Crypto Quill

Taurus, a Swiss-based crypto custody firm, has announced a partnership with Lido Protocol, a leading liquid staking provider, to offer staking support for staked Ethereum (stETH) to its clients. This move could boost the adoption of Ethereum and pave the way for the approval of Ethereum ETFs in the US.

Taurus Enables Liquid Staking Solutions for Institutions

Taurus, which counts Deutsche Bank and Santander as partners, is one of the leading providers of digital asset infrastructure solutions in Europe. The firm has recently teamed up with Lido Protocol, a decentralized autonomous organization (DAO) that allows users to stake their Ethereum and receive stETH tokens in return. These tokens can be used for trading, lending, or liquidity provision on various DeFi platforms, while still earning staking rewards.

According to a press release, Taurus will integrate Lido’s liquid staking solution into its platform, enabling its clients, such as banks, asset managers, and exchanges, to access staking services for Ethereum. This will allow them to earn passive income by holding and staking Ethereum, without locking up their funds or compromising on security.

Victor Busson, the Chief Marketing Officer at Taurus, said in an interview that the goal of the partnership is to build a bridge between the world of digital assets and the world of traditional finance. He added that Taurus is seeing more and more demand from its banking clients to offer these kinds of staking services.

Ethereum ETF Approval Odds at 50/50, According to Asset Managers

The partnership between Taurus and Lido comes at a time when the crypto industry is eagerly awaiting the decision of the US Securities and Exchange Commission (SEC) on the approval of Ethereum ETFs. The SEC has already approved several Bitcoin ETFs in the past few months, but has yet to greenlight any Ethereum ETFs.

However, some asset managers are optimistic that the SEC will approve Ethereum ETFs by May 23, which is the final deadline for the first wave of applications. Among them are VanEck, Ark 21Shares, and Hashdex, which have all filed for spot Ethereum ETFs.

During a panel discussion featuring executives from Galaxy Asset Management, Bitwise Asset Management, and Grayscale, the future of Ethereum ETFs was discussed. Matt Hougan, the chief investment officer at Bitwise, said he expects a 50/50 chance of approval by May, while Steve Kurz, the head of asset management at Galaxy, said he sees a 75% chance of approval by the end of the year.

They argued that the SEC has no reason to deny Ethereum ETFs, given that it has already approved Ethereum futures ETFs, and that Ethereum is not considered a security by the regulator. They also suggested that the SEC could face legal challenges if it rejects Ethereum ETFs, as it did with Bitcoin ETFs in the past.

NuggetRush Offers 20% APY for NFT Stakers

Meanwhile, NuggetRush, a new play-to-earn (P2E) game project, is attracting attention from crypto investors with its 20% Annual Percentage Yield (APY) offer for NFT stakers. NuggetRush is a crypto-mining virtual game that features popular NFTs, such as CryptoPunks, Bored Ape Yacht Club, and CryptoKitties. Players can buy and sell these NFTs on NuggetRush’s NFT marketplace, as well as stake them to earn passive income.

NuggetRush’s main token, NUGX, is the official currency of the game, and also grants governance rights to its holders. The token is currently priced at $0.018, and experts predict a 50x growth post-launch. The project has already sold over 184 million NUGX tokens in its presale, and has been audited by SolidProof, a reputable smart contract security firm.

NuggetRush is set to launch its P2E game soon, which will provide entertainment for players and benefits for NUGX token holders. The game will allow players to search for precious minerals, compete with other players, earn rewards, and expand their mining business. NuggetRush aims to become one of the top crypto gaming projects in the market, and one of the best ICOs to invest in.