Why DeFi remains attractive to institutions in a bear market
Despite the bleak macro outlook, more institutions are looking to gain exposure to the DeFi sector, writes Robert Alcorn of Clearpool. Here’s why.
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Voyager gives Sam Bankman-Fried’s ‘low-ball’ bailout offer a single digit
Top blockchain and crypto news: SBF’s Voyager rescue deal spurned. Tesla pulls U-turn with BTC sale. Tencent cuts local NFT staff as it looks abroad.
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Scarred by Terra-LUNA, South Korea moves ahead with digital asset reform
Aiming to uncover the next “BTS in finance,” Chairman Kim Joo-hyun of the Korean Financial Services Commission (FSC) is calling for “bold reforms” in financial regulations, including in crypto assets.
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US stablecoin bill draft may be released this week: report
Lawmakers in the U.S. House of Representatives are pushing to introduce a stablecoin bill draft this week before the House breaks for August recess, according to four unnamed sources “familiar with the plan” cited by The Block. See related article: Hold onto your crypto bags, the regulators are coming Fast facts The proposal on stablecoin…
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S.Korea slaps ‘notification upon arrival’ on Terra’s Do Kwon
South Korean prosecutors investigating Terra-LUNA have requested the Ministry of Justice to place a “notification upon arrival” on Terraform Labs chief executive officer Do Kwon and a travel ban on Terra cofounder Shin Hyun-seung, according to local media reports. See related article: South Korean prosecutors said to have raided Terra cofounder Shin’s residence Fast facts…
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Crypto exchange Bullish’s 2Q average daily volume rises 3-fold on the quarter
Average daily volumes (ADV) at Bullish cryptocurrency exchange in the second quarter of the year rose by about 212% to US$522 million, up from US$167 million in the first quarter, according to a business update released on July 26. The exchange is operated by Bullish (GI) Limited and regulated by the Gibraltar Financial Services Commission. …
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Crypto exchange Kraken reportedly under investigation for Iran sanctions breach
U.S.-based crypto exchange Kraken is reportedly under investigation by the U.S. Treasury Department’s Office of Foreign Control for allegedly violating economic sanctions against Iran, according to the New York Times. See related article: US charges two Europeans with helping N.Korea evade sanctions with crypto Fast facts Kraken allegedly allowed users in Iran and elsewhere to…
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IMF says crypto crash hasn’t quite harmed broader financial system
The International Monetary Fund (IMF) said Tuesday that the cryptocurrency market turmoil hasn’t quite affected global financial stability. See related article: Crypto volatility hasn’t had macroeconomic implications so far: Jerome Powell Fast facts In a report published Tuesday, the IMF said crypto assets have “experienced a dramatic selloff” that has led to losses in crypto…
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KuCoin dismisses rumors, eyes India for growth: report
Cryptocurrency exchange KuCoin has “no exposure to LUNA & wLUNA,” and its recent fundraising “has nothing to do with the market downtrend,” the firm’s CEO said on his verified Twitter handle. See related article: How cold storage can ward against this crypto winter’s freeze Fast facts KuCoin CEO Johnny Lyu was responding to rumors about…
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Binance’s Changpeng Zhao sues Bloomberg publisher in HK
Binance founder and CEO Changpeng Zhao is suing the Hong Kong publisher of Bloomberg Businessweek for defamation for an article published last month. See related article: Binance fined by Dutch central bank for improper registration Fast facts Zhao Monday filed a lawsuit in Hong Kong against Modern Media Co. Ltd., which publishes the Chinese edition…