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“# Reserve Rights (RSR) gains 300% as stablecoins gain regulatory approval ” Non-fungible tokens and high-yielding decentralized finance platforms have been the focus of attention in the cryptocurrency sector for the past few months. This intense focus on NFTs, DeFi and Bitcoin’s price action means that some investors have glossed over the fact that it…
“# Furucombo to issue iouCOMBO tokens to repay victims of $15M exploit ” Decentralized finance transaction combination tool Furucombo will compensate the victims of a recent “evil contract” exploit that cost the protocol $15 million in stolen funds. Following an internal call with affected users last week, Furucombo released a compensation plan Tuesday, announcing that…
“# Many pieces of the Diem puzzle still missing as launch gets delayed ” Back in June 2019, social media giant Facebook released the details for a much-talked-about digital currency platform dubbed “Libra.” These days, Libra is known as Diem, with the project undergoing a significant rebranding in a bid to smoothen regulatory wrinkles. A…
“# Canadian bank plans to launch dollar-backed digital currency ‘in the coming months’ ” In an announcement on Wednesday, VersaBank said it plans to launch a digital currency called VCAD, which will reportedly be backed by Canadian dollars deposited with the bank. The Canadian bank claimed that VCAD would effectively be “the first digital currency…
“# DeFi exchange protocol DFX raises $5M in seed funding led by Polychain Capital ” Veteran cryptocurrency investor Polychain Capital has joined a funding round in DFX Finance, a new decentralized finance exchange protocol optimized for non-U.S. dollar stablecoins. DFX raised more than $5 million in seed funding from Polychain and True Ventures to create…
“# ECB wants final say on the legal status of private stablecoins in the EU ” The European Central Bank has finally sent its formal opinion on crypto regulations to the European Commission. According to Reuters, the ECB has asked EU lawmakers for veto powers concerning private stablecoin projects like the Facebook-backed Diem. An excerpt from…
“# Stablecoin RAI launches, a pure, decentralized alternative for DeFi ” New Ethereum-backed stablecoin RAI hopes to be the savior of the DeFi sector by providing a truly decentralized stablecoin alternative. Developed by blockchain startup Reflexer Labs, RAI is not pegged to any fiat currency and its monetary policy is managed by an on-chain, autonomous…
“# Venus (XVS) rallies 900%, TVL hits $3.54B after Binance Smart Chain launch ” As decentralized finance continues to increase it hold on the wider cryptocurrency market, Binance Smart Chain (BSC) is beginning to emerge as a suitable option for traders looking to escape from high transaction fees on the Ethereum (ETH) network. With more…
“# Diem gets closer to launch as Fireblocks and First introduce new payment infrastructure ” The Diem Association is progressing towards launch with a new technical upgrade that reportedly allows more financial institutions to connect with the payment network. Crypto security specialist Fireblocks and First Digital Asset Group, a Diem payment provider, announced Tuesday that…
“# Battle of the whales as $50K Bitcoin hinges on ‘Coinbase premium’ ” Bitcoin (BTC) has already hit $50,000 on some exchanges but needs to get whales on its side to flip it to definitive support, data suggests. In a tweet on Feb. 16, Ki Young Ju, CEO of on-chain analytics service CryptoQuant, highlighted the…