Discover the latest in the crypto realm with updates on Bitcoin, blockchain, DeFi, NFTs, Web3, and crypto regulation. Coinbase is set to launch spot trading for institutional clients outside the U.S., enabling them to trade Bitcoin and Ether against USD Coin from December 14. The expansion will eventually include retail investors, additional tokens, and features enhancing trading strategies and capital efficiency.
Meanwhile, the OKX decentralized exchange (DEX) faced a $2.7 million exploit on December 13, triggered by a leaked private key of the proxy admin owner. The hack occurred after the proxy admin upgraded the DEX proxy contract, allowing a user to steal tokens. SlowMist Zone and Scopescan reported the incident, urging users to revoke allowances. PeckShield estimated the total loss from the attack.
In another development, BlackRock has revamped the structure of its impending spot Bitcoin ETF. The new "prepay" ETF model allows banks like JPMorgan and Goldman Sachs to act as authorized participants, creating fund shares with cash instead of crypto. This innovative structure aims to address concerns of market manipulation raised by the SEC, potentially paving the way for broader Wall Street involvement in the crypto space.
