Tag: finance

Fuji Finance is sunsetting operations due to dwindling funds

Decentralized finance cross-chain money market aggregator Fuji Finance said the protocol was unable to find the market for its product, while also experiencing limited finance. In a recent Medium blog post, the company said that it failed to find “product-market fit,” a situation which was made more difficult amid the current crypto bear market. Fuji Finance’s attempts to raise additional funds for further development proved futile, and its team has been trying to attract more investors since last February, according to the blog post, but the effort seemed unsuccessful, causing…

German crypto regulator calls for global rules to also govern niche finance centers

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While the European Union has made significant progress toward regulating crypto by approving its comprehensive framework, Markets in Crypto Assets (MiCA), the need for global regulation still remains, according to one of the top executives of the German Federal Financial Supervisory Authority (BaFin).  In a blog post on Sept 18, Rupert Schaefer, Executive Director of Strategy, Policy and Control at BaFin, highlighted the importance of unitary global regulation of the crypto industry. Citing the unfortunate example of the FTX, Schaefer compared regulators to air traffic control, and “some crypto assets…

Decentralized finance needs alternatives to blockchain

One of the laziest and most frustrating criticisms of digital currencies — particularly Bitcoin (BTC) — is when pundits liken it to a pyramid scheme dependent on the “greater fool” joining to make a quick buck. While some people do indeed purchase digital assets purely for speculative purposes, it’s unfair to ignore many of the great services and achievements that are being made by developers in areas such as remittances, logistics, financial inclusion and intellectual property. A fairer criticism of blockchains is that, for all proponents say about decentralization, blockchains…

Coinbase CEO stands up for DeFi, Polygon says $1B ZK-rollup paying off: Finance Redefined

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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. The past week in DeFi saw Coinbase CEO stand up for the nascent ecosystem amid growing calls for enforcement action, while Polygon CEO has said that its $1 billion zero-knowledge proof rollup bet is paying off. MakerDAO’s founder believes decentralized stablecoins could dominate crypto, while Solidus Labs says decentralized exchanges have become a magnet for wash trading. The top 100 DeFi tokens…

BIS thinks DeFi has no use cases, but CZ is bullish: Finance Redefined

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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. The past week in the DeFi ecosystem was filled with ups and downs, from the United States Commodity Futures Trading Commission’s (CFTC) investigation into multiple DeFi protocols to Binance CEO Changpeng “CZ” Zhao’s forecast that DeFi would outgrow centralized finance (CeFi) in the next bull run. While CZ anticipates a bright future for DeFi, a report from the Bank for International Settlements…

SOMA Finance to Issue the First Retail Compliant Digital Security

“We have been working quietly but diligently to develop the necessary technology to launch arevolutionary decentralized marketplace for digital assets, compliant digital securities, and NFTswhile liaising with regulators to provide a highly regulated decentralized financial platform,” saidWilliam B. Heyn, co-founder and co-CEO, SOMA.finance and CEO of Tritaurian Capital.” Source