Latest news with #EIP-7702
Yahoo
4 days ago
- Business
- Yahoo
Ether Trader Bets Millions on ETH Blasting Above $3.4K by June-End
Last month, CoinDesk reported that big money is becoming increasingly bullish on ether ETH, with price charts indicating a potential rally above $3,000. New evidence has now emerged, supporting those claims. On Thursday, a trader paid a premium of over $2 million to purchase a total of 61,000 contracts of June-end expiry ether call options at strikes $3,200 and $3,400, according to data source crypto options exchange Deribit. Theoretically, the $3,200 call is a bet that ether's price will rise from the current $2,460 to over $3,200 by the end of the month. The purchase of the $3,400 call indicates expectations for a move above that level. In other words, the trader anticipates a price surge of over 30% in three weeks. A call option gives the purchaser the right but not the obligation to buy the underlying asset at a predetermined price at a later date. A call buyer is implicitly bullish on the market and pays a premium for the asymmetric upside exposure. The premium paid, in this case, $2 million, is the maximum amount the buyer stands to lose in case the market doesn't rise as expected. The bullish flow is consistent with the renewed optimism among some analysts about ether's price prospects. According to Youwei Yang, Ph.D., chief economist at BIT Mining, protocol upgrades, institutional moves, and anticipation around new financial products have all come together to restore investor confidence in ether. Ether's parent blockchain, Ethereum, recently implemented the Pectra upgrade to enhance scalability, validator flexibility, and user experience, introducing key features like EIP-7702 to enable regular wallets to leverage smart contract capabilities. "The Pectra upgrade, which went live on May 7, has been a key turning point. By raising the validator cap from 32 to 2,048 ETH and doubling blob throughput, Ethereum took a major step forward in both staking efficiency and Layer-2 scalability," Yang said in an email to CoinDesk. "It's a clear signal that the network is serious about scaling and improving its core infrastructure. That's the kind of technical progress that brings not just developers, but also users and capital, back into the ecosystem," Yang added. Yang cited SharpLink Gaming's announcement that it would move $425 million into Ethereum as a treasury reserve asbold endorsement of ether as the corporate Treasury asset. "It reminds us of the early wave of Bitcoin treasury adoption by corporates, and it could be just the beginning of something similar for ETH," Yang noted. Lastly, speaking of institutional adoption, speculation has been circulating that U.S. regulators will soon approve a spot ether ETF with a staking mechanism, opening doors for institutions to take exposure to both the price and the staking yield, a feature missing in BTC in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
02-06-2025
- Business
- Yahoo
Post Pectra 'Malicious' Ethereum Contracts Are Trying to Drain Wallets, But to No Avail: Wintermute
Malicious Ethereum contracts designed to drain wallets with weak security aren't profiting from the operation, crypto market maker Wintermute said Friday, identifying these contracts as "CrimeEnjoyors." The whole issue is tied to the Ethereum Improvement Proposal (EIP)-7702, part of the Pectra upgrade that went live early last month. It allows regular Ethereum addresses, secured by private keys, to temporarily operate as smart contracts, facilitating batched transactions, password authentication and spending limits. The regular Ethereum addresses delegate control of their wallets to smart contracts, granting them permission to manage or move their funds. While it has simplified the user experience, it has also created a risk of malicious contracts draining funds. As of Friday, more than 80% of delegations made through EIP-7702 involved reused, copy-and-paste contracts designed to automatically scan and identify weak wallets for potential theft. "Our Research team found that over 97% of all EIP-7702 delegations were authorized to multiple contracts using the same exact code. These are sweepers, used to automatically drain incoming ETH from compromised addresses," Wintermute said on X. "The CrimeEnjoyor contract is short, simple, and widely reused. This copy-pasted bytecode now represents the majority of all EIP-7702 delegations. It's funny, dark, and fascinating all at once," the market maker added. Notable cases include a wallet that lost nearly $150,000 through malicious batched transactions in a fishing attack, as anti-scam tracker Scam Sniffer noted. Still, the large-scale money drain has not been profitable for the attackers. The CrimeEnjoyors spent approximately 2.88 ETH to authorize around 79,000 addresses. One particular address –0x89383882fc2d0cd4d7952a3267a3b6dae967e704 – handled more than half of these authorizations, with 52,000 permissions granted to it. Per Wintermute's researcher, the stolen ether can be traced by analyzing the code of these contracts. For the above example, the ETH is destined to flow the address –0x6f6Bd3907428ae93BC58Aca9Ec25AE3a80110428. However, as of Friday, it had no inbound ETH transfers. The researcher added that this pattern appears consistent across other CrimeEnjoyors as well.
Yahoo
21-05-2025
- Business
- Yahoo
Fireblocks Launches Platform-Wide Enhancements to Power Secure and Scalable Digital Asset Operations
New platform capabilities eliminate friction and boost security across payments, retail, and institutional trading workflows NEW YORK, May 21, 2025 /PRNewswire/ -- Fireblocks, an enterprise platform providing digital asset infrastructure solutions to businesses building on blockchain, announced today the launch of platform-wide enhancements engineered to meet the security, scalability, and automation demands of modern digital asset operations. Debuted at Fireblocks Pulse, the company's first global product showcase, these new capabilities are already in use by leading institutions including Galaxy and WonderFi. Designed to meet the growing operational demands of trading and retail businesses that are transitioning core functions to blockchain-based rails and leapfrogging into stablecoin payments and DeFi, Fireblocks debuted new capabilities that solve key challenges and collectively power a secure, scalable operating system for digital asset operations, with re-engineered security, abstracted blockchain complexity via EIP-7702, and increased scale and speed. "We're flipping the switch from 'utility' to 'advantage'," said Idan Ofrat, Co-founder and Chief Product Officer at Fireblocks. "The enhanced platform gives every institution the power to move billions, meet local regulations, and invent new products—on infrastructure engineered to stay three steps ahead of the threat landscape." These enhancements arrive as institutional adoption accelerates. According to Fireblocks' 2025 State of Stablecoins report, 86% of firms say their infrastructure is ready for stablecoin operations—but fewer than 1 in 5 feel confident in their continuity or security frameworks. The message from the market is clear: execution matters now, and infrastructure will decide the winners. Fireblocks' latest platform upgrades address this execution gap—eliminating friction, mitigating emerging attack vectors, and bringing enterprise-grade policy, automation, and wallet management tools to the forefront of digital asset operations: Next-Generation Fireblocks Policy Engine: Offers new controls for managing transaction and workflow security, governance, and compliance policies in one place. New features include multi-asset rules, simplified configuration tools, and direct management of AML/KYT requirements. Early adopters include WonderFi (acquired by Robinhood) and Galaxy. dApp Access Policy: Fireblocks is the first platform to offer enterprise-grade dApp controls at the application layer. Teams can now whitelist trusted URLs and block suspicious or spoofed apps — mitigating phishing, wallet drainers, and smart contract exploits, which are rising attack vectors in DeFi and retail. Wallet Tagging: A new system for organizing vaults, addresses, and users with custom business logic—by region, client, or product. Fully integrated with Fireblocks Automation and Policy Engine for smarter, rule-based operations at scale. Batched Transfers: A new API to support high-volume transaction execution — allowing businesses to send funds from one source to multiple destinations in a single blockchain transaction. Ideal for payouts, payroll, merchant settlements, and token distributions. Sweeping: A new automation feature that moves assets from multiple wallets into a single destination in real time. Helps teams centralize deposits, optimize treasury flows, and eliminate manual reconciliation. Universal Gasless: A first-of-its-kind solution allowing users to send tokens on EVM chains without paying gas fees, creating a more seamless customer experience for retail and consumer apps while addressing compliance barriers for regulated entities who cannot keep gas tokens on their balance sheet. Built on EIP-7702 from the Ethereum Pectra upgrade. Gasless transactions are also available on Solana. "Fireblocks' new Policy Engine is a leap forward for operational clarity. The new structure and UX make it far easier to manage complex policies at scale—whether it's organizing rules by business unit or getting visibility into which ones are active," said Dean Skurka, President & CEO of WonderFi. "These updates raise the security bar and strip out manual steps our ops team used to handle. The time we save can now go toward higher-value work." As blockchain shifts from experimentation to essential infrastructure, Fireblocks is delivering scalable, secure, and intuitive tools that institutions and builders require. Whether onboarding millions of users or managing complex institutional flows, organizations can access a platform engineered for high-volume execution, without compromising on security or control. To learn more about the newest capabilities on the Fireblocks platform, visit here. About Fireblocks Fireblocks is the world's most trusted and proven digital asset infrastructure company, empowering organizations of all sizes to build, run and grow their business on the blockchain. With the industry's most secure, scalable and comprehensive platform, we streamline custody, tokenization, payment, settlement, and trading operations across the largest ecosystem of exchanges, custodians, banks, payment providers and stablecoin issuers in the world. Over 2,000 organizations - including BNY Mellon, Galaxy, and Revolut - trust Fireblocks to secure more than $10 trillion in digital asset transactions across 100+ blockchains and over 300 million wallets. Learn more at View original content to download multimedia: SOURCE Fireblocks Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Mayor
12-05-2025
- Business
- Business Mayor
Crypto: Uniswap Shatters Records with $3 Trillion In Trading Volume!
15h05 ▪ 3 min read ▪ by Evans S. Uniswap has just etched its name into the digital marble of the crypto universe. Three trillion dollars in cumulative volume. A staggering figure, a historic first for a DEX. Yet, behind the confetti, some signals call for caution. Because while the numbers shine, the backdrop is more nuanced. A Thundering Feat, but Depth to be Put in Perspective It took guts: in an ecosystem still young, Uniswap established itself as the crossroads of decentralized exchanges. Three trillion dollars is the footprint left on the asphalt of the blockchain. Hayden Adams, founder of the protocol, did not miss the chance to celebrate the moment on X, with a screenshot from Dune Analytics in support, like a victory before another revolution. However, today's numbers also tell another crypto story. The daily volume hovers around 3.3 billion dollars, with a crypto market share of 23%. Impressive, certainly, but slightly down compared to rivals like PancakeSwap, now flirting with 2.7 billion dollars and a 21% share. Competition is fierce, and Uniswap's lead is no longer as unrivaled. As for the total value locked (TVL), another thermometer of DeFi dynamism, it caps at 5 billion dollars. Half of the peak reached in 2021. Even though the entire DeFi ecosystem shows a global TVL of 124 billion according to DeFiLlama, it is a clear reminder: enthusiasm has cooled down, and caution prevails. Innovation Continues, but UNI Crypto Struggles Behind the scenes, Uniswap is nevertheless preparing its transformation. On May 12, Adams announced the imminent launch of their wallet compatible with EIP-7702, a proposal signed by Vitalik Buterin, freshly integrated with the Pectra update. The idea? More flexible, smarter Ethereum accounts capable of transforming into ephemeral contracts to enhance security. A proactive response to future threats, including those arising from quantum computing. But while technology advances, the UNI crypto is struggling. CoinGecko places it around 7 dollars, far, far from its 45-dollar peak in 2021. More than an 84% drop in four years. A underperformance that contrasts with the protocol's technical achievements. The crypto market, it seems, remains skeptical about the valuation. In short, Uniswap reminds us that in crypto, numbers alone are not enough. Innovation, however spectacular, must convince beyond developers. And the next revolution might very well happen where it is least expected. Meanwhile, Ethereum is betting big on institutional staking. Maximize your Cointribune experience with our 'Read to Earn' program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits. Fascinated by Bitcoin since 2017, Evariste has continuously researched the subject. While his initial interest was in trading, he now actively seeks to understand all advances centered on cryptocurrencies. As an editor, he strives to consistently deliver high-quality work that reflects the state of the sector as a whole.
