Day: June 19, 2023

Hinman Documents Could Boost Ethereum and Improve Decentralization 

In a report published June 15, JPMorgan’s analyst Nikolaos Panigirtzoglou said that SEC officials were unsure of Ethereum’s legal status in 2018. Leading American financial services company JPMorgan has highlighted the significant impact of the release of the Hinman documents on Ethereum in an ongoing court case between the United States Securities and Exchange Commission (SEC) and blockchain firm Ripple Labs. According to reports, Hinman’s documents, which include emails tied to former SEC Director William Hinman’s 2018 speech regarding Ethereum (ETH) regulatory status, can potentially boost the second-largest crypto asset…

UK Financial Watchdog FCA Cancels Binance Permissions on Firm’s Request

“As these permissions were unlikely to be required in the future, Binance Markets Limited decided that it would be prudent to cancel them in line with the FCA’s recommendations to keep these updated,” the spokesperson for Binance said. “This decision has no impact on Binance.com, which does not own or operate any crypto services in the U.K. and is only available to U.K. consumers on a reverse solicitation basis.” Source

Kenny Schachter reflects on blockchain art’s past, present and future

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With crypto in a state of turbulent flux, a demographic of nonfungible token (NFT) detractors in the fine art world might feel trigger-happy to, at last, declare the industry down for the count.  Meanwhile, artist, critic, dealer, educator and outspoken NFT proponent Kenny Schachter is celebrating the conclusion of Slow Food — his first New York City art exhibition in 25 years — at The NFT Gallery on Manhattan’s Lower East Side, fresh off the heels of headlining NFT Art Day ZRH in Zurich, Switzerland, coinciding with the iconic annual…

IMF Presents Blueprint for Cross-Border Payments with CBDC Platform

“Our blueprint for a new class of platforms would enhance and ensure greater interoperability, efficiency, and safety in cross-border payments, as well as in domestic financial markets,” Adrian said in a speech given in Rabat, Morocco. “The cost, sluggishness, and opacity of cross-border payments comes from limited infrastructure.” Source

Ethereum’s zkSync Era reaches $500m in TVL

Ethereum’s Layer 2 scaling solution, zkSync Era, sees its total value locked (TVL) exceed $500 million as increased scalability continues to attract significant capital investment. In decentralized finance (DeFi), the balance of power constantly ebbs and flows with the rise of innovations.  One such advancement is zkSync Era, a Layer 2 protocol that enhances the scalability of the Ethereum (ETH) blockchain.  Recently, the total value locked (TVL) in zkSync Era surpassed $500 million, representing a 12% increase within a week, as indicated by data from L2Beat.  zkSync Era TVL chart…

Ethereum validators may have to stake 64X more ETH, devs discuss

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Ethereum core developers plan to implement a 64-fold increase in the minimum amount of staked Ether (ETH) required to become a validator, from 32 ETH to 2048 ETH. The proposal was made during a June 15 Ethereum core developer consensus meeting by Ethereum Foundation researcher Michael Neuder. The researcher noted that although the current limit of 32 ETH allows more validators to join the Ethereum network, making it more decentralized, it also leads to an inflation of the validator set size. Neuder added that such a large increase would ultimately help…

BlackRock Files for a Spot Bitcoin (BTC) ETF

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Bitcoin held steady over the weekend, with altcoins continuing to lag behind. Bitcoin traded between $26,200 and $26,300 and ether, starting the weekend around $1,700, remains the same. Altcoins, however, underperformed bitcoin and ether, with Chainlink’s LINK, Cosmos’ ATOM and NEAR Protocol’s NEAR all losing 3% over the last 24 hours. U.S. markets are closed today, with the New York Stock Exchange and the Nasdaq Stock Market shut in observance of Junteenth. Original