The digital asset ecosystem in Europe expands as institutions broaden their services to decentralized finance (DeFi) amid market turmoil. A new market report released by on-chain analytics from Chainalysis shows industry growth in Central, Northern, and Western Europe (CNWE) as well as the United Kingdom’s (UK) dominance in its jurisdiction and the effects of the…
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The Bank of Canada published a staff analytical note that mirrors the development of decentralized finance (DeFi) alongside possible routes of wider market regulations. The staff note released on Oct 17 shows the development stages of the cryptocurrency market, its benefits, challenges facing traditional finance, risk, and possible impact on financial markets alongside regulations…. Read…
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On October 6, 2023, Thorswap halted its services temporarily. However, the platform recently declared its return to full operation with some notable modifications. An array of approximately twelve countries are now barred from utilizing Thorswap, while the decentralized exchange (dex) platform’s operators disclosed a collaboration with an organization to introduce “some extra guardrails” aimed at…
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Decentralized finance (defi) brings risks for investors but is yet to pose “meaningful risks” to financial stability, according to Europe’s securities watchdog. The agency believes, however, the phenomenon deserves attention in light of the EU’s new crypto rules as well as growing user base and has presented its assessment of the sector’s development. Defi Requires…
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Decentralized finance (DeFi) exchange Uniswap has launched a mobile wallet application for Android users on Thursday, after launching on iOS in April. Following the iOS launch, Uniswap saw an influx of downloads and became the top three wallet for new downloads, the exchange said in an official announcement…. Read More: Decentralized Crypto Exchange Uniswap Brings…
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Lookonchain, a blockchain tracking platform, now reveals that one stablecoin holder lost over $100,000 after panic selling USDR, a stablecoin issued on the Polygon network, for zero USDC after it depegged on October 11. The stablecoin holder swapped 131,350 USDR for zero USDC, allowing an MEV bot to swoop in and claim $107,000 in profit. The USDR…
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Decentralized finance (DeFi) lending project BarnBridge has announced a token-holder voting to tackle the legal charges that the project is facing from the US Securities and Exchange Commission (SEC), along with fines. BarnBridge confirmed in July that is it facing a probe from the US regulators and halted “all work” related to the project in…
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The European Securities and Market Authority (ESMA) has released a report on the development of decentralized finance (DeFi) and the risk posed by growing adoption. In a report released on Oct 11, the 22-page document highlights the risks posed by a sector that holds much promise and reshaped finance in the region…. Read More: EU’s…
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FloorDAO, a crypto group focused on NFT finance, has split into two separate entities due to disagreements among investors. The project, which aims to develop products for “NFT-Fi,” transferred over $2.5 million from its treasury, consisting of crypto tokens and NFTs, to a splinter group called FloorkDAO. The group is controlled by activist investors who…
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Backed Finance, a real-world asset tokenization issuer, announced its successful issuance of the first tokenized security on Coinbase’s Base, a layer two (L2) blockchain. The team introduced bIB01 tokens to the decentralized finance (defi) sector, mirroring the price dynamics of the Ishares short-term Treasury bond ETF. Tokenizing U.S. Bonds on Coinbase’s L2 According to Backed…
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