Kwon’s Montenegrin defense attorney Goran Radić did not respond to CoinDesk’s requests for comment by press time, but told Vijesti, a Montenegrin newspaper, that the continuous delays and seven court decisions in Kwon’s case represent a “judicial disgrace.” Radic also told Vijesti that Milović had made an “illegal private promise” to extradite Kwon to the U.S. instead of South Korea, which issued its extradition request first. Source
Mountain Protocol’s USDM, for example, backs its price by holding U.S. Treasuries, but passes on the bond yields to token holders unlike stablecoin giant Tether’s USDT. Maker’s stablecoin shares protocol revenues from its real-world asset (RWA) backing and DeFi lending activity for savings DAI (sDAI) holders. Meanwhile, Ethena’s “synthetic dollar” USDe harvests the funding rates with a carry trade, and shares the revenue with those who lock up (stake) the token on the protocol. Source
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The feature was introduced in testnet in March, and allows users with a NEAR account to sign transactions on blockchains it supports, without the need for cross-chain bridges. Source
“The starting point here is we’re developing the protocol, building out the primitives, enabling this to be built,” explained Vega founder Barney Mannerings. “The people building on Vega and launching markets can kind of launch their own products with their own [user experience (UX)], and even bring in sports, news or whatever.” Source
Since then, several other firms have made a push into tokenization of real world assets (RWAs) by bringing their funds onto blockchain rails. The biggest ones include BlackRock, the world’s largest asset manager, and crypto-native startups Securitize and Ondo Finance, all of which have launched tokenized funds in recent years. Source
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as…
The latest price moves in bitcoin (BTC) and crypto markets in context for Aug. 8, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets. Source
Crypto bridges, which are ways of transferring assets from one blockchain to another, have become a key attack vector for hackers over the years due to the use of novel technology. The Ronin bridge suffered a $625 million exploit in the same month as Nomad. Source
The boss of Japan’s Financial Services Agency (FSA) has said “cautious consideration” needs to be given to the decision of approving crypto-related exchange-traded funds. Source