The cryptocurrency-focused financial services firm won an auction to buy the company from crypto lender Celsius, which filed for Chapter 11 bankruptcy protection. Crypto Markets Today is CoinDesk’s daily newsletter diving into what happened in today’s crypto markets. Original
Blockchain-based institutional capital marketplace Maple Finance announced on Dec 5 that it plans to cut all ties with Orthogonal Trading due to alleged misrepresentation of finances following the collapse of FTX. According to Maple Finance, it decided to cut all ties with the trading firm because it misrepresented its finances over the last four weeks and only recently admitted on Dec. 3 that it could not meet loan repayments. This means the company had been “operating while effectively insolvent,” making it impossible for it to continue operating without outside intervention. Maple…
Orthogonal Trading was due to pay back a $10 million USDC stablecoin loan on Dec. 4. Source
A Nigerian finance bill, which seeks to amend the country’s various tax statutes, contains provisions which allow the government to tax cryptocurrency and other digital asset transactions, a report has said. Nigeria is reportedly seeking to join six other countries, including two from Africa, which already levy taxes on digital asset transactions. Extracting More Revenue From E-Commerce Transactions According to the Nigerian finance minister, Zainab Ahmed, the country’s 2022 finance bill — which seeks to amend excise and duty statutes — has provisions allowing the government to collect tax on…
Place/Date: Hong Kong – December 5th, 2022 at 11:11 am UTC · 2 min read Contact: Jen, Source: Pando Finance Pando Finance Limited, a leading asset management company in Hong Kong, will list two HK SFC-authorized actively managed thematic Exchange Traded Funds “Pando Blockchain ETF (3112 HK)” and “Pando Innovation ETF (3056 HK)” on the Hong Kong Stock Exchange (HKEX) on 8 December 2022 Thursday. Pando Finance believes blockchain and innovation are the key for long-term growth in portfolio. Pando Finance employs an actively managed investment strategy as Pando Finance believes…
A Russian company has announced the country’s first authorized transaction with digital financial assets (DFAs) involving a foreign currency, China’s yuan. The deal, reportedly the largest made to date under the current Russian DFA law, covers the issuance of tokens secured by commercial debt. Digital Financial Assets for 58 Million Yuan Issued by Russian Platform A licensed firm has finalized Russia’s first deal with digital financial assets denominated in foreign fiat. The transaction involved the issuing of DFAs worth 58 million Chinese yuan (approx. 516 million rubles or $8.26 million)…
Banking giant Sber wants to integrate its blockchain platform with the Ethereum blockchain and the Metamask wallet. The Russian bank believes the integration will give developers more options and create new opportunities for users when in operations with tokens and smart contracts. Sber Bank to Provide Ethereum and Metamask Support on Proprietary Blockchain The blockchain platform developed by Sber, Russia’s largest bank, will be technologically compatible with Ethereum, the world’s largest decentralized finance (defi) ecosystem. The financial institution made the announcement during an international meeting with members of the blockchain…
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. The FTX contagion that started in the second week of November is still haunting various crypto protocols in the DeFi ecosystem. The latest to fall prey to the contagion includes the Solana-based decentralized exchange (DEX) Serum, of which Alameda and FTX were backers. Another DeFi crypto trading firm Auros Global missed its principal repayment on a 2,400 Wrapped Ether (wETH) DeFi loan. Looking at…
Both Ambit Finance and Binance Labs will work together on launching future DeFi apps with a focus on innovation, security, and risk control. Earlier today, December 2, crypto exchange Binance announced a strategic investment of up to $4.5 million in Ambit Finance. The investment will come through Binance Labs, a venture capital arm of Binance. The goal behind this investment is to provide a boost to decentralized finance (DeFi) applications on BNB Chain. As a result, Ambit and Binance Labs will work together in launching future DeFi apps while putting…
The central bank of Ukraine has presented to interested parties a draft concept of the nation’s future digital currency, the e-hryvnia. The regulator is currently considering several potential applications for its digital coin, including retail payments and cross-border settlements. Ukraine’s Monetary Authority Introduces Banks and Businesses to E-hryvnia Project The National Bank of Ukraine (NBU) has presented a draft concept for its future central bank digital currency (CBDC) to representatives of banks, other financial institutions and participants in the crypto market. The regulator seeks feedback on the possible issuance of…