The development of a dedicated lending protocol represents a shift in focus from MakerDAO, which has aligned its revenue model with the issuance of DAI since the latter’s inception in 2017. MakerDAO has formed Phoenix Labs, a research and development company that will be tasked with building the Spark Protocol. Source
Tether’s assets as of Dec. 31 stood at $67 billion, with liabilities of $66 billion, almost all of which relates to digital tokens issued. Source
However, Umami temporarily stopped all payouts to token holders in early February, citing regulatory considerations, messages in Umami’s Discord channel show. This caused some discourse among community members, who said the product seem to do the opposite of what it earlier told potential token investors. Source
It could be argued that the utility of these liquid staking protocols would be reduced as the upgrade date approaches, the note said. The counterargument is that the utility of these protocols is not limited to only providing liquidity, but also acting as an intermediary for retail investors who would otherwise face a barrier of 32 ETH ($52,000) for staking, the note said. Source link
Whilst some of those against Ordinals cite the possibility of a rise of transaction fees as a reason to oppose them, CryptoQuant notes that an uptick in demand for block space, coupled with a rise in fees generated by miners, is positive for long-term network security for Bitcoin. Source
Bitcoin (BTC), Ether (ETH) and even nascent altcoins are a solid “buy,” a previously risk-off investor says. In a blog post released Feb. 8, industry stalwart Arthur Hayes announced a U-turn on his current crypto investment plans. Hayes changes tune on “risky assets” Current macroeconomic conditions stemming from the United States Federal Reserve previously made Arthur Hayes keen to avoid what he calls “risky assets.” As inflation slows and the Fed’s rate hikes with them, multiple new storms are brewing in the U.S., and the Fed, as well as Congress…
The crypto mining industry has faced moratoriums in some parts of the United States and Canada in recent months. Now, Russia provides tax incentives for those who want to invest in crypto mining. With the government’s direct support, the new $12 million crypto mining center will open in east Siberia. According to local media, the state-owned Corporation for the Development of the Far East announced the launch of the crypto mining center in Buryatia — a republic in east Siberia and part of the Russian Federation. The facility will possess…
The cryptocurrency miner Argo continues to undergo a series of company changes in light of its major acquisition and newly filed lawsuit. Peter Wall, the CEO of Argo Blockchain, announced his resignation from his executive position on Feb. 9. According to the announcement, Wall will remain an adviser to Argo throughout the next three months to support the transition out of the position. He also commented that he was “pleased” to have spearheaded the recent Galaxy Digital acquisition deal. In the same announcement, the company also revealed the resignation of Argo…
Plans to transform the bankrupt crypto lender into a “recovery corporation” are not a done deal, and the estate could still be liquidated, legal filings warn. Source
Russian authorities have reportedly arrested the second co-founder of seized cryptocurrency exchange Bitzlato. The man, who recently promised to restore the platform’s operations from Russia, was detained at the request of Interpol and may face extradition to France. Another Co-Founder of the Russia-Linked Bitzlato Exchange Apprehended in Moscow Anton Shkurenko, co-founder of the recently busted digital asset exchange Bitzlato, has been arrested in Moscow, the Russian Telegram channel Baza reported. According to a post published on Tuesday, the crypto entrepreneur was wanted by French investigators who suspect him of extortion,…