while enhancing security and efficiency in managing
cryptographic assets.
Tottenham Hotspur adopts blockchain technology to engage fans with
tokens
Tottenham Hotspur has ventured into the blockchain universe by
announcing the issuance of its own fan token via the Socios.com
platform. With this initiative, Spurs seek to maximize
engagement and provide exclusive rewards to their fans. The
new technology will allow token holders to actively participate in
voting on different aspects of the club and access unique prizes
and experiences.
Sam Bankman-Fried, former CEO of FTX, awaits trial in detention
Former FTX CEO Sam Bankman-Fried, known as SBF, will remain in
detention until the start of his trial on October 3, as ruled by
Judge Lewis Kaplan. Despite appeals from his defense, he was
denied pre-trial release due to concerns about possible escape and
allegations of witness intimidation.
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