Lazard bets on asset tokenization with Bitfinex and SkyBridge

Lazard (NYSE:LAZ), a 175-year-old asset manager, has signed an agreement with Bitfinex Securities and SkyBridge Invest to create tokenized funds regulated by the Astana Financial Services Authority in Kazakhstan. Bitfinex will manage tokenization, while SkyBridge will oversee fund management and brokerage. These products will provide retail access to previously institution-exclusive funds focused on global and emerging markets.

$1 million theft on Base blockchain reveals security flaws

An unverified loan contract exploit on the Base blockchain led to a $1 million theft. The attacker manipulated the Wrapped Ether (WETH) price using a low-liquidity oracle, diverting funds to Ethereum and Tornado Cash. Cyvers Alerts experts suggest that stronger oracles and rigorous contract security checks could prevent similar attacks on DeFi platforms.

North Korean hackers steal $3 billion through fake blockchain game

Kaspersky Lab reported that the Lazarus Group, a North Korean hacker group, stole $3 billion in crypto through a fake blockchain game. Exploiting a zero-day vulnerability in Google Chrome, they breached wallets via malware. This operation, active from 2016 to 2022, involved laundering $200 million in cryptocurrency.

Spot Bitcoin ETFs attract capital with continued focus on IBIT

On October 24, Bitcoin ETFs recorded net inflows of $188.11 million. BlackRock’s iShares Bitcoin Trust (NASDAQ:IBIT) led with $165.54 million, totaling $23.69 billion in cumulative inflows since October 14. Bitwise Bitcoin ETF (AMEX:BITB) attracted $29.63 million, while Grayscale Bitcoin Trust (AMEX:GBTC) saw $7.05 million in outflows. Ethereum ETFs marked their third day of positive flows, with iShares Ethereum Trust (NASDAQ:ETHA) drawing $2.3 million.

Satoshi-era miner moves 2010 Bitcoin, suggesting possible sale

An anonymous Satoshi-era miner moved a portion of their 50 BTC rewards mined in 2010, sending 2.99 BTC to a new wallet and the remainder to a change wallet. Arkham Intelligence data reveals that the new wallet transferred $1.5 million to exchanges, including OKX and Coinbase, indicating a possible sale. Despite the activity, the miner is unlikely to be Satoshi based on network transaction analysis.

MicroStrategy shares surge with Bitcoin investment

MicroStrategy (NASDAQ:MSTR) reached a 25-year high in stock price, hitting $241.2, driven by its significant Bitcoin investment strategy since 2020. This approach has outperformed major corporations, including Microsoft (NASDAQ:MSFT). With current Bitcoin holdings valued at $17 billion, MicroStrategy remains the largest corporate holder of BTC, propelling its market cap to $46.8 billion.

Metaplanet sees 116% gains with Bitcoin accumulation

Tokyo-listed Metaplanet achieved a 116% shareholder return in October, boosted by its substantial Bitcoin purchases. The company acquired over 450 BTC this month, raising its holdings to 855.5 BTC, valued at $56.1 million. Inspired by MicroStrategy, Metaplanet introduced “BTC Yield” as a KPI, calculating stock appreciation based on Bitcoin holdings, providing quarterly updates on BTC’s impact for shareholders.

JPMorgan views stablecoins as superior to tokenized treasuries

JPMorgan (NYSE:JPM) suggests that tokenized treasury bonds are unlikely to fully replace stablecoins. While they may absorb some idle funds, tokenized treasuries face regulatory disadvantages and lower liquidity compared to stablecoins. With a $180 billion market, stablecoins offer high liquidity and low fees, favoring ongoing trades. Bank analysts believe tokenized treasuries may only replace a fraction of stablecoins due to these limitations.

Ripple challenges SEC’s decision on institutional XRP sales

Ripple Labs filed an appeal with the U.S. Court of Appeals, disputing the SEC’s decision classifying its institutional XRP (COIN:XRPUSD) sales as securities transactions. Ripple’s chief legal officer, Stuart Alderoty, confirmed that the appeal prevents the SEC from presenting new evidence or demanding more documents. Ripple argues that the court misapplied the Howey test in determining these transactions’ nature. This follows an earlier ruling that deemed XRP non-securities in programmatic sales on exchanges.

Fireblocks launches $1 million grant for projects using stablecoin PYUSD

Fireblocks announced a $1 million grant program to support companies developing blockchain projects using the PayPal USD stablecoin (COIN:PYUSDUSD). Selected projects can receive up to $60,000 each, encouraging the development of innovative payment solutions.

South Korea prepares crypto rules for international transactions

South Korea’s Ministry of Finance will implement cryptocurrency regulations for international transactions by the end of 2025. Korean companies facilitating cross-border digital transactions must register and report monthly to the Bank of Korea. The new framework categorizes virtual assets separately from traditional exchange and payment systems, identifying them as a “third type” of asset. This aims to safeguard the market from illicit activities, enhancing security in the digital asset sector.

Netherlands proposes tax transparency for crypto services

The Netherlands has opened a consultation on a bill requiring cryptocurrency services to share user data with tax authorities. In response to the European Union’s DAC8 directive, the measure seeks to enhance transparency and combat tax evasion. State Secretary Folkert Idsinga states that data sharing will facilitate EU countries’ cooperation. The public consultation ends on November 21, with the bill expected to reach Parliament in 2025.