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“# Possible Yearn rival Convex Finance passes $1 billion in total value locked ” While much of the market reels from a devastating pullback that has dragged DeFi’s closely-watched total value locked (TVL) figure down from all time highs, one protocol is shrugging off the macro weight and surging up the TVL leaderboard. Ethereum-based Convex…
“# Understanding the systemic shift from digitization to tokenization of financial services ” The financial industry has seen a rise in demand for exposure to digital — and crypto — assets in all asset classes. This has led to interest, demand and investment from institutional finance, ranging from digital asset custody to digital asset trading…
“# Could DeFi-powered banks become an unstoppable force in finance? ” For decades, a lack of innovation has stifled the banking sector. We still live in a world where cross-border payments can take several days, and inefficient algorithms deny loans to consumers who can afford to pay them back — all because they don’t fit…
“# Nebraska bill to allow banks to offer crypto services passes to final round ” Lawmakers in the U.S. state of Nebraska have taken another step towards passing a bill that will allow state banks to offer cryptocurrency services. According to a May 19 tweet from Senator Julie Slama, the legislature called LB 649 has…
“#Goldman taps former Uber executive to lead its consumer bank” Goldman Sachs has tapped a former Uber executive to lead its fledgling consumer banking division, whose retail lending arm Marcus has seen heavy turnover since its launch. Peeyush Nahar, who at Uber had overseen teams that developed software for payments, insurance and other fintech, has…
“# Banking system consumes two times more energy than Bitcoin: research ” Amid the ongoing concerns over Bitcoin’s (BTC) energy consumption, a new study states that the traditional banking system consumes much more energy than the Bitcoin network. Michael Novogratz’s cryptocurrency firm Galaxy Digital released a report Friday titled “On Bitcoin’s Energy Consumption: A Quantitative Approach…
“# Got crypto? Here are 3 debit cards that let you spend your stack ” As blockchain technology and the public’s awareness of cryptocurrency continues to grow, a range of new use cases a coming to market and enhancing the efficacy of legacy financial systems. Despite its many applications, the original use case for Bitcoin…
“# Publicly-traded First Foundation invests in NYDIG as belief in digital assets grows ” “We believe digital assets are an important part of the future landscape of financial services and we are pleased to be a part of its evolution as we seek to serve the growing needs of our clients,” said First Foundation CEO…
“#Exhausted staff fleeing Goldman Sachs’ Marcus division: report” It’s not just investment bankers who are burning out at Goldman Sachs. The Wall Street titan’s hard-charging culture is reportedly driving exhausted staffers out of Marcus, the consumer-focused business it launched to compete with Main Street banks. Large numbers of engineers, designers and product managers have headed…
“# No-collateral lending protocol Teller opens public alpha to NFT holders ” Teller Finance, a project building an undercollateralized lending protocol for decentralized finance, has announced the launch of its mainnet alpha stage. This will enable certain users to obtain credit without requiring to post collateral, which is the case for most other DeFi lending…