Ethereum layer 2 scaling solution Arbitrum will release over $1 billion worth of ARB tokens in March next year, kicking off a four-year period of staggered unfreezing of its native digital asset, according to data source Token Unlocks. On March 16, the protocol designed to offer scalable and low-cost smart contract capabilities will “cliff unlock” … Read more
The central bank’s framework will apply to single-currency stablecoins pegged to the Singaporean dollar or any G10 currency. Issuers of such stablecoins seeking regulation in Singapore must meet certain requirements related to value stability, capital and redemption capitals. The Monetary Authority of Singapore (MAS) has unveiled its framework for regulating stablecoins following a public consultation … Read more
Cryptocurrencies were broadly lower after a sharp mid-afternoon selloff Tuesday upended what had been a mostly quiet session. Leading the CoinDesk Market Index’s (CMI) 1.3% decline were altcoins such as Ripple’s (XRP), Dogecoin (DOGE), Polkadot’s (DOT), Polygon’s (MATIC) and Uniswap’s (UNI), each sporting losses of more than 4% over the past 24 hours. Outperforming were … Read more
Crypto miners are establishing a new voice in U.S. policy, starting up the Digital Energy Council to lobby for friendly policy as regulators and Congress are wrestling with the next steps in crypto regulation. The member group will be advocating for policies “that promote responsible and sustainable energy development, grid resilience, maintain United States competitiveness, … Read more
Crypto exchange Binance to shut down its buy-and-sell service Binance Connect, formerly known as Bifinity, just one year after its launch, the company said in a statement. The service will be disabled on Aug. 16 as the crypto exchange wants to refocus on its main products and long-term goals, according to Binance. “We periodically review … Read more
Republicans on the U.S. congressional committee that oversees the Securities and Exchange Commission (SEC) are demanding agency Chair Gary Gensler explain how Prometheum Inc. won its unique approval as a broker-dealer for crypto. The 23 House Financial Services Committee lawmakers who signed the letter, led by Chair Patrick McHenry (R-N.C.), questioned how the previously unknown … Read more
The U.S. Federal Deposit Insurance Corp. added crypto as one of five broad categories this year in its annual risk report, a snapshot of the dangers the banking regulator considers a top priority at the moment. The 2023 Risk Review, which mostly looked back at crypto’s turbulent 2022, says the agency is prepared to engage … Read more
The first half earnings season saw an inflection in companies discussing artificial intelligence (AI), with around 15% of firms quantifying a revenue or cost-benefit from using machine learning across a broad spectrum of applications, Morgan Stanley (MS) said in a research report Monday. The bank notes that 316 qualifying companies mentioned AI, with 106 explicitly … Read more
Dinari, which aims to provide access to real-world asset backed tokens, has announced a $7.5 million seed investment ahead of the ex-U.S. launch of its dShare Platform. Investors included SPEILLLP, a member of the Susquehanna International Group of companies, 500 Global and Balaji Srinivasan, the former chief technology officer of Coinbase. Other backers in the … Read more
Crypto asset management product De.Fi released its antivirus tool on the zkSync Era blockchain, a company representative told CoinDesk. The antivirus tool protects users against common malicious crypto exploits, such as phishing, smart contract vulnerabilities, blind signing, and more. Crypto traders lost over $300 million due to hacks and exploits in the past month alone, … Read more