The total value locked in DeFi plunged by nearly $5 billion in the past week, falling to $44 billion, according to DappRadar data. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. A new analysis by…
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CoinShares’ subsidiary and broker-dealer registered with FINRA will be conducting marketing activities for the new hedge fund division in the United States. Major European cryptocurrency asset manager CoinShares is launching a hedge fund division in the United States despite the country’s tough crypto regulation climate. CoinShares officially announced the news on Sept. 22, stating that…
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The deal was first finalized in August, with Anchorage as another party agreeing to an equity stake in the bankrupt crypto miner. Cryptocurrency mining hardware maker Bitmain and bankrupt crypto mining firm Core Scientific have agreed on a combination of equity and cash to finalize the deal on expanding mining facilities. The deal between the two…
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Presidential hopeful Vivek Ramaswamy is working on a crypto policy framework that he aims to finalize by Thanksgiving. The Republican criticized the regulation-by-enforcement approach of U.S. government agencies like the securities regulator under the administration of President Joe Biden and vowed to cut three-fourths of their personnel. Presidential Candidate Vivek Ramaswamy Preparing His Crypto Platform…
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The Near Foundation treasury grew to $350 million under Flament’s tenure. Marieke Flament, CEO of Near Foundation — the developer of the namesake layer-1 protocol — has resigned. According to the Sept. 21 announcement, Chris Donovan, Near Foundation’s general counsel, will replace Flament as the new CEO following the resignation. Flament gave no specific reason…
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The financial regulator expressed its frustration at the lack of engagement from crypto firms in a strongly worded letter. The Financial Conduct Authority (FCA), the United Kingdom’s financial markets regulator, has again expressed its concern over the lack of engagement on the part of crypto firms that will soon be subject to new marketing rules.…
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Tether said the new loans were made at the request of some of its long-standing partners, and it plans to cut it down to zero by 2024. Tether, the largest stablecoin issuer in the crypto market, has seen a rise in its stablecoin lending, or secured loans, in 2023, despite the firm having announced it…
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South Korean tax payers have declared some 131 trillion won (more than $98 billion) of crypto holdings in overseas accounts this year. The amount was announced by the country’s tax agency and it comes after the authorities in Seoul imposed a mandatory reporting requirement for financial assets held abroad. Almost 1,500 South Korean Firms and…
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The bot was valued at $16.5 million during its token debut last month. None Trading, a trading tool for cryptocurrencies and nonfungible tokens (NFT) built on Discord, has shut down due to a “critical exploit” within its infrastructure. In a Sept. 20 announcement, None Trading said it had “lost a significant amount of funding” as well…
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One year after the Ethereum Merge, Grayscale has finally made the decision to abandon all the rights to proof-of-work Ethereum tokens. Major cryptocurrency investment firm Grayscale has finally mad the decision to abandon all the rights to the post-Merge proof-of-work (PoW) Ethereum tokens (ETHPoW). Announcing the news on Sept. 18, Grayscale said that the firm…
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