crtypto & forex news

TL;DR Tether says assets held with offshore banking partner EQIBank represent less than 0.034% of its total group assets. U.S. authorities are seeking forfeiture of tens of millions of dollars tied to EQIBank payment processor Capstone. Tether says it had no knowledge of the conduct alleged by prosecutors and has not disclosed the exact amount it holds with the bank. Tether is trying to contain concerns around one of its banking counterparties after U.S. authorities seized assets connected with EQIBank’s payment infrastructure. The USDT issuer says its exposure to EQIBank amounts to less than 0.034% of Tether’s total group assets. Based on Tether’s latest reported asset base of roughly $187.75 billion, that percentage would imply a ceiling below approximately $64 million. The company has not disclosed the actual figure. The Seizure Is About EQIBank’s Payment Processor The legal action involves Capstone Limited, a payment processor used by EQIBank to move customer funds throu...

TL;DR Lido DAO Vote #214 has passed with 58.2 million LDO participating in favor. The vote implements Dual Governance V1 parameters, giving stETH holders a new mechanism to contest certain governance actions. The associated emergency governance delay has been extended to 14 days. Lido’s long-running effort to give stETH holders more influence over protocol governance has moved another step forward. Onchain Vote #214 has passed, implementing parameters associated with Lido’s Dual Governance system on Ethereum mainnet. The vote received support from 58.2 million LDO participating tokens. Dual Governance Creates A Second Check On LDO Holders Traditional DAO governance gives voting power to holders of the governance token. For Lido, that means LDO. The complication is that the people economically exposed to the staking protocol are not necessarily the same people holding large amounts of LDO. stETH holders may have substantial value inside Lido while having little direct ab...

TL;DR Ethena is expanding the basis-trade strategy behind USDe into tokenized U.S. equities. Binance bStocks can be used as tokenized spot assets while equity perpetual futures hedge the market exposure. The strategy broadens USDe’s backing model beyond crypto-native basis trades, but it also introduces equity-market and venue-specific risks. Ethena is pushing the trading strategy behind USDe beyond crypto assets and into tokenized stocks. The protocol plans to use Binance bStocks as spot exposure while taking offsetting positions in equity perpetual futures, extending the delta-neutral structure that has historically supported USDe into traditional equity markets. The Basic Trade Is Familiar Even If The Asset Is New Ethena’s model has always depended on balancing long and short exposure. If the protocol holds an asset while shorting a corresponding derivative, directional price movements can largely offset one another. The return comes instead from the economics around tha...

TL;DR Magic Eden says old EVM marketplace approvals left more than $5.7 million worth of NFTs exposed to an exploit in Limit Break’s Payment Processor V2. A whitehat rescue operation moved 23,155 vulnerable NFTs before they could be stolen. Magic Eden says no live listings were affected, but users who interacted with the old marketplace should revoke lingering approvals. An old smart contract can remain dangerous long after the product built around it has disappeared. Magic Eden is dealing with exactly that problem after legacy approvals from its former EVM marketplace left thousands of NFTs exposed to a vulnerability in Limit Break’s Payment Processor V2. The marketplace says more than $5.7 million worth of NFTs were at risk. The Marketplace Was Closed, But The Approvals Were Still Live Magic Eden stopped using Payment Processor V2 in October 2024 and later shut down its EVM marketplace. That did not automatically revoke permissions users had previously granted to the cont...

Kraken has launched Kraken Borrow US for eligible customers in 48 states. Users can borrow against supported assets to buy additional crypto, with total buying power of up to three times eligible collateral value. The product has no fixed repayment deadline or minimum payment, but interest and liquidation risk still apply. **ID:** B25-01 **Site:** Bitcoinist **Status:** READY **Author:** Bitcoinist Editorial Team **Focus Keyword:** Kraken **Image Keyword:** Lending **Category:** Technology **Tags:** Kraken, Borrowing, Crypto, Lending, US **Primary Source:** https://ift.tt/jpn3JMD Borrowing Only Kicks In After Cash Is Used Kraken’s model is designed so a customer’s available cash is spent first. Borrowed funds cover the portion of a purchase that exceeds the user’s USD balance. The amount available depends on the value and eligibility of assets held as collateral, with total buying power reaching as much as three times the value of eligible holdings. Kraken says user...

TL;DR Kamino has opened a lending market for tGBP, a British-pound stablecoin issued by BCP Technologies. Users can supply tGBP or borrow it against collateral including USDC, cbBTC and JitoSOL. The market is curated by Steakhouse Financial and creates sterling-denominated credit on Solana. Dollar stablecoins dominate DeFi , but Kamino is adding a different currency to the mix. The Solana lending protocol has opened a market for tGBP, allowing users to borrow or supply a stablecoin designed to track the British pound. The market is curated by Steakhouse Financial. Sterling Can Now Be Borrowed Against Crypto Collateral BCP Technologies issues tGBP as a token intended to track the pound on a one-to-one basis. The firm is registered as a cryptoasset business with the U.K.’s Financial Conduct Authority. On Kamino, users can supply tGBP to the lending market or borrow sterling-denominated liquidity against supported collateral including USDC, cbBTC and JitoSOL. That creates a...

TL;DR Forward Industries has agreed to sell 3.125 million shares to one institutional investor at $8 each. The registered direct offering is expected to raise about $25 million before fees. The company says it intends to use the net proceeds to acquire additional SOL for its corporate treasury. Forward Industries is going back to the equity market to grow its Solana treasury. The Nasdaq-listed company has entered into a registered direct offering with a single institutional investor, agreeing to sell 3.125 million common shares at $8 apiece. Gross proceeds are expected to come to approximately $25 million before fees and expenses. The Capital Has A Specific Destination: More SOL Forward says it intends to use the net proceeds to acquire additional SOL. That makes the financing unusually straightforward from a crypto perspective. The company is issuing equity, receiving cash and planning to convert the resulting capital into a larger Solana position. Forward describes itsel...