In a letter to the US regulator, Ondo argued that Nasdaq’s plan relies on undisclosed settlement details that could favor big players. Ondo Finance urged the US Securities and Exchange Commission (SEC) to delay or reject Nasdaq’s proposal to trade tokenized securities, saying it lacks transparency and could give established market players an unfair edge. In a Wednesday letter to the regulator, Ondo — a blockchain company that issues tokenized versions of traditional assets — said regulators and investors can’t fairly evaluate Nasdaq’s proposal without public details on how the Depository Trust Company (DTC) will handle blockchain settlements. DTC serves as the main depository for US securities and facilitates their post-trade settlement. While acknowledging support of Nasdaq’s move toward tokenization, Ondo warned that “Nasdaq’s reference to non-public information implies differential access that deprives other firms of a fair opportunity to comment.” Read more
"EtherHiding" deploys in two phases by compromising a website, which then communicates with malicious code embedded in a smart contract. North Korean hackers have adopted a method of deploying malware designed to steal crypto and sensitive information by embedding malicious code into smart contracts on public blockchain networks, according to Google’s Threat Intelligence Group. The technique, called “EtherHiding,” emerged in 2023 and is typically used in conjunction with social engineering techniques, such as reaching out to victims with fake employment offers and high-profile interviews, directing users to malicious websites or links, according to Google. Hackers will take control of a legitimate website address through a Loader Script and embed JavaScript code into the website, triggering a separate malicious code package in a smart contract designed to steal funds and data once the user interacts with the compromised site. Read more
Bitcoin fell below $105,000 as US banking stress rattled risk markets, but stronger-than-expected regional bank earnings helped ease investor fears. Will the BTC uptrend resume any time soon? Key takeaways: Bitcoin price stabilized after US regional banks posted stronger-than-expected earnings, easing credit fears. One analyst predicted Bitcoin’s bull run could end in 10 days. Read more
Babylon unveils a proof-of-concept for using native Bitcoin in DeFi lending, as BNB Chain and Hyperliquid post major updates. Bitcoin infrastructure company Babylon Labs claimed to have developed a system that enables native Bitcoin to be used as collateral for borrowing assets on Ethereum. Babylon Labs co-founder and Stanford University professor David Tse said on Wednesday that the company built a proof-of-concept that allows native Bitcoin to be used “trustlessly” as collateral for loans on Ethereum. The comments follow a white paper release from the company, revealing a Bitcoin trustless vault system that leverages Bitcoin smart contract verification BitVM3 to lock BTC in per-user vaults. Here, withdrawals are gated by proofs of external smart contract state verified on Bitcoin. Read more
Odds for the resumption of "Uptober" dwindle as Bitcoin, Ether and most altcoins continue toward new lows. Will next week’s US economic calendar events help restore the uptrend? Key points: Bitcoin is finding buying support below the $107,000 level, but the relief rally is likely to be sold into. Several altcoins have reached strong support levels, but the lack of a solid rebound suggests the downward pressure may continue for a while. Read more
Switzerland's nationwide gambling authority said that user rewards on the platform feature the element of chance, categorizing them as gambling. Switzerland’s Gambling Supervisory Authority (GESPA), the country’s gambling regulator, has filed a complaint against FIFA’s non-fungible token (NFT) platform FIFA Collect, alleging that it is an unlicensed gambling provider. On Friday, GESPA announced the complaint, alleging the platform’s “competitions,” which feature user rewards like airdrop campaigns and challenges, constitute gambling under current Swiss regulations due to the element of chance in claiming rewards. GESPA wrote: From a gambling law perspective, the offers in question are partly lotteries and partly sports betting,” GESPA said. Switzerland has only two nationwide regulated sports gambling providers, Sporttip and Jouez Sport, according to GESPA. Read more