Month: June 2023

Polygon co-founder proposes zkEVM ‘validium’ upgrade to improve security

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Polygon co-founder Mihailo Bjelic has proposed upgrading the Polygon proof-of-stake (PoS) network to a “zkEVM validium” version, according to a June 20 forum post. If the upgrade is implemented, the new version will rely on zero-knowledge proofs to increase security. HUGE UPDATE ON #Polygon Polygon may go through some huge changes in near future. @MihailoBjelic shared a polygon improvement proposal few hours ago which discussed to upgrade polygon POS to zkEVM Validium. According to the proposal, Polygon POS is facing three key challenges… — Hitesh Malviya (@hmalviya9) June 20, 2023…

New Crypto Exchange Backed by Fidelity, Schwab and Citadel Launches With Additional Investors

One thing that separates EDX Markets from other crypto exchanges is that it doesn’t custody customers’ digital assets. Instead, users will have to go through financial intermediaries to buy and sell crypto assets, similar to how trades are executed on the New York Stock Exchange (NYSE) or the Nasdaq (NASDAQ). Regulators like the different approach, Nazarali said, because they think it’s important that there’s separation between the exchange function and the broker dealer function. Source

EU Commission Brushes Off Data Act Fears by Crypto Industry

The letter, signed by companies such as Fujitsu, Ledger and Ripple and lobbying organizations the European Crypto Initiative and Blockchain for Europe, says that the law would jeopardize smart contracts written on blockchains such as Ethereum, Avalanche, Cardano, NEAR and Polkadot, potentially conflict with recently agreed Markets in Crypto Assets law, and damage the European economy. Source ActbrushesCommissionCryptodataFearsindustry CryptoX Portal

Lack of bipartisan support on crypto regulation could make US ‘less attractive’ to firms: Moody’s

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The investors’ service of credit ratings agency Moody’s has reported that without support from United States lawmakers on both sides of the political aisle for legislation focused on digital assets, investors and companies could turn to other crypto-friendly jurisdictions. In a June 20 report, Moody’s pointed to key differences in the way Democrats and Republicans have handled crypto-focused legislation in the U.S., specifically competing language in a bill on stablecoins and a bill aimed at providing a comprehensive framework for digital assets. Many of the issues between lawmakers concern whether…

What Can You Do With a Blockchain Token That Is Classified as a Security?

In a way, this is likely the clearest example of what you could expect if any token is found to be a security: It will likely be inaccessible to U.S. users, given the current exchange ecosystem, but be available for trading around the world to anyone with a Bithumb, Bitstamp or KuCoin account (and in the U.S., if you have a VPN). Astute readers might note I left Binance – the largest U.S. exchange, by far – off that list. That’s not only because it’s currently being sued by the…

Binance to implement Lightning Network nodes for enhanced Bitcoin transactions

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On June 20, cryptocurrency exchange Binance announced that it had commenced operating nodes on the Bitcoin Lightning Network as a crucial step toward integrating it for deposits and withdrawals. In a tweet, Binance acknowledged users who noticed their new Lightning nodes and confirmed their presence. However, Binance highlighted that additional technical work must be completed before the Lightning integration is fully implemented, promising to provide updates along the way. #Binance is working to integrate the #Bitcoin Lightning Network for deposits and withdrawals. Some eagle-eyed users spotted our new lightning nodes…

Fidelity, Charles Schwab, Citadel and More Back Newly Launched Crypto Exchange

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A group of the biggest financial institutions in the world are backing the newly launched digital asset marketplace EDX Markets (EDX). According to a new press release, the company received a round of funding from financial heavyweights including Charles Schwab, Citadel Securities, Fidelity Digital Assets, Paradigm, Sequoia Capital, and Virtu Financial. The funding will “support EDX as it continues to develop its trading platform and solidifies its market leadership position.” EDX currently only offers trading for four crypto assets: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) –…

The Grayscale Bitcoin Trust is getting a boost from BlackRock. Here’s what to know

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BlackRock’s new push into the battle for a bitcoin ETF appears to be giving a boost to one of its potential rivals in the space and creating an arbitrage play for opportunistic traders. The Grayscale Bitcoin Trust (GBTC) , which has long traded at a steep discount to its net asset value, rose 12.8% on Friday after BlackRock filed to launch a spot bitcoin ETF. The Grayscale fund continued to surge on Tuesday, adding about 14%. While bitcoin has also been climbing , GBTC’s large move has narrowed the discount…

Biden to discuss dangers of AI in San Francisco meeting with experts

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United States President Joe Biden will discuss artificial intelligence (AI) with a group of Silicon Valley experts on June 20 between campaign fundraising stops in California.  The president will meet with at least eight experts, including renowned researchers and experts in AI safety. According to the White House, the topic of discussion will be the Biden administration’s “commitment to seizing the opportunities and managing the risks of Artificial Intelligence.” Per a report from The Associated Press, the attendee list includes Jim Steyer, founder of Common Sense Media; Tristan Harris, co-founder…