The EOS Network Foundation has described v0.6.0 as a “game-changer” on account of it offering “a rejuvenated DeFi experience, robust technical upgrades, and trustless USDT bridging”. The EOS EVM, the virtual machine that allows Solidity dapps to run on EOS, has just had its biggest upgrade yet. v0.6.0 has been deployed on mainnet, and it brings the EOS EVM closer to providing the sort of DeFi experience its developers always envisioned. There’s a lot to unpack in the release notes for v0.6.0, but trustless bridging is a flagship improvement. The…
Day: October 17, 2023
EY Announces First Corporate Client for EY Blockchain Analyzer: Reconciler
The tool will use analytical dashboards to identify transaction errors, wallet address balances and digital signatures. Ernst & Young (EY) Global has announced the first corporate client for its EY Blockchain Analyzer: Reconciler. Per the announcement, Fidelity Digital Assets, a subsidiary of Fidelity Investments, became the first enterprise to use the tool after its launch in February. EY Global Blockchain Leader Paul Brody believes that a robust internal risk management process and operational excellence are necessary for cryptocurrency platforms to gain a competitive edge and instill trust among investors and…
ESMA Warns National Regulators Ahead of MiCA
Though the anticipation for MiCA has gone into full throttle, ESMA has warned national regulators against allowing what it calls ‘letterbox’ entities. The European Securities and Markets Authority (ESMA) is wary of global crypto firms who might try to exploit loopholes currently present in its Markets in Crypto Assets regulation (MiCA). MiCA, whose rules are set to take effect by December 2024, would allow companies that have been registered under an existing regime to continue doing their business up until July 2026. That is even without a full MiCA license.…
Analyst Points Out Weird Bitcoin Activity On Bybit & Deribit Before Flash Surge
An analyst has pointed out how some suspicious Bitcoin buying activity took place on Bybit and Deribit in the leadup to yesterday’s flash surge. Bitcoin Taker Buy Sell Ratio Saw Extraordinary Spikes On Bybit & Deribit Yesterday In a new post on X, Julio Moreno, head of research at CryptoQuant, discussed how the BTC taker buy-sell ratio looked like for the different exchanges in the market leading up to the surprise rally yesterday. The “taker buy sell ratio” here refers to an indicator that keeps track of the ratio between…
Why Congress Will Be the Dollar’s Downfall
Congressional inaction is likely to cause de-dollarization as the country’s foes — and friends — move even faster to get off the U.S. dollar. Americans deserve to know what’s at risk so we can vote accordingly, and get the economy we deserve. Source
FTX Proposes Returning Up to 90% of Creditor Holdings in Amended Bankruptcy Plan
The team overseeing the bankruptcy process has put forward a new plan to distribute the remaining assets to affected creditors. The proposal aims to give creditors back up to 90% of their holdings at the time of FTX’s collapse. Cryptocurrency exchange FTX has introduced an amended proposal to return a substantial portion of funds to creditors impacted by the company’s bankruptcy last November. The Troubled FTX Exchange FTX, once one of the largest crypto exchanges, filed for bankruptcy protection after a liquidity crisis prompted mass customer withdrawals. This left FTX…
Country Garden Nears Debt Deadline with Looming Default Risk
Country Garden’s struggles come amidst broader turmoil within the Chinese property development sector. China’s leading private property developer Country Garden is grappling with a severe default risk on its offshore debt as it races against time to meet a critical $15 million coupon payment due on Tuesday, signifying the end of a 30-day grace period. Failure to meet this payment will trigger cross defaults, a standard within the company’s bond contracts. The company’s difficulties have intensified worries in the broader real estate industry, reflecting the struggles experienced by various other…
Bank of America Beats Expectations with Strong Q3 2023 Profit
Bank of America, once expected to be a major beneficiary of rising interest rates, has faced unexpected challenges in 2023. In a recent earnings report, Bank of America Corp (NYSE: BAC) showcased its resilience and financial strength, surpassing analysts’ expectations for the third quarter of the year (Q3 2023). Exceeding Earnings Expectations The North Carolina-based banking giant reported robust earnings per share and impressive revenue figures, further cementing its reputation as one of the leading financial institutions in the United States. One of the standout achievements for Bank of America…
What’s Holding Crypto Back? It’s the Founders, Not Just Regulators
What’s Holding Crypto Back? It’s the Founders, Not Just Regulators Source
Binance.US asks users to convert USD into stablecoins for withdrawals
Cryptocurrency exchange Binance.US has updated its terms of service, hinting that direct withdrawals in United States dollars are no longer supported on the platform. Binance.US updated its terms of service on Oct. 16, modifying the section about the “BAM Fiat Wallet,” referring to Binance.US services related to U.S. dollar custody. In the updated terms, Binance.US wrote that users “may convert” their U.S. dollar holdings to stablecoins or other digital assets to withdraw the funds from their accounts. Some cryptocurrency enthusiasts took to X (formerly Twitter) to confirm the terms of…