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Overnight on Wall Street is morning in Europe. Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. Markets never sleep, and neither does Bloomberg News. Monitor your investments 24 hours a day, around the clock from around the globe.
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High-profile hacks on crypto “bridges” — which let users swap digital tokens across blockchains — are creating opportunities for exchanges and other businesses to offer more secure alternatives.
Crypto exchanges FTX and Coinbase Global Inc. are deepening their capabilities to provide bridge-like services on various blockchains, so users invested in Bitcoin or Ethereum can easily participate in other networks’ financial or gaming apps. FTX, for instance, launched a marketplace last year that allows customers to trade Solana-based nonfungible tokens, and to easily swap their Ethereum for the chain’s main Sol coin to buy them. Users can also deposit an Ethereum-based NFT and withdraw it on Solana via FTX — instead of a bridge. And more app developers, like institutional lending marketplace Maple Finance, are moving onto new blockchains, making bridges unnecessary for certain transactions. 

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