Tag: finance

‘Not the Right Time to Stop’ Rate Hikes, ECB Chief Economist Says – Finance Bitcoin News

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Current indicators suggest the European Central Bank (ECB) should raise the interest rate in May, the monetary authority’s chief economist said. Future increases will depend on the economic data but this is still not the right time to stop, according to Philip Lane who believes the bank has to bring inflation back to the 2% target “in a timely manner.” Leaving Interest Rate at Current Level Would Be ‘Inappropriate’ Despite Falling Inflation, Lane Says Inflation in the euro area has dropped significantly between October, when it peaked at 10.6%, and…

BRICS Currencies to Have No Alternative, Former Russian President Medvedev Says – Finance Bitcoin News

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Fiat currencies of BRICS member states will have no alternative in the future, according to former President of Russia Dmitry Medvedev. Nations in the bloc need to think about their digital forms and a digital currency issued by the group as a whole, the Russian politician said. Ruble, Yuan, Other BRICS Currencies to Take Over After Euro Collapse, Dmitry Medvedev Predicts Russia’s former head of state, Dmitry Medvedev, does not rule out the collapse of the common European currency and a return to national fiats on the Old Continent. “It…

DeFi Protocol iZUMi Finance Raises $22M

The fundraising round was more complicated than a typical “cash in, equity out” arrangement. The company issued an iZUMi zk-Fund through strategic partner Solv Protocol that is a semi-fungible token, or SFT. Investors who purchase the fund receive an SFT in their wallet to represent their share, making them a limited partner of the fund. Upon maturity, investors can redeem the SFT for their principal. Source

Ordinals Finance steals $1m from users, OFI token crashes 95%

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 has conducted a $1M rug pull: CertiK

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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…

DeFi Protocol Thetanuts Finance Raises $17M From Polychain Capital, Hyperchain Capital, Others

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

Russia to Work With Digital Currencies of Other Nations – Finance Bitcoin News

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…

Treasury Secretary Yellen Says US Government Will Take ‘Any Steps Necessary’ to Preserve Its Financial Dominance – Finance Bitcoin News

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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…