AI-powered summaries of the day's top crypto events
The SEC has proposed a new framework that allows investment advisers and funds to self-custody cryptocurrencies under certain conditions. This proposal aims to clarify the compliance path and reduce ambiguity by permitting the use of state trust companies as custodians. The move marks a significant regulatory development as Commissioner Hester Peirce exits her role.
NEAR Intents experienced a $3.8 million exploit affecting its deposit-and-withdrawal infrastructure, leading to a 10% drop in NEAR token value. This incident occurred shortly after the launch of NEAR's US ETF, marking a significant stress test for the token. NEAR Intents has pledged to reimburse affected users as it works to patch the security flaw.
A security breach involving MetaMask has led to the proactive exit of approximately 17,000 Ethereum validators, holding about 523,000 ETH. The breach redirected transaction-fee rewards, creating a backlog for stakers attempting to exit. This incident highlights ongoing security challenges within the Ethereum network.
Bitcoin ETFs have drawn $6.34 billion in net inflows during Q3, coinciding with a 42.71% rise in Bitcoin's price, marking its best third-quarter performance since 2017. This surge in ETF inflows reflects growing investor interest in Bitcoin amidst market volatility.
Evernorth has cleared a significant hurdle for its Nasdaq debut by securing shareholder approval for a $1 billion XRP treasury deal. The company expects to hold approximately 473 million XRP, positioning it as a substantial player in the XRP market.
Regulators in New York and Wyoming have signed an agreement to coordinate their oversight of digital asset firms. This pact aims to streamline licensing reviews and enforcement actions, enhancing regulatory clarity and cooperation between the two states.
EU regulators are examining Binance's use of a MiCA exemption to serve customers, as the exchange continues operations from Abu Dhabi. This scrutiny comes as ESMA seeks stronger enforcement powers, highlighting ongoing regulatory challenges for Binance in the EU.