Day: 2 August 2021

FTX cryptocurrency exchange’s valuation has hit a record $18 billion following a $900 million funding round that closed Tuesday. Coming at a time Bitcoin’s price crashed and now selling below $30,000, the second time in less than two months, the valuation shows the daring passion of investors in digital assets. ...

Yuga Coin, a stablecoin designed to be backed by government debt, has been awarded a U.S. patent, the two co-founders of the Puerto Rico-based digital FV Bank have said, noting their place as first in history. According to a patent application filed in 2020, the two co-founders, Nitin Agarwal and ...

With questions about how Tether’s USDT has kept its head above water for so long and Circle announcing plans to go public, stablecoins have never been so much talked about since they came into existence seven years ago. For the record, stablecoins are digital assets that exist without the volatility ...

Regulators in the U.S. state of Texas have alleged that BlockFi’s Interest Account (BIA) product is a “security” under state rules.  Texas becomes the third state in the United States to launch what seems to be a crackdown on the business of BlockFi. Just like Alabama and New Jersey, Texas ...

American fintech giant Mastercard is partnering with major cryptocurrency-based companies to help them and traditional financial institutions provide clients with cryptocurrency cards. Announcing plans to revamp its crypto card payment, the company, in a statement said, “Mastercard and its partners will test this new capability to enable more banks and ...

Recently, Jack Dorsey, the CEO of Square (NYSE: SQ) announced a new business that will focus on the growing Decentralized Finance (DeFi) network. Square has always had an interest in cryptocurrency and it aims to build its DeFi protocols on the Bitcoin Blockchain. Dorsey, in a tweet, says this new ...

The world’s largest digital asset manager, Grayscale Investments, has teamed up with CoinDesk Index, to launch the Grayscale Decentralized Finance (DeFi) Fund. The Grayscale DeFi Fund is a newly diversified investment product that is now open to daily subscription by accredited individuals and institutional investors.  The DeFi Fund is Grayscale’s ...

DeFi platforms are currently valued at over $10 billion and several innovations have boosted this space by over 1000%. However, several loopholes seem to exist even with the exponential rise of these platforms. Some of these shortcomings include poor user experience, smart contract vulnerabilities, insufficient cross-chain interoperability, a lack of ...

One of the biggest Bitcoin mining operators in North America, Core Scientific, is ready for a public listing on Nasdaq following a $4.3 billion deal with SPAC. Core, according to CNBC on Wednesday, inked the $4.3 billion mergers with Power & Digital Infrastructure Acquisition Corp — a special purpose acquisition company (SPAC). ...

Blockchain operates similarly to the internet, with interconnected computers called nodes that store and independently verify shared data. It is simply a distributed ledger of records that cannot be altered across computers in a network. Blockchain has three key attributes: immutability, decentralization, and transparency. Data stored on the blockchain is ...