Web3 Diaries-ETH Unstaking Requests Delay
The line is getting longer: Ethereum validators that have put in withdrawal requests following last week’s Shanghai upgrade will have to wait upwards of 17 days to get their staked ether (ETH) back, according to data from the blockchain analytics firm, Nansen.
That’s up from about 14 days late last week. The unstaking request queue consists of some 28,436 validators looking to exit the Beacon Chain.
There are a total of 575,359 validators on the Ethereum blockchain, according to analytics firm Nansen, so roughly 5% of validators are choosing to leave Ethereum’s staking process. Validators are responsible for proposing and adding blocks of transactions to the Ethereum blockchain as part of the validation process. In return, they are eligible for rewards of newly minted ETH and a share of associated transactions fees.
UAE Offering Licenses To Provide Virtual Asset Services
The United Arab Emirate (UAE) has upped its effort in order to attract companies to open virtual asset services business in the country, which will help the middle-east country to become a global hub in virtual digital assets (VDA).
The country is looking to build a strong relationship with the bettered cryptocurrency industry in some of its regions, but now, the federal financial regulatory agency of the UAE seeks to offer licenses to crypto companies that would allow them to offer virtual asset services country-wide.
According to the recent announcement by the nation’s Securities and Commodities Authority (CSA), all virtual asset service providers who wish to operate in the country will have to submit an application to obtain the license.
FTX Reboot Plan Attracts Interest From VC Firm Tribe Capital
Bankrupt crypto exchange FTX’s plan to restart operations has drawn a bid from venture capital firm Tribe Capital, Bloomberg reported on Tuesday, citing people familiar with the matter.
Tribe, whose portfolio included FTX ahead of its dramatic collapse in November, is considering leading a $250 million fund raise, with a $100 million commitment from itself, according to the report.
A source told Bloomberg that Tribe Capital co-founder Arjun Sethi met with FTX’s official committee of unsecured creditors in January to go over an informal proposal.
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