New narratives began to form:
● “Long-term utility over short-term gains”
● “Technical solutions for scalability”
● “Layer 1 vs Layer 2”

The tone of the industry became more introspective, with communities asking tougher questions and demanding real value.

2020–2021: The DeFi summer, NFTs and GameFi
Crypto came roaring back. The DeFi boom brought the idea of yield farming, flash loans, and truly decentralized trading to life. Then came NFTs, and suddenly crypto was part of pop culture. GameFi and play-to-earn models made crypto accessible to younger audiences and gamers.

Narratives of the time:
● “Passive income through DeFi”
● “Digital ownership is the next frontier”
● “NFTs are art, identity, and access”
But as with every wave, hype outpaced fundamentals — and in 2022, the market corrected again.

2022–2023: Regulation, collapse, and consolidation
The fall of Terra, the FTX scandal, and a string of bankruptcies shook the industry. Confidence dipped. Regulation moved to the forefront — from the U.S. to Asia, governments began shaping the industry.
New ideas emerged:
● “Not all tokens deserve to exist”
● “Audits and transparency are not optional”
● “Regulation is a tool, not the enemy”
During this phase, traders and analysts turned to more structured platforms like the crypto calendar — a comprehensive hub for crypto news and events — to stay ahead. Rather than chasing price pumps, they started tracking key events: lawsuits, forks, token burns, integrations, exchange listings — and even leadership changes.

2024–2025: From hype to infrastructure — the rise of RWA
Today, crypto’s most important narrative is real-world integration. Tokenization of assets like real estate, bonds, and commodities — known as RWA (real-world assets) — is becoming a dominant theme. Institutions like BlackRock are exploring crypto-based ETFs. Central banks are piloting CBDCs.

Current narratives:
● “Crypto is the infrastructure for modern finance”
● “Everything will be tokenized”
● “Institutions are here, and they’re staying”
Crypto is no longer trying to replace traditional finance — it’s becoming part of it. That’s why tracking real milestones matters more than ever. Event-based intelligence platforms like crypto calendar — often referenced on crypto news twitter — have become essential for mapping the industry in real time.

Why narrative matters in crypto
Price is just the surface. Narratives are the current underneath. A token might surge without a product — if the narrative is strong. Another might stagnate despite technology — if it’s framed wrong.
Smart investors don’t just follow trends — they decode them. They see where attention is going next.

Final thoughts
Since 2017, crypto has matured from an idea to infrastructure. The narratives have changed. The audience has changed. But one thing has stayed the same — the need for context.
To thrive in blockchain, you need more than headlines. You need rhythm, timing, and clarity. That’s exactly what CryptoCalendar offers — a living, breathing engine of event-driven crypto knowledge.

Because in crypto, knowing the “when” is just as important as knowing the “what.”

The post In the rhythm of blockchain: how the crypto narrative evolved from 2017 to 2025 — from ICOs to RWAs appeared first on Crypto World News.

The Role of Oracle Networks

Nazarov explained that blockchains inherently generate consensus on transactions, private key signatures, token ledgers, and smart contracts. However, they do not extend this consensus to external elements like data, computation, and cross-chain communication. This is where Oracle networks, particularly decentralized ones pioneered by Chainlink, play a crucial role. They ensure the security and reliability of data fed into decentralized finance (DeFi), computations outside the blockchain, and connectivity among various systems.

Chainlink’s Oracle networks have processed transactions worth approximately a trillion dollars, underlining their significance in the blockchain world. These networks enable advanced blockchain functionalities by providing secure and reliable external data and computations. Nazarov compared this to the evolution of web applications, which became more sophisticated as they could integrate external data and systems.

Nazarov also highlighted the security aspect of Oracle networks. He pointed out that the security model of a blockchain can be compromised if the external data controlling the on-chain state is insecure or easily manipulated. This security is crucial for the execution of advanced functions like DeFi and real-world asset tokens.

Discussing the broader implications, Nazarov touched upon the integration of traditional finance with blockchain technology. He mentioned working with significant financial institutions like ANZ Bank in Australia, which manages over a trillion dollars in assets. This collaboration aims to bridge the gap between traditional financial products and the blockchain ecosystem, leveraging Chainlink’s Oracle networks to enhance the functionality and security of these integrations.

Integration of Real-World Assets

In the second segment of the interview, Nazarov continued to elaborate on the integration of real-world assets (RWAs) with blockchain technology. He emphasized the importance of reliable data access and the role of Chainlink in providing proof of reserves for assets like gold coins.

Nazarov explained that RWAs are defined by their connection to the real world, necessitating accurate and timely data. For instance, gold coins on the blockchain need to correspond to actual gold reserves, a verification process facilitated by Chainlink’s proof of reserves. This process ensures real-time validation rather than relying on annual audits.

He also discussed the natural progression for banks and asset managers in packaging various real-world elements into financial products. This progression is leading towards the development of advanced DeFi protocols and the integration of RWAs with capital markets. Nazarov highlighted the potential of RWAs as valuable collateral in the Web3 ecosystem.

Nazarov then shifted focus to the role of market infrastructures like SWIFT and DTCC in this integration. He noted that these institutions are driven by client demand, which is increasingly favoring blockchain as a superior format for value and transaction management. He detailed Chainlink’s collaboration with SWIFT, aiming to repurpose its widely accepted standards for blockchain interactions. This collaboration would enable banks to continue using SWIFT’s infrastructure, facilitating a smoother transition to blockchain technology.

Discussing the Depository Trust & Clearing Corporation (DTCC), Nazarov emphasized its role in ensuring legally compliant transactions in the U.S. securities industry. He pointed out that while these infrastructures may seem technical, they are fundamental to connecting traditional finance with the blockchain-based decentralized system.

Nazarov also touched upon the current state of the blockchain industry, noting its growth past a trillion dollars and the potential to reach multiple trillions. He contrasted this with the traditional finance world, which manages hundreds of trillions of dollars and is gradually adopting blockchain technology. He highlighted the increasing establishment of dedicated digital asset teams within banks and asset managers, driven by client demand for digital asset products and implementations.

Convergence of TradFi and DeFi

In the third segment of the interview, Nazarov continued to discuss the integration of blockchain technology with traditional finance. He focused on the concept of a unified global internet of contracts and Chainlink’s role in this transformative process.

Nazarov emphasized that traditional finance (TradFi) is, in his view, destined to become the biggest customer of decentralized finance (DeFi). He believes this is an inevitable outcome, driven by the gradual legal clarity emerging around how TradFi can utilize DeFi. Nazarov pointed out that DeFi, due to its public chain nature and higher risk tolerance, offers higher returns, making it attractive to TradFi entities seeking higher yields.

He addressed the misconception of a DeFi versus TradFi dichotomy, explaining that both sectors are fundamentally similar in their transactional motivations, governed by basic economic principles like yield, supply, and demand. The key, according to Nazarov, is making the counterparty in DeFi transactions cryptographically reliable, surpassing the reliability of traditional counterparts.

Nazarov outlined Chainlink’s strategy, which involves creating widely adopted standards in the public blockchain world and extending these standards to capital markets for data, computation, and cross-chain communications. This approach aims to ensure that whether in Web3 or capital markets, entities would rely on the same secure and reliable standards for transactions.

Discussing the future, Nazarov envisioned a world where institutional-grade financial products are accessible to all, facilitated by blockchain technology. He anticipates a market where individuals can access tokenized assets like private equity, carbon credits, and insurance cash flows. This vision is predicated on the idea that blockchain can simplify the complexities associated with these assets, making them more accessible and appealing to a broader market.

Nazarov compared the evolution of this global internet of contracts to the development of the internet of information. He drew parallels between the early, disjointed stages of the internet and the current state of blockchain technology. Just as the internet evolved to become a unified platform for information exchange, Nazarov sees blockchain evolving into a global internet of contracts, where standards like Chainlink’s Cross-Chain Interoperability Protocol (CCIP) play a crucial role in connecting different blockchain networks.

Chainlink’s Strategy and Vision

In the fourth segment ofthe interview, Nazarov took a closer look at the future of Chainlink and its role in unifying traditional finance (TradFi) and decentralized finance (DeFi). He discussed the convergence of these two worlds into a single global internet of contracts, emphasizing the importance of security and trust in this transition.

Nazarov explained that the goal is to have a world where high-value transactions and computations are settled and automated through Chainlink. He envisions two parallel worlds of contracts – one in the public blockchain domain and the other in traditional finance – eventually merging into a unified global system. This convergence will depend on the security provided by systems like Chainlink, which go beyond what’s inherent in blockchains.

He highlighted that Chainlink has processed transactions worth approximately a trillion dollars, a figure he considers low compared to the potential value flow through various tokens, real-world assets (RWAs), and DeFi protocols. Nazarov sees the industry in its early to mid-stages, with significant growth expected as more capital market participants adopt standards like Chainlink for data and cross-chain transactions.

Addressing the legal and regulatory challenges, Nazarov acknowledged that these are hurdles in integrating TradFi with blockchain technology. He suggested that the pace of integration would correlate with the clarity of legal frameworks in different regions. Chainlink, he noted, is working on solutions like Deco, which can verify identity information while maintaining privacy and legal compliance.

Nazarov also touched on the cultural differences between the DeFi/blockchain space and TradFi, particularly regarding Anti-Money Laundering (AML), Know Your Customer (KYC), and Office of Foreign Assets Control (OFAC) compliance. He believes there will be a market for protocols and assets that don’t require such compliance as long as they adhere to local laws and personal preferences.

Blockchain as a Solution During Times of Economic Crisis

In the final segment of the interview, the Chainlink co-founder shared his thoughts on the future of blockchain technology, particularly in the context of potential economic crises. He discussed how blockchain could become a key technology in creating a more transparent and reliable economic system.

Nazarov expressed his belief that the blockchain industry will increasingly decouple from the larger tech sector due to its unique attributes as a failure-resistant technology. He sees blockchain as not just a luxury in times of economic stability but as a crucial solution during economic crises. According to Nazarov, the world is potentially heading towards an economic crisis due to complex and significant economic decisions made by major global actors.

He anticipates that blockchain technology will be adopted for its substantial benefits, such as transparency and reliability, especially in a market where people seek to interact with a wider range of assets. Nazarov also believes that in the event of an economic crisis, blockchain will be the solution to many problems, offering a system that relies on cryptographic proof rather than traditional brand-based trust.

Nazarov envisions a world where ownership is not just a password to a database but is controlled by private keys on personal devices. He sees a future where reliance on insurance companies is based on cryptographically verifiable mathematical truths, ensuring that policies cannot deviate from their promises.

He acknowledged his tendency to be pessimistic about the current global financial system’s sustainability, expressing surprise at its continued functioning. However, Nazarov remains convinced that there will be a global correction back to reality, and blockchain technologies will play a crucial role in addressing issues like solvency and asset control.

https://youtube.com/watch?v=Zp7pHetQYvc%3Ffeature%3Doembed

Featured Image via Pixabay

Source: Read Full Article

The post Insights from Chainlink Co-Founder on Blockchain's Evolution appeared first on Crypto World News.

MDE is a national exchange promoted by Mongolia’s central government, which, in light of intensifying research into blockchain technology and its applications, will vigorously promote the combination of industry and blockchain + and a range of implementable applications and projects.

With the aim of responding to the increasing popularity of and development trends in blockchain technology, MDE obtained the right to use 300 hectares of land in Mongolia’s Dzamiin-Üüd Free Trade Zone for 45 years on June 20, 2022. The business licenses it obtained include legal business licenses for digital asset trading, lottery, gaming, jockey clubs, energy, and duty-free trade. On June 30, 2022, it received $50 million in the first round of financing from New Mongolian King Group.

Under this initiative, MDE also launched the sale of high-quality Mongolian cattle and sheep, along with the possibility of land ownership in the area in the form of NFTs called HeySheep, which will be sold on major NFT platforms. The issuance of these HeySheeps represents one of the largest real economy blockchain+ initiatives in the history of blockchain to date, and has been recognized by industry insiders and commentators around the world. The benchmarking object of HeySheep is real sheep and it is the first NFT in the world to anchor Mongolian sheep. (official website: https://Heysheep.io To jointly create a “Sheep Universe”.

Users who hold related NFTs can enjoy an income from the sale of these cattle and sheep or the income generated by the investment projects on the land. Meanwhile, part of the profits from the sale of the NFTs will be used to repurchase the exchange platform token CGK, and the other part will be used to invest in high-value investment projects operating in Dzamiin-Üüd. In addition, part of the profits obtained by these projects will be given to users who hold NFTs, and part of these profits will continue to be used to repurchase CGK.

Mongolia’s unique geographical conditions and location mean that it can play a more prominent strategic role in the world through such initiatives, and all users who participate in this, and other, initiatives can create mutually beneficial partnerships with Mongolia and drive the bright future of both Mongolia, blockchain users and the technology itself as the new digital economy opens up and Mongolia’s national strength increases.

Website:
http://heysheep.io
https://chinggiskhaan.io

Telegram link: https://t.me/HeySheep

Discord link: https://discord.gg/BCaVHEYgrE

Twitter link: @HeySheepNFT

Media Contact:

Business

[email protected]

The post Mongolia Targets “real economy blockchain+” Growth Through Large-scale NFT land, assets initiative appeared first on Crypto World News.

Coutts observed that when comparing Q3 to Q2 of 2023, the market capitalization of smart contract platforms has decreased by 12%. He also stated that core adoption metrics have suffered, largely due to the Q2 meme coin surge. Despite this, Coutts highlighted that active addresses have shown resilience by being less price-sensitive, decreasing only by a modest 2.9%.

According to Coutts, the overall market drawdown remains at around 70%. He pointed out that Ethereum’s Layer 1 (ETH L1) and Layer 2 (ETH L2) platforms have seen 12-month price increases of 25% and 20%, respectively. In contrast, he noted that alternative Layer 1 platforms (Alt-L1s) have declined by 29%. Coutts stated that this has contributed to Ethereum’s market cap dominance, which has risen to 72%.

Coutts observed that active addresses have slightly decreased by 3% but have shown resilience, indicating a level of user engagement despite a decline in transaction fees and volumes compared to Q2.

Coutts emphasized that the rise in Ethereum’s Layer 2 solutions has been a significant factor in helping the network regain market share from Alt-L1 platforms. He reported that over the past year, active address growth on Layer 2 has outpaced that of Alt-L1s by twice as much, albeit from a lower base.

According to Coutts, Alt-L1 platforms account for 80% of active addresses, but their growth rate is decelerating. He stated that most transactions still occur on Alt-L1 platforms, but the legitimacy of these transactions is unclear. Coutts also noted that despite high transaction throughput and volume, few Alt-L1s are profitable, attributing this to capacity oversupply and sub-optimal market fit.

Coutts reported that Ethereum’s Layer 1 has been highly effective in converting transactions and active addresses into fee revenue, boasting a ratio of 26x for fees to active addresses and 8.4x for fees to transactions. In stark contrast, he noted that Alt-L1s lag behind with a 2.3x and 0.3x ratio, respectively.

Coutts stated that despite a slowdown in adoption and challenges such as liquidity and U.S. regulatory headwinds, the network effects from the incremental increase in active addresses are viewed as positive. He also mentioned that technical scalability improvements and falling costs are contributing to network growth.

Coutts concluded that while the rate of adoption has slowed down, the positive network effects stemming from a modest increase in active addresses during the 2022/2023 bear market are noteworthy. These effects persist despite challenges like liquidity issues and U.S. regulatory constraints. Coutts also noted that technological advancements in scalability and decreasing operational costs are gradually aiding the growth of smart contract platforms. As for Ethereum, despite uncertainties in the treasury market that could challenge existing theses, Coutts remains largely optimistic. On the flip side, he maintains a less promising future for many Alt-L1 platforms due to lackluster demand and ineffective tokenomics.

Featured Image via Midjourney

Source: Read Full Article

The post Detailed Breakdown of Jamie Coutts' Q3 2023 Report on Smart Contract Platforms appeared first on Crypto World News.

One of the most noteworthy developments, as highlighted by Pantera Capital, is the potential approval of spot Bitcoin exchange-traded funds (ETFs). The firm points out that BlackRock’s recent filing for a Bitcoin ETF is particularly significant for two reasons. Firstly, as the world’s largest asset manager, BlackRock’s decision to further invest in the digital asset sector is seen by Pantera Capital as a strong endorsement of the asset class’s long-term viability. Secondly, Pantera Capital suggests that the introduction of a Bitcoin ETF could accelerate demand for digital assets more quickly than many expect.

Recent legal developments have also caught the attention of Pantera Capital, increasing the likelihood of Bitcoin ETF approvals. The firm notes that a U.S. appeals court recently ruled in favor of Grayscale regarding their lawsuit against the Securities and Exchange Commission (SEC) for denying their Bitcoin ETF application last year. Pantera Capital considers this ruling a positive indicator for the approval of future Bitcoin ETF applications from firms like BlackRock and Fidelity, possibly as early as mid-October.

According to Pantera Capital, although still murky, the regulatory landscape is showing signs of improvement. The firm observes that recent court decisions seem to be challenging the SEC’s “regulation by enforcement approach.” For instance, Pantera Capital points out that a court recently sided with Ripple in its lawsuit against the SEC, interpreting digital assets as not being securities. Pantera Capital considers this a significant development, as it suggests that regulations surrounding digital assets should be more nuanced. The firm argues that such clarity is crucial for consumer protection and entrepreneurs who require clear guidelines to innovate confidently.

Lastly, Pantera Capital likens the current state of the crypto industry to the internet’s transition from dial-up to broadband two decades ago. The firm highlights the progress in Ethereum scaling solutions like Arbitrum and Optimism, which have led to faster transaction speeds and lower costs. Pantera Capital believes that these advancements in blockchain infrastructure will pave the way for a wide array of new applications and use cases, the full extent of which has yet to be realized.

Featured Image via Midjourney

Source: Read Full Article

The post Pantera Capital Highlights 3 Key Catalysts for Digital Asset Revival appeared first on Crypto World News.

Citi is a leading banking partner for institutions with cross-border needs and offers a wide range of financial products and services. Citi operates in nearly 160 countries and jurisdictions. Citi Treasury and Trade Solutions provides an integrated suite of cash management and trade finance services to various clients, including multinational corporations, financial institutions, and public sector organizations.

The press release states that institutional clients increasingly require financial services that are available around the clock and can be programmed. Citi Token Services aims to meet this demand by offering cross-border payments, liquidity management, and automated trade finance solutions on a 24/7 basis.

Shahmir Khaliq, the Global Head of Services at Citi, emphasized that digital asset technologies could significantly improve the regulated financial system. He mentioned that the development of Citi Token Services is part of Citi’s ongoing journey to provide real-time, always-available, next-generation transaction banking services to institutional clients. Khaliq also noted that this initiative complements Citi’s work on the Regulated Liability Network, which aims to create interoperable digital asset solutions across multiple banks.

Citi says it collaborated with Maersk and a canal authority to digitize solutions that serve the same purpose as traditional bank guarantees and letters of credit. Marie-Laure Martin, the Regional Treasury Manager for the Americas at Maersk, stated that they were pleased to have collaborated with Citi in the successful test pilots. She added that the pilot’s innovative solution has promising applications in the field of trade finance.

Citi also mentions that the technology used in the pilot is expected to significantly reduce transaction processing times, transforming them from days to mere minutes.

For cash management, Citi Token Services has been applied to a global pilot program that allows clients to transfer liquidity between Citi branches on a 24/7 basis. Ryan Rugg, the Global Head of Digital Assets at Citi Treasury and Trade Solutions, stated that the service offers corporate treasurers a new tool for managing global liquidity in a more efficient manner. Rugg also mentioned that the service aims to reduce frictions related to cut-off times and service gaps.

The press release notes that the blockchain technology used for Citi Token Services is a private and permissioned system owned and managed by Citi and that clients will not be required to host a blockchain node to access these services.

Featured Image via Unsplash

Source: Read Full Article

The post Citi Introduces Blockchain Token Services for Institutional Finance appeared first on Crypto World News.

DeFi has already demonstrated its potential to disrupt traditional financial systems by offering decentralized and permissionless access to various financial services. Quidi takes this a step further by introducing a novel concept such as automated protocol. Unlike conventional automated market makers, Quidi’s Protocol continuously sources liquidity from multiple pools and protocols in real-time. This cutting-edge approach ensures that users always have access to the best possible liquidity and competitive trading rates, no matter the market conditions.

The Quidi protocol places a strong emphasis on community governance and inclusivity. QUI token holders have a say in the platform’s decision-making process, enabling them to actively participate in shaping the protocol’s future. This democratic approach empowers users and aligns the interests of the community with the long-term success of the platform.

One of the standout features of Quidi is its liquidity pools. These automated yield farming strategies enable users to maximize their returns by automatically reallocating their assets across different DeFi protocols based on the latest market trends and risk profiles. The pools remove the complexities of manual yield farming and empower users to make the most of their assets without extensive market knowledge.

Quidi is not just about efficiency and ease of use; it also prioritizes security and trust. The protocol undergoes regular security audits to ensure that user funds are safeguarded at all times. Additionally, Quidi’s transparent and open-source nature allows users to scrutinize the protocol’s operations and gain confidence in their financial decisions.

The impact of Quidi goes beyond its immediate user base. By aggregating liquidity from multiple sources and optimizing yield farming strategies, Quidi contributes to the overall liquidity and stability of the DeFi ecosystem. This, in turn, attracts more users and projects to the DeFi space, creating a virtuous cycle of growth and innovation.

As Quidi continues to evolve, its commitment to constant improvement and innovation remains unwavering. The platform’s development roadmap includes exciting features such as decentralized options trading and enhanced cross-chain compatibility, expanding the horizons of DeFi possibilities even further.

In conclusion, Quidi is a shining example of how DeFi protocols can redefine liquidity provision, yield farming, and user empowerment. Its protocol, community governance, and liquidity pools set the stage for a more inclusive, secure, and efficient financial future. As Quidi continues to make strides in the DeFi space, it paves the way for a new era of financial independence and accessibility for users worldwide.

The post Quidi Protocol: About DeFi Liquidity and Financial Independence appeared first on Crypto World News.

Drawing parallels between the early skepticism surrounding the internet and the current state of blockchain, Sheffield outlined what he sees as Visa’s ongoing initiatives and future plans in leveraging blockchain for global settlements, cross-border disbursements, and client education.

According to Sheffield, the internet faced skepticism in its early days, with critics doubting its potential to revolutionize various aspects of daily life. However, as he pointed out, technological advancements like broadband, Wi-Fi, and 3G connections helped the internet evolve and become an integral part of modern society. Sheffield argues that blockchain technology is at a similar juncture, facing skepticism but also poised for significant growth and adoption.

Sheffield highlighted that Visa played a historical role in helping the internet scale and emphasized that the company sees significant potential for blockchain networks. He suggests that Visa aims to be at the forefront of this technological evolution, just as it was with the internet.

Sheffield stated that Visa has been a pioneer in testing stablecoin settlements on the Ethereum blockchain, in collaboration with Crypto.com. This year, he says the company expanded its settlement pilot to include both issuer and acquirer partners and integrated the Solana blockchain, known for its ability to process over 2,000 transactions per second. According to Sheffield, Visa’s network in the future could integrate multiple currencies, blockchain networks, stablecoins, and Central Bank Digital Currencies (CBDCs).

Sheffield noted that cross-border money movement has long been fraught with challenges. He mentioned Visa Direct, their push payments platform, which can reach nearly 7 billion endpoints globally and enables same-day payments for various use cases like rideshare drivers, insurance payouts, and more. Sheffield went on to say that Visa is exploring the possibility of enabling clients to push funds over blockchain networks in approved stablecoins to next-generation digital wallets.

According to Sheffield, Visa is committed to helping its clients understand and leverage blockchain technology. Through Visa Consulting and Analytics, the company is apparently conducting deep research into the blockchain space, sharing its findings, and helping clients navigate the complexities of this evolving technology.

Sheffield concluded by emphasizing the need for financial institutions to develop a blockchain strategy. He suggests that ignoring the transformative potential of blockchain could be a strategic misstep akin to underestimating the internet in its early days.

Featured Image via Pixabay

Source: Read Full Article

The post Cuy Sheffield on Visa's Vision for Blockchain's Future in Payments and Settlements appeared first on Crypto World News.

A major highlight is the industry’s preparation to reduce a day from the settlement cycles of the world’s largest capital market. This move is in anticipation of imminent changes in other settlement cycles, the adoption of digital currencies, and the potential for atomic settlement within the next half-decade.

Central Securities Depositories (CSDs) worldwide are grappling with two primary challenges: accelerating transformation and innovation, especially in settlements and digital assets, and transitioning from outdated infrastructures. The focus is shifting from managing individual platforms to overseeing a broader ecosystem.

Geographical nuances exist. Latin America is witnessing a significant consolidation project involving Colombia, Peru, and Chile. Europe is reevaluating the benefits of clearing competition. Meanwhile, Asia and Latin America are driving financial market participation through digitization, whereas North America and Europe are emphasizing common industry platforms.

The report indicates a strong trend towards shorter settlement cycles. A staggering 89% of survey participants anticipate their local settlement cycles to transition to T+0 or T+1 within five years. This shift will have profound implications, affecting various departments within organizations differently based on their global location.

Distributed Ledger Technology (DLT) and digital assets are gaining traction. In 2023, 74% of respondents are involved in DLT and digital asset initiatives, up from 47% in 2022. While cryptocurrency activities persist, the industry’s focus seems to be shifting toward DLT and tokenization. As these technologies transition to live environments, the industry is optimistic about operational digital cash within five years, facilitated by Central Bank Digital Currencies (CBDCs) and other commercial mechanisms.

The report concludes that the future momentum of DLT and digital assets hinges on the sell-side’s ability to engage the buy-side effectively and the potential to modify industry processes to harness the advantages DLT presents.

Featured Image Credit: Photo / illustration by geralt via Pixabay

Source: Read Full Article

The post DLT & Digital Assets Growth: Citi's 2023 Securities Evolution appeared first on Crypto World News.

• Friend.tech has called out a crypto news website that alleged that the platform’s database was leaked. 
• The Block previously reported that the details of over 100,000 friend.tech users had been leaked. 
• The social platform clarified that the user information was taken from its public API. 

Friend.tech, the web3 social platform recently launched on Coinbase’s layer 2 Base, has called out crypto news website The Block for incorrectly reporting a database leak. The website published an article earlier today, claiming that a data leak had revealed the ETH addresses of more than 100,000 friend.tech users. 

Friend.tech Says “Leaked” Addresses Were Publicly Available

Friend.tech took to X (formerly Twitter) earlier today to call out The Block for alleging a database leak that supposedly revealed information about 101,000 of its users, including wallet addresses on Base, X usernames, X name, etc. The news outlet cited a Github repository shared by Yearn Finance developer Banteng, which contained the user database in question.

Friend.tech clarified that the user information was gathered by scraping their public API, which reportedly shows the association between public wallet addresses and public Twitter usernames. “It’s like saying someone hacked you by looking at your public Twitter feed,” the social platform added. 

The news website has since altered its article and made corrections suggesting that the user data was publicly available and not obtained from a leak. However, the crypto community on X criticized the website for spreading FUD through inaccurate reports. The Block’s Director of Research got into a heated debate while defending the actions of his team. 

I think the debate goes into whether there was some public database (which should have been private) already linking the accounts and addresses that @bantg found and published or whether Bantg manually scraped and connected the accounts and addresses together.

The incident highlighted friend/tech’s popularity, given that it managed to accumulate more than 100,000 users since its launch on August 10, 2023. Data from DeFiLlama showed that the fees generated by the social platform exceeded $25 million. Data from Dune Analytics showed that the platform’s cumulative trading volume was nearly $56 million. The social platform has added more than 17,000 new users over the past 24 hours. 

Source: Read Full Article

The post Friend.tech Calls Out Incorrect Reports Alleging Data Leak appeared first on Crypto World News.

• 3AC-backed Open Exchange has partnered with Gameplan, UFC star Khabib Nurmagomedov’s sports metaverse. 
• OPNX’s metaverse venture will allow fans to interact with their sports idols and participate in web3 events. 
• OPNX’s new metaverse venture prompted the price of its governance token OX to jump 9%. 

Open Exchange has announced a partnership with Gameplan, the sports metaverse launched by UFC champion Khabib Nurmagomedov. OPNX’s latest partnership, which marks its first venture into the metaverse, aims to foster the next wave of crypto innovation and adoption and act as a gateway to usher sports fans and athletes into the metaverse. 

Open Exchange & Khabib Aim To Revolutionize Sports With Metaverse

Gameplan was launched by Khabib Nurmagomedov and Magomed Kurbaitaev in February 2023. The sports metaverse aims to become a one-stop shop for all interactions between athletes and fans, as well as sports events, gaming, shopping, etc. The platform has tapped high-profile athletes in other sports like football, boxing, and wrestling as well. 

1/ OPNX is absolutely thrilled to announce that we are now partnered with UFC Champion Khabib Nurmegamedov's new sports metaverse, Gameplan $OX #Khabib #UFC #Gameplan #OxPower

Read what Khabib has to say about the new partnership here:https://t.co/Ja061sCywE pic.twitter.com/tuv4fbxbVP

Gameplan would also allow users to own a stake in their favorite sports teams and participate in the web3 platform’s decision-making through token-based voting. Users would also be able to use Gameplan’s native token to participate in decisions related to team strategies, management, etc. 

As an athlete with big experience, I understand sport and what it needs. I hope this partnership between OPNX and Gameplan will revolutionize the sports industry.”

Open Exchange CEO Leslie Lamb stated that crypto and mixed martial arts (MMA) had various similarities and added that MMA fighters brought the energy that crypto needed amid the ongoing bear market. UFC, a premier MMA promotion company, previously partnered with Vechain, an enterprise-grade layer-1 smart contract platform. 

Open Exchange’s new metaverse venture with Gameplan led to an increase of over 9% in the price of its governance token OX. Data from CoinMarketCap showed that OX was trading at $0.037 at the time of writing. 

Source: Read Full Article

The post Open Exchange’s OX Token Up 10% Following Metaverse Venture With UFC Star appeared first on Crypto World News.

• The United States SEC has filed a response to Coinbase’s motion to dismiss the lawsuit filed against it. 
• The securities regulator asserted that the crypto exchange may have knowingly violated securities laws. 
• The SEC said in its latest filing that it would oppose any motion for judgement that the crypto exchange might file. 
• The regulator also dismissed Coinbase’s suggestion that an IPO approval would protect it from enforcement actions in the future. 

The U.S. Securities and Exchange Commission has asserted that American crypto giant Coinbase may have knowingly violated securities laws. In a filing made with the Manhattan Federal Court, the securities regulator claimed that the crypto exchange was aware that its crypto listings would be under the purview of federal securities laws. 

SEC Will Oppose Any Motion For Judgement From Coinbase

According to the response sent to U.S. District Judge Katherine Polk Failla, the SEC asked the court to disregard arguments previously made by Coinbase regarding the legality of its crypto listings, citing that the exchange was a multi-billion dollar entity with access to sophisticated legal counsel. The securities regulator further took issue with the crypto exchange’s argument that the approval of its IPO confirmed its underlying business and protected it from future enforcement actions. 

The SEC cited Coinbase’s previous court filings which noted that the uncertainty regarding the security status of the tokens listed on the crypto exchange may pose a risk to its investors. 

These actions clearly show that Coinbase understood that the securities laws could apply to its conduct and knew which rules to consider in evaluating the legality of its conduct, but nevertheless made the calculated decision to take on this risk in the name of growing its business.”

The SEC believes that the arguments made by Coinbase are flawed and highlighted that it had adopted the very legal framework as a basis for making listing decisions that it claimed had no applicability to its activities. The response filed with Judge Polk requested the denial of the exchange’s motion to have the lawsuit dismissed. The regulator also stated that it would oppose any motion for judgement from the crypto exchange.

Source: Read Full Article

The post SEC Says Coinbase May Have Knowingly Violated Securities Laws appeared first on Crypto World News.