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<p>The world of cryptocurrency never sleeps, and today’s headlines are no exception. From Coinbase’s expansion plans to an unfortunate exploit at OKX DEX and a groundbreaking move by <a href="https://www.cryptopolitan.com/blackrock-revamps-bitcoin-etf/" data-type="post" data-id="422373" rel="noopener noreferrer nofollow">BlackRock</a>, here’s a comprehensive rundown of the day’s most significant developments in the crypto sphere.<a href="https://cointelegraph.com/news/what-happened-in-crypto-today" rel="noopener noreferrer nofollow" target="_blank"> </a></p>
<h2 class="wp-block-heading" id="coinbase-opening-doors-for-international-traders">Coinbase: Opening Doors for International Traders</h2>
<p>Coinbase, a name synonymous with the crypto world, is making waves yet again. This time, it’s good news for its international user base. Institutional clients on Coinbase International Exchange, located outside the United States, are gearing up for a new opportunity. Starting on December 14, they’ll be able to engage in spot trading for Bitcoin (BTC) and Ether (ETH) against USD Coin (USDC).</p>
<p>This move follows Coinbase’s May launch of its International Exchange, which initially catered to BTC and ETH perpetual futures for institutional investors. In a bid to democratize crypto trading, the exchange announced its expansion plans in September, promising to extend the same services to retail traders. But that’s not all. Coinbase hints at exciting future developments, promising additional tokens and features to enable new trading strategies and enhance capital efficiency. The crypto community can’t help but wonder what’s next for this industry giant.</p>
<h2 class="wp-block-heading" id="okx-dex-a-costly-security-breach">OKX DEX: A Costly Security Breach</h2>
<p>In a darker corner of the crypto realm, OKX decentralized exchange (DEX) found itself facing a security nightmare. On December 13, the exchange suffered a devastating exploit, resulting in a staggering loss of approximately $2.7 million in cryptocurrencies. The breach was triggered by a leak of the private key of the proxy admin owner, setting off a chain of events that allowed a hacker to compromise the platform’s security.</p>
<p>SlowMist Zone, a blockchain security firm, reported the issue on December 12, stating that the trouble began when the proxy admin owner upgraded the DEX proxy contract. The situation escalated when another upgrade followed, leading to the unauthorized access and theft of tokens. While the exact cause of the security breach is still under scrutiny, the proxy admin owner’s leaked key is a prime suspect. The incident highlights the ever-present threat of cyberattacks in the industry and the need for constant vigilance to protect digital assets.</p>
<h2 class="wp-block-heading" id="blackrock-paving-the-way-for-institutional-involvement">BlackRock: Paving the Way for Institutional Involvement</h2>
<p>In a groundbreaking move, BlackRock, a financial giant, is reshaping the landscape of cryptocurrency investments. The company has restructured its pending spot Bitcoin exchange-traded fund (ETF) to introduce a novel “prepay” ETF model. This innovative approach could allow banking titans like JPMorgan and Goldman Sachs to act as authorized participants, a role that was previously out of their reach due to restrictions on holding Bitcoin or crypto directly.</p>
<p>By creating new shares in the fund using cash, rather than crypto, these banking giants can participate legally. The key motivation behind this shift is the aim to thwart market manipulation, an issue that has hindered previous spot Bitcoin ETF applications. If approved, this new ETF structure could open the floodgates for Wall Street banks with trillion-dollar balance sheets, enabling them to enter the crypto arena more easily. It’s a game-changer that promises to bridge the gap between traditional finance and the crypto revolution.</p>
<p>As we wrap up today’s crypto chronicles, it’s evident that the crypto world is as dynamic and eventful as ever. Coinbase’s global expansion, OKX DEX’s security ordeal, and BlackRock’s pioneering move are just snapshots of the ever-evolving landscape of digital currencies. While challenges persist, the crypto community continues to forge ahead, driven by innovation, resilience, and the belief in a decentralized future. Stay tuned for more updates on the fascinating journey of cryptocurrencies, where every day brings a new chapter in the story of financial evolution.</p>

Crypto Chronicles: A recap of today’s top events

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