JPMorgan deployed JPM Coin, a token representing dollar deposits at the bank, on Ethereum mainnet on Monday and made it available to institutional clients, the bank said. The move expands the token beyond Base.
Headline corrected. An earlier headline said JPMorgan brings JPM Coin "to Ethereum," implying a move. The token is deployed on Ethereum mainnet in addition to Base, where it launched. Headline now reads: JPMorgan expands JPM Coin to Ethereum mainnet beyond Base.
An earlier version of the TL;DR said JPMorgan "will move" JPM Coin from Base to Ethereum and that no launch timeline was given. JPMorgan said the token was already deployed on Ethereum mainnet on Monday, Oct. 19, and is available to institutional clients; it expands beyond Base rather than moving off it. The TL;DR now matches the article and CoinDesk's report.
Almost $50 billion in crypto assets are locked in Ethereum-based applications, according to DeFiLlama.
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MetaMask has begun removing Ethereum validators from Lido after a security incident struck part of its infrastructure. The action is precautionary, with no immediate wallet threat identified and ETH returns possibly taking up to 45 days.
Robinhood Chain has posted more than $1 billion in first-week DEX volume while its TVL soared millions of percent on memecoin momentum; Circle obtained a national trust bank charter and crypto legislation inches forward with a possible Clarity Act draft next week.
Galaxy Digital will manage a new $125 million onchain yield fund receiving $100 million from Sharplink’s staked ETH treasury and $25 million from Galaxy. The deployment into DeFi protocols marks a shift in Sharplink’s treasury strategy while preserving its core ETH exposure.
BitMine Immersion Technologies may slow its Ethereum purchases after amassing more than 4% of the circulating supply and nearing its 5% target. Chairman Tom Lee cited other crypto opportunities and the firm’s diversified investments as reasons for a potential change in pace.
U.S. stocks closed lower on Thursday as Alphabet sank 12% after its third-quarter results, pulling the Nasdaq down 1.38%. The S&P 500 fell 0.3% and the Dow lost 132.54 points.
