The bank’s blockchain product director believes DeFi will one day replace traditional banking services. Source
Russia's Sberbank Will Introduce DeFi Platform by May: Report
Month: February 2023
S&P Dow Jones to Oust Adani from Sustainability Index Following Accusations of Financial Malpractice
The S&P Dow Jones is removing Adani from its index, further adding to the Indian conglomerate’s mounting woes. Dow Jones has announced plans to remove embattled Indian multinational conglomerate Adani Enterprises from its sustainability index. According to the Dow Jones, Adani’s removal will take effect from Tuesday, February 7th. “Adani Enterprises will be removed from the Dow Jones Sustainability Indices following a Media & Stakeholder Analysis triggered by allegations of stock manipulation and accounting fraud,” reads the announcement. Although Adani is yet to issue a retort to the S&P Dow Jones development,…
South African Retailer Pick n Pay Now Accepting Payments via BTC at All Its Stores – Africa Bitcoin News
Pick n Pay, one of South Africa’s leading retailers, reportedly now accepts bitcoin as payment at all its stores across the country. Using the bitcoin lightning network, Pick n Pay’s customers can now buy items such as groceries, airtime and electricity tokens. Using BTC for Everyday Purchases Just a few months after it began accepting bitcoin payments at selected outlets, the South African retailer, Pick n Pay (PNP) now reportedly accepts bitcoin at its more than 1,500 stores across the country. According to reports, PNP customers can now buy groceries,…
Australia introduces classification for crypto assets
Following the global regulatory race, Australia opened the public consultation on its own taxonomy of crypto assets. The national regulators propose to distinguish four major types of products related to the crypto industry. On Feb. 3, the Australian Treasury released a consultation paper on “Token Mapping,” announcing it as a foundational step in the Government’s multi‑stage reform agenda to regulate the market. It seeks to inform “a fact‑based, consumer conscious and innovation-friendly” approach to policy development. The paper, based on the “functional” and technology-neutral method, proposes a number of basic…
Core Scientific to Hand Crypto Mining Rigs to NYDIG to Extinguish $38.6M in Debt
The bear market in crypto has taken a toll on the mining industry, particularly on leveraged firms, as high energy prices coupled with a low bitcoin price have led to consolidation and capitulation. Core borrowed about $77.5 million from NYDIG to buy mining equipment starting October 2020, but has essentially stopped paying off the loans since the end of the third quarter. Source
UK Bank Nationwide Has Restricted Card Payments to Binance
While the website didn’t say when the policy was instigated, a tweet dating from 2021 indicates the decision was made that July. Earlier in the same month, shortly after the U.K.’s Financial Conduct Authority (FCA) warned that Binance was not allowed to conduct any regulated activity in the country, the lender said it was assessing its policies on crypto transactions. Source
A New Approach to DeFI
PRESS RELEASE. KyotoSwap.io is the first decentralized exchange (DEX) on Binance Smart Chain that allows anybody to create a verifiable positive impact at little to no cost. As a result, decentralized finance (DeFi) users can passively contribute towards fighting climate change. The first Regenerative Finance DEX on BSC to tackle climate change The empowering movement of Regenerative Finance (ReFi) has created a thriving sub-sector within DeFi, which continues to snowball in popularity despite the recent crypto winter. In essence, Regenerative Finance incorporates an action that positively impacts circular or modular…
Core Scientific to hand over 27K rigs to pay $38M debt
Crypto mining firm Core Scientific made a deal with the New York Digital Investment Group (NYDIG) to pay off an outstanding debt of $38.6 million by handing over more than 27,000 mining machines used as collateral. In a court filing, the company said the mining rigs were no longer essential to its operations and plans. The firm is now waiting to get the approval of the United States Bankruptcy Court for the Southern District of Texas, which is in charge of the proceedings. While the company accepted that the move would…
Binance Tells Indian Crypto Exchange WazirX to Withdraw Customer Assets Held in Its Wallets
“As an exception, we have invited Zanmai to work out arrangements with us to withdraw any remaining assets in the relevant accounts after 3 February. However, the responsibility ultimately lies with the Zanmai team to make the withdrawals expeditiously,” Binance said. Source
Addressable Raises $7.5 Million to Help Web3 Marketers Reach Their Audiences – News Bitcoin News
Addressable, a decentralized marketing startup, has raised $7.5 million in its seed round to tackle the current marketing woes in the Web3 area. The company claims its software can pair the onchain addresses of users with their social accounts, giving Web3 marketers more knowledge about their audiences to make efficient advertising campaigns in the crypto sector. Addressable Raises $7.5 Million in Seed Round Marketing agencies have had a difficult time advertising Web3 products to their audiences due to the lack of insight they have into these services. Addressable, a software…