A new proposal has been submitted by the Arbitrum community, which asks the Arbitrum Foundation to transfer 700,000,000 ARB tokens back to the DAO Treasury. In March, the Arbitrum Foundation moved the money without consulting the community beforehand. The suggestion states that the foundation’s financial plan should continue only when
According to a recent assessment from the United States Treasury Department, crypto, consumers, and national security are all at risk due to inadequate cybersecurity measures within the decentralized finance (DeFi) sector. This groundbreaking report is the first to propose that the decentralized and distributed structure of DeFi necessitates further regulatory
On April 6, the first-ever illicit finance risk assessment report of the year 2023 released by the U.S. Treasury Department. Furthermore, this demonstrates the focus on decentralized finance (DeFi) and money laundering services eliciting risk assessment. Meanwhile, the decentralized market intimidates the nation’s security. DeFi Ensures Financial Safety The reports
In order to increase SNX token liquidity and market making on both centralized and decentralized exchanges, the Synthetix Treasury Council has announced a strategic agreement with DWF Labs. As a result of the collaboration, DWF Labs will include Synthetix perpetuals in their trading operation and expand to be a substantial volume
The DAI stablecoin’s issuing body, MakerDAO, has voted in favor of increasing its allocation to existing US Treasury holdings. DAI’s stablecoin liquid backing is being diversified by exposure to real-world assets (RWAs). Such as an increase in investments in government treasury bonds. Last year, MakerDAO’s RWA strategy kicked off with
In response to the collapse of Silicon Valley Bank, Paystand’s blockchain-enabled payment network delivers a suite of new solutions for finance teams to better manage, control, and access their cash at all times. SCOTTS VALLEY, Calif.–(BUSINESS WIRE)–On Thursday, March 9, 2023, tens of thousands of companies who had all of
A recent update from the Circle team regarding USDC operations guarantees the removal of backlogs. Additionally, a request for redemption of USDC has also been made, at the EOD of the U.S. banking sector on March 15th. Update: As of close of U.S. banking operations Wednesday, March 15, we have
Signature Bank Announces Buyback of Common Shares NEW YORK–(BUSINESS WIRE)–Signature Bank (Nasdaq: SBNY), a New York-based, full-service commercial bank, announced today updated financial figures as of March 8, 2023 and reiterated its strong, well-diversified financial position and limited digital-asset related deposit balances in the wake of industry developments. To this
Almost $5 billion worth of BUSD stablecoins have been redeemed. Since Paxos stated on February 13, 2023, that it will no longer issue the dollar-pegged cryptocurrency BUSD. There were around 16.1 billion BUSD coins in circulation at the time of the announcement. But there are now only about 11,129,348,406 BUSD
As per the crypto whale alert, 97,858,390 #BUSD (97,868,345 USD) have been burned at Paxos Treasury following the recent crackdown of authorities. Previously, in the second week of this month, Paxos, the issuer of the $16 billion Binance USD (BUSD) stablecoin, burned more than $700 million of BUSD tokens. That
