Crypto Bytes: Top 10 Breaking News from Cryptoverse 

  1. US Treasury’s proposed rules on cryptocurrency mixing has drawn criticism from Coinbase, which claims it places needless restrictions on crypto platforms and does not adequately address regulatory loopholes.
  1. One of the biggest bitcoin funds has made significant sell-offs in response to the ongoing bankruptcy proceedings for cryptocurrency exchange FTX. 22M shares of the Grayscale Bitcoin Trust (GBTC) fund were sold by FTX’s bankruptcy estate, resulting in outflows of around $1B.
  1. Binance has declared a significant token burn with the goal of rebalancing its ecosystem and boosting investor trust. The burn highlights Binance’s power and dedication to market norms by releasing corresponding numbers of collateral tokens on their home networks.
  1. EigenLayer is working on a shared security model that will allow protocols to be launched with a shared ETH pool. Re-stakes will be able to be employed concurrently for all network services in a future version of EigenLayer, which will discourage possible attackers.
  1. With the help of Consensys Staking, MetaMask has added the ability to run Ethereum validator nodes for users who have at least 32 Ether available. As of right now, the service claims an annual yield of roughly 4%, deducting a 10% fee from incentives that are accrued.
  1. Saga Increases Airdrop Incentives for Avalanche, Polygon, and Solana Games Saga, a new gaming network, is pushing play-to-airdrop for titles on other chains, including Parallel, Shrapnel, and Gas Hero.
  1. Genesis Cat, a Bitcoin-Based Digital Art Image, Sells for $254K at Sotheby’s Auction The digital image from the Taproot Wizards project was sold at a time when demand for the NFT-like products made on top of the Ordinals protocol of the Bitcoin blockchain was soaring.
  1. Proshares BitcoinETF Trading Volume Plunges 75% as Attention Turns to Spot ETFs According to observers, BITO will continue to play a crucial role in the market as a hedging tool for approved investors connected to the recently introduced spot ETFs.
  1. An analyst has suggested that the impending Dencun upgrade may have an effect on Ether supply. According to the expert, the mainnet activation of the upgrade can happen as soon as March of this year.
  1. On the Arbitrum network, there was a serious security compromise involving the Concentric liquidity manager app today. A social engineering approach was used in the breach to allow for the illegal acquisition of a crucial private key.

Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.

Author: Mehar Nayar

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