Author: Crypto Insider

EigenLayer is prioritizing onboarding consumer Web3 applications after the Oct. 1 unlock of the restaking protocol’s native token, EIGEN, founder Sreeram Kannan told Cointelegraph in an interview. EigenLayer will initially target apps in crypto-native segments such as decentralized finance (DeFi) and gaming before expanding beyond Web3, Kannan said. “We’re starting with the inside-out approach, focusing…

The National Bank of Bahrain has announced the launch of its first Bitcoin investment fund, designed for institutional investors in the Middle East’s Gulf Cooperation Council, formed by Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE). According to local media reports, the fund was developed in partnership with digital asset firm ARP…

What is a rug pull in cryptocurrency? A rug pull scam happens when a team or developer withdraws support for a project, leaving investors with worthless tokens.  Imagine you’re at a party where you come across an awesome game. Players are enjoying themselves, and there are large rewards for them to win. You decide to…

A new Ethereum Improvement Proposal (EIP) would slash block times on Ethereum by 33% and increase data capacity — increasing overall throughput by 50%, developers claim. Introduced on Oct. 5 by Illyriad Games co-founder Ben Adams, EIP-7781 aims to slash block times on the Ethereum network to eight seconds from 12 seconds, increase the latency of based…

Amendments to value-added tax (VAT) regulations in the United Arab Emirates will exempt transfers and conversions of digital assets, including crypto. On Oct. 2, the UAE’s Federal Tax Authority (FTA) published amendments to the country’s VAT rules. According to business consultancy company PwC, the new rules include VAT exemptions for additional services, including managing investment funds and…

Ethereum restaking protocol EigenLayer assured the community that its protocol has no vulnerabilities after an incident where almost $6 million in tokens were stolen from an investor. On Oct. 4, the EigenLayer team said it was investigating an “unapproved selling activity” concerning a wallet ending in “f10D.” The wallet address sold about 1.6 million of EigenLayer’s EIGEN…