The province of San Luis in Argentina approved a legislation allowing the issuance of its own stablecoin pegged to the United States dollar. The token, dubbed the “Activo Digital San Luis de Ahorro”, will be available to all citizens of the province over the age of 18 and 100% collateralized in liquid financial assets of the province. The bill authorizes…
Crypto markets threw a nice head fake this week by rallying into resistance on a “positive” Consumer Price Index (CPI) report, before retracing the majority of those gains right after Federal Reserve Chair Jerome Powell took on a surprisingly hawkish tone during his post-rate-hike presser. The Fed hiked interest rates by 0.50%, which was well within the expectation of most…
This year saw an influx of trademark applications filed by various companies looking to get in on the Web3 action. By November, a total number of 4999 US trademark applications had been filed for cryptocurrencies and digital related goods/services — this according to USPTO licensed trademark attorney, Mike Kondoudis. According to the USPTO licensed trademark attorney, the future of the Web3…
Ethereum co-founder Vitalik Buterin is raising alarms on Elon Musk’s recent wave of Twitter censorship, stating that the site’s barrage of account bans over the last few days are putting Twitter on “the path to authoritarianism.” In response to a post praising Musk, Buterin said Musk was deploying a strategy he calls “central planning as overfitting,” where Musk introduces policies…
Officials with the United States Financial Stability Oversight Council, or FSOC, have recommended U.S. lawmakers pass legislation aimed at addressing regulatory gaps for crypto-related activities. In its annual report released on Dec. 16, the FSOC recommended members of Congress pass legislation granting “explicit rulemaking authority for federal financial regulators over the spot market for crypto-assets,” noting that tokens previously identified…
On Thursday, former U.S. President Donald Trump released a 45,000-piece series of $99-apiece NFTs following long-awaited hints that a “major announcement” would be forthcoming. Many people had assumed the announcement would relate to Trump’s recently declared 2024 presidential campaign, but here we are. The NFT “trading cards” feature digital renderings of Trump in a variety of kitschy getups, including cowboy…
While billions of dollars in crypto assets have been withdrawn from Binance, the world’s largest exchange in terms of volume, the stablecoin BUSD has seen its coins in circulation drop considerably during the last three days. While 20% of BUSD’s supply was drained since last month, statistics show that 14.77% of the reduction took place on Dec. 13. BUSD’s Supply…
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. Industry experts are confident in DeFi and believe the sector would continue to see adoption despite its security flaws, primarily due to the mammoth failure of centralized exchanges. Despite the continued growth, however, the…
The U.S. Department of Justice announced on Friday that “Cryptoqueen” Ruja Ignatova associate and OneCoin co-founder Karl Sebastian Greenwood has pleaded guilty to federal charges of wire fraud and money laundering in connection to the OneCoin scam. “As a founder and leader of OneCoin, Karl Sebastian Greenwood operated one of the largest international fraud schemes ever perpetrated,” U.S. Attorney Damian…
The total cryptocurrency market capitalization dropped 8.1% in the past two days after failing to break the $880 billion resistance on Dec. 14. The rejection did not invalidate the 4-week-long ascending channel, but a weekly close below $825 billion will confirm a shift to the lower band and reduce the support level to $790 billion. Total crypto market cap in…
