Officials in the G20, under the US’ presidency, recognized that digital assets could support “broad-based economic growth” and called for improvements in cross-border transactions. Member nations of the Group of 20 (G20) agreed on policies supportive of the potential of digital assets in “broad-based economic growth.” In a speech released by the US Treasury Department on Tuesday, the G20, currently chaired by the United States, said that all members had agreed with statements recognizing the “transformative role” of digital asset innovation. The body also called on countries to improve cross-border payments and facilitate the transmission of financial services-related data. “We commit to advancing responsible and effective regulatory and supervisory frameworks that preserve financial stability, support economic growth, and establish clear pathways for sound digital financial and digital assets innovation, while considering cross-border opportunities and challenges as appropriate,” said the G20 statement. Rea...
Full Sail is shutting down after an attacker removed about $91,000 from three vaults during a security incident linked to oracle provider Switchboard. Full Sail, a decentralized finance (DeFi) protocol on the Sui blockchain, plans to shut down after a security incident involving oracle provider Switchboard resulted in user losses. Full Sail took to X on Tuesday to announce that the protocol is winding down, immediately disabling new deposits and liquidity provider (LP) reward claims. Regular pools will move to withdrawal-only mode after final security checks, with compensating users the protocol’s top priority, Full Sail said. The decision follows a security incident last week that affected Full Sail’s automated vaults following a suspected compromise of Switchboard’s oracle infrastructure. Read more
Arthur Hayes says Bitcoin is going to grind higher from here, but Ethereum is his number one pick due to its potential to increase “3x to 5x pretty quickly.” Bitcoin has all the factors in place to a seven-figure price over the next four years, according to BitMEX co-founder Arthur Hayes. But he’s buying ETH right now, because he believes it could easily do a “3x to 5x pretty quickly.” On the latest episode of Trade Secrets, Hayes says the collapse of the AI bubble, “massive” money printing, and potential US yield curve control are among some of the reasons why Bitcoin could go to $1 million by 2030 Read more
Hashkey joined the DTCC’s working group on tokenization innovation as the first Asian crypto service provider to join with over 100 financial institutions, including Goldman Sachs and JPMorgan. Hashkey joined the Depository Trust & Clearing Corporation’s (DTCC) Digital Assets Advisory Services Industry Working Group as its first Asian digital asset service provider. Hashkey joins over 100 other global financial institutions and asset managers to help define how tokenized assets are issued, settled and safeguarded at an institutional scale. Other participants include JPMorgan Chase, Goldman Sachs, Nasdaq and the New York Stock Exchange (NYSE), the company revealed in a Wednesday announcement. DTCC is a core post-trade infrastructure provider in traditional financial markets. Its working group was formed to connect traditional finance with decentralized finance (DeFi) infrastructure. DTCC plans to launch access to tokenized securities in October, in conjunction with the working group. DTCC custodies $114 trill...