The court accepted the Plaintiffs’ requests to provide “undoubtedly important” documents in the alleged fraud case. The judge for the United States District Court for the Southern District of New York, Katherine Polk Failla, ordered Tether to prove 1-to-1 backing of its eponymous stablecoin, Tether (USDT). The company is required to provide “general ledgers, balance…
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Scalability trilemma implies that to scale, blockchains usually need to sacrifice one of their three fundamental cornerstones — security or decentralization, or transaction throughput. After a successful Ethereum Merge, all eyes are set on the next phase of transition that would introduce key scalability solutions on the platform, including sharding. Market experts believe sharding would be a…
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A hacking attack targeting crypto market maker Wintermute has resulted in the decentralized finance (DeFi) industry player losing some $160m to the attackers. “We’ve been hacked for about $160M in our defi operations. Cefi and OTC operations are not affected,” Evgeny Gaevoy, the company’s CEO, tweeted, indicating that Wintermute’s centralized finance and over-the-counter activities were…
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The Hong Kong Monetary Authority (HKMA), the territory’s de facto central bank, is aiming to launch trials of the e-HKD, its central bank digital currency (CBDC), in the fourth quarter of this year. If successful, the initiative could facilitate the global rollout of the digital yuan, China’s CBDC project which continues its adoption drive across…
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The US Department of Treasury is seeking public opinion on the “responsible development of digital assets.” Its questions focus on a variety of crypto-related aspects, including decentralized finance (DeFi), non-fungible tokens (NFTs), mixers, virtual asset service providers (VASPs), and the digital dollar…. Read More: US Treasury Begins Public Consultation on How to Regulate Crypto Read…
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Bitcoin price started an upside correction above the $19,000 level. BTC is currently (11:10 UTC) struggling to clear the $19,620 resistance. A clear move above $19,620 might send the price towards $20,000 or even higher. Similarly, most major altcoins are facing hurdles. ETH is facing resistance near the $1,390 and $1,400 levels. XRP outperformed and…
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… Read More: New Cryptocurrency Launches for 20 September 2022: TAMA, MGS, MPLX, SWEAT Read more »Sign up for e-EUR – the progressive stablecoin
The offshore exchange rate of China’s fiat currency versus the U.S. dollar recently breached the 7:1 mark for the first time in over two years, after it touched a new 2022 low of 7.0188 yuan for every dollar on September 15. Similar to other global currencies that have depreciated in 2022, the yuan’s decline is…
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The Indian government is reportedly planning to finalize its stance on the legality of cryptocurrency by the first quarter of next year in order to become Financial Action Task Force (FATF) compliant. “We will finalize our responses by February-March 2023. We have to respond to the FATF by May,” a government official said.
India Finalizing…
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Binance, one of the biggest crypto exchanges by volume traded, has announced its expansion plans for Brazil. The exchange will open two new offices in the country to host 150 employees, who will be able to choose if they want to work in-office or remotely. The company also hinted at the launch of a debit…
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