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Deutsche Bank is set to launch an Ethereum layer-2 solution, named Project Dama 2, aimed at enhancing transaction efficiency while ensuring compliance for financial institutions. This initiative will utilize ZKsync technology and allow banks to curate validators, addressing regulatory concerns while providing oversight capabilities for regulators.The project is part of Singapore's Monetary Authority's Project Guardian, involving 24 financial institutions exploring blockchain asset tokenization. However, the design raises decentralization concerns among blockchain advocates due to the control given to regulators over transaction validation.
Deutsche Bank is developing an Ethereum layer 2 solution using ZKsync technology to enhance transaction efficiency and address regulatory challenges for financial institutions on public blockchains. This initiative, part of Project Dama 2 and linked to Singapore’s Project Guardian, aims to create a secure environment for banks by allowing them to customize validators and provide regulators with oversight capabilities. A minimum viable product is expected next year, pending regulatory approval.
Crypto.com has voluntarily withdrawn its lawsuit against the SEC, a surprising move following CEO Kris Marszalek's meeting with President-elect Donald Trump. The discussions included potential government appointments and a proposed national Bitcoin reserve, signaling a shift towards collaboration with the new administration, which is seen as more supportive of crypto innovation. Key appointments, such as Paul Atkins as SEC Chairman and David Sacks as the White House A.I. & Crypto Czar, further indicate a pro-crypto regulatory environment.
The Philadelphia 76ers have launched "Spectrum Sprint," a free-to-play mobile game in collaboration with Crypto.com, featuring pixel art and side-scrolling gameplay through iconic Philadelphia landmarks. Players can earn digital collectibles and compete for exclusive prizes, including courtside seats and VIP experiences, while an in-game leaderboard tracks top performers. This game is part of a three-game Web3 series celebrating the team's Nike City Edition uniforms, with the first game already released and a third set to debut in March.
Tether is solidifying its position in Europe's stablecoin market, moving an average of $40 million daily to exchanges as the MiCA regulations approach. Despite Coinbase's delisting of USDT for European users, other major exchanges continue to support it. Tether's investment in StablR, a compliant stablecoin issuer, highlights its commitment to regulatory adaptation and innovation, with StablR's MiCA-compliant stablecoins enhancing liquidity and accessibility in the growing European market.
Crypto.com CEO Kris Marszalek met with President-elect Donald Trump at Mar-a-Lago to discuss a potential national Bitcoin reserve and regulatory frameworks for the crypto industry. Following the meeting, the exchange's native token, Cronos (CRO), surged over 25%. The crypto community has expressed optimism about the new administration's approach to digital assets, with Crypto.com withdrawing its lawsuit against the U.S. Securities and Exchange Commission (SEC) to collaborate on regulations.
US lawmakers in the Senate Banking Committee have canceled a session to vote on Caroline Crenshaw's nomination for a second term at the SEC, making her confirmation before Republicans take control in January increasingly unlikely. Crenshaw, who has served under both Trump and Biden, faces opposition from crypto interest groups labeling her as "more anti-crypto" than SEC Chair Gary Gensler. If not confirmed, she may be replaced or her seat left vacant before 2026.
President-elect Donald Trump met with Crypto.com CEO Kris Marszalek at Mar-a-Lago to discuss cryptocurrency policies, including a proposed national Bitcoin reserve. This meeting coincided with Crypto.com dropping its lawsuit against the SEC, aiming to collaborate with the new administration on regulatory frameworks. Trump has also made key appointments favoring the crypto industry, including David Sacks as his “AI and crypto czar.”
Bitcoin reached a new all-time high of $108,135 before settling at $107,020, marking a nearly 12% increase over the past week. The surge in interest follows President-elect Donald Trump's victory, with speculation about a potential U.S. Bitcoin reserve. Meanwhile, XRP gained over 6% amid the launch of Ripple's RLUSD stablecoin, trading at $2.63.
Centralized exchange tokens are experiencing significant growth, with Bitget Token surging 11.87% to a record high of $3.9672, and Cronos rising 10.65%, both benefiting from increased trading volumes amid a crypto market boom. In contrast, Binance Coin has seen a modest 1.01% increase, remaining stable at its all-time high. As Bitcoin reaches new heights, the positive momentum is expected to continue for these tokens, reflecting their exchanges' performance.
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Deutsche Bank to Launch Ethereum Layer-2 for Enhanced Compliance in Finance
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