‍Alpaca Launches Instant Tokenization Network for US Stocks Broker-dealer Alpaca introduces its Instant Tokenization Network (ITN), enabling institutions to mint and redeem tokenized US stocks on-chain. This development aims to boost on-chain liquidity for traditional financial assets. The ITN allows institutions to tokenize portfolios via a single API call and redeem tokens in-kind for underlying shares, bypassing cash settlement delays. The network offers 24/7 access to tokenized assets for US-regulated financial institutions. Arush Sehgal, Alpaca's head of crypto, detailed the ITN's functionality, including journaling securities and delivering tokens. Alpaca has previously supported tokenization initiatives for Ondo Finance and xStocks. The tokenization of real-world assets (RWA) is a significant blockchain investment trend, with over $31 billion in assets now represented on-chain. Tokenized stocks are seen as the next frontier for on-chain transformation.
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Unlocking On-Chain Liquidity: Alpaca Launches Instant Tokenization Network for US Stocks
US broker-dealer Alpaca has made a significant leap in the real-world asset (RWA) tokenization*space with the launch of its Instant Tokenization Ne...
‍Bitcoin Miners' Market Cap Surpasses $50 Billion, Driven by AI Demand Bitcoin mining firms have reached a new milestone, with their combined market capitalization exceeding $50 billion, according to JP Morgan. This surge is attributed to a strategic pivot towards high-powered computing (HPC) to support the growing artificial intelligence industry. This move diversifies revenue streams beyond mining rewards, mitigating risks associated with Bitcoin price fluctuations. Companies like Marathon Digital and Riot Platforms have seen significant stock gains. Notably, Cipher, a Bitcoin miner, secured backing from Google for its AI compute partnership with Fluidstack. Miners' existing infrastructure is well-suited for AI data centers, though operational adjustments are necessary. HIVE Digital, MARA, and CleanSpark have reported substantial stock performance, reflecting investor confidence in this evolving industry model.
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Beyond Blocks: Bitcoin Miners
The cryptocurrency landscape witnessed a significant development in September as the combined market capitalization of Bitcoin miners reached an...
‍Senator Accuses Crypto Billionaire Dan Morehead of $100M Tax Evasion Senator Ron Wyden has publicly accused Pantera Capital founder Dan Morehead of evading over $100 million in federal taxes by improperly exploiting Puerto Rican tax exemptions. Wyden alleges Morehead claimed his capital gains were exempt from U.S. taxes after obtaining Puerto Rican residency, despite laws requiring new residents to pay U.S. taxes on such transactions for 10 years. This inquiry is part of a broader Senate investigation into wealthy individuals using Puerto Rico's tax incentives. Morehead has not yet responded to the allegations.
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Crypto Billionaire Accused of $100M Tax Evasion Scheme via Puerto Rico
Senator Ron Wyden (D-OR), the top Democrat on the Senate Finance Committee, has publicly accused Pantera Capital founder Dan Morehead of refusing t...
‍Trump Nominee Travis Hill: A Potential Crypto Ally at FDIC Donald Trump has nominated Travis Hill, acting chair of the FDIC, for a five-year term. Hill has previously advocated for clearer digital asset guidance, stating banks can engage with digital assets as a "permissible activity." This nomination could foster innovation within regulated finance, though confirmation faces hurdles due to the ongoing government shutdown. The crypto industry awaits a clearer regulatory framework.
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Trump
US President Donald Trump has officially nominated Travis Hill, the acting chair of the Federal Deposit Insurance Corporation (FDIC), to assume the...
‍Solana Poised to Outshine Ethereum in ETF Staking Market Bitwise CEO Hunter Horsley suggests Solana's design offers a significant advantage over Ethereum for staking ETFs. The key differentiator is Solana's much quicker unstaking period, crucial for ETFs that must meet rapid investor redemption demands. Ethereum currently relies on workarounds like credit facilities or liquid staking tokens, which Horsley notes come with costs and capacity limits. Ethereum's exit queue for staked assets can currently take around 34 days, posing a "huge problem" for ETF liquidity. With the SEC reviewing multiple ETF applications including staking features, Solana's inherent liquidity advantage may give it an edge in this emerging market.
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Solana
Bitwise CEO Hunter Horsley believes Solana may gain a significant edge over Ethereum in the burgeoning staking Exchange-Traded Fund (ETF) market....
‍Injective Launches Onchain Pre-IPO Markets for Private Companies Injective Protocol has introduced onchain pre-IPO perpetual markets, allowing global investors to trade synthetic versions of private companies like OpenAI with up to 5x leverage. This decentralized offering utilizes data from Seda Protocol and Caplight, providing full onchain execution, programmability, and capital efficiency. The first market features OpenAI, with more private companies to be added. This initiative expands DeFi's reach into traditional financial markets and the growing RWA sector. Note: This product is not available to users in the United States, United Kingdom, or Canada.
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Injective Unlocks Pre-IPO Access with Onchain Derivatives: A Decentralized Alternative
Injective Protocol, a leading layer-1 blockchain dedicated to decentralized finance (DeFi), is revolutionizing access to private markets with the d...
‍Zcash Soars as 'Insurance Against Bitcoin,' Reaching 2022 Highs Privacy coin Zcash (ZEC) has seen a dramatic surge, gaining over 107% in the past week. This rally is fueled by a growing narrative that Zcash offers 'insurance' against Bitcoin's transparency and the rise of CBDCs. Key drivers include concerns over Bitcoin's public ledger, the development of centralized digital currencies, and the fundamental need for private money. Zcash utilizes zero-knowledge proofs to encrypt transaction details, ensuring sender, receiver, and amount remain private. Prominent figures like Naval Ravikant view Zcash as "insurance against Bitcoin," highlighting its role in preserving financial autonomy in an increasingly monitored digital landscape.
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Zcash
Privacy coin Zcash (ZEC) has recently captured significant attention within the digital asset market, experiencing a remarkable surge that propelle...
‍Solana's 'Addicted' Game Sparks Frenzy: High Returns or Fleeting Fad? A new Solana-based cannabis farming simulator, "Addicted," is gaining traction with players reporting substantial daily earnings in its native WEED token. The game, which requires an initial investment of 0.5 SOL, allows players to cultivate digital farms, with "grow power" determining WEED token yields. The WEED token reached a peak market cap of $82.48 million, with early players claiming daily profits of up to $10,000. Despite a recent correction, some see potential for sustainability through implemented mechanics like daily cool-downs and weekly reward halvings. However, questions about long-term viability persist, drawing parallels to past high-flying P2E ventures. Developers have yet to release a long-term strategy.
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Solana
A new Solana-powered cannabis farming simulator, aptly named Addicted, has taken the crypto gaming world by storm....
‍SBI Crypto Suffers $21 Million Heist; Funds Allegedly Laundered via Tornado Cash Japan-based SBI Crypto is reportedly the victim of a $21 million cryptocurrency theft. Blockchain sleuth ZackXBT revealed that the stolen funds, comprising BTC, ETH, LTC, DOGE, and BCH, were laundered through "instant exchanges" and the coin mixer Tornado Cash. Indicators suggest potential involvement of the North Korean Lazarus Group, known for similar attacks. SBI Crypto has not yet officially commented on the incident. This event underscores the ongoing security challenges within the crypto industry.
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$21 Million Heist Strikes SBI Crypto: Funds Laundered Through Tornado Cash
A significant security breach has reportedly hit Japan-based crypto mining giant SBI Crypto, with approximately $21 million in various cryptocurren...
‍Abu Dhabi Bans Farmland Crypto Mining Amidst Global Green Debate The Abu Dhabi Agriculture and Food Safety Authority (ADAFSA) has banned cryptocurrency mining on agricultural land, citing sustainability policies. Violators face fines up to 100,000 AED, suspension of services, hardware confiscation, and disconnection from the power grid. This decision aligns with a global discussion on crypto mining's environmental impact. While critics highlight energy consumption, proponents point to renewable energy use and waste heat recovery. Research suggests Bitcoin mining can utilize renewables and even convert harmful methane into energy, potentially reducing global emissions.
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Abu Dhabi Bans Farmland Crypto Mining Amidst Global Green Debate
The Abu Dhabi Agriculture and Food Safety Authority (ADAFSA), the agricultural regulator for the emirate of Abu Dhabi, United Arab Emirates (UAE), ...