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SEBA Bank Launches Ethereum Staking Services For Institutional Clients

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Today’s Cryptocurrency Headline

Swiss-regulated crypto platform SEBA Bank has launched ETH staking services for institutional clients. SEBA Bank said that the product allows users to receive ETH staking rewards on a monthly basis and variable lock-up periods will be instituted post-merge. However, no staked ETH can be withdrawn from Ethereum’s Beacon Chain until after a subsequent network upgrade, dubbed Shanghai, expected in the second quarter of 2023. Earlier in December last year, SEBA Bank launched the “SEBA Earn” program, which will allow institutional clients to obtain rewards through services such as staking, lending, and DeFi.

BingX’s Bitcoin Chart

Source: TradingView & BingX

According to the CME FedWatch Tool, the probability of a 75 basis point rate hike in the September meeting has risen to 80% from 69% a week ago. Bitcoin is up 2.59% over the last 24 hours and fell to an intraday low of $19,464.80. As investors worry about the Federal Reserve could continue with its aggressive tightening monetary policy, risky assets have been under selling pressure lately. However, the largest cryptocurrency rebounded alongside the traditional equity market today, which could be a short-term adjustment. For now, the bulls need to push the Bitcoin price above the psychological level of $20,000 to establish a relief rally.

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