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“# Senators pressure Facebook to ‘immediately discontinue’ Novi wallet pilot ” Five Senators have called for the immediate closure of Facebook’s new crypto wallet just hours after it was launched in partnership with Coinbase. Crypto skeptic Senator Elizabeth Warren was one of the five urging Facebook CEO Mark Zuckerberg to “immediately discontinue” the project. In…
“# Powerful blockchain lobby group urges Washington not to overregulate stablecoins ” A high-profile blockchain lobby group is urging United States lawmakers to adopt a “technology-neutral” approach when it comes to stablecoin regulation, arguing that dollar-pegged cryptocurrencies do not pose a system risk to the financial system. In a 17-page letter addressed to the President’s…
“# One currency to rule them all: Facebook’s Diem has global ambitions ” The year 2021 seems to be a big year for the blockchain world as several projects, such as nonfungible tokens (NFTs) and centralized decentralized finance exchanges (CeDeFis), are taking the central stage. Also at the forefront is Facebook’s Libra. Not too long…
“# Magic Internet Money races past $1B, sets sights on MakerDao ” Abracadabra Money’s stablecoin Magic Internet Money (MIM) has surged past a $1 billion total supply this month as the project works to provide competition to MakerDAO. Abracadabra is a cross-chain stablecoin lending protocol that operates on Ethereum, Binance Smart Chain (BSC), Fantom, Avalanche,…
“# Tether fires back against report it is using reserves for investments and making crypto-backed loans ” Tether (USDT), the largest stablecoin issuer by market capitalization, has refuted the details of a Bloomberg story on its reserves holdings. In a Thursday report, Bloomberg journalist Zeke Faux made numerous claims against Tether, including that its chief…
“# MakerDAO founder’s plans to address climate change and pivot back to ETH ” MakerDAO founder Rune Christensen has published an essay outlining measures that could be taken to make the protocol a vehicle for addressing climate change. In a lengthy Oct. 5 post published to the MakerDAO governance forum, Christensen asserts that MakerDAO should strive…
“# MoneyGram launches USDC settlement using the Stellar blockchain ” Financial services company, MoneyGram International, has partnered with the Stellar Development Foundation to enable consumers to send money using Circle’s popular stablecoin, USD Coin (USDC) and convert directly to and from fiat. Per a 6 Oct. announcement, MoneyGram has integrated support allowing crypto wallets connected…
“# 3 reasons why Terra (LUNA) price hit a new all-time high ” Protocol upgrades are one of the biggest drivers of momentum because they show developers’ dedication to fixing bugs, incorporating user requests and adding new features that make the protocol competitive and shore up the token’s value. One project that has seen its…
“# Circle reveals cooperation in ongoing SEC investigation ” Circle, the company behind the world’s second-largest stablecoin USD Coin, has been subpoenaed by the U.S. Securities and Exchange Commission (SEC). According to an Oct. 4 regulatory filing from Circle, the SEC issued an “investigative subpoena” from its Enforcement Division in July. Circle, which is behind…
“# Bank of America offers bullish outlook for DeFi and NFTs ” The Bank of America Corporation (BoA) has published a research report offering a bullish outlook for the long-term prospects of cryptocurrency. The report, published on Oct. 4 by BoA subsidiary, BofA Securities, offers a nuanced appraisal of the digital asset sector that highlights…