Tag: finance

DeFi to be examined at inaugural CFTC tech advisory meeting: Finance Redefined

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. DeFi will be in focus during the inaugural Commodity Futures Trading Commission (CFTC) tech advisory meeting, where a panel will “explore issues in decentralized finance.” Polygon, a layer-2 scaling protocol for Ethereum, has launched a zero-knowledge decentralized identity solution to the public nearly a year after announcing its development. The cryptocurrency phishing scammer behind some of the most high-profile and high-value Web3 thefts claims…

Russian Bank Issues Bank Guarantee in Chinese Yuan Using Blockchain – Finance Bitcoin News

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A bank in Russia has issued the country’s first blockchain-based bank guarantee denominated in Chinese currency. The financial institution underscored the advantages of using a digital form of the document and pointed out that demand for yuan payments is growing. MKB Employs Bank of Russia’s Masterchain to Issue Bank Guarantee in Yuan Moscow Credit Bank (MKB) has issued what it described as Russia’s first digital bank guarantee for an amount exceeding 100 million Chinese yuan, using blockchain technology — the Masterchain platform developed by the Central Bank of Russia. In…

Decentralized finance to be examined at inaugural CFTC tech advisory meeting

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The United States commodities regulator is set to take a close look at the decentralized finance space at an upcoming meeting of its tech committee, where it has also invited crypto industry executives to present. The Commodities Futures Trading Commission (CFTC) announced on March 1 that the agenda for the March 22 meeting of its Technology Advisory Committee will include a panel on “exploring issues in decentralized finance.” Other panels will explore responsible Artificial Intelligence (AI) development and possible threats arising from AI along with cybersecurity threats to financial markets. CFTC commissioner…

Platypus Finance creates compensation portal for users following $9.1M exploit

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Decentralized finance (DeFi) protocol Platypus Finance has created a portal that enables users to view how much the platform owes them following the recent $9.1 million exploit that the platform suffered. On Feb. 16, the DeFi protocol suffered a flash loan attack, pushing the Platypus USD stablecoin to break its peg with the U.S. dollar. At the time, Platypus confirmed a loss of around $8.5 million from its main pool. The firm also said that they have contacted the hacker to negotiate a bounty. A post-mortem report from Platypus auditor…

Former FTX Director Pleads Guilty to Charges of Fraud, Money Laundering, and US Campaign Finance Violations – Bitcoin News

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Roughly 11 days ago, it was reported that Nishad Singh, the former director of engineering at FTX, was working with federal prosecutors to arrange a plea deal. On Tuesday, Singh pleaded guilty to criminal charges and stated, “I am unbelievably sorry for my role in all of this.” Singh Cooperating With Authorities in FTX Investigation; Bankman-Fried Declines to Comment on Singh’s Guilty Plea Former FTX director of engineering Nishad Singh pleaded guilty to charges of wire fraud, conspiracy to commit fraud, money laundering, and violating campaign finance laws in the…

Japanese Tech and Finance Giants Launch Japan Metaverse Economic Zone – Metaverse Bitcoin News

Several Japanese tech and finance giants have signed a document to create the Japan Metaverse Economic Zone, a multipurpose virtual universe that will have its base in a platform called Ryugukoku. The virtual world will allow these companies to share their technology with users as it lets them roam this role-playing-game-like world as online avatars. Japan Goes Big on Metaverse With Japan Metaverse Economic Zone Several Japanese tech and finance companies have kickstarted the launch of one of the biggest metaverse initiatives in Japan. On Feb. 16, JCB, Mizuho Financial…

G20 Finance Chiefs Widely Recognize Crypto Poses Major Financial Stability Risks, Says Indian Central Bank Governor – Regulation Bitcoin News

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The G20 finance ministers and central bank governors recognize that cryptocurrencies pose major risks to financial stability, monetary systems, and cyber security, India’s central bank governor reportedly said. Crypto regulation was among the key topics discussed during the G20 meeting over the weekend. G20 Agrees Crypto Poses Major Risks to Financial Stability, Says RBI Governor Reserve Bank of India (RBI) Governor Shaktikanta Das talked about cryptocurrency during a media briefing Saturday following the G20 meeting of finance ministers and central bank governors in Bengaluru. According to India’s state-owned media agency…

Ceffu (Formerly Binance Custody) to be Custodian of Flynt Finance for Enhanced Asset Security and Off-Exchange Settlement – Press release Bitcoin News

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press release PRESS RELEASE. Flynt Finance, a cryptocurrency portfolio management platform, has announced a partnership with Ceffu, formerly known as Binance Custody, to provide its clients with enhanced asset storage security and access to its off-exchange settlement solution, Mirror. Ceffu is an institutional custodian that offers secure custody and liquidity solutions. With this partnership, Flynt Finance’s clients will benefit from Ceffu’s secure cold storage solutions, which are designed to protect against theft, loss, and other risks associated with the storage of digital assets. Flynt Finance’s automated strategies, including its covered…