EigenLayer, Ethereum's largest restaking protocol, is enhancing its rewards program to provide more flexibility to protocols and restakers, as stated in a Dec. 6 blog post.
The updates allow third-party protocols using EigenLayer, known as actively validated services (AVSs), to distribute rewards to validators based on their performance.
Additionally, validators, or 'operators,' can now set fee rates independently, according to EigenLayer. The upgrades aim to offer greater flexibility, efficiency, and customization to rewards within the EigenLayer ecosystem, the restaking protocol mentioned in a Dec. 6 post on the X platform.
FSOC warns stablecoins remain a 'potential risk' to financial stability
The United States Financial Services Oversight Council (FSOC) has highlighted that the lack of robust risk management standards in stablecoins makes them susceptible to ongoing risks, which could also threaten financial stability.
The FSOC's annual report, released on Dec. 6, stated that stablecoins pose a potential risk to financial stability due to their high vulnerability to runs without proper risk management standards. The council noted that the stablecoin market is highly concentrated, with a single firm controlling approximately 70 per cent of the sector's total market value.
The total market capitalization of stablecoins is $205.48 billion, with Tether USDT accounting for about 66.3% of this, equating to a market cap of $136.8 billion at the time of publication, according to CoinMarketCap data.
FCA issues warning, bans Pump.fun in the UK
The Financial Conduct Authority (FCA) of the United Kingdom has warned about the memecoin generator platform Pump.fun, indicating that it is not permitted to operate in the country.
The warning, issued on December 3, mentions that the platform "may be providing or promoting financial services or products without our permission" in the UK.
The notice also highlights that customers dealing with Pump.fun will not have access to consumer protections like the Financial Ombudsman Service or the Financial Services Compensation Scheme. The FCA advised: "You should avoid dealing with this firm and beware of scams."
