Day: April 11, 2023

Uniswap funds DAO incentive improvement project

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Financial modeling platform Gauntlet has been awarded a grant from Uniswap Foundation to improve DAO incentive mechanisms, according to an announcement from Gauntlet. Very excited to announce our engagement with @gauntletnetwork and their new Applied Research Group! Gauntlet will be focused on designing and specifying incentive programs to benefit the Uniswap Protocol. https://t.co/RjzV02hFhf — Uniswap Foundation (@UniswapFND) April 11, 2023 Gauntlet describes itself as a “crypto-native financial risk management solutions provider.” It uses economic models to optimize fees and rewards for decentralized finance (DeFi) protocols, according to the announcement. The…

Wyoming defends crypto-friendly bank charter regime in Custodia Bank’s lawsuit with Fed

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The U.S. state of Wyoming has requested to intervene in the case between Custodia Bank and the Federal Reserve System, seeking to defend its framework allowing certain crypto firms to qualify as state-chartered banks. In an April 10 court filing, Wyoming Attorney General Bridget Hill filed a motion to “intervene in the defense” of the state’s regulation of Special Purpose Depository Institutions, or SPDIs. Custodia — called Avanti at the time — was the first financial institution to be approved for a bank charter under the SPDI framework in October…

CoFund tokenizes $10M hotel in Bali via Tokeny

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On Apr. 11, tokenization infrastructure provider Tokeny announced a new partnership with Ethereum real-estate tokenization marketplace CoFund. The deal would enable CoFund to issue regulatory-compliant ERC-3643 security tokens on the Polygon (MATIC) network to tokenize a $10 million hotel in the Indonesian island resort of Bali.  According to Tokeny, investors can own a piece of the hotel starting with a minimum investment of $1,000. Luc Falempin, CEO of Tokeny, commented: “Simple ERC20 tokens and NFTs don’t meet compliance needs. Our technology platform leverages the ERC-3643 token standard to ensure our…

Cleanspark Purchases 45,000 Bitcoin Mining Devices, Adding 6.3 EH/s to Current Fleet – Mining Bitcoin News

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On Tuesday, the bitcoin mining company Cleanspark announced that it had purchased 45,000 Antminer S19 XP bitcoin mining devices for a total price of $144.9 million. Cleanspark stated that the new fleet would add 6.3 exahash per second (EH/s) of computational power to the company’s current 6.7 EH/s. Cleanspark Acquires 45,000 Bitmain Antminers for $144.9 Million This year, bitcoin mining firms are once again making large purchases of application-specific integrated circuit (ASIC) bitcoin mining rigs after taking a brief break in 2022. On Tuesday, April 11, 2023, the bitcoin mining…

El Salvador Grants First Digital Asset License to Bitfinex

“We are delighted to be the first company to be awarded this license,” Paolo Ardoino, chief technology officer at Bitfinex, said in the statement. “It will enable Bitfinex Securities to facilitate the issuance and secondary trading of assets with clearly defined rights and obligations as outlined in the new digital asset regulatory regime.” Source

Bitcoin continues to shine with 98% of inflows into crypto investment products

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On April 11, European cryptocurrency investment firm CoinShares published its latest “Digital Asset Fund Flows Report,” revealing that digital asset investment products experienced positive sentiment with inflows totaling $57 million last week, bringing inflows back to a net positive position year-to-date. However, despite this, “volumes were low at $970 million for the week,” and the global Bitcoin (BTC) exchange market also saw low volumes, which “were just 25% of the year-to-date average at $18 billion for the week.” According to the report, inflows were primarily driven by investors in the…

French central bank looks at certification, incorporation as part of DeFi regulation

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The Banque de France has contributed to the discussion of European crypto asset regulation with a close examination of decentralized finance (DeFi) and potential approaches to its regulation. This discussion is timely because of the growing use of tokenization in finance and the introduction of blockchain technology in many economic sectors, the authors said.   The paper, written by members of the Fintech-Innovation Hub at the French central bank’s Autorité de contrôle prudentiel et de résolution, noted that the term DeFi hides a range of crypto asset services, technologies and…