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Fhenix Introduces DBFV to Enhance Precision in DeFi Applications

Fhenix has unveiled Decomposed BFV (DBFV), a new Fully Homomorphic Encryption (FHE) scheme designed to overcome the precision limitations in decentralized finance (DeFi). DBFV addresses the "precision wall" by breaking down ciphertexts into smaller "limbs," reducing noise growth and delaying the need for costly computational resets known as bootstraps. This innovation allows for more efficient encrypted arithmetic, crucial for high-volume blockchain applications. DBFV's architecture supports complex financial operations, such as those required for a "private Uniswap," by improving throughput and enabling the processing of entire blocks of encrypted financial data simultaneously. This advancement is significant for institutions seeking to maintain privacy and competitive advantage in on-chain environments, facilitating the creation of private markets like dark pools and credit systems. Fhenix plans to integrate DBFV into its encrypted smart contracts later this year, marking a pivotal development in the scalability of private DeFi solutions.

Wells Fargo Seeks Head of Digital Asset Services

Wells Fargo is actively recruiting for a Head of Digital Asset Services, as revealed by a recent job posting. The role involves crafting a three- to five-year strategy focused on tokenized deposits, on-chain collateral, intraday liquidity, and 24/7 programmable payments. This strategy will integrate with existing financial systems such as wire transfers, ACH, RTP, FedNow, and SWIFT. This move follows similar actions by Morgan Stanley and JPMorgan Chase, which have also recently appointed senior leaders in the cryptocurrency sector, indicating a growing trend among major financial institutions to expand their digital asset capabilities.

Phemex Crypto Market Daily: Bitcoin Holds $69K as CPI Cools, Memecoins Lead Gains, ARB Unlock Looms (Feb 15)

BlackRock's Digital Assets Head Warns Leverage Threatens Bitcoin's Stability

Robert Mitchnick, head of digital assets at BlackRock, has expressed concerns over the impact of leverage on Bitcoin's market stability. Speaking at the Bitcoin Investor Week conference in New York, Mitchnick highlighted that excessive speculation on leveraged derivatives platforms is causing volatility that undermines Bitcoin's appeal as a stable portfolio hedge. He noted that minor events can trigger significant price drops due to cascading liquidations and auto-deleveraging. Mitchnick emphasized that while Bitcoin's fundamentals as a "global, scarce, decentralized monetary asset" remain strong, its short-term trading behavior is increasingly resembling a "levered NASDAQ," which could deter conservative investors. He clarified that exchange-traded funds like BlackRock's iShares Bitcoin ETF are not the primary sources of volatility, pointing instead to perpetual futures platforms. Despite these challenges, BlackRock remains committed to integrating digital assets into traditional finance.