Yearn.finance team proposes $225 million YFI token mint

After a week of at times rancorous debate, an 11-author team of Yearn.finance core contributors and community members have submitted today a proposal to increase the supply of YFI by 6666 tokens — a quantity worth roughly $225 million at today’s prices. The proposal is the culmination of a wider discussion about developer incentives for decentralized finance’s (DeFi) original yield vault project. While the Twitter discourse revolved around memes and namecalling, on Yearn’s governance forum debate of the pros and cons of a mint were far more sophisticated. Community members…

Biden team announces pick to lead SEC

President-elect Biden’s team recently unveiled additional folks it plans on nominating for various positions after the inauguration on Wednesday.  One key pick is Gary Gensler as Chairman of the Securities and Exchange Commission, or SEC, according to a statement from Biden’s transition team on Monday. On Jan. 12, Reuters reported on anonymous sourcing forecasting Gensler as Biden’s choice. Today’s statement from the Biden team confirms the President-elect’s expected choice. “Gary Gensler served as chairman of the U.S. Commodity Futures Trading Commission from 2009 to 2014,” the statement said. Coming immediately…

Compute North, Foundry Team Up to Target North American Bitcoin Miners

Two cryptocurrency mining companies want to make it easier for businesses in North America to mine bitcoin. Minnesota-based Compute North has allocated hosting facilities and 47 megawatts (MW) of power for 14,000 Whatsminer M30S mining machines supplied by New York-based Foundry Digital as part of an agreement to provide a “turnkey” hosted mining solution. (Foundry is a subsidiary of CoinDesk parent company Digital Currency Group.) Foundry has hosted mining devices with Compute North for over a year, according to Foundry CEO Mike Colyer. This latest batch of miners sent to…

Cointelegraph art team limited edition NFT drop

When you ask someone what superpower they’d most like to have, they usually come up with the ability to fly, or to read thoughts, or maybe to see through multiple layers of clothing. This year, all we wanted was the ability to hibernate. Imagine! Going to sleep sometime around the Australian wildfires… taking a peek outside in mid-March and thinking “Ooooh, no, not sure about this at all” and cuddling up in a warm, happy bed until the U.S. election was over. But think what you would have missed in…

Everledger and Glasgow Uni team up to fight counterfeit Scotch Whisky

The University of Glasgow’s Scottish Universities Environment Research Centre, or SUERC, is joining forces with supply chain company Everledger to tackle counterfeiting within the whisky industry, according to a Dec. 18 post. The market for collectable single malt Scotch whiskies reached over £57 million ($77 million) in 2018. However, SUERC researchers estimate that up to 40% of bottles currently in circulation could be fake. Using radiocarbon dating, and unprecedented access to rare whisky samples, SUERC has developed a method to determine the age of all types of vintage whiskies, accurate…

The CFTC’s tech team is trying to figure out what to do about DeFi

The Commodity Futures Trading Commission is trying to make heads or tails of the recent explosion in decentralized finance. On Monday, the CFTC’s Technology Advisory Committee hosted a presentation called “The Growth and Regulatory Challenges of Decentralized Finance” by law professor Aaron Wright and attorney Gary DeWaal. In large part, the presentation was a briefing on the operations of decentralized platforms like Uni, which have commanded a greater share of crypto trading and headlines since this summer. Wright summarized the advantages of DeFi as potentially providing services for lower cost…

Biden team will boost crypto's role in US infrastructure, says Circle CEO Allaire

One of the leaders in U.S. crypto is optimistic that the space will grow under the administration of Joe Biden governing from the middle.  Jeremy Allaire, CEO of Circle, took to CNBC's Squawk Box on Monday to argue that the Biden administration will push crypto forward as part of a broad effort to update infrastructure: "I think that they will ultimately be supportive because this is an infrastructure change as big as the initial commercial internet, and they're going to be focused on infrastructure changes that make America more competitive."…

Biden team will boost crypto's role in US infrastructure, says Circle CEO Allaire

One of the leaders in U.S. crypto is optimistic that the space will grow under the administration of Joe Biden governing from the middle.  Jeremy Allaire, CEO of Circle, took to CNBC's Squawk Box on Monday to argue that the Biden administration will push crypto forward as part of a broad effort to update infrastructure: "I think that they will ultimately be supportive because this is an infrastructure change as big as the initial commercial internet, and they're going to be focused on infrastructure changes that make America more competitive."…

Biden taps crypto-savvy former CFTC chair for transition team

Less than four days after his official acceptance speech, Joe Biden has already begun assembling a team including the former chairman of the Commodity Futures Trading Commission as part of his transition to the 46th President of the United States. According to a Nov. 10 announcement from the ‘Biden-Harris Transition’, Gary Gensler has volunteered to join President-elect Joe Biden’s team as a financial expert. The former CFTC chair will be the lead tasked with ensuring as smooth a transition as possible with the Federal Reserve and banking and securities regulators.…

Leading Brazilian soccer team to tokenize FIFA player transfer fees

Vasco da Gama, one of the leading teams in Brazilian football, and Mercado Bitcoin, one of the largest cryptocurrency exchanges in Latin America, have announced plans to tokenize the rights of the solidarity mechanism of FIFA. The FIFA Solidarity Mechanism is a part of the FIFA Transfer Regulation, which acts as a selling right for a player and encourages clubs to develop young players. Through this mechanism, up to 5% of the total value of each international transfer of an athlete can be shared with all the clubs that an…