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“# Trust is key to mainstream adoption for stablecoins, says Paxos CEO ” Paxos CEO Charles Cascarilla believes that stablecoins need solid regulation to go beyond being just a tool for crypto enthusiasts and achieving mainstream adoption. Speaking to Bloomberg, Cascarilla explained that stablecoins would be unable to build trust without regulation, which is critical…
“# BIS optimistic about central bank digital currencies ” The Bank for International Settlements (BIS) has reaffirmed its support for central bank digital currencies (CBDCs). In a report titled “CBDCs: an opportunity for the monetary system,” BIS researchers argued that sovereign digital currencies offered “the unique advantages of central bank money.” According to the report,…
“# Stablecoin inflows to exchanges dip as traders watch Bitcoin from the sidelines ” The growth of stablecoin’s market cap and circulating supply has been one of the best indicators for attaining a general pulse on how participants in the market are feeling during bullish and bearish times. Monitoring the Tether (USDT) treasury for large…
“# Digital euro offers better privacy protections than private stablecoins: ECB official ” European Central Bank (ECB) executive board member, Fabio Panetta, has argued that a digital euro offers superior privacy protections than privately issued stablecoins. Panetta criticized the profit motive of private firms, emphasizing it is in their commercial interests to harvest masses of…
“# Texas crypto users will soon be able to buy and sell tokens at major supermarket chain ” Shoppers wanting to cash out their crypto holdings to buy groceries may soon be able to do so at many H-E-B supermarkets in Texas. According to a Friday report from the Houston Chronicle, crypto ATM firm Coin…
“# Mark Cuban calls for stablecoin regulation in wake of Iron Finance ‘bank run’ ” Billionaire investor and DeFi proponent Mark Cuban has called for stablecoin regulation after losing money on what he dubbed as a “rug pull” on the Iron Finance protocol. According to Iron Finance, the partially collateralized stablecoin project was the subject…
“# DAOs in court? Curve Finance ponders enforcing license over rival Saddle ” Square peg, meet round hole: a decentralized autonomous organization is pondering taking a rival fork to court. Earlier today, a member of the Curve Finance community made a post in Curve’s governance forum titled “Enforce Curve’s IP Rights.” “Curve has proven incredibly…
“# As Yearn.Finance’s yield vaults grow, ‘crop’ projects define boundaries ” With millions and even billions of dollars at stake, industrial-scale yield farming is leading to pockets of resistance as some projects refuse to be left with the chaff. In the past week, team members from no-loss lottery project PoolTogether and exchange liquidity pool provider…
“# Former PayPal employees launch decentralized cross-border payment network on Algorand ” Two former PayPal workers in business and technology have launched a cross-border payment system aimed at “faster, cheaper, and more transparent payments.” In an announcement today, fintech infrastructure firm Six Clovers said it had launched its RAPID network connecting banks, merchants, and payment…
“# ‘Bitcoin is not an asset that is designed to be leveraged’ says Caitlin Long ” All eyes are on Bitcoin (BTC), as the largest cryptocurrency shot up past $40,000 on June 14. Unsurprisingly, the price increase happened shortly after Tesla CEO Elon Musk tweeted that the electric-car company would potentially accept BTC payments once…