Banks now represent nearly one in four providers on ESMA’s MiCA register after roughly doubling their presence since late June. Banks are rapidly expanding their presence in Europe’s regulated crypto market, with traditional lenders now accounting for nearly one in four providers listed under the European Union’s Markets in Crypto-Assets framework (MiCA). The number of banks on the EU’s MiCA crypto provider list doubled to about 80 from roughly 40 between June 26 and Sept. 16, according to a Cointelegraph analysis of MiCA register data from the European Securities and Markets Authority (ESMA). The overall number of listed crypto-asset service providers (CASPs) rose from 243 to 349 over the period, but non-bank providers lost ground in relative terms, with their share falling from about 84% to 77%. Read more
The non-profit signaled support for reducing Ethereum block times, citing increasing institutional activity moving onto the smart-contract network. Ethereum Institutional signaled support for Ethlabs’ motion to reduce block times and create a faster Ethereum to address increasing competition from other networks. “Make Ethereum faster,” wrote the non-profit organization in a Friday X post, arguing that reducing block times is needed as “more institutional activity moves onchain.” On Thursday, Ethlabs published an article quoting 20 decentralized finance (DeFi) founders showing broad support for EIP-8198, also known as “Quick Slots,” which seeks to initially reduce Ethereum block times to 10 seconds from 12 seconds. Read more
HYPE hit a record $90.92 after Hyperliquid opened manual borrowing, letting users borrow stablecoins against HYPE and Bitcoin collateral. HYPE, the native cryptocurrency of the Hyperliquid layer-1 blockchain and decentralized trading platform, set a fresh all-time high above $90 on Friday as the protocol rolled out manual borrowing. HYPE surged as high as $90.92 shortly after Hyperliquid announced users can now supply HYPE and Bitcoin as collateral to borrow the stablecoins USDC and Tether’s USDt (USDT). “Manual borrows are live on Hyperliquid,” the protocol said, adding that the feature and its portfolio-margin system use the same underlying HyperCore infrastructure. Hyperliquid co-founder Jeff Yan said the design means every borrowed asset comes from a supplier rather than being created through platform-level margin accounting. Read more