JPMorgan Revolutionizes Collateral Settlement with Blockchain and Tokenization

JPMorgan successfully completes its first live blockchain-based collateral settlement transaction using its Ethereum-based Onyx blockchain and Tokenized Collateral Network (TCN), involving BlackRock and Barclays. Meanwhile, Coinbase faces legal challenges as U.S. state authorities and legal experts argue that the company unlawfully operated an unregistered exchange. In a fraud trial, Caroline Ellison, former CEO of Alameda Research, testifies that she committed fraud at the direction of her ex-boyfriend and FTX exchange founder Sam Bankman-Fried.