Latest
DeFi
June 8 Ropsten Merge Indicates Ethereum’s PoS Transition Is On Track for Q3: Joe Lubin
ConsenSys founder Joe Lubin emphasizes Eth2 scalability ahead of the first chain-merge on a public testnet planned for June 8.
DeFi
Tether Has Reduced Commercial Paper Backing USDT by 20% Since April
The world’s largest US dollar stablecoin, Tether (USDT), today announced its first attestation report in six months. The report disclosed that Tether had decreased its commercial paper holdings – short-term commercial debt – by 17% from December 2021 through March 2022, from $24.2B to $20.1B. Tether said it has decreased its commercial paper holdings by…
Blockchains
EY And Polygon Unveil ZK and Optimistic Rollup Hybrid
Accounting firm Ernst & Young and Ethereum scaling company Polygon has launched the mainnet beta of its rollup for businesses, Nightfall. Ernst & Young (EY), one of the ‘Big Four’ financial services behemoths, started work on Nightfall in 2019 to make its customers’ Ethereum transactions private. But the company was so swamped by Ethereum’s high…
DeFi
Terra Founder Faces Government Investigations, Lawsuits, and $78M Fine for Tax Evasion
South Korean authorities have formed an emergency financial crimes unit to investigate the collapse of stablecoin protocol Terra, and fined the protocol’s founder, Do Kwon, $78M for tax evasion, local media reported. The government agencies want to understand why UST, Terra’s US dollar stablecoin, lost its peg on May 9. The crash wiped $18 billion…
DeFi
Fantom’s SCREAM Falls 50% After Algorithmic Stablecoins Cause Bad Debt
Traders have taken advantage of the Fantom-based lending protocol having hard-coded fUSD and DEI at $1 despite the tokens trading below their pegs.
NFTs & Web3
Elite Fashion Brands Continue Building in the Metaverse
Trends in Fashion NFTs and the Metaverse.
Markets
Frax Founder Pins $25B Stablecoin Supply Drop on Fed Rate Hikes
The market capitalization of dollar-pegged stablecoins has dropped by $25B in the wake of Terra's collapse.
Markets
Crypto Markets Stabilize After $693B Sell-Off
Crypto markets have stabilized, ending a market free-fall that erased $693B from crypto’s market capitalization from May 5 to May 12. Crypto’s market capitalization fell from $1.81T on May 5 to lows of $1.12T on May 12. The market started to rise on Friday, and now rests at $1.28T, data from CoinMarketCap shows. The crash…
DeFi
Norway’s Central Bank Taps Ethereum Layer 2 For CBDC Trial
Norway’s central bank is embracing Ethereum’s Layer 2 for its central bank digital currency (CBDC) pilot. On May 16, Nahmii, an Ethereum L2, announced it had been tapped by Norges bank to host the sandbox for the country’s national currency, the krone. Nahmii said in a statement that it will “build, maintain, and train Norges…
