The European Parliament last week voted on the Markets in Crypto Assets Regulation, MiCA, which is set to offer a licensing regime for wallet providers, exchanges and stablecoins as of 2024. Equivalent bills in the U.S. have failed to gain political traction. Source
Ordinals Finance, a platform on Ethereum that allowed users to trade Bitcoin Ordinals’ inscriptions, has deleted their Twitter and Telegram handles and rugged users off $1 million, as per CertiK, a blockchain security firm. In a tweet on late April 24, CertiK said the anonymous team behind Ordinals Finance withdrew roughly $1 million of OFI, the platform’s native token, after activating two functions on the deploying smart contracts, causing losses to OFI holders and forcing the token’s price to plunge by over 95%. An analysis of the rug pull reveals that the…
Ordinals Finance, an Ethereum-based decentralized finance (DeFi) protocol that allows users to lend and borrow inscriptions, has been accused of performing an exit scam, also known as a “rug pull.” In an April 24 press release seen by Cointelegraph, blockchain security firm CertiK reported that the protocol’s developer pulled 256 million Ordinals Finance (OFI) tokens out of its smart contracts using a “safuToken” function. Another 13 million OFI was removed through an “ownerRewithdraw” function, bringing the total number of tokens withdrawn to 269 million, CertiK stated. #CertiKSkynetAlert We can confirm…
Thetanuts Finance is a DeFi firm offering a range of crypto structured products that cater to a wide customer base, including option traders, decentralized autonomous organizations (DAOs), market makers and other liquidity providers. Users of the platform can earn yield on major cryptocurrencies and popular altcoins, provide liquidity, and execute short and long options strategies. Source
The platform developed for the digital ruble will be able to operate with different state-issued digital currencies, the Bank of Russia said. Mechanisms for interaction with digital coins minted by the central banks of other countries are already under development, the monetary authority unveiled. Digital Ruble Platform to Support Integration With Other CBDCs, Bank of Russia The system underpinning the issuing and circulation of Russia’s central bank digital currency (CBDC) may well work with the digital legal tenders of other nations, representatives of the Russian monetary policy regulator indicated this…
According to U.S. Treasury Secretary Janet Yellen, the United States government is prepared to take the steps necessary to ensure its financial system remains the world’s strongest and safest. Yellen said that the U.S. government will not hesitate to punish Chinese companies that violate its Russian sanctions policy. U.S. Ready to Shore up Its Financial System The U.S. Treasury Secretary Janet Yellen said while her country’s financial system is still in good shape the United States government is still prepared to take “any necessary steps” to ensure it remains the…
The development bank established by the BRICS group of nations has issued its first “green” bonds in U.S. dollars (USD). Proceeds from the placement will be used to fund “green” projects supported under the banking institution’s sustainable financing policy. BRICS Development Bank Launches 3-year ‘Green’ Bonds The New Development Bank (NDB), founded by the BRICS bloc, has placed three-year “green” bonds on international capital markets in the amount of $1.25 billion, the bank announced in a press release on Thursday, quoted by the Tass news agency. The benchmark bond has…
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. This week in DeFi saw the hacker behind the $8.9 million SafeMoon exploit agree to return the majority of the stolen funds. According to the project’s developers, the hacker will return 80% while keeping the remaining 20%. United States crypto lender BlockFi was granted an additional 48-day extension to submit its exit plan by a New Jersey bankruptcy judge, exploring the potential…
The Consensus Pitchfest 2023 gives a platform to firms that are leading game-changing innovations in crypto, creating more space for financial inclusion and empowerment globally. Source
US individuals and business entities may not have access to the offering. Blockchain-based lender Maple Finance has introduced a United States Treasury pool designed specifically for non-US accredited investors. According to a blog post where it shared the announcement, the new cash management pool will allow investors to invest in one-month US Treasury bills (T-bill). However, US individuals and business entities may not have access to the offering. The post also confirms that the pool is structured in a special purpose vehicle (SPV) manner, with crypto hedge fund Room40 Capital…