Truefi, an uncollateralized loan platform, has raised $12.5 million from three important investors. The token sale was led by Blocktower, a New York-based cryptocurrency investment firm. Other important investors were Alameda Research — owned by Sam Bankman-Fried, founder of FTX — and A16z. Truefi is one of the few uncollateralized defi-based lending protocols in the …
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Genesis Report Highlights ‘Emerging Role’ of Ethereum and Defi in Q2 2021
Genesis Digital, a leading cryptocurrency trading, lending, and custody desk, released its Q2 reports, where it confirms what it calls the “emerging role” that Ethereum and defi have in the industry. The report also confirms that institutional interest in crypto is still rising despite the crash in prices the market experienced in Q2 2021. Genesis …
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The importance of yielding randomness on blockchains
In the physical world, it’s easy to achieve randomness because nature by itself is so random. But in the digital world, things are a little different and usually require some form of human-induced randomness to produce the desired result. The Random Number Generator (RNG) is such a piece of software or hardware that is used …
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Central Bank of Venezuela Announces ‘Digital Bolivar’ Redenomination Plan
The Central Bank of Venezuela announced the new redenomination plan for its fiat currency called “Digital Bolivar.” This new proposal seeks to simplify transactions by slashing six zeroes from the current value of the currency. While it is called digital, it has nothing to do with the proposal of a new central bank digital currency …
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Hip-Hop Star Megan Thee Stallion Creates ‘Bitcoin for Hotties’ Video to Educate Millions of Fans About Crypto
Award-winning hip-hop artist Megan Thee Stallion has published a video of herself explaining the basics of bitcoin, including what it is, why it is valuable, and how to obtain it. The famed rapper previously gave away $1 million in bitcoin to her fans in collaboration with Square’s Cash App. Famous Hip-Hop Star Breaks Down Bitcoin …
Binance US CEO Steps Down as the Crypto Exchange Faces Rising Regulatory Scrutiny
Former acting Comptroller of the Currency Brian Brooks has resigned as the CEO of Binance U.S. after just over three months. He cited “differences over strategic direction.” Meanwhile, Binance is facing regulatory scrutiny worldwide, including in the U.K., Malaysia, Japan, Cayman Islands, Hong Kong, Thailand, Germany, and Lithuania. CEO of Binance US Resigns The CEO …
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Alleged Tether (USDT) ‘shadow banker’ set for 2022 trial
Reggie Fowler, a former NFL team owner and the suspected “shadow banker” involved in the Tether and Bitfinex saga, will finally have his day in court as his trial is scheduled for early 2022. According to newly released information, Fowler is accused of laundering money for Colombian drug cartels, alongside providing unlicensed financial services to …
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Ripple (XRP) to soon see DeFi, smart contracts, and federated sidechains
Ripple confirms that federated sidechains are coming. The implementation will vastly increase the use cases of the XRP Ledger, including adding DeFi, NFT, and smart contract capabilities. “You asked, we listened. We’ve introduced Federated Sidechains to the #XRPLedger so that you can enjoy the power of the #XRPL on a sidechain that acts as its …
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Binance Restricts Crypto Derivatives Products in Hong Kong, Existing Positions Have 90 Days to Close
Fresh off the heels of Binance’s last announcement to discontinue crypto derivatives offerings in Germany, Italy, and the Netherlands, the company revealed on Friday crypto derivatives products in Hong Kong will cease as well. Effective immediately, users won’t be able to open new derivatives positions and customers with existing derivatives positions have 90 days to …
Ethereum’s Vitalik Buterin Says EIP 1559 ‘Most Important Part of London,’ Network Is Burning $16K in ETH per Minute
The Ethereum blockchain has completed the highly anticipated London upgrade on Thursday and ether fans have been discussing the protocol’s burn rate with great fervor following the fork. 5.9 Ether Is Burned Every Minute, Vitalik Buterin ‘Confident’ About the future after London At press time, Ethereum is burning 5.9 ether per minute or $16.8K using …
Oscar Mayer Is Auctioning a 10-Pack of Dogecoin-Themed Hot Dogs, Proceeds Go to Hunger-Relief Charity
After a great number of well known product brands like Burger King, Axe, Snickers, Milky Way, and Slim Jim have been riding the dogecoin hype, the American meat and cold cut manufacturer Oscar Mayer has also jumped on the dogecoin bandwagon. Similar to Axe, Oscar Mayer has also created a dogecoin-centric product and is auctioning …
Fed’s Vice Chair Says Tapering May Happen in 2021, Senator Joe Manchin ‘Alarmed Over Record Amount of Stimulus Injections’
The U.S. central bank’s vice chairman Richard Clarida explained on Wednesday that the Federal Reserve could begin tapering large asset purchases this year. Also, that the first interest rate hike since the onset of Covid-19 could happen in 2023. Meanwhile, despite members of the Fed saying inflation will be transitory, corporate bosses from some of …
JPMorgan Quietly Offers 6 Crypto Investments Despite CEO Jamie Dimon’s Anti-Bitcoin Stance
Global investment bank JPMorgan is now offering six cryptocurrency investment funds to clients despite its CEO, Jamie Dimon, continually advising against investing in bitcoin and other cryptocurrencies. JPMorgan Chase has quietly begun giving its wealth management clients access to six cryptocurrency investment funds, CNBC reported Thursday, citing people with knowledge of the move. On Thursday, …
EQIFI Launches Suite of Decentralized Financial Products Powered by a Global, Licensed Bank
press release PRESS RELEASE. British Virgin Islands — 6th August, 2021 — EQIFI, a decentralized protocol for pooled lending, borrowing and investing Ethereum-based cryptocurrencies, stablecoins, and select fiat currencies, has today launched its DeFi platform, including newly introduced fixed- and variable-rate ledning products, as well as the advanced yield aggregator and interest rate swaps. Brad …
White House Backs Crypto Tax Amendment Endorsing Proof-of-Work in Infrastructure Bill
The White House has endorsed an amendment to the $1 trillion Infrastructure bill that supports proof-of-work over all other consensus mechanisms. However, the crypto community is supporting a different amendment. White House Takes Stance on Infrastructure Bill’s Crypto Tax Amendment The White House has endorsed an amendment to the Infrastructure bill sponsored by Senators Mark …