V Visa Inc

Grayscale launches fund focused on Aave, boosting token

Grayscale launched the Grayscale Aave Trust, a fund dedicated to the DeFi protocol Aave, providing exposure to the AAVE token (COIN:AAVEUSD) without needing direct purchase. Following the announcement, the AAVE token reached $143.51, despite a 15.3% drop the previous week. The Trust holds $150,000 in assets and aims to simplify AAVE access for institutional and accredited individual investors. Aave is the leading lending platform in DeFi, with a total value locked (TVL) of $20 billion.

Ripple and Mercado Bitcoin launch global payment solution; XRP declines

Ripple partnered with Mercado Bitcoin to launch an international payment solution in Brazil, allowing faster, more efficient transactions, with settlements in minutes, using Ripple’s blockchain technology. Initially targeting institutional clients, the solution will facilitate operations between Brazil and Portugal. The partnership aims to reduce costs and improve customer experience, enabling direct payments in reais. The launch is scheduled for late 2024, marking another step in Mercado Bitcoin’s international expansion.

The XRP token (COIN:XRPUSD) dropped about 12% in the last 24 hours after the SEC filed an appeal notice challenging the favorable decision for Ripple. The sell-off increased due to growing market pessimism, with the current price at $0.517, and a potential return to the two-month low of $0.47. Indicators such as the Relative Strength Index (RSI) and open interest suggest continued selling pressure, pointing to a possible further decline.

Bitcoin ETFs report net outflows of $52.9 million

On October 2, Bitcoin ETFs experienced a net outflow of $52.9 million. Ark’s (AMEX:ARKB) fund saw the largest loss, with $60.3 million in outflows, followed by BlackRock’s (NASDAQ:IBIT), which recorded $13.7 million in outflows. However, Fidelity’s (AMEX:FBTC) fund partially offset the losses with a $21.1 million inflow. Meanwhile, Ethereum ETFs saw a total inflow of $19.8 million, with BlackRock’s (NASDAQ:ETHA) fund adding $18 million.

Bitcoin drops as traders anticipate October recovery

On Thursday, Bitcoin (COIN:BTCUSD) fell to a low of $59,954, pressured by geopolitical uncertainty in the Middle East, currently trading at $60,246.8, down -2.2% in the last 24 hours. Despite the decline, some traders bought the dip, viewing $60,000 as a crucial recovery point. Analysts are divided between further drops or a reversal. While Toni Ghinea targets $56,000, others like CrypNuevo expect a potential recovery with the return of the “Uptober rally,” hoping for a surge by month’s end. Data from CryptoQuant shows whales continue accumulating Bitcoin, signaling optimism for a potential future rise, while rising tensions between Iran and Israel limit risk asset recovery.

Franklin Templeton files for index ETF combining Bitcoin and Ethereum

Franklin Templeton has filed a proposal with the SEC for an ETF combining Bitcoin (COIN:BTCUSD) and Ethereum (COIN:ETHUSD). If approved, the fund will allow investors indirect exposure to both cryptocurrencies without needing to purchase them directly. The ETF, to be custodied by BNY Mellon (NYSE:BK) and Coinbase (NASDAQ:COIN), aims to mitigate digital asset volatility.

Vitalik Buterin proposes lowering minimum staking deposit for Ethereum

Vitalik Buterin suggested in a post on X reducing the minimum staking deposit from 32 ETH to either 16 or 24 ETH to make solo staking more accessible on Ethereum (COIN:ETHUSD). He argues the current threshold is a barrier for many, and reducing it would expand participation. The co-founder also envisions this requirement further decreasing to 1 ETH in the future with network improvements like PeerDAS. The proposal aims to increase decentralization and reduce staking concentration, currently dominated by large providers like Lido.

Aptos Labs acquires HashPalette to expand presence in Asia

Aptos Labs (COIN:APTUSD) announced the acquisition of Japanese NFT provider HashPalette in a strategic move to expand its presence in Asia. HashPalette will become a wholly-owned subsidiary of Aptos, with its Palette Chain migrating to the Aptos Network. This acquisition will enable Aptos to leverage Japanese partnerships and strengthen its support for local developers and creators.

Metaplanet increases Bitcoin reserves with options strategy

Metaplanet, listed in Tokyo, increased its Bitcoin holdings to 530,717 BTC, valued at $32.4 million, after selling 223 Bitcoin put options with a strike price of $62,000. The company generated 23,972 BTC ($1.46 million) through this transaction, collaborating with QCP Capital. CEO Simon Gerovich highlighted that Bitcoin’s volatility offers opportunities to grow their reserves, using options strategies to generate yield without increasing financial risk.

Visa launches VTAP platform for managing digital assets

Visa (NYSE:V) announced the Visa Tokenized Asset Platform (VTAP), developed to facilitate the issuance and management of tokenized assets, such as stablecoins and central bank digital currencies (CBDCs). Currently in testing, with institutions like BBVA participating, the platform will enable banks and institutional investors to issue, transfer, and settle digital assets on public and permissioned blockchains. Visa plans to launch a live pilot in 2025, using the Ethereum blockchain, aiming to efficiently and securely integrate blockchain technology into banking operations.

SWIFT to begin testing digital assets in 2025

SWIFT announced that banks in North America, Europe, and Asia will participate in digital asset testing in 2025. The tests, focusing on transactions involving multiple currencies and digital assets, aim to provide unified access to multiple asset classes. SWIFT seeks to address fragmentation in the digital asset landscape by connecting disparate networks and fiat currencies, facilitating seamless transactions. The goal is to integrate traditional forms of value with new technologies like blockchain and CBDCs into a globally interconnected network.

Binance Labs invests in layer 2 network Sophon

Binance Labs invested in Sophon, a layer 2 network based on ZKsync. The undisclosed investment brings Sophon’s total funding to over $70 million. Sophon aims to create a consumer-focused web3 ecosystem, encompassing applications like gaming, social networks, and ticketing. The Sophon mainnet is set to launch soon, along with its native SOPH token, consolidating its focus on integrated and engaging experiences.

Perfctl: Stealth malware targets Linux servers for crypto mining

According to The Hacker News, perfctl malware is being used to attack Linux servers, conducting crypto mining and proxyjacking stealthily. It exploits the Polkit vulnerability (CVE-2021-4043) to gain root privileges, avoiding detection by masquerading as legitimate processes. The malware operates silently, deleting its binary after execution. Aqua researchers warn it pauses activity when a user is active on the server but resumes when the system is idle. To mitigate the risk, systems should be kept up-to-date, and abnormal CPU spikes should be monitored.