Blockchain Test on Canton Network Completed; Binance Execs Detained in Nigeria; Ether ETF Approval Odds Drop
Summary:
Prominent financial institutions have successfully conducted a blockchain pilot test on the Canton Network, with participation from 155 individuals across 45 organizations. Meanwhile, two Binance executives remain detained in Nigeria following the company's pullout from the country, blamed for currency devaluation. Bloomberg ETF's analyst lessened the estimated chance for an Ether ETF approval from SEC due to lack of communication, resulting in a prediction drop to just 35% by May.
A pilot test on the Canton Network blockchain has been successfully executed by a host of significant financial establishments. Two high-ranking Binnacle representatives are presently in custody in Nigeria, accused by local authorities of triggering a depreciation of the Nigerian naira currency. An ETF analyst from Bloomberg has adjusted his prediction for a spot Ether (ETH) ETF sanction by May due to the SEC's lack of communication with potential issuers. A total of 155 participants from 45 influential organizations were involved in the blockchain pilot on the Canton Network - another indication of the finance sector's increasing interest in blockchain tech. Companies included Cboe Global Markets, BNY Mellon, and Goldman Sachs. The participants carried out more than 350 faux transactions on the Canton blockchain, involving tokenized assets, digital cash, securities lending, fund registry, and margin management. This development follows the recent uptake of blockchain and crypto tech by more financial institutions. In light of Binance's recent withdrawal from Nigeria, two of its top-ranking executives are currently being held there without passports. US cryptocurrency investigator Tigran Gambaryan and Binance executive Nadeem Anjarwalla have been detained in the country's capital, Abuja, for some time. Binance is hopeful of a prompt resolution to their plight. The odds for an approval of Ethereum ETFs by May have been decreased to 35% due to the lack of communication from the United States Securities and Exchange Commission (SEC) to potential issuers. According to Bloomberg ETF analyst Eric Balchunas, this forecast is based on several factors, including SEC Chairman Gary Gensler's view on Ether and the absence of contact from the SEC.
Reported by Geraint Price, Sam Bourgi, and Felix Ng.
Published At
3/12/2024 11:10:35 PM
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