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Ethereum Shanghai: Ankr to Use Cubist to Ensure Secure Withdrawals of Staked $ETH
March 16, 2023
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Cubist will help implement security upgrades to safeguard Ankr Protocol users making $ETH withdrawals after the Ethereum Shanghai Update.
Preparing for Ethereum Shanghai Update
As the Ethereum Shanghai Update approaches, Ankr Protocol announced it will use Cubist to ensure secure withdrawals of $ETH when unstaking is enabled.
According to an Ankr blog post, the security upgrades implemented by Cubist will include:
- Enhanced protections for deposits and withdrawals
- Security backend to safeguard validator keys
- On-chain-verifiable deposit and withdrawal flows to give users insight before they stake.
The most-hyped aspect of the Shanghai Update (also known as “Shapella”) is it will allow users to unstake $ETH. It is widely expected that the update will continue to increase the popularity of liquid staking of ETH coins offered by protocols including Ankr.
“Ankr is thrilled to be working with Cubist to enable secure withdrawals of staked ETH for the first time on Ethereum PoS. Our priority is always protecting our customers’ funds,” Ankr Co-Founder and CTO Stanley Wu said. “We chose Cubist because their team includes preeminent experts in applied cryptography and systems security. They are uniquely qualified to secure Ankr’s most critical workflows. We believe Cubist’s involvement will make Ankr the most secure choice for Ethereum liquid staking.”
What is Ankr Protocol:
Ankr is a decentralized Web3 infrastructure for a better Web3 world. The protocol provides the most powerful multi-chain toolkit to access blockchain infrastructure, earn yields, and integrate DeFi solutions.
Where to find Ankr Protocol:
What is Ethereum:
Ethereum is an open-source, distributed computing platform based on blockchain technology that can execute smart contracts - that is, the terms written in the contract will be executed transparently, automatically when the previous conditions are satisfied, and no one can interfere. At the same time, Ethereum also allows developers to build decentralized applications (DApps) and decentralized autonomous organizations (DAO).
Find more about Ethereum here:
Website | Twitter | Documentation | Whitepaper | Reddit | Discord | Youtube | GitHub | Ethereum Foundation Blog |
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Binance VIP Traders Informed of $4B Settlement Back in September
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December 1, 2023
The exclusive gathering took place at a luxurious Singapore night club in September, where attendees engaged with Binance executives and probed about the potential settlement.
Binance reportedly hosted an exclusive dinner for its most significant market makers in September. The gathering, held at a prestigious Singapore nightclub, was an intimate setting where select VIP traders gained insights into the impending $4 billion settlement with the U.S. Department of Justice, according to a recent report from Bloomberg.
The private dinner, organized for Binance's top traders, unfolded in the upscale 1880 members-only club. Attendees, consisting of market makers and traders, engaged in discussions with Binance executives about the company's legal challenges. The conversations revolved around the potential $4 billion fine, leaving attendees convinced that Binance could afford and would settle such a substantial amount.
Attendees' Perspectives
Reports suggest that attendees, after breaking into smaller groups, sought clarification on Binance's legal troubles. They left the dinner with a heightened expectation of the $4 billion settlement, emphasizing the significant financial impact it would have on the exchange.
Former CEO Changpeng Zhao was notably absent from the gathering, with the then-head of regional markets, Richard Teng, representing the company.
In response to the reports, a Binance spokesperson disputed certain aspects of the event's depiction while refraining from specifying the inaccuracies, as per The Block. This discrepancy in accounts raises questions about the transparency surrounding Binance's legal challenges and its communication with stakeholders.
Implications of the Settlement
Binance’s $4 billion settlement with U.S. authorities, including the Department of Justice, Department of the Treasury, and the Commodity Futures Trading Commission, marked one of the largest corporate settlements in U.S. history.
The resolution concluded a criminal investigation into allegations of money laundering and sanctions violations, settling many of Binance's legal troubles in the U.S. However, Binance.US and Changpeng Zhao still face a lawsuit filed by the U.S. Securities and Exchange Commission.
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Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
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Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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