Calling a spade a spade holds Binance’s lesser known cofounder in good stead
As the world’s biggest cryptocurrency exchange battles the onslaught of regulators globally, cofounder Yi He is stepping out of the shadows to help steer the company.
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BNY Mellon to become custodian for USDC reserves
Circle has selected one of America’s oldest banks, BNY Mellon, as the primary custodian for the world’s second-largest stablecoin USDC’s reserves. See related article: USDC to be 100% backed by cash, US Treasuries Fast facts USDC issuer Circle chief Jeremy Allaire had claimed the stablecoin became 100% backed by cash and short-term treasury bills after…
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South Korean banks seek green light on crypto
The Korea Federation of Banks (KFB) may request South Korea’s incoming presidential administration to approve local banks servicing cryptocurrencies, according to a leaked draft report. See related article: South Korea’s largest financial group mulls crypto ETFs Fast facts KFB, the largest body representing domestic lenders, wrote in its report that banks should be permitted to…
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How women artists are bridging the NFT gender gap
Despite the promises of decentralized technology, women remain vastly underrepresented in the NFT art world. Forkast talks to artists working to change that.
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WeChat bans NFT accounts, citing ‘crypto speculation’
WeChat has blocked more than a dozen accounts belonging to non-fungible token (NFT) marketplaces from its social media platform, citing prevention of “crypto speculation.” See related article: China state-backed paper’s NFTs surge in price on second-hand market Fast facts When visited, the banned accounts of the NFT marketplaces displayed a message from WeChat: “No legal…
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India’s financial stability at risk from cryptos: IMF
The International Monetary Fund (IMF) is voicing concerns over the adoption of cryptocurrencies in India, suggesting it poses significant risks to the country’s financial stability, local media report. See related article: Killing it softly or regulating to innovate? India at the crypto crossroads Fast facts Crypto assets pose significant risks, including to financial stability in…
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Should Tether’s shrinking cash reserves be cause for investor worry?
USDT, the world’s largest stablecoin, is now backed by much smaller cash reserves than before. XREX analyzes the risks.
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Can Ethereum’s proof-of-stake transition save the planet?
Ethereum’s transition to proof-of-stake promises to dramatically lower energy consumption, curbing greenhouse gas emissions that would require an annual offset by a forest roughly the size of Belgium.
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Is Dubai the new crypto promised land?
Top blockchain and cryptocurrency news: Dubai’s crypto caravan. Mt. Gox unlocked. Digital yuan in play again.
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DeFi lender Aave’s token has surged over 80% since V3 launch
Decentralized finance (DeFi) lending protocol Aave’s governance token surged 84% since its March 16 V3 upgrade, and was trading at US$220.01 at press time, according to CoinGecko data. See related article: DeFi lending platform Aave to ‘build Twitter on Ethereum’ Fast facts Aave is also the top gainer in the past 24 hours with a…