Market Update: October 26, 2022

  /  2 minutes read

A regulated, institutional-grade, certified, and independently inspected hot and cold storage custody platform for blue-chip NFTs was introduced by the Swiss-based cryptocurrency company Seba Bank. Seba Bank was one of the earliest banks to provide institutional custody and solutions to its vast clientele. Seba emphasizes that they undertake due diligence at the client’s request before deciding whether to grant custody for a specific NFT, even if they claim the custody solution is not limited to top collections. Customers may incorporate and manage their NFTs alongside their other digital assets because the custody platform is integrated with their bank accounts.

Source : Insidebitcoin

According to a recently passed proposal-131 on DeFi protocol Compound’s governance forum, the lending protocol is pausing the supply of four tokens as lending collateral on its platform to protect users against potential attacks involving price manipulation. Users will no longer be able to deposit’s YFI, 0x’s ZRX, Basic Attention Token (BAT), and Maker’s MKR as collateral to take loans. The lending protocol is halting the supply of four tokens used as lending collateral on its platform, per a recently approved proposal-131 on the governance forum for the DeFi protocol Compound, to safeguard consumers from any attacks involving price manipulation. Yearn. finance’s YFI, 0x’s ZRX, Basic Attention Token (BAT), and Maker’s MKR will no longer be accepted as collateral for loans by users. This shows the proactive nature of serious builders in the space and the continued efforts to keep a resilient system operational in the current crypto winter.

Source: Assets-global

Block Inc.’s mobile phone payment processing app ‘Cash App’ has reportedly added support for transactions via the Bitcoin Lightning Network. The new feature allows Cash App users to send and receive Bitcoin on the faster, more efficient layer-2 protocol. Cash App has already provided Lightning Network compatibility for Bitcoin transactions in a limited capacity-customers could pay invoices by scanning Lightning QR codes. Unless otherwise specified, all Cash App transactions using QR codes will default through Lightning. Only United States customers, except for New York state residents, are eligible for this new feature, which has a transaction limit of $999 per seven days. The app has supported Layer 1 bitcoin transactions since 2018, but the introduction of the lightning network can propel revenue and further boost mass adoption.

Source: v2.cimg

That’s it for today, see you tomorrow


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