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Some say that meaningful change happens gradually. Others insist it erupts unexpectedly. This week, we saw that both are true. Earlier this week, the Wyoming Banking Board voted to approve the application from San Francisco-based crypto exchange Kraken for a Special Purpose Depositary Institution (SPDI) banking charter. Yes, one of the crypto industryâs oldest exchanges has become a bank. This...
âI think that Uniswap is one of the premier DeFi [decentralized finance] protocols, and its token is as well,â Sam Bankman-Fried, CEO at Alameda Research, told CoinDesk via email. âIt has been the largest decentralized trading venue for a long time.â The praise is noteworthy as Bankman-Fried is credited with saving SushiSwap, Uniswapâs chief competitor. Last night, the top automated...
Mchael Saylor, the founder of MicroStrategy, said Tuesday his company has acquired an additional $175 million in bitcoin (BTC) in a single purchase. Saylor said on Twitter that his business intelligence company had completed the acquisition of 16,796 bitcoin on Monday. This has significantly increased the total size of MicroStrategy's bitcoin holdings up to 38,250 bitcoin â worth roughly $416...
No loyalty among yield farmers. Uniswap now has more value locked (TVL) than its upstart rival, SushiSwap, less than a day after SUSHI block rewards for liquidity providers (LPs) dropped from 1,000 tokens to just 100. TVL on SushiSwap fell from $1.46 billion worth of crypto assets on Saturday around 23:00 UTC to $885 million as of press time, according...
Is DeFI unravelling, or are these just growing pains? The rapidly expanding DeFi space is becoming riddled with scams as another suspicious project has headed for the exits carrying speculators' money. "A new liquidity mining pool DeFi project, Yfdexf.Finance has exited the market after defrauding investors of $20 million in total funds locked in its protocol," media outlet ZyCrypto wrote...
The New York Attorney Generalâs office (NYAG) wants Tether and Bitfinex to immediately turn over documents detailing a $900 million line of credit the first entity extended to the second, according to a new filing with a public court system. The NYAGâs office began a formal inquiry into Bitfinex and Tether last April, when it alleged Bitfinex had lost access...
Cryptocurrency is the buzzword flying around the trading community for the last decade. Bitcoin was the first to show the real power of unregulated digital currency that allowed quite a number of people to acquire wealth through sheer patience. Some have bought it back in 2008 and kept their wallet to themselves, even forget about them for a bit, just...
SushiSwap investors were handed a raw deal over the weekend after the pseudonymous founder of the $1.27 billion, 1.5-week-old decentralized finance (DeFi) protocol cashed out. A fork of DeFi darling Uniswap, SushiSwap is the brainchild of a pseudonymous founder, Chef Nomi, who took the former project an extra yard by adding rewards for providing liquidity to the exchange through a...
The governor of the Bank of England (BoE) has said stablecoins need global regulation, warning private issuers that an international regulatory framework could soon be in the cards. Governor Andrew Bailey said regulators have to come together for a "global response" so they can effectively regulate stablecoins. Speaking Thursday, he said the international nature of stablecoins, which can be based...
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