Ethereum’s core developers have set their sights on April 12 as the release date for the network’s Shanghai-Capella upgrade, often referred to as Shapella, on its mainnet. The key feature of the upgrade comes with Ethereum Improvement Proposal (EIP) 4895.

The Federal Deposit Insurance Corporation (FDIC) has denied reports that it would demand any potential buyer of Signature Bank to divest its crypto-related activities as a condition of sale.

The decentralized autonomous organization (DAO) behind the popular cryptocurrency-backed stablecoin DAI, MakerDAO, has passed a proposal to increase the allocation of its portfolio holdings to United States Treasury bonds by 150%, from $500 million to $1.25 billion.

Event: XENIX is delighted to invite the British index fund and ETF industry for the first edition of its ETF AWARDS UK at the Hilton London Tower Bridge on 30 March 2023.

 Top stories in the Crypto Roundup today:

• Staked Ether Withdrawal Upgrade Scheduled for April 12
• FDIC Denies it Requires Signature Bank Purchaser to Divest of Crypto
• MakerDAO Passes Proposal to Raise US Treasury Holdings to $1.25 Billion
• XENIX ETF Awards 2023: Celebrating the Best of the UK's Index Funds & ETFs Industry

Staked Ethereum Withdrawal Upgrade Scheduled for April 12

Ethereum’s core developers have set their sights on April 12 as the release date for the network’s Shanghai-Capella upgrade, often referred to as Shapella, on its mainnet. The key feature of the upgrade comes with Ethereum Improvement Proposal (EIP) 4895.

EIP 4895 will allow for withdrawals of staked Ether on the network, a functionality that wasn’t implemented when the network merged with the Beacon Chain and transitioned to a Proof-of-Stake consensus.

The upgrade will also feature three other improvements aimed at optimizing gas costs for certain activities. The upgrade is set to take place on April 12 at epoch number 620,9536.

Shapella is coming after multiple phases of public testing on three testnets, including Sepolia, Zhejiang, and Goerli. The upgrade was earlier this week deployed on the Goerli testnet as a final rehearsal ahead of the mainnet launch.

FDIC Denies it Requires Signature Bank Purchaser to Divest of Crypto

The Federal Deposit Insurance Corporation (FDIC) has denied reports that it would demand any potential buyer of Signature Bank to divest its crypto-related activities as a condition of sale.

The FDIC’s comments came after reports claimed that "any buyer of Signature must agree to give up all the crypto business at the bank," citing two anonymous sources.” The agency refuted the claim, stating it would “not require divestment of crypto activities as part of any sale.”

Signature Bank was recently seized by the New York Department of Financial Services and turned over to the FDIC, along with Silicon Valley Bank. The FDIC is now looking to auction both banks.

An FDIC spokesperson further noted that the acquirer of the bank will determine the conditions of their bid, including what assets and liabilities they are willing to take from the failed bank.

 

MakerDAO Passes Proposal to Raise US Treasury Holdings to $1.25 Billion

The decentralized autonomous organization (DAO) behind the popular cryptocurrency-backed stablecoin DAI, MakerDAO, has passed a proposal to increase the allocation of its portfolio holdings to United States Treasury bonds by 150%, from $500 million to $1.25 billion.

The move is meant to increase the protocol’s exposure to real-world assets and high-quality bonds, following the depeg of DAI at the start of the US banking crisis, when it was revealed Circle’s USDC had $3.3 billion of its reserves on Silicon Valley Bank.

The $750m debt ceiling hike was approved by 77% of Maker’s delegates. Under the new deployment, MakerDAO will use $750m of USD Coin (USDC) to purchase more US Treasury bonds, diversifying its liquid assets that back DAI.

MakerDAO will purchase bonds with equal maturities, biweekly, and over a six-month period, totaling 12 slots of $62.5m each. The protocol expects to deliver a net annualized yield of 4.5% to 4.6% after custody under the strategy.

XENIX ETF Awards 2023: Celebrating the Best of the UK's Index Funds & ETFs Industry

Thursday, 30 March 2023

5:00 P.M. - 8:00 P.M 

Hilton London Tower Bridge

XENIX is delighted to invite the British index fund and ETF industry for the first edition of its ETF AWARDS UK at the Hilton London Tower Bridge on 30 March 2023.

XENIX’s ETF AWARDS are unique events for ETF providers and the related wealth tech industry to celebrate the best-rated ETFs, innovative ETF-newcomers and special achievements in the ecosystem of traditional and exchange-traded index funds and the related digital asset-ETPs.

XENIX is partnering with CryptoCompare at the inaugural London event where both companies will also deepen their cooperation for digital assets research and ETF linked data.

XENIX is an independent ETF specialist based in Berlin which offers a qualitative rating for nearly all ETFs in the UK, Switzerland and the European Union. Dr. Markus Thomas, owner and managing director of XENIX, already hosts annual ETF AWARDS in Germany, Switzerland, Italy and the Nordic countries. XENIX partners for each national ETF AWARDS event mainly with index providers, stock exchanges and media houses.

"Our ETF AWARDS have proved to be great opportunities to discuss structural ETF trends, connect with related businesses, and network in a festive yet relaxed manner

The total number of ETF Awards is usually around one dozen per country, but we’ll also include index funds and crypto-related ETFs for our first ETF AWARDS UK in London," says Markus Thomas.

 

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