J.P. Morgan tests Tokenised Funds
J.P. Morgan business unit Onyx Digital Assets, Apollo and several blockchain firms have collaborated to develop a Proof of Concept (PoC) system. This system allows fund managers to tokenise funds so that wealth managers can then purchase and rebalance positions in them. According to the head of Onyx Digital Assets Tyrone Lobban, it will allow for “personalised, highly scalable portfolios”.
dYdX Multi-Million Dollar Loss
A targeted attack against decentralised exchange dYdX has resulted in millions of dollars worth of losses. The attack created liquidation gaps across the exchange’s YFI holdings, forcing it to use $9 million from its v3 insurance fund to resolve the issue. The company has reassured users that $13.5 million remains in the fund, and that no user funds were affected.
Tether Bitcoin Mining Plans
Over the next six months, stablecoin provider Tether is planning to roll out a $500 million investment as part of its plans to expand into Bitcoin mining. The company will focus on developing mining facilities in Uruguay, Paraguay and El Salvador, and will also invest in other miners.
White Hat Hackers Receive Reward from Chainlink
White hat hackers Zach Obront and Or Cyngiser of Trust were awarded $300,000 by Chainlink after discovering a vulnerability in its Verifiable Random Function (VRF) product. The vulnerability would have allowed malicious actors to manipulate the randomness involved so that users were not receiving true randomness rolls but rather those preferable to the actor.
Crypto Popularity in France
A recent study performed by the Organisation for Economic Co-operation and Development (OECD) has revealed that 9.4% of adults in France own cryptocurrency, and that 2.8% own NFTs. Digital assets were also ranked as the second most popular asset type in the country, ranking above listed individual shares.
Disney NFT App
Disney is collaborating with Dapper Labs to release an NFT mobile app. The app will be called ‘Disney Pinnacle’, and will allow users to collect and swap digital ‘pins’, featuring beloved characters from Disney, Pixar and Star Wars.