In a major step toward fusing decentralized finance (DeFi) with conventional financial markets, MANTRA recently announced the launch of its Hongbai Incentivized Testnet. Following the success of MANTRA Chain’s testnet phase one, the Hongbai Testnet was introduced. For around 100,000 anxiously expecting participants, it now opens the floodgates, allowing them to
April 10, 2024 2 mins read
A request for greater oversight of crypto validators and stablecoin users has been made by Senator Elizabeth Warren in an effort to reduce illegal trade on a worldwide scale. Warren brought attention to the fact that cryptocurrency companies need to adhere to the same Anti-Money Laundering (AML) rules as more
April 10, 2024 2 mins read
In light of the recent uptick in activity on the dYdX decentralized crypto exchange (DEX), the community has decided to stake 20 million DYDX tokens in an effort to beef up security. Staking tokens from the community treasury, which are now worth over $61 million at current prices, using the
April 8, 2024 2 mins read
There has been talk of a potential vote by Aave Chan Initiative founder Marc Zeller to activate a “fee switch” on the Aave DeFi (Decentralized Finance) platform. The Aave DAO’s yearly net gains are about $60 million, and Zeller’s article on X hinted at some thoughts that it may influence
April 8, 2024 2 mins read
Genesis Global Capital announced a successful sale of its Grayscale Bitcoin Trust (GBTC) shares. The defunct crypto lending firm used the funds to purchase 32,041 Bitcoins. The corporation is making this move to appease its creditors and customers. A total of over 36 million GBTC shares were sold out. The
April 6, 2024 1 min read
The Supreme Court of Montenegro overturned a previous court’s decision on the extradition of Do Kwon, co-founder of Terraform Labs. After the prosecution appealed the verdict of the appellate court to deny Kwon’s defense team’s appeal, the decision was made. In its April 5th decision, the Supreme Court highlighted the
April 5, 2024 1 min read
In an effort to gain market share in the next five years, Ripple, the issuer of XRP, has revealed intentions to establish a stablecoin backed by the US dollar. The goal is to compete with Tether and Circle. Preceding the release, which details plans for the stablecoin initially issued on
April 5, 2024 1 min read
Users may now fund international Xoom transfers using PayPal USD (PYUSD), the company’s dedicated stablecoin linked to the U.S dollar. This is a new feature that Xoom, a PayPal cross-border money transfer service, has introduced. Xoom customers in the US will not be charged any transaction fees by PayPal when
April 5, 2024 2 mins read
According to ARK Invest CEO Cathie Wood, Bitcoin’s (BTC) ascent might be attributed to its status as a “flight to safety” from depreciating fiat currencies. In an interview that was made public on April 3 by CNBC, Wood characterized BTC as an investment that has both upside and downside risks.
April 4, 2024 1 min read
Deribit, a global leader in cryptocurrency options and futures, is moving its operations to Dubai after a fresh green light from the region’s regulators. The Deribit group’s Dubai subsidiary, Deribit FZE, was declared by Deribit on April 2 as having obtained a VASP license from the Virtual Asset Regulatory Authority
April 3, 2024 1 min read
