Tokenized asset issuance platform Synthetix has secured a $20 million investment through a new partnership with Web3 investment and quantitative trading firm DWF Labs. The market making and algorithmic trading company acquired $15 million worth of Synthetix’ native token SNX paid for with USD Coin (USDC) in March 2023. DWF Labs will be tasked with
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A central bank digital currency (CBDC) can impact monetary policy by increasing money velocity, disintermediation, volatility of bank reserves, currency substitution and altered capital flows, even when it is not designed to do so, according to a study published by the International Monetary Fund. The unintended impact of a CBDC may be felt particularly acute
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The price of Bitcoin (BTC) surpassed $28,000 on March 21, but according to two derivatives metrics, traders aren’t very ecstatic after a 36% gain in eight days. Looking beyond Bitcoin’s stellar performance, there are reasons why investors are not fully confident in further price upside The recent rescue of Credit Suisse, a 167-year-old leading Swiss
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With the crypto economy experiencing significant gains over the past week and the price of ethereum rising 11.9%, the market capitalization of Lido’s staked ether has increased to $10.3 billion. This recent increase has propelled the token’s overall market valuation to the ninth-largest position, according to the crypto market capitalization aggregation website coingecko.com. Lido Finance’s
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Crypto.com announced it has obtained a minimal viable product (MVP) preparatory license from Dubai’s Virtual Asset Regulatory Authority (VARA). This preparatory phase operations license came after the exchange obtained provisional approval from the Dubai regulator in 2022. In the preparatory stage, the MVP license allows the exchange to fulfill the conditions to operate within set
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Blockchain technology can help solve current issues with settlements, according to the deputy chief executive of Sberbank. Russia’s largest bank is working with other financial institutions to develop blockchain-based payment applications, the banker revealed. Sberbank Sees Solution to Russia’s Troubles With Settlements in Blockchain With major Russian banks disconnected from the main global interbank payment
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Bitcoin ATM manufacturer General Bytes has shuttered its cloud services after discovering a “security vulnerability” that allowed an attacker to access users’ hot wallets and gain sensitive information, such as passwords and private keys. The company is a Bitcoin (BTC) ATM manufacturer based in Prague, and according to its website, has sold over 15,000 ATMs
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The Mid-Size Bank Coalition of America has asked federal regulators to extend FDIC insurance to cover all deposits for the next two years. “Doing so will immediately halt the exodus of deposits from smaller banks, stabilize the banking sector and greatly reduce chances of more bank failures,” the group claimed. “It is imperative we restore
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At the time of writing, the leading cryptocurrency is trading at $28,063, a 2.4% increase in the past 24 hours. The price reached $28,459 at its highest point during the day, before trading at $26,877 during the day’s low. Overall this week, Bitcoin has gained over 37% against the U.S. dollar. Bitcoin’s market capitalization added
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Venezuela’s president Nicolás Maduro has announced the reorganization of the National Superintendency of Crypto Assets, known as Sunacrip in Spanish, according to a decree issued on March 17. A new board will lead the reorganization, headed by Anabel Pereira Fernández, a lawyer who served as president of the Fondo de Garantía de Depositos y Protección
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