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Former FTX President Launches New Crypto Venture, Raises $5 Million From Leading Investors
20.1.2023
Less than a week ago, Brett Harrison, the former president of FTX US, published a 49-part Twitter thread describing his side of the story when he worked for the disgraced co-founder of FTX, Sam Bankman-Fried (SBF). On Friday, Jan. 20, 2023, Harrison revealed that his new firm, Architect, has raised...
DeFi should complement TradFi, not attack it: Finance Redefined
20.1.2023
Top 100 DeFi tokens continued their bullish momentum into third week of January with majority of the tokens trading in green on weekly charts
Swapped Finance announces partnership with Kana Labs for Shardeum
20.1.2023
Swapped Finance recently announced a collaboration with Kana Labs. This development welcomed Kana Labs into the Shardeum, a smart contract platform. Shardeum, which was built on the Ethereum Virtual Machine (EVM), will promote blockchain through Kana Labs. Kana Labs will assist in connecting...
Silvergate Capital Incurs Loss of $1 Billion in Q4 of 2022
20.1.2023
Silvergate Capital Corporation, the parent firm of the crypto-focused bank Silvergate Bank, has attributed the $1 billion loss it incurred in the fourth quarter of 2022 to the confidence crisis that permeates the entire crypto ecosystem. While Silvergate has taken steps to help it navigate...
1inch Network Launches Hardware Wallet for Storing Users’ Private Keys in a Secure Offline Setting
19.1.2023
The decentralized exchange aggregation service 1inch Network has announced the launch of a cold storage hardware wallet. The team notes that the project is in its final stages of development. The hardware wallet, expected to go on sale later this year, features a 2.7-inch e-ink grayscale touch...
Decentralized forex will reduce cost by as much as 80%: Report
19.1.2023
The researchers compared the average cost of remittances according to World Bank data with estimated costs of trading USDC and EUROC stablecoins at Uniswap
Saudi Arabia Open to Trading in Currencies Other Than US Dollar, Signaling a Shift Toward De-Dollarization
19.1.2023
After a 48-year relationship solely with the U.S. dollar, Saudi Arabia’s Finance Minister, Mohammed Al-Jadaan, said the kingdom is open to trading in currencies other than the U.S. dollar. The statements follow China’s president, Xi Jinping, urging the Gulf monarchs to accept yuan...
Russia’s Crypto Mining Bill ‘Has Stalled,’ Says Finance Ministry
19.1.2023
Russia’s crypto mining legalization bill has hit a last-minute obstacle, and the draft law’s progress has now “stalled,” the nation’s Ministry of Finance conceded.
Per Finmarket, the nation’s Deputy Finance Minister Alexei Moiseev told reporters on Wednesday that the long-awaited bill – which...
Eurozone Finance Ministers Pledge Support for Digital Euro Project, Talk Privacy
19.1.2023
The ministers of finance of the countries in the eurozone reaffirmed their support for efforts to prepare for the potential launch of a digital euro. Meanwhile, the single currency area’s monetary authority sought to reassure future users that the new currency will be “preserving privacy by default...
Digital Currency Group Suspends Dividends Amid Regulatory Trouble With Subsidiary Genesis
18.1.2023
According to a shareholders’ letter from Digital Currency Group (DCG) viewed by finance and crypto publication Coindesk, the company has suspended dividends until further notice. This news follows the U.S. Securities and Exchange Commission (SEC) charging a subsidiary firm of DCG, Genesis...
DeFi Service Frax Finance Gains Momentum Amid Ether Staking Narrative, FXS in Focus
18.1.2023
High yields on Curve-related pools have attracted millions of dollars worth of ether to Frax in the past few weeks
FTX Bosses Voiced Their Concerns About Client Fund Use, Court Papers Show
18.1.2023
According to court papers,
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The authorities claim that Sam Bankman-Fried siphoned billions of dollars in customer funds from FTX and used the money to make political contributions, finance trading at Alameda and buy luxury real estate in the Bahamas, where FTX was based. The two managers...
Iran and Russia Consider Issuing Gold-Backed Stablecoin, Officials Unveil
18.1.2023
Tehran and Moscow are discussing the possible launch of a stablecoin for international settlements, the Russian press revealed. In order to mint the gold-backed currency, however, authorities would need to first regulate crypto assets, a lawmaker noted. Russian, Iranian Representatives Talk Using...
Smart Contract Tokens, Defi Economy See Strong Growth, Market Capitalization Swells by $78 Million in 30 Days
17.1.2023
Smart contract tokens and the decentralized finance economy have been on a tear during the last month, gaining against the U.S. dollar. The market capitalization of the smart contract platform token economy has swelled by $78 million over the last 30 days, increasing from $243 billion to...
Masa Finance launches soulbound Web3 identity protocol for Ethereum, Celo
17.1.2023
According to the developers, the soulbound credit score system uses over 10,000 data points to determine a Web3 user’s creditworthiness
Defi Lending Sector Experiences Major Shake-Up: 71% of Total Value Locked Evaporates in 12 Months
17.1.2023
Decentralized finance (defi) has continued to remain deeply ingrained in the cryptocurrency economy as the ecosystem provides users with a non-custodial way to exchange digital assets, lend cryptocurrencies, issue stablecoins, and ways to profit from arbitrage. In the lending sector of defi, a...
Masa Finance launches soulbound Web3 identity protocol for Ethereum
17.1.2023
According to the developers, the soulbound credit score system uses over 10,000 data points to determine a Web3 user’s creditworthiness
2023’s Crypto Gainers: Decentraland’s MANA Token Outperforms Bitcoin With 88% Increase in One Week
17.1.2023
The cryptocurrency economy is doing well during the third week of the new year, compared to the end of 2022. It is currently valued at $993.17 billion, as many digital assets have seen double-digit gains during the last two weeks. While some of the top ten cryptocurrencies, like bitcoin...
Monex Mulls Purchase Of FTX's Japanese Subsidiary
17.1.2023
Monex Group, a financial services company based in Tokyo, has shown an interest in buying up the Japanese subsidiary of Sam Bankman-Fried’s defunct FTX crypto platform, according to Oki Matsumoto, the CEO of Monex....
Read More: Monex Mulls Purchase Of FTX's Japanese Subsidiary
European Finance Ministers Take Stock of Digital Euro Progress
17.1.2023
The Eurogroup, a body comprising the Finance Ministers of Eurozone countries, has made public several views after its meeting to take stock of the progress of the project to investigate the EU's central bank digital currency called the digital euro