Author: News Room
Tether has released a plan to safeguard its stablecoin USDT in the event that the blockchains it operates on become unresponsive. According to a new press release, Tether is making improvements to increase both blockchain resilience and user protection in a worst-case scenario type of event. Because USDT is used on so many different blockchains, Tether says a “blockchain recovery plan” is necessary if any USDT transactions are disrupted. With such a plan in place, Tether aims to avoid any user disruption and maintain USDT accessibility. “Tether is a lifeline for hundreds of millions of users across the globe. Tether is…
Avail, a blockchain infrastructure project, raised $27 million in its seed funding round led by notable venture capital firms Founders Fund and Dragonfly, according to a Feb. 26 statement shared with CryptoSlate.The raised capital will fuel the development of Avail’s three fundamental products: Data Availability (DA), Nexus, and Fusion. These components, forming what it terms the “Avail Trinity,” are poised to expedite the integration of web3 networks.Anurag Arjun, co-founder of Avail, elucidated that the project lays the groundwork for a cohesive future in Web3 by constructing a unified framework where platforms operate in unity rather than isolation.Arjun said:“Rollup tooling will…
Core Blockchain development company ARAX and bond issuer Longevity Capital Company (LCC) have partnered to introduce a blockchain-based solution for the life insurance settlement investment sector.Aiming to redefine the life settlement bond market, ARAX and LCC have unveiled a collaboration that has led to the creation of a tokenized fractional life settlement bond platform, aiming to enhance transparency and democratize access to what has traditionally been an investment avenue for large institutional investors.Life settlements are financial arrangements where the owner of a life insurance policy sells it to a specialized buyer (often a company or investor) for a lump sum…
Over 15 years ago, Satoshi invented the world’s first independently managed, self-operating financial system through cryptography. He aspired to push us all into a financial renaissance where our aging financial system would be replaced with one that favors no one entity or being. A fully transparent financial system that’s open 24 hours a day, seven days a week, so that anyone can track fund flows on the blockchain.And while this value proposition alone is more than sufficient to migrate from our legacy financial systems, Satoshi’s greatest breakthrough with the invention of blockchain and crypto is how a user accesses this…
The chances of approval for the pending spot Ethereum exchange-traded fund (ETF) applications this May are strained as two US Senators urged the Securities and Exchange Commission (SEC) to reject other crypto ETF proposals. In the March 11 letter to SEC Chair Gary Gensler, Senators Jack Reed and Laphonza Butler advised the financial regulator to tighten its scrutiny of Bitcoin ETFs. Lawmakers urge SEC to halt other crypto ETF approvals The lawmakers raised concerns about approving additional crypto ETFs beyond Bitcoin, citing potential risks for retail investors. They argued that other cryptocurrencies, like Ethereum, lack sufficient trading volumes and integrity…
Grayscale amended a regulatory filing through which it intends to convert its Ethereum Trust to a spot exchange-traded fund (ETF). The company’s March 15 amendment strengthens its earlier filing in multiple ways. The update supports the argument that surveillance sharing within the CME ETH market is sufficient to protect against fraud and manipulation in the spot ETH market. Grayscale’s latest amendment includes a correlation analysis conducted by Coinbase as evidence of sufficient market correlation. Coinbase found that the CME ETH futures market has been “consistently and highly correlated” with the spot Ethereum market for roughly the past three years. The…
Fidelity Investments has amended its application for an Ethereum (ETH) spot exchange-traded fund (ETF) to include a staking feature, according to a regulatory filing. The amendment was filed with the US SEC on March 18 and has stirred significant interest in the industry, but market analysts and observers have mixed feelings. It introduces the possibility for the ETF to engage in staking activities, a core aspect of Ethereum’s functionality following its shift to a Proof of Stake (PoS) model. The amendment comes days after US politicians wrote to the SEC to block further crypto-related ETFs due to concerns over the…
Over the years, the Asia Pacific region (APAC) has established itself as an impressive environment for the rapidly growing technology industry. From the bustling tech hub of Singapore to the financial might of Hong Kong, the flourishing Web3 community in Vietnam, and the impressive technological creativity of Japan, APAC has consistently been at the forefront of innovation.With governments actively embracing blockchain, a highly skilled digital native population, and leading industry projects setting their sights on the region, APAC is set to lead the charge in shaping the future of Web3. Governments and Regulators Setting Pace One of the critical drivers of this…
Undoubtedly, one of the prerequisites for the mass adoption of blockchain technology is secure and seamless cross-chain interoperability. Many potential applications, particularly in complex and regulated sectors, simply can not be deployed without common guidelines and interface definitions. Without these, as is currently the case, applications that aim to go cross-chain must rely on custom off-chain components and automatically inherit the accompanying risks and trust assumptions. The only alternative is to remain constrained to a single, isolated network.Today’s interoperability solutions – or “bridges” – have matured to the point where just about any two blockchain networks can be connected. The…
Cosmos-based decentralized exchange Astroport is set to deploy its passive concentrated liquidity (PCL) pools on Osmosis, the largest Cosmos-based DEX by volume, following successful governance votes on both platforms. This move marks an alignment between two of the most active DEXes in the Cosmos ecosystem, aiming to improve the overall trading experience and capital efficiency for users.PCL pools, which aim to provide the benefits of concentrated liquidity without requiring active management, will be offered alongside Osmosis’s existing “supercharged liquidity” pools. Astroport’s pools utilize an advanced repegging algorithm that automatically concentrates liquidity around the exponential moving average of ongoing trades. As…