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According to Foresight News, UBS and Deutsche Bank have announced their participation in a trial conducted by the European Central Bank (ECB) to explore the use of distributed ledger technology (DLT) for wholesale settlement. As part of this initiative, the two banks simulated tokenized deposit payments between financial institutions. The trial utilized the Bundesbank's Trigger solution, which enables blockchain-based systems to connect with the Trigger Chain, facilitating payments in central bank money through the Target2 payment system.In the context of tokenized deposits, the process involves the destruction of tokens on the sending blockchain and their minting at the receiving bank. The trial included two separate experiments. The first focused on time-sensitive euro payments, highlighting the potential for DLT to enhance efficiency and speed in financial transactions. The second experiment simulated transactions between Deutsche Bank's London branch and UBS in Switzerland, involving the exchange of British pounds and Swiss francs, with settlements conducted in euros.These trials represent a significant step in exploring the integration of blockchain technology into traditional banking systems. By simulating real-world scenarios, the banks aim to assess the feasibility and benefits of using DLT for cross-border payments and settlements. The experiments underscore the growing interest among financial institutions in leveraging blockchain to improve transaction processes, reduce costs, and enhance security.The ECB's initiative reflects a broader trend in the financial industry towards embracing digital innovations. As central banks and financial institutions continue to explore the potential of DLT, these trials provide valuable insights into the practical applications of blockchain technology in the banking sector. The successful execution of these simulations could pave the way for further adoption of DLT in wholesale banking operations, potentially transforming the landscape of international finance.

According to PANews, a whale account has made a substantial acquisition of Solana (SOL) tokens over the past two days. The account purchased 100,000 SOL, valued at approximately $23.86 million, and has staked the entire amount. This recent transaction brings the account's total holdings to 231,919 SOL, with an estimated value of around $55.58 million.

According to Odaily, Helika Gaming and Notcoin have introduced the Telegram Gaming Accelerator, a new initiative aimed at assisting game developers in creating games for Telegram's extensive user base of over 900 million. This program offers game studios complimentary access to traffic and analytics tools, alongside mentorship from seasoned professionals in the gaming industry and Web3 experts.Applications for the Telegram Gaming Accelerator are currently open and will be accepted until December 16. Submissions will be reviewed on a rolling basis, allowing developers to apply at their convenience and receive timely feedback on their proposals. This approach ensures that a diverse range of projects can be considered, promoting a wide array of gaming experiences for Telegram's vast audience.

According to Odaily, Michael Saylor, the Executive Chairman of MicroStrategy, has lost his voting control over the company. Historically, MicroStrategy's dual-class share structure separated equity ownership from voting rights. As of October 21, Saylor held 51.7% of the total voting power of MicroStrategy's common stock. His overwhelming control over Class B shares, which carry ten times the voting power of Class A shares, allowed him to maintain majority control despite a reduced percentage of equity exposure.Nasdaq classifies MicroStrategy as a "controlled company" due to Saylor's singular control over company management and decision-making, such as shifting the company's focus from software to Bitcoin acquisition. Under Nasdaq governance rules, controlled companies are not required to have an independent board of directors, compensation, or nominating committees. MicroStrategy is also exempt from having independent directors determine Saylor's compensation or that of advisors and legal counsel.However, Saylor's voting control has now fallen below 50% due to the issuance of a significant amount of stock and debt to purchase Bitcoin. Despite the Class B shares having ten times the voting power of Class A shares, the sheer volume of Class A shares issued has resulted in their voting power surpassing that of Class B shares.Approximately a week ago, MicroStrategy established a new board nominating committee led by Carl J. Rickertsen and adopted a new nominating committee charter. Further details regarding Rickertsen's nomination and the powers granted by the new charter will be disclosed in future SEC filings, expected no later than the company's next quarterly report scheduled for mid-February 2025.As of the time of reporting, MicroStrategy's market capitalization stands at $111 billion, with Bitcoin holdings valued at $31 billion.

According to Odaily, recent data from Token Terminal reveals that Circle has been transferring approximately $100 billion worth of stablecoins weekly on the Base chain over the past two months. This significant movement highlights the growing activity and reliance on the Base chain for stablecoin transactions.The consistent transfer of such a substantial amount underscores the importance of stablecoins in the current digital economy, providing liquidity and stability in the volatile cryptocurrency market. Circle's operations on the Base chain reflect a strategic approach to leverage blockchain technology for efficient and secure financial transactions. As the digital currency landscape evolves, the role of stablecoins continues to expand, offering a bridge between traditional finance and the burgeoning world of cryptocurrencies.

According to Cointelegraph, United States prosecutors have charged five individuals accused of participating in a scheme that allegedly hacked numerous businesses and individuals, resulting in the theft of $11 million in cryptocurrency and sensitive information. The California US Attorney’s Office announced on November 20 that the defendants employed SMS phishing links and SIM-swapping techniques to access the login credentials of individuals and employees of certain companies, targeting their work or cryptocurrency exchange accounts.Court documents reviewed by Cointelegraph revealed at least 29 alleged victims of individual crypto thefts. Prosecutors highlighted one case where a victim lost over $6.3 million in cryptocurrency after their email and wallets were compromised. Investigators reported that the group targeted 45 companies across the United States, Canada, India, and the United Kingdom. Among these was an unnamed US crypto exchange, whose employees received fraudulent text messages claiming their accounts would be deactivated, leading them to phishing links designed to extract sensitive credentials.Martin Estrada, the US Attorney in Los Angeles, stated, "We allege that this group of cybercriminals perpetrated a sophisticated scheme to steal intellectual property and proprietary information worth tens of millions of dollars and steal personal information belonging to hundreds of thousands of individuals." The defendants are reportedly members of the Scattered Spider hacking group, which prosecutors claim operated from around September 2021 to April 2023. The accused include Ahmed Elbadawy, 23, from Texas; Noah Urban, 20, from Florida; Evans Osiebo, 20, from Dallas; Joel Evans, 25, from North Carolina; and Tyler Buchanan, 22, from Scotland.Each defendant faces charges of conspiracy, conspiracy to commit wire fraud, and aggravated identity theft, with Buchanan facing an additional wire fraud charge. The fraud-related charges alone carry a potential maximum sentence of 20 years in prison. Last November, Reuters reported that the FBI had difficulty stopping Scattered Spider, which has been linked to the September 2023 hacks of Caesars Entertainment and MGM casinos, despite knowing the group members’ identities and locations in the US. It remains unclear if the five accused were involved in the casino hacks, but court documents reference "other co-conspirators" and an "unindicted co-conspirator," suggesting others may be implicated in crimes not yet publicly disclosed.Investigators, including the FBI and Police Scotland, tracked Buchanan through information he provided to register phishing sites used in the alleged scams. A search of Buchanan’s devices uncovered data from a US crypto exchange and a US telecom company. Information on legal representation for each defendant was not immediately available.

According to Cointelegraph, the Bank for International Settlements (BIS) has raised concerns about the decentralization of liquidity providers (LPs) on decentralized exchanges (DEXs), particularly focusing on Uniswap v3. In a working paper published on November 19, the BIS examined whether DEXs truly democratize financial markets or if they are dominated by a few large players, similar to traditional financial markets. The BIS conducted an analysis of the Ethereum blockchain, specifically looking at the top 250 liquidity pools in Uniswap. The study aimed to determine if retail LPs can compete effectively with institutional providers. The findings revealed that liquidity provision in DeFi is not as decentralized as its technological framework suggests. The report highlighted that a small number of sophisticated players hold about 80% of the total value locked in these pools, focusing on those with high trading volumes and lower volatility. Retail LPs, according to the BIS, earn a smaller share of trading fees and experience lower relative investment returns. The study also noted that retail providers tend to lose money on a risk-adjusted basis. Although the research centered on Uniswap, the BIS suggested that these findings could be applicable to other DEXs. The paper recommended further research into the roles of retail and institutional participants across various DeFi applications, such as lending and borrowing. The BIS concluded that the dominance of institutional LPs challenges the foundational ethos of DEXs, which is to democratize financial systems. The concentration of liquidity provision capabilities leaves retail investors at a disadvantage. The researchers argued that many economic forces leading to centralization in traditional finance are likely inherent in the financial system, including DeFi. They contended that merely allowing participation does not result in a truly disintermediated market. Despite these criticisms, the BIS acknowledged that DeFi faces fewer regulatory, operational, and technological barriers compared to traditional finance. In response to the paper, economist Gordon Liao, who previously led research for Uniswap, argued that the data could be interpreted differently. He noted that sophisticated traders, who earn 80% of the fees, only achieve a marginal improvement in fee earnings compared to less-sophisticated passive users. Liao cited a study from the Journal of Financial Economics, suggesting that the situation for liquidity providers is "much worse" in traditional finance.

According to Odaily, recent data from Token Terminal reveals that Aave's active loans have exceeded $10 billion. This marks a substantial increase from the $3.4 billion recorded at the beginning of the year. This growth highlights Aave's expanding influence in the decentralized finance (DeFi) sector, showcasing its ability to attract a significant volume of lending activity. The surge in active loans underscores the platform's robust performance and growing user base, reflecting broader trends in the DeFi market where lending protocols are gaining traction. Aave's impressive growth trajectory is indicative of the increasing trust and reliance on decentralized financial services. As more users and investors turn to DeFi platforms for lending and borrowing, Aave's role as a leading protocol in this space becomes more pronounced. The platform's ability to scale and manage a growing volume of loans is a testament to its technological infrastructure and strategic positioning within the market.

According to Odaily, Linea has announced on the X platform that it is actively working with X to restore its official LineaAssn account. The company has urged the community to remain vigilant and avoid falling victim to scams during this process. Linea emphasized the importance of community awareness and caution, highlighting the need for users to verify information and stay informed about any updates regarding the account restoration. This collaboration with X aims to ensure the security and authenticity of Linea's communications with its audience. The company reassures its users that it is taking all necessary steps to resolve the issue promptly and effectively. As the situation develops, Linea will continue to provide updates to keep its community informed and protected from potential fraudulent activities.

According to Odaily, cybersecurity firm SlowMist has announced its commitment to aiding law enforcement agencies in tracking stolen funds and analyzing related clues. The company revealed that it is collaborating with DEXX to release a comprehensive list of hacker addresses soon. Currently, SlowMist has identified approximately 2,000 suspicious addresses. This initiative underscores SlowMist's ongoing efforts to enhance security and transparency in the digital asset space, providing crucial support to authorities in their investigations.

According to PANews, DEXX, an on-chain trading terminal, has announced updates regarding a recent security incident. The company has officially filed a lawsuit and is collaborating with the SlowMist team to assist law enforcement in the ongoing investigation. DEXX is also actively discussing a compensation plan for affected users.In a statement, DEXX assured users that if all stolen assets are recovered, full compensation will be provided to ensure that user interests remain unaffected. In the event that only a portion of the assets can be retrieved, the platform will still fulfill its compensation responsibilities, with specific plans depending on the amount recovered. DEXX is currently mobilizing all available resources to recover the stolen assets and resolve the issue as swiftly as possible.Previously, SlowMist reported that the DEXX incident has impacted over 900 victims, with total estimated losses amounting to $21 million.

According to Odaily, recent monitoring by Trader T reveals that BlackRock's IBIT recorded a pre-market trading volume of $170 million today. Of this total, 38% consisted of active buy orders, while 44% were active sell orders. This data provides insight into the current trading dynamics and investor sentiment surrounding BlackRock's IBIT, highlighting a slightly higher inclination towards selling activities compared to buying. The remaining percentage of trades likely involved other types of transactions, reflecting a diverse range of trading strategies among market participants. This trading activity is indicative of the ongoing interest and engagement in BlackRock's financial products, as investors continue to navigate the complexities of the market. The figures underscore the importance of monitoring trading patterns to better understand market trends and investor behavior.

According to Odaily, Paxos has announced its acquisition of Membrane Finance. While the specific financial details of the acquisition have not been disclosed, it is noted that the transaction is subject to regulatory approval. Upon completion, Paxos will become a fully licensed Electronic Money Institution (EMI) in Finland and the European Union.This strategic move marks a significant step for Paxos in expanding its presence and capabilities within the European financial market. By acquiring Membrane Finance, Paxos aims to enhance its service offerings and regulatory standing in the region. The acquisition aligns with Paxos's broader strategy to strengthen its position as a leading provider of financial technology solutions globally.The acquisition is expected to provide Paxos with a robust platform to offer a wider range of financial services under the stringent regulatory frameworks of Finland and the EU. This development underscores Paxos's commitment to compliance and its proactive approach to navigating the complex regulatory landscape in Europe. As the company awaits regulatory approval, the acquisition highlights the growing trend of consolidation within the financial technology sector, driven by the need for enhanced regulatory compliance and expanded market reach.

According to Odaily, Bitcoin mining company MARA Holdings has announced an increase in the principal amount of its 0.00% convertible senior notes due in 2030 to $850 million, up from the initially announced $700 million. The company has also granted initial purchasers of the notes an option to buy up to an additional $150 million in principal amount within 13 days from the initial issuance date. The offering is expected to close on November 20, 2024, subject to customary closing conditions.MARA Holdings plans to use approximately $199 million of the net proceeds from the sale of the notes to repurchase, through privately negotiated transactions, a total principal amount of $212 million of its existing convertible notes due in 2026. The remaining net proceeds will be allocated towards increasing its Bitcoin holdings and for general corporate purposes. These purposes may include working capital, strategic acquisitions, expansion of existing assets, and repayment of additional debt and other outstanding liabilities.

According to Odaily, DEXX has issued a statement on platform X addressing user concerns about potential token dumping by hackers. The platform is currently analyzing the timing and addresses involved to determine if they belong to their users. DEXX urges users to contact them via their Telegram channel or reach out to a security company if they notice any suspicious activity or unauthorized token movements in their accounts.In related news, blockchain security firm SlowMist reported an update on the DEXX incident as of November 18. The company has received over 1,100 reports from the community regarding stolen funds. After filtering out duplicate reports, SlowMist has identified more than 900 victims, with total losses estimated at $21 million, subject to price fluctuations. The investigation is ongoing as both DEXX and SlowMist work to address the security breach and mitigate further risks to users.

According to Odaily, recent monitoring by PeckShield has revealed that the attacker responsible for the Polterfinance breach has transferred 120 ETH to Tornado Cash. This development follows a significant security incident where Polterfinance suffered a hack resulting in the theft of approximately $8.7 million worth of cryptocurrency.The attack on Polterfinance highlights ongoing vulnerabilities within the cryptocurrency sector, where security breaches continue to pose substantial risks to digital assets. The transfer of funds to Tornado Cash, a privacy-focused platform, suggests an attempt by the attacker to obscure the trail of the stolen assets, complicating efforts to recover the funds and identify the perpetrator.This incident underscores the importance of robust security measures and the need for continuous monitoring to protect against such breaches. As the cryptocurrency market evolves, stakeholders must remain vigilant and proactive in safeguarding their assets against increasingly sophisticated cyber threats.

According to BlockBeats, officials from DEX Exchange (DEXX) announced on social media that they are currently investigating reports of a potential rug pull involving certain tokens. Users have raised concerns about suspicious activities, prompting the exchange to analyze timestamps and addresses to ascertain if they are linked to their users.The exchange has urged users to remain vigilant and report any unusual token activity in their addresses. They have advised users who suspect that a hacker might be consolidating or selling tokens to reach out immediately. DEXX has provided a communication channel through their Telegram platform and encouraged users to contact a security firm if necessary. The exchange is actively working to address these concerns and ensure the security of its users' assets.

According to BlockBeats, on November 19, monitoring by Trader T revealed a substantial net outflow of $24.1 million from BlackRock's ETHA. This development marks a significant movement in the financial activities surrounding BlackRock's cryptocurrency holdings. The outflow indicates a notable shift in investor sentiment or strategy, reflecting broader trends in the cryptocurrency market.The reported outflow from BlackRock's ETHA could be indicative of various underlying factors influencing investor behavior. Such movements are often closely watched by market analysts and participants as they can signal changes in market dynamics or investor confidence. The cryptocurrency market is known for its volatility, and large-scale transactions like this can have ripple effects across the sector.This event underscores the importance of monitoring institutional activities in the cryptocurrency space, as they can provide insights into market trends and potential future movements. As the market continues to evolve, the actions of major players like BlackRock remain a focal point for understanding the broader financial landscape.

According to Odaily, the official governance page of ZKsync has announced the submission of proposal ZIP-001, titled 'Protocol Defense,' on the blockchain. The voting process for this proposal is scheduled to commence around 17:00 UTC on November 26 and will remain open for seven days.The ZIP-001 proposal outlines a series of improvements and optimizations aimed at enhancing the ZKsync Era's code quality. These proposed changes focus primarily on refactoring the codebase to improve readability, maintainability, and gas efficiency. By addressing these areas, the proposal seeks to bolster the overall performance and reliability of the ZKsync protocol.The initiative reflects a strategic effort to ensure that the ZKsync Era remains robust and efficient, catering to the evolving needs of its users. As the community prepares to vote, the emphasis is on achieving a consensus that aligns with the long-term goals of the protocol. The outcome of this vote will determine the implementation of these critical enhancements, potentially setting a new standard for code quality within the ZKsync ecosystem.

According to Odaily, Matrixport has released a chart indicating that the strongest bullish signal currently comes from the seven-day stablecoin minting indicator. This metric measures the scale of fiat currency inflows into stablecoins over a rolling seven-day period. Compared to previous cycles, this indicator has nearly doubled, reflecting an unusually high demand for cryptocurrencies and a significant influx of new capital into the market.While prices may rise sharply with minimal selling pressure, the stablecoin minting indicator further suggests that a substantial amount of new funds is entering the market. Historical data shows that the first quarter typically experiences the strongest capital inflows, indicating that larger-scale fund allocations may take several weeks to materialize. This trend could further enhance the potential for sustained upward price movement.