Quick take: Compound Finance’s Treasury has received a B- credit rating from S&P Global Ratings This makes Compound Finance the first institutional DeFi offering to be rated by such a credit agency Traditional institutions have begun to weigh the significance of DeFi services Regulatory clarity could increase Compound Finance’s ratings and see more DeFi protocols
Month: May 2022
Mark Zuckerberg said NFTs are coming to Facebook and Instagram Reports claim internal testing will kick off this week No definite timeline has been disclosed for the feature’s rollout The integration includes augmented reality on Instagram stories Engineers at Meta (Facebook) will start testing non fungible token (NFT) features for Instagram and Facebook this week
Bitcoin (BTC) set a new record low price for 2022 on May 9 as crypto markets continued selling off prior to the Wall Street open. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price sinks under $36,700 Data from Cointelegraph Markets Pro and TradingView confirmed the firmly bearish achievement for BTC/USD, which hit $32,637 on Bitstamp.
Data from website traffic metric provider Similarweb shows that Deribit and OKX continue to attract significant traffic sources from China despite a blanket ban on crypto transactions and foreign exchanges last year. China has banned the use of cryptocurrencies more than a dozen times in the last decade, however, the one imposed in September last
The governor of the Bank of Central African States (Banque des États de l’Afrique Centrale, BEAC) has issued a scathing letter to the Central African Republic (CAR) regarding the country’s adoption of cryptocurrencies. In a letter addressed to the CAR Finance Minister Hervé Ndoba, the Governor of the BEAC Abbas Mahamat Tolli describes the “substantial negative
Leading NFT projects such as BAYC and MAYC are down by 41% and 30%, according to Wu Blockchain The downward trading trend of NFTs indicates that the market is entering a sluggish phase. The overall NFT market seems to be entering a cooling phase, as trading volumes of leading NFT projects notably Bored Ape Yacht
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According to a Gallop poll published on May 2, the public’s confidence in America’s current economic leaders has been deteriorating. Confidence in U.S. president Joe Biden managing the U.S. economy has dropped from 57% to 40%, and faith in Federal Reserve chair Jerome Powell has faltered from 55% to 43%. The April 2022 Gallop poll,
The United States Securities and Exchange Commission, or SEC, has announced that it has settled charges against Nvidia — the company behind graphics cards used by many crypto miners — in regards to “inadequate disclosures.” In a Friday announcement, the SEC said that Nvidia failed to disclose that mining cryptocurrencies was “a significant element of
We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and throw in a few random zingers to keep them on their toes! This week, our 6 Questions go to Ming Duan, the co-founder and chief operating officer of Umee, a cross-chain DeFi hub that allows decentralized interactions between
The S&P 500 and the Nasdaq have declined for five consecutive weeks, indicating that traders continue to reduce exposure to risky assets. Bitcoin’s (BTC) close correlation with United States equity markets has resulted in its price remaining under pressure. Bitcoin has extended its decline during the weekend and is now on track for its sixth
Quick take: The 2020 hackers of Pickle Finance have laundered 1,800 Ethereum through Tornado Cash Roughly $20 million in the stablecoin of DAI was stolen from the protocol at the time of the exploit Tornado Cash continues to be the preferred mixer for these individuals and groups of hackers The perpetrators of the 2020 exploit
Terra (LUNA) has plunged significantly after witnessing a FUD attack on its native stablecoin TerraUSD (UST). The LUNA/USD pair dropped 20% between May 7 and May 8, hitting $61, its worst level in three months, after a whale mass-dumped $285 million worth of UST. As a result of this selloff, UST briefly lost its U.S. dollar
Another whirlwind week in crypto draws to a close, and of course there’s no shortage of spicy stories and new, compelling narratives in the world of innovative digital money. This week, Elon Musk gives investment advice, United States Securities and Exchange Commission chair Gary Gensler catches flack from SEC commissioner Hester Peirce, and Joe Rogan
There’s been a tremendous amount of hype and misinformation about nonfungible tokens (NFTs) since they appeared on the scene in 2014, particularly since the total market for them passed $24 billion. You can’t open a news feed without an article about nonfungible tokens popping up. These inevitably contain the obligatory “An NFT is a” paragraph
One of the first punitive measures leveled against Russia in response to the military invasion of Ukraine was the implementation of economic sanctions aimed at isolating the country from the international financial system. On March 12, Russian banks lost access to the international payments and messaging network SWIFT, and private sector payment companies, such as
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