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The most recent product that MetaMask Institutional has to offer is a staking marketplace that is designed to make the process of institutional staking for Ethereum more straightforward. This action represents a big step forward for institutions who are working for validator status on the Ethereum network.

Institutions who make use of MetaMask’s institutional-grade wallet and custody service now have the ability to handle their Ether (ETH) staking via a total of four different vendors. These vendors are ConsenSys Staking, Allnodes, Blockdaemon, and Kiln. The staking marketplace will provide an alternative to solo staking that is more streamlined and will make it simpler for institutions to participate in the Ethereum network as validators.

Because of the many costs, terms and conditions, rebates, and reporting criteria involved in institutional staking, a new marketplace for staking has been developed in order to handle this complexity. The solution provided by MetaMask streamlines the procedure and makes it easier for institutions to use it.

It is anticipated that the new offering would entice other institutions to engage in the Ethereum network, which will subsequently increase the network’s decentralization as well as its security. The risk of assaults and other breaches in network security will decrease as more institutions join the network and take on the role of validators. In addition, validators have the opportunity to receive benefits for their engagement in the network, which further serves to encourage such participation.

This most recent turn of events comes on the heels of a declaration made by Shanghai that it would facilitate deposit withdrawals for Ethereum validators. This indicates that solo stakers who have staked the required 32 ETH can now access their accumulated staking rewards and withdraw their tokens from their staked wallets. In the past, only liquidity provider pools permitted users to deposit and withdraw amounts of ETH that were below a certain threshold.

It is anticipated that the staking marketplace offered by MetaMask Institutional will prove to be a significant step forward for institutional staking on the Ethereum network. The procedure is made easier to understand and is made available to a greater number of institutions as a result. Ethereum’s decentralization and security are strengthened as more institutions become validators on the network. This makes Ethereum an even more robust and secure blockchain ecosystem than it already was.

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MetaMask Launches Ethereum Staking Marketplace Republished from Source https://blockchain.news/news/metamask-launches-ethereum-staking-marketplace via https://blockchain.news/RSS/

In a security breach, the Twitter account of Circle’s USD Coin (USDC) stablecoin chief strategy officer Dante Disparte has been compromised. The hack resulted in the promotion of fake loyalty rewards for long-time USDC users, which was tweeted from Disparte’s account and later deleted. Prior to the incident, the account had been tweeting about the regulatory developments of the firm and its participation in Paris Blockchain Week.

The security breach comes less than a month after the USDC briefly depegged due to reserve deposits left in the custody of defunct American tech bank Silicon Valley Bank. However, the incident was resolved, and the USDC has repegged, although there is still a slight variance with the stablecoin’s peg at the time of publication.

Circle’s USDC stablecoin is a regulated cryptocurrency that is backed by US dollars on a one-to-one basis. The stablecoin has been gaining popularity as a means of conducting transactions on cryptocurrency exchanges due to its stability compared to other cryptocurrencies, which are known for their volatility.

Hacking incidents have been prevalent in the cryptocurrency industry, with high-profile cases including the 2014 Mt. Gox hack, which resulted in the loss of around 850,000 bitcoins. In response to the incident, Circle has not provided any further details about the security breach or the steps it has taken to mitigate the damage caused by the hack. However, it is likely that the company will conduct a thorough investigation to determine the extent of the breach and prevent similar incidents from occurring in the future.

The security of cryptocurrencies and their related infrastructure is a pressing concern for regulators and market participants alike. In response to these concerns, regulatory bodies around the world have been implementing new measures to safeguard cryptocurrency exchanges and other digital asset platforms. The recent hack of Circle’s USDC stablecoin chief strategy officer’s Twitter account highlights the need for increased security measures and greater vigilance in the cryptocurrency industry.

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USD Coin Chief Strategy Officer Twitter Account Hacked Republished from Source https://blockchain.news/news/usd-coin-chief-strategy-officer-twitter-account-hacked via https://blockchain.news/RSS/

Cathie Wood’s investment management firm ARK Invest has sold a portion of its Coinbase shares as the stock sees significant growth in price. After three months of active buying, ARK made its first sale of Coinbase stock in 2023, accounting for 23% of all shares acquired in March and 9% of all shares purchased this year. The remaining 1.6 million Coinbase shares held by ARK are currently valued at over $132 million.

Coinbase’s stock, which trades as COIN, has been on the rise, hitting multi-month highs as of March 21. The shares reached a price level not seen since September 2022, according to data from TradingView. Despite a 54% drop in the past year, the stock has recovered more than 130% since the start of 2023.

The upward trend of Coinbase’s stock price aligns with the positive trend in the cryptocurrency market, with Bitcoin hitting multi-month highs amid the ongoing global banking crisis. On March 22, Bitcoin surpassed $28,000, reaching its highest level in nine months. This marks a significant recovery in price levels triggered by industry crises like the collapse of FTX.

ARK Invest’s recent sale comes shortly after its largest purchase of Coinbase stock in 2023. On March 9, the investment manager bought 301,437 Coinbase shares for its ARK Innovation ETF (ARKK) and 52,525 shares for the ARK Next Generation Internet ETF (ARKW). At the time of purchase, the stock was worth about $20.5 million, but has since increased to nearly $30 million in value.

ARK Invest’s decision to sell a portion of its Coinbase shares may indicate the firm is taking profits and diversifying its portfolio. It’s worth noting that ARK Invest has been a strong supporter of the cryptocurrency industry, with Cathie Wood herself being vocal about the potential for cryptocurrencies like Bitcoin to revolutionize the financial system.

Coinbase, which went public via a direct listing in April 2021, has had a turbulent year, with the company facing regulatory scrutiny and a significant drop in the price of cryptocurrencies earlier in 2022. However, the recent surge in Coinbase’s stock price, along with the positive trend in the cryptocurrency market as a whole, may signal a brighter future for the company.

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ARK Invest Sells Portion of Coinbase Shares Republished from Source https://blockchain.news/news/ark-invest-sells-portion-of-coinbase-shares via https://blockchain.news/RSS/

Visa, one of the world’s leading payment providers, has released its biannual threat report, revealing that 2022 saw a record-breaking number of cryptocurrency thefts, with over $3 billion stolen in on-chain exploits. The report covers all types of digital payment system violations worldwide, including plastic card fraud schemes and malware, but has a separate section dedicated to cryptocurrency and digital platforms.

The report identifies token bridges as a common target for threat actors. These bridges enable the exchange of cryptocurrencies between different blockchain networks, but fraudsters often exploit smart contracts within the bridge service to either create new transactions or allow for unauthorized transactions to be approved. Between January and early October 2022, a total of $2 billion was stolen via token bridges.

Visa’s report also highlights a cryptocurrency-focused phishing campaign that targeted crypto exchanges. The attackers impersonated a crypto exchange in emails to collect the victim’s account login data. When the actual exchange prompted the threat actor for two-factor authentication (2FA), the attacker used the spoofed site to obtain the victim’s 2FA information, allowing them to complete the login process using the genuine 2FA from the spoofed site.

In February, it was reported that Visa and Mastercard would delay the launch of new partnerships with crypto firms due to high-profile bankruptcies in the industry. However, Cuy Sheffield, Visa’s head of product, refuted the claims, stating that Visa would continue to partner with crypto companies to enhance fiat on and off-ramps and create new products to facilitate stablecoin payments.

Despite the delay, the cryptocurrency market has continued to grow, with Bitcoin’s market capitalization surpassing Visa’s for the third time in history on February 20. By March 14, the gap between the two had grown to over $20 billion in favor of Bitcoin.

Cryptocurrency thefts have been a recurring problem in the industry, with exchanges and users often targeted by hackers. In 2019, the infamous hack of Japan-based exchange Coincheck resulted in the loss of over $500 million worth of cryptocurrency. Similarly, the 2021 Colonial Pipeline ransomware attack involved a demand for payment in Bitcoin.

Visa’s report highlights the importance of securing token bridges and exchanges, as well as the need for continued efforts to enhance security measures in the cryptocurrency industry.

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Visa Reports Record-Breaking Cryptocurrency Thefts in 2022 Republished from Source https://blockchain.news/news/visa-reports-record-breaking-cryptocurrency-thefts-in-2022 via https://blockchain.news/RSS/

In recent news, Bitzlato, a Russia-linked cryptocurrency exchange, has partially restored access to user funds, despite being officially seized by European authorities. The exchange has enabled its users to withdraw up to 50% of their assets that were stuck on the platform due to enforcement from the United States and Europol. Bitzlato made the announcement on its Telegram channel on March 20, stating that users can now restore half of their assets using the Telegram bot called bz_phoenix_bot. The bot allows users to move assets from the web Bitzlato account to an external wallet or exchange.

All withdrawals from Bitzlato are processed in Bitcoin (BTC) as the platform converted all altcoin holdings by users into BTC when the service was halted on January 18. The firm converted user balances to Bitcoin due to technical difficulties associated with servicing multiple altcoins after Bitzlato was seized. Several alleged Bitzlato users have confirmed being able to move their Bitcoin to exchanges like ByBit and Binance. Some users also reportedly used software wallets like Trust Wallet and ViaBtc, and hardware wallets like Ledger, to withdraw their Bitcoin.

Bitzlato’s 50% withdrawal option follows its previously announced roadmap on restoring users’ access to the platform and resuming operations. According to the plan, Bitzlato will continue its work to restore the platform and aims to provide a service for peer-to-peer (P2P) cryptocurrency trading by early April 2023.

However, Bitzlato users should not expect to recover the remaining 50% of their assets once the P2P exchange is launched. A Bitzlato spokesperson clarified that there will be no second half once the P2P is opened since these are two unrelated questions and processes.

Bitzlato is a peer-to-peer cryptocurrency exchange that was launched in 2015 by a group of cryptocurrency enthusiasts. The exchange offers trading in a wide variety of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Dash. It has a presence in several countries, including Russia, Ukraine, Venezuela, and Nigeria. Bitzlato was officially seized by European authorities on January 18, 2022, following a joint operation by the United States and Europol. The exchange was accused of being involved in money laundering and providing services to individuals involved in illegal activities.

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Bitzlato Partially Restores User Access Republished from Source https://blockchain.news/news/bitzlato-partially-restores-user-access via https://blockchain.news/RSS/