Tag: finance

EU finance ministers approve MiCA crypto regulation

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European Union Council members have given the final green light on the highly-anticipated Markets in Crypto-Assets (MiCA) legislation following a voting process on May 16. 27 Finance ministers representing the EU’s member states voted in favor of passing the MiCA bill as well as amendments to a number of regulations and directives relating to the new legislation. Two more pieces of legislation, including regulation on information accompanying transfers of funds and certain crypto-assets, were also adopted by the EU parliament in conjunction with MiCA’s adoption. Related: Industry leaders and policymakers react to…

EU’s MiCA Crypto Legal Framework Inches Towards Law With EU Council Finance Ministers’ Sign-Off

MiCA requires crypto firms such as wallet providers and exchanges to seek a license to operate across the bloc, and stablecoin issuers to hold suitable reserves. Its main features were politically agreed in June, but it’s been subject to administrative hold-ups. Major provisions take effect just over a year after it’s published in the bloc’s official journal, which is now likely in June or July. Source

Inflation Expectations of Eurozone Consumers ‘Increased Significantly,’ ECB Says – Finance Bitcoin News

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Consumers in the euro area have sharply raised their expectations about inflation in the coming months, the European Central Bank revealed. Survey data showing this comes after the monetary authority slowed the pace of its rate hikes last week while indicating that it’s still early for a pause. ECB Registers Heightened Consumer Expectations About Inflation Europeans believe inflation will be around 5% over the next 12 months with their median expectations rising “significantly” in March from 4.6% in February, the European Central Bank (ECB) announced on Thursday, quoting its latest…

Rehypothecation May Be Common in Traditional Finance, but It Will Never Work With Bitcoin

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To illustrate, the software industry has enjoyed the margins it does because of the inherent ease in replication of digital information: there’s essentially zero marginal cost to produce one additional unit of a digital product. Consequently, with music, movies and software, an entire digital rights management industry emerged with the internet to thwart free duplication of products. Original

Worldcoin Launches World App to Bolster Decentralized Identity and Finance for Mass Adoption – Bitcoin News

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Worldcoin, the project supported by Openai CEO Sam Altman, has launched the World App to complement the release of World ID. The application aims to democratize decentralized identities and finance by utilizing World ID to enable users to sign into different websites, crypto applications, and share personal data in a privacy-focused manner. Worldcoin Unveils World App The Worldcoin project made an announcement on May 8, 2023, revealing the launch of their new World App. The application dubbed the “minimalist wallet” is designed to bring “decentralized identity and finance” to the…

Warren Buffett Sees ‘No Option’ Other Than US Dollar as Reserve Currency, but Warns Fed Can’t ‘Just Print Money Indefinitely’ – Finance Bitcoin News

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Warren Buffett, CEO of Berkshire Hathaway and one of the most renowned investors in the market, stated that he saw no viable option to become the world’s reserve currency besides the U.S. dollar. However, he warned about the dangers that printing too much money could bring to the strength of the currency in the future. Warren Buffett’s Only Valid Option for Reserve Currency Is the U.S. Dollar Warren Buffett, CEO of Berkshire Hathaway, also known as the ‘Oracle of Omaha’ due to his city of origin, gave his opinion about…

Defi Market Holds Steady at $49.31 Billion TVL, Lido Finance Leads the Pack With 24.82% Share – Defi Bitcoin News

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Since April 18, 2023, the total value locked (TVL) in decentralized finance (defi) has been fluctuating just below the $50 billion threshold. As of today, the TVL amounts to $49.31 billion, registering a 1% increase within the last 24 hours. TVL in Defi Shows Signs of Improvement, Yet to Surpass Previous Record of $53 Billion Currently, the combined TVL across all defi platforms stands at $49.31 billion as of May 6, 2023, with Lido Finance leading the pack by commanding a 24.82% share of $12.24 billion on Saturday. Over the…

DEUS Finance hacked, over $6M DEI stablecoin stolen

Over $6m worth of DEI, a stablecoin of the DEUS decentralized finance (DeFi) protocol, DEI, was stolen in a hack, the latest details on May 6 show. The exploit led to a loss of more than $5m on Arbitrum, an Ethereum layer-2 solution, and $1.3m in BNB Smart Chain (BSC). DEI losses over $6M in a hack A report from PeckShield, a blockchain security company, shows that DEUS Finance lost over $6m in a hack targeting two networks, BNB Chain and Arbitrum. While confirming the hack, DEUS said they had…

DEUS Finance loses $6M following stablecoin hack

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Decentralized Finance (DeFi) protocol DEUS has lost over $6 million due to a security breach on its stablecoin DEI. The hacker exploited a vulnerability in the BNB Smart Chain (BSC) on May 5, according to blockchain security firm PeckShield.  A bot initiated the hack on the BSC, which led to a loss of more than $1.3 million. The attacker also targeted the Arbitrum network, with ARB/ETH deployments losing over $5 million. Twitter users claimed the token contract had a basic implementation error as the root cause. Hi @DeusDao: it appears…