Author: Coindesk
“Should a mismatch occur between a stablecoin issuer’s liabilities (the coins in circulation) and the assets backing that stablecoin, this could undermine confidence in the ability of the issuer to offer redemption at par and prompt a ‘run,’ ie a sudden loss of belief in the stablecoin’s value,” the report said. Read the full article here
The token is launching in partnership with Floki, BNB Chain, and crypto investment DWF Labs. TokenFi, started in 2023 as a sister project to Floki, is a real-world assets platform helping traditional internet brands tokenize into Web3 projects. It also lets users launch any cryptocurrency without writing code. Read the full article here
“We’ve been quite vocal with our concerns about ASIC potentially just continuing to make enforcements”, during the “four or five roundtables” in recent weeks, O’Loghlen said, even though he complimented a new ASIC team for “very much reaching out to all industry players” … “proactively” having “a coffee conversation with 50 or so groups.” Read the full article here
“What we’re enabling is for people using public blockchain infrastructure to interact with highly regulated, traditional, fiat-backed institutions in a way that is seamless,” said Evertas CEO J. Gdanski in an interview. “Whether it’s to pay in USDC or native crypto, or to place policies completely on-chain with the blockchain helping coordinate between a broker, the insured, and the insurers, we think this is a seminal piece of infrastructure.” Read the full article here
The blockchain halted at block height 11430400 for an emergency patch to fix the vulnerability. The fix was completed at 04:19 UTC. Validators, the entities that support the network, with over 67% of the voting power on Terra upgraded their nodes to prevent the exploit from recurring, according to a post on the X. Read the full article here
Bitcoin held steady near $66,000, nursing a weekly loss of 2% on expectations for renewed rate cuts from the U.S. Federal Reserve. That spurred demand for the “anti-risk” yen, sending the USD/JPY rate down to nearly 150, the strongest for yen since March, according to data source TradingView. Futures tied to the S&P 500 rose 0.4%, signaling a positive open on Wednesday. Read the full article here
Bitcoin has inched toward $66,000, paring all gains from last week, with sentiment dented as a significant amount of the asset was moved from U.S. government-linked wallets, raising concerns of looming selling pressure among traders. BTC lost as much as 5%, before slightly recovering, in the past 24 hours as the U.S. Marshals Service shifted $2 billion worth of BTC to two new wallets. Tracking service Arkham estimated that at least one of the wallets was likely to be a custodial service. Bitcoin was trading around $66,550 at the time of writing, a drop of 4.3% from 24 hours ago.…
“Lower than typical credit card fees, which can be as high as 3.75%, restaurants on the Blackbird Pay network pay a flat fee of 2% per transaction, saving them money on every transaction,” Blackbird Labs explained in a statement shared with CoinDesk. “At the same time, Blackbird Pay enhances diners’ end of meal experience by enabling them to skip the dreaded ‘Let’s get the check’ moment and enjoy the magic of paying their check in-app at any point; so, they can leave whenever they’re ready, just like having an old-school house account.” Read the full article here
According to an interview with Al-Naji in 2021, investors in the project included Sequoia, Andreessen Horowitz, Social Capital, TQ Ventures, Coinbase Ventures, Winklevoss Capital, Arrington Capital, Polychain, Pantera, Digital Currency Group, Huobi, Variant and more. Read the full article here
Longer term, though, it appears that at least a modest series of rate cuts across all major central banks except the BOJ are the new norm. In addition to developments at the Fed and BOE, the European Central Bank trimmed its policy rate earlier this summer and the Bank of Canada has cut twice in the past few months. Read the full article here