Ethereum Under SEC Scrutiny and Aptos Teams Up with Tech Giants for a Decentralized Finance Platform

By: Isha Das

Concerns are arising concerning the legal status of Ethereum as it is speculated that the digital cryptocurrency is under investigation by the SEC. This speculation stems from comments made by Consensys Senior Counsel and the Director of Global Regulatory.

In other news, Aptos Labs, the developer of the Aptos blockchain, is making progress in the realm of decentralized finance, with the announcement of a significant partnership with some of the industry's biggest players. Tech giants such as Microsoft, Brevan Howard, and South Korean telecommunications company, SK Telecom, have formed a partnership with Aptos Labs. This collaboration is expected to pave the way for a new decentralized finance platform named Aptos Ascend.

Aptos Ascend aims to leverage the technologies of Microsoft Azure, Azure OpenAI service, and SK Telecom. By learning from the expertise of Brevan Howard and Boston Consulting Group (BCG), it is expected to provide digital currency and asset management services to its user base. Advanced Digital Asset Controls introduced through Aptos Ascend are expected to provide precision and adaptability in asset management, with customizable tokens and access control being some of the key features of this new venture.

Aptos Labs earlier announced its utilization of Microsoft's infrastructure to offer offerings combining AI and blockchain technology. This partnership reflected positively on APT tokens, breaking the month-long downtrend with a surge of 6%, concurrently with the unveiling of the collaboration.