Author: Roland Guirdonan

Article written by Roland Guirdonan

Brazil’s Central Bank is integrating DeFi elements into its Drex CBDC project

October 5, 2024 1 min read

Brazil’s Central Bank is making significant strides in its Drex central bank digital currency (CBDC) project by incorporating decentralized finance (DeFi) elements. Currently in its second pilot phase, the initiative aims to boost financial inclusion and enhance transaction efficiency in Brazil’s digital economy. The pilot will test various applications, including the tokenization of real estate and the establishment of liquidity pools for public securities trading, utilizing smart contracts and decentralized

BlackRock’s IBIT and Fidelity’s FBTC are the top-performing Bitcoin ETFs of the decade

October 4, 2024 1 min read

BlackRock’s IBIT and Fidelity’s FBTC are emerging as leading Bitcoin ETFs, each surpassing $10 billion in assets under management despite recent market volatility. IBIT has shown remarkable growth, achieving $1 billion in trading volume shortly after receiving SEC approval for options trading, which is expected to attract institutional investors. In contrast, FBTC has faced challenges, including significant outflows, indicating investor uncertainty. Bloomberg’s Senior ETF Analyst Eric Balchunas noted that IBIT

A former Chinese finance official urges the government to rethink its strict crypto ban

October 3, 2024 1 min read

In a recent forum in Beijing, former senior finance official Zhu Guangyao urged China to reconsider its stringent ban on cryptocurrencies, highlighting their potential role in bolstering the nation’s digital economy. His remarks come at a time when the U.S. is adopting a more crypto-friendly approach, igniting discussions within China about the implications of its current policies. Since its initial crackdown on crypto in 2017, which included banning initial coin

Bitcoin miners are struggling as profits hit a record low due to recent halving

October 2, 2024 1 min read

Bitcoin mining companies are facing significant challenges as profitability reaches an all-time low, according to a report by JPMorgan Chase. In September, miners experienced a 6% drop in daily block reward gross profit, marking three months of declining revenue, despite a slight rise in Bitcoin prices. The primary cause of this downturn is the recent Bitcoin Halving, which occurred in April and reduced miners’ rewards by 50%, potentially leading to

Taiwan’s financial regulator approves foreign crypto ETFs for professional investors

October 2, 2024 1 min read

Taiwan’s Financial Supervisory Commission (FSC) has taken a bold step by approving foreign crypto exchange-traded funds (ETFs) for professional investors, a move announced on September 30, 2024. This decision allows institutional investors, including high-net-worth individuals and specific investment firms, to access these ETFs through a regulated re-entrustment process, which involves delegating investment management to third parties for enhanced oversight. The FSC’s approval comes after thorough discussions with the Securities Business

Crypto investment inflows hit $1.2 billion in a week

October 2, 2024 1 min read

In a recent report by CoinShares, global crypto investment products experienced a significant boost, with net inflows reaching $1.2 billion over the past week, marking the third consecutive week of positive growth. This surge is attributed to increasing investor confidence in digital assets, fueled by expectations of lenient U.S. monetary policies and favorable price trends. Bitcoin was the standout performer, drawing in $1.1 billion, largely due to the approval of

US platforms are regaining Bitcoin dominance

September 29, 2024 2 mins read

In a notable turn of events, the landscape of Bitcoin holdings is witnessing a resurgence of US-based platforms, signaling a potential shift in the dynamics of the crypto market. Recent on-chain data reveals that American exchanges and funds are increasingly accumulating Bitcoin, a trend that could significantly influence the cryptocurrency’s price trajectory. This movement is tracked through the “US to The Rest Reserve Ratio,” which gauges the proportion of Bitcoin

SEC announces it settled with Mango Markets over sale of unregistered tokens in $70 million coin offering

September 28, 2024 1 min read

On September 27, 2023, the US Securities and Exchange Commission (SEC) made headlines by charging Mango DAO and the Blockworks Foundation for their involvement in the sale of unregistered crypto assets. The focus of the SEC’s complaint was on MNGO, the governance token associated with Mango Markets, which the SEC claims was sold without proper registration, thereby violating US securities laws. The SEC’s legal action, filed in the Southern District

FTX crypto exchange prepares to distribute $16 billion to creditors

September 24, 2024 1 min read

As the year concludes, the allocation of funds from FTX, the defunct crypto exchange, is approaching finalization. Reports indicate that $16 billion has been allocated for FTX creditors, with users suggesting that the process is approaching finalization. A customer, who had liquidated the majority of their funds before FTX’s insolvency, indicated that they are poised to get a modest amount and intend to reinvest in Bitcoin, characterizing the dividend as

Tether’s USDT stablecoin is approaching a $120 billion market cap

September 23, 2024 1 min read

Tether’s USDT stablecoin is nearing $120 billion, reinforcing its status as the leading stablecoin in the cryptocurrency market. The company has issued $35 billion in USDT over the past year, exceeding its primary competitor, Circle’s USDC. As of Q2 2024, Tether possesses in excess of $97 billion in US Treasuries, ranking as the 18th largest holder of US government bonds worldwide. Stablecoins such as USDT are utilitarian for daily transactions

Circle submitted an IPO application to the US SEC

September 22, 2024 1 min read

Circle, a stablecoin issuer, intends to move its headquarters to Wall Street in 2025 and is preparing for a first public offering (IPO). Notwithstanding these endeavors, Circle remains subordinate to Tether, the industry leader, which commands a 70% share. Tether has designated Jesse Spiro, the former director of regulatory relations for blockchain and cryptocurrency at PayPal, as the head of government affairs. The USDC stablecoin, linked to the US dollar,

Germany shuts down 47 crypto exchanges for their role in facilitating criminal activities

September 22, 2024 1 min read

German authorities have closed 47 crypto exchanges for their involvement in assisting criminal acts, as stated in a joint announcement from the Central Office for Combating Internet Crime (ZIT) and the Federal Criminal Police Office (BKA). The exchanges were suspended following authorities’ determination of their involvement in money laundering activities. The authorities assert that the platforms facilitated anonymous crypto and other digital asset exchanges, obscuring the origins of criminal cash.