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China’s Wechat Adds Support for Digital Yuan Payments
8.3.2023
Chinese social media platform Wechat has introduced support for the state-backed digital yuan in its popular payment app. Over a billion users will now ostensibly be able to take advantage of fast payments with the digital currency issued by the People’s Bank of China. Wechat Pay Follows Alipay...
Three Arrows-Backed Crypto Liquidity Protocol Rook Surges 23%
8.3.2023
Liquidity protocol Rook has experienced a surge in activity with its token rising by 23% on speculation that Three Arrows Capital founders Zhu Su and Kyle Davies have completed a fundraise for the bankruptcy-claims exchange
Frax’s shift to a fully backed stablecoin signals the end of DeFi’s algorithmic experiment
6.3.2023
The sun sets on algorithmic stablecoins as Frax shifts to a fully-backed model
Babel Finance Mulls Crypto-Backed Stablecoin to Repay $766M: Report
6.3.2023
Hong Kong-based crypto lender Babel Finance is planning on issuing a crypto-backed stablecoin in unison with a decentralized finance (DeFi) platform in an attempt to repay creditors following a $766 million loss last year
Dubai-Headquartered Crypto Exchange MaskEX Launches Virtual Card for Worldwide Spending and Welcomes Ben Caselin as Vice President to Drive Global Expansion Effort
6.3.2023
PRESS RELEASE. Dubai, United Arab Emirates, March, 2023 – MaskEX, a rapidly expanding third-generation crypto exchange, headquartered in Dubai, has announced the launch of its crypto-backed Virtual Card, enabling users to spend their crypto as fiat in more than 176 countries with over 50 million...
Warren Buffett-Backed Neobank Nubank Launches Own Currency Nucoin
4.3.2023
Warren Buffett-backed Nubank, a Brazil-based neobank that debuted crypto trading options back in May 2022 on its platform, has announced the launch of nucoin, its own cryptocurrency. Part of the first batch of the currency, issued on top of Polygon’s network, will be issued to its customers...
Regulation and risk: Factors driving demand for a euro-backed stablecoin
3.3.2023
The world’s second most widely held reserve currency seems to be underrepresented in the stablecoin space
Was Silvergate on Borrowed Time as Regulators Backed Banks Away From Crypto?
3.3.2023
Silvergate Bank is being hollowed out as its customers retreat following the disclosure that it has to reassess its financials and may not be a "going concern" within a year. The prominent California-based crypto bank's future gets increasingly murky
Fan Token Project Chiliz Sets Up $50M Incubator Backed by Jump Crypto
1.3.2023
Chiliz Labs will invest in early stage Web3 projects in sports and other entertainment sectors that will build on the layer 1 blockchain
Indonesia Targets Mid-2023 for its State-Backed Crypto Exchange
26.2.2023
Indonesia aims to launch its much-anticipated state-backed crypto exchange by mid-2023, according to the country's Commodity Futures Trading Regulatory Agency (Bappebti), which currently oversees digital assets.
In a recent interview, Didid Noordiatmoko, head of Bappebti, said that the...
Alameda-Backed Crypto Trader Folkvang Is Still Standing Despite Big Hit From FTX's Demise
23.2.2023
Speaking on a video call from a high-rise Singapore office building, Folkvang founder Mike van Rossum provided a candid account of the "messy" situation surrounding FTX's collapse and the aftermath
Nearly 3 Billion BUSD Stablecoins Have Been Removed From the Market in 6 Days
20.2.2023
Six days ago, a few hours before the blockchain infrastructure platform Paxos announced it would no longer mint BUSD stablecoins, $2.86 billion worth of BUSD were redeemed. Currently, Binance is the most active exchange trading BUSD tokens, and the stablecoin still commands roughly 10.7% of...
Pantos, Multichain Token System Backed by Crypto Exchange Bitpanda, Starts Beta Version
14.2.2023
The launch by Pantos, backed by the Austrian crypto exchange Bitpanda, follows a $12.1 million initial coin offering in 2018
BUSD Redemptions Soar Near $290 Million in 8 Hours After NYDFS Consumer Alert
13.2.2023
Before Paxos published a press release at 6 a.m. Eastern time Monday, the stablecoin BUSD had approximately 16.16 billion tokens in circulation. In the past eight hours, nearly $290 million has been redeemed, bringing the number of BUSD in circulation to 15.87 billion. Stablecoin BUSD Sees...
Circle Sounded Alarm on Paxos, Told NYDFS Binance’s Stablecoin Wasn’t Fully Backed: Bloomberg
13.2.2023
New York’s top financial regulator is investigating stablecoin issuer Paxos – and, according to a new report, it was rival stablecoin issuer Circle that sounded an alarm
BUSD Depegs From Rival Stablecoin Tether After US Regulator Tells Paxos to Stop Minting New Tokens
13.2.2023
Traders seem to be migrating from Paxos' BUSD stablecoin to tether
Bankrupt Celsius Aims to Raise $14.4 Million From Bitcoin Mining Rig Credits and Coupons
11.2.2023
Defunct cryptocurrency lender Celsius aims to secure more than $14 million from credits and coupons backed by Bitmain, according to an interim CEO Christopher Ferraro in a bankruptcy court filing dated Feb. 9, 2023. Ferraro stated in the filing that the “coupons currently provide no utility...
State-backed Crypto Mining Farm under Construction in Russia’s Buryatia
11.2.2023
A new crypto mining facility is being built in the Russian Republic of Buryatia with support from a government-affiliated company. Construction of the infrastructure for the large-scale project is already underway, carried out by a subsidiary of Russia’s largest mining operator, Bitriver. Bitriver...
Bank of England and Treasury Explore Possibility of Launching a State-Backed 'Digital Pound'
7.2.2023
The central Bank of England and the UK Government will today, reportedly, formally start a consultation for the 'digital pound'.
A state-backed digital pound is in the plans for the country, and it may be launched "later this decade," according to the PA Media Group, via Yahoo News. The Bank...
FTX Money Backed U.S. Lawmakers With Future of Crypto in Their Hands
6.2.2023
Many members of Congress with the biggest influence over coming U.S. cryptocurrency legislation received direct contributions from top executives of FTX, leaving them with a complicated political relationship with the crypto industry