Lazard to Create Tokenized Funds; Hack Exposes Vulnerability in Base Blockchain, and More
25 Outubro 2024 - 3:42PM
IH Market News
Lazard bets on asset tokenization with Bitfinex and SkyBridge
Lazard (NYSE:LAZ), a 175-year-old asset manager, has signed an
agreement with Bitfinex Securities and SkyBridge Invest to create
tokenized funds regulated by the Astana Financial Services
Authority in Kazakhstan. Bitfinex will manage tokenization, while
SkyBridge will oversee fund management and brokerage. These
products will provide retail access to previously
institution-exclusive funds focused on global and emerging
markets.
$1 million theft on Base blockchain reveals security flaws
An unverified loan contract exploit on the Base blockchain led
to a $1 million theft. The attacker manipulated the Wrapped Ether
(WETH) price using a low-liquidity oracle, diverting funds to
Ethereum and Tornado Cash. Cyvers Alerts experts suggest that
stronger oracles and rigorous contract security checks could
prevent similar attacks on DeFi platforms.
North Korean hackers steal $3 billion through fake blockchain game
Kaspersky Lab reported that the Lazarus Group, a North Korean
hacker group, stole $3 billion in crypto through a fake blockchain
game. Exploiting a zero-day vulnerability in Google Chrome, they
breached wallets via malware. This operation, active from 2016 to
2022, involved laundering $200 million in cryptocurrency.
Spot Bitcoin ETFs attract capital with continued focus on IBIT
On October 24, Bitcoin ETFs recorded net inflows of $188.11
million. BlackRock’s iShares Bitcoin Trust (NASDAQ:IBIT) led with
$165.54 million, totaling $23.69 billion in cumulative inflows
since October 14. Bitwise Bitcoin ETF (AMEX:BITB) attracted $29.63
million, while Grayscale Bitcoin Trust (AMEX:GBTC) saw $7.05
million in outflows. Ethereum ETFs marked their third day of
positive flows, with iShares Ethereum Trust (NASDAQ:ETHA) drawing
$2.3 million.
Satoshi-era miner moves 2010 Bitcoin, suggesting possible sale
An anonymous Satoshi-era miner moved a portion of their 50 BTC
rewards mined in 2010, sending 2.99 BTC to a new wallet and the
remainder to a change wallet. Arkham Intelligence data reveals that
the new wallet transferred $1.5 million to exchanges, including OKX
and Coinbase, indicating a possible sale. Despite the activity, the
miner is unlikely to be Satoshi based on network transaction
analysis.
MicroStrategy shares surge with Bitcoin investment
MicroStrategy (NASDAQ:MSTR) reached a 25-year high in stock
price, hitting $241.2, driven by its significant Bitcoin investment
strategy since 2020. This approach has outperformed major
corporations, including Microsoft (NASDAQ:MSFT). With current
Bitcoin holdings valued at $17 billion, MicroStrategy remains the
largest corporate holder of BTC, propelling its market cap to $46.8
billion.
Metaplanet sees 116% gains with Bitcoin accumulation
Tokyo-listed Metaplanet achieved a 116% shareholder return in
October, boosted by its substantial Bitcoin purchases. The company
acquired over 450 BTC this month, raising its holdings to 855.5
BTC, valued at $56.1 million. Inspired by MicroStrategy, Metaplanet
introduced “BTC Yield” as a KPI, calculating stock appreciation
based on Bitcoin holdings, providing quarterly updates on BTC’s
impact for shareholders.
JPMorgan views stablecoins as superior to tokenized treasuries
JPMorgan (NYSE:JPM) suggests that tokenized treasury bonds are
unlikely to fully replace stablecoins. While they may absorb some
idle funds, tokenized treasuries face regulatory disadvantages and
lower liquidity compared to stablecoins. With a $180 billion
market, stablecoins offer high liquidity and low fees, favoring
ongoing trades. Bank analysts believe tokenized treasuries may only
replace a fraction of stablecoins due to these limitations.
Ripple challenges SEC’s decision on institutional XRP sales
Ripple Labs filed an appeal with the U.S. Court of Appeals,
disputing the SEC’s decision classifying its institutional XRP
(COIN:XRPUSD) sales as securities transactions. Ripple’s chief
legal officer, Stuart Alderoty, confirmed that the appeal prevents
the SEC from presenting new evidence or demanding more documents.
Ripple argues that the court misapplied the Howey test in
determining these transactions’ nature. This follows an earlier
ruling that deemed XRP non-securities in programmatic sales on
exchanges.
Fireblocks launches $1 million grant for projects using stablecoin
PYUSD
Fireblocks announced a $1 million grant program to support
companies developing blockchain projects using the PayPal USD
stablecoin (COIN:PYUSDUSD). Selected projects can receive up to
$60,000 each, encouraging the development of innovative payment
solutions.
South Korea prepares crypto rules for international transactions
South Korea’s Ministry of Finance will implement cryptocurrency
regulations for international transactions by the end of 2025.
Korean companies facilitating cross-border digital transactions
must register and report monthly to the Bank of Korea. The new
framework categorizes virtual assets separately from traditional
exchange and payment systems, identifying them as a “third type” of
asset. This aims to safeguard the market from illicit activities,
enhancing security in the digital asset sector.
Netherlands proposes tax transparency for crypto services
The Netherlands has opened a consultation on a bill requiring
cryptocurrency services to share user data with tax authorities. In
response to the European Union’s DAC8 directive, the measure seeks
to enhance transparency and combat tax evasion. State Secretary
Folkert Idsinga states that data sharing will facilitate EU
countries’ cooperation. The public consultation ends on November
21, with the bill expected to reach Parliament in 2025.
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