The London Stock Exchange (LSE) has taken a step by announcing in a press release its plan to accept applications for Bitcoin and Ethereum exchange-traded notes (ETN) from Q2 2024. Application Process and Guidelines Set to announce the precise launch date soon, the LSE has outlined the operational framework through a detailed crypto ETN factsheet. This initiative targets professional investors, specifying unique trading segments for the ETNs and offering a structured entry into digital asset trading. Emphasizing security, the LSE mandates that a significant portion of the ETN underlying crypto assets be secured in cold storage. This measure, coupled with…
Author: Rea K.
Vitalik Buterin recently tackled the hot-button issue of quantum computing’s threat to the Ethereum network. On March 9, Buterin took to Ethereum Research, sharing insights on a so-called “quantum emergency.” He painted a picture of a future where quantum computing could enable attackers to steal Ethereum assets on a large scale. His response? A plan aiming to safeguard users with minimal fuss. Buterin’s strategy pivots on a hard fork of the Ethereum network. This decisive action would rewind the network to a pre-theft state. For users, this means adopting new wallet software, tailored to fend off such futuristic attacks. The…
Unizen, a leader in decentralized finance, has taken a proactive stance following a security breach. This breach led to a substantial loss of $2.1 million from its users’ funds. On March 9, blockchain security firms PeckShield and SlowMist identified the breach. They played pivotal roles in uncovering and evaluating the incident’s scope. PeckShield was the first to spot a critical “approve issue,” which revealed the theft of over $2 million from the platform. SlowMist’s thorough investigation pinpointed the losses at approximately $2.1 million. They found that the attacker converted the stolen funds from Tether (USDT) to Dai (DAI) through a…
Mudrex, the crypto investment firm from California with Y-Combinator’s support, plans to offer U.S. spot Bitcoin ETFs to India’s investors. Both institutional and retail segments in India will benefit from this innovative service. Edul Patel, Mudrex CEO and co-founder, emphasizes the significant advantage this service provides, especially to institutional clients. The introduction of four spot ETFs marks Mudrex’s initial step into this new offering. The ETFs come from leading firms like BlackRock, Fidelity, Franklin Templeton, and Vanguard. Mudrex operates in the European Union, holding licenses in Lithuania and Italy, and extends its services through a subsidiary in India registered with…
Binance launched a perfume named “CRYPTO” targeted for women. This marketing strategy, aimed at encouraging female participation in the cryptocurrency sector, has sparked a significant backlash. Critics accuse Binance of sexist marketing by leveraging gender stereotypes to appeal to women. This comes at a time when the crypto industry, much like the broader tech sector, is grappling with issues of gender disparity. Marketing Gone Wrong? While the concept of creating non-crypto related merchandise is not new to the cryptocurrency industry, Binance’s decision to introduce a women’s fragrance is a first. Companies in this space have previously marketed products like Bitcoin…
The U.S. Securities and Exchange Commission (SEC) has pushed back its decision on authorizing options for spot Bitcoin Exchange-Traded Funds (ETFs). This follows the approval of Bitcoin-backed funds by nine issuers, notably leaving out Grayscale’s GBTC. The focus is now on two pending requests, including one from BlackRock’s iShares Bitcoin ETF (IBIT), as presented by Nasdaq. Nasdaq submitted the application for IBIT in January, riding on the momentum of previous approvals for entities like BlackRock, Fidelity, and ARK 21Shares. The request seeks to enable options trading on this novel ETF. Already, the SEC has opened the floor for public comments…
Gemini, a leading crypto exchange, explored merging with crypto broker Genesis. This strategic move aimed to forge a powerful alliance capable of competing against giants like Coinbase and FTX. The concept took root in October 2022 during a meeting between Gemini co-founder Cameron Winklevoss and Digital Currency Group (DCG) CEO Barry Silbert. They envisioned a merger that could transform the crypto landscape into a competitive arena. “I put him on clear notice that the path we’re on right now could lead to a Genesis bankruptcy, which would put Gemini’s deposits (and therefore, Gemini’s business) at significant risk. He took that…
U.S. legal authorities are pushing for the extradition of Terraform Labs’ former CEO, Do Kwon, from Montenegro. This move follows a Montenegrin high court’s ruling, which has sparked an appeal from the U.S. prosecutors. They aim to bring Kwon to the U.S. for trial. The case involves multiple jurisdictions, including South Korea, which also seeks Kwon’s extradition. The U.S. Department of Justice (DOJ) is acting in accordance with international laws and agreements. They appreciate Montenegro’s adherence to legal protocols. This extradition battle has seen twists, with a recent court decision favoring Kwon’s transfer to the U.S. overturned. It cited procedural…
The Optimism Foundation, known for its commitment to fostering ecosystem projects and infrastructure development, has embarked on a substantial private token sale. The sale involves a hefty 19.5 million OP tokens, which constitutes a significant portion of its initial token supply dedicated to operational budgets. On March 7, the foundation made headlines with its announcement through a community forum post. The sale, valued at an impressive $89.5 million, marks a pivotal moment for the foundation. Despite the substantial nature of this transaction, details about the buyer and the specific terms of the agreement remain under wraps. The foundation has chosen…
BlackRock, the asset management powerhouse, seeks SEC endorsement to integrate spot Bitcoin exchange-traded funds into its Global Allocation Fund, MALOX. The company’s recent SEC filing on March 7 reveals plans to invest in physically-backed Bitcoin exchange-traded products (ETPs). This includes its iShares Bitcoin Trust (IBIT) and similar products from other issuers. BlackRock aims to allow direct Bitcoin investment via national securities exchanges. Founded in 1989, the BlackRock Global Allocation Fund targets investment returns through a diversified mix of equity, debt, and money market securities globally. With assets totaling $17.8 billion, the fund includes investments in leading companies like Microsoft and…