The CEO of stablecoin issuer Tether Holdings Ltd. has announced plans to increase the company’s employee headcount to 200 by mid-2025. The firm stated that a majority of the new employees will be assigned to the compliance team, while others will join the finance team. A Finance Behemoth With a Lean Structure Stablecoin issuer Tether…
Ethereum’s Aug. 4 decline could have been fueled by the liquidation of a portion of long positions in perpetual futures, the Grayscale report concluded. The crypto asset’s decline was epitomized by its over 7% drop in just three minutes on Aug. 4. Jump Crypto’s rumored offloading of more than 17,500 ether coins, as well as…
Former President Donald Trump, now a presidential candidate, has made Bitcoin a central focus of his campaign, promising to make the US a global crypto leader. Building on his father’s recent pivot toward crypto, Donald Trump Jr. is developing a new decentralized finance (DeFi) platform to address banking access inequality. Trump Jr Targets the Debanked…
A staff report published by several New York Federal Reserve employees found that Ethereum “is not immune to censorship and cooperation,” which depends on the roles of several actors across the network. The paper examined how the network performed after Tornado Cash, one of the main mixers in the blockchain, was sanctioned by the OFAC.…
Polymarket, a cryptocurrency-based prediction market, has declared Edmundo Gonzalez, the opposition candidate, the winner of the Venezuelan presidential election bet. The decision, made days after the election, ignores the official results announced by the National Electoral Council (CNE), which proclaimed Maduro as president amidst fraud allegations from opposition leaders. This prompted several users to question…
This week saw one of the most dramatic crashes in the cryptocurrency market—one that we hadn’t seen since the collapse of FTX in November 2022. What is even more interesting was the epic recovery of the majority of coins in the following days. Ultimately, the market ended up losing some $70 billion of its total…
Coinbase Chief Legal Officer Paul Grewal has raised concerns on social media regarding the Commodity Futures Trading Commission’s (CFTC) proposed rule to ban certain event contracts. Coinbase has also formally responded to the proposal, urging the CFTC to reconsider its stance, which the company argues could stifle innovation in the prediction markets. Coinbase Urges CFTC…
[PRESS RELEASE – Singapore, Asia, August 9th, 2024] Elacity is partnering with Particle Network and BeatFarm to create a more intuitive and accessible way for music superfans to interact with their favorite artists using decentralized technology. This collaboration aims to simplify access and exchange of content within the music industry. By integrating Particle Network’s Wallet…
Ripple Labs has initiated beta testing for ripple usd (RLUSD), a stablecoin pegged to the U.S. dollar, on both the XRP Ledger and Ethereum mainnets. The stablecoin is currently not available for public trading as it awaits regulatory approval. Ripple’s USD-Backed Stablecoin Enters Beta Phase Ripple usd or RLUSD, designed to maintain a 1:1 value…
In a recent interview with Kitco News, Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, warned that the current economic situation might surpass the 2008 financial crisis in severity. Drawing comparisons to pre-2008 indicators, McGlone highlighted significant risks of increased stock market volatility and global recession, particularly emphasizing economic challenges in China. He suggested that…