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.
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