Tether, the issuer of the world’s largest stablecoin, is undergoing a leadership change as it seeks to expand its focus. Paolo Ardoino, who has been serving as Tether’s chief technology officer since 2017, will take over as CEO in December 2023. He will replace Jean-Louis van der Velde, who will transition to an advisory role […]
At the recent Future Innovation Summit event in Dubai, a panel discussion titled “Stablecoins, Central Bank Digital Currencies and Cross-Border Payments” explored the possibility of coexistence between CBDCs and stablecoins. The panel consisted of industry experts including Jorge Carrasco, Nikita Sachdev, Jagadeshwaran Kothandapani, and Eetu Kuneinen.Kuneinen argued that CBDCs, although built on a blockchain, would […]
The discount on Grayscale Bitcoin Trust (GBTC) has reached its lowest point this year, currently standing at 16.58% as of October 12th. This narrowing discount is closely linked to the impending deadline for the U.S. Securities and Exchange Commission (SEC) to file an appeal against its previous loss to the asset management firm. In August, […]
France’s banking and insurance regulator, the ACPR, has released the findings of its public consultation on regulating decentralized finance (DeFi). The consultation highlighted the concentration of infrastructure with major cloud providers, raising concerns about operational vulnerability. The ACPR also noted the need for certifying smart contracts and regulating intermediaries and user interfaces. The feedback received […]
The French Central Bank’s regulatory body, the Autorité de Contrôle Prudentiel et de Résolution (ACPR), has published a summary of its public consultation on decentralized finance (DeFi). The consultation, which took place from April to May 2023, revealed surprising findings about the persistence of centralization in DeFi. The ACPR suggests that the term “disintermediated” finance […]
Bloom, a groundbreaking wallet for the Shimmer ecosystem, is set to be introduced by IOTA. Spearheaded by the former Firefly team, Bloom aims to revolutionize the user experience by offering enhanced security and seamless asset transfers. The wallet, built on the foundation of Firefly, is designed to be user-friendly, secure, and delightful. The team behind […]
The United States Securities and Exchange Commission (SEC) is approaching its deadline to appeal a court decision in favor of Grayscale Investments. The court ruled that the SEC must review Grayscale’s application for a spot Bitcoin fund. While it is unlikely that the SEC will appeal the decision, analysts believe there are still ways for […]
Terraform Labs, founded by Do Kwon, has accused market maker Citadel Securities of intentionally causing the depeg of its stablecoin, TerraUSD Classic (USTC), in 2022. Terraform Labs has filed a motion in a US District Court to compel Citadel Securities to produce documents related to its trading actions during the time of the depeg. The […]
Decentralized finance (DeFi) platform Platypus Finance has suffered another flash loan exploit, resulting in a loss of over $2 million. The hack was first reported by blockchain security firm PeckShield on October 12th, prompting the platform to temporarily suspend all pools. The attackers targeted the AVAX-sAVAX liquidity pool. CertiK’s investigation revealed that approximately $1.3 million […]
The Bank for International Settlement (BIS) has launched a new crypto surveillance program called “Project Atlas” in collaboration with several European banks. The project aims to gather data for comprehensive transaction surveillance of international crypto asset flows. Project Atlas is currently in the pilot phase and involves the BIS, Eurosystem, De Nederlandsche Bank, and the […]
