Majority of the DeFi tokens traded in red with several registering double digit losses over the past week. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. This past week, Celsius’s financial troubles mounted further as a new…
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An independent review from the accounting firm BDO reported that the stablecoin issuer’s total assets exceed its consolidated liabilities. An announcement from USDT issuer Tether Holdings Limited revealed information from an independent attestation about the company’s previous quarter’s performance. The reviewer, top accounting firm BDO Italia, assessed Tether’s assets as of June 30, 2022. Tether had…
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Ukrainians will be able to purchase electronics and other products with digital coins thanks to a service provided by Whitepay. The payment processor, established by the Ukrainian-born digital asset exchange Whitebit, has recently implemented crypto payments in the country’s largest tech stores. Crypto Platform Whitepay Launches Coin Payments in Major Tech Stores in Ukraine Whitepay,…
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Data from crypto analytic firm Glassnode shows future long liquidation of BTC touched a new 8-month high as BTC price crashed below $22,000 on Friday. The crypto market registered a major slump on Friday, resulting in major cryptocurrencies losing key support and falling to new monthly lows after a prolonged bullish surge over the past…
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A Russian national suspected of laundering ransomware payments in cryptocurrency on behalf of cybercriminals targeting hospitals has been extradited to the U.S. by the Netherlands. The man was allegedly involved in the criminal activity for a period of three years before his arrest in Amsterdam last November. Alleged Russian Money Launderer Handed Over to U.S.…
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AVAX price gave up recent gains after correcting by 16% and the network’s declining TVL and DApp use suggest that the protocol is losing ground versus its competitors. After an impressive 73% rally between July 13 and Aug. 13, Avalanche (AVAX) has faced a 16% rejection from the $30.30 resistance level. Some analysts will try…
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The banking authority said avoiding risk by cutting off crypto-involved clients may pose a “threat” to financial integrity. The Prudential Authority of the Reserve Bank of South Africa sent out guidelines to its subsidiaries in an effort to prevent illicit activities, encouraging banks not to cut all ties with cryptocurrency. It suggested that such an…
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Power needs of cryptocurrency miners in Russia have grown significantly since 2017, with consumption of electrical energy seeing a 20-fold increase over the five-year period. In 2021, the minting of the coin with the largest market cap, bitcoin, required 1.25 gigawatts in the country. Experts say, however, that Russia has the spare capacities to satisfy…
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David Schwartz compared crypto miners in the Ethereum and Bitcoin ecosystem akin to shareholders of eBay, which he believes makes BTC and ETH a security as well. David Schwartz, the chief technical officer of Ripple, didn’t take Ethereum co-founder Vitalik Buterin’s dig on XRP very kindly. In a discussion that started around the recent $30,000…
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U.K.-based digital bank Revolut has been authorized by Cyprus to provide cryptocurrency services to millions of customers on the Old Continent. The fintech firm says the regulatory approval will allow it to establish a European crypto hub in the island nation.
Revolut to Expand Crypto Services for Europeans From Cyprus
A leader in the…
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