Deutsche WertpapierService Bank (dwpbank), which offers securities processing to around 1,200 banks in Germany, is creating a new platform, wpNex, that will offer Bitcoin (BTC) to all of its affiliates’ retail customers in the second half of this year. The new service will feature crypto accounts alongside bank customers’ other accounts and will not require additional Know Your Customer procedures,…
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 much-awaited airdrop of layer-2 scalability protocol Arbitrum has dominated headlines throughout the week. The hype around the token has led to exploits, fake airdrops and even a significant surge in volume for other…
From crypto paradise to crypto chaos—the situation for cryptocurrency enthusiasts in Venezuela has been anything but good in recent days. Following the arrest of Joselit Ramirez—Venezuela’s Superintendent of Cryptoassets—and President Nicolas Maduro’s order to restructure the country’s crypto regulatory agency, every day has brought bad news for the national crypto ecosystem. Most recently, the new Superintendent of Cryptoassets is apparently…
MakerDAO, the decentralized autonomous organization (DAO) that governs the DAI stablecoin, has voted overwhelmingly to keep USD Coin (USDC) as the primary collateral for DAI. An alternative proposal to “diversify” collateral into Gemini U.S. Dollar (GUSD) and U.S. Dollar Paxos (USDP) has been rejected in a 20% to 79% vote, according to the proposal’s official page. Vote totals for the…
Bitcoin and altcoins could see profit taking and risk-off positioning as the weekend approaches and investor concerns about Deutsche Bank arise. Source: https://cointelegraph.com/news/price-analysis-3-24-btc-eth-bnb-xrp-ada-doge-matic-sol-dot-ltc
The banking crisis could be the spark that will kick off the next crypto bull run, in which Bitcoin (BTC) is likely to outperform all other cryptos, according to Mike McGlone, the senior commodity strategist at Bloomberg Intelligence. Following the collapse of major banks such as Silicon Valley Bank and Credit Suisse, confidence in traditional financial institutions is being shaken…
Arbitrum’s native ARB token has landed a spot in the top 40 most valuable cryptocurrencies after yesterday’s airdrop, as its price shot up quickly before a sell-off leveled off the explosive hype. The token’s place as the 38th largest digital asset—by market cap, according to data from CoinGecko—comes one day after the project launched the highly-anticipated token to users of…
Bitcoin NFT inscription activity has remained strong with consistency in the daily number of NFTs inscribed on Bitcoin. At the same time, the infrastructure to foster Bitcoin trading is finally coming together with the development of wallets and marketplaces supporting Ordinals. NFT marketplaces, Gamma and Magic Eden, added support for Bitcoin NFTs this week. While the initial response of traders…
European banks are going into the weekend with renewed fears surrounding their future, as shares of Deutsche Bank plunged over 7% on the New York Stock Exchange on March 24, after a down day on Frankfurt’s markets. Deutsche Bank shares were impacted by an increase in the cost of insuring against its potential default risk. The German bank’s five-year credit default…
Cryptocurrency exchange Zipmex has reportedly not received the latest payment under its buyout agreement with venture capital firm V Venture. The exchange has sent a letter to the firm warning that it will have to begin liquidating one of its units without that money. The $1.25 million payment was intended to provide working capital for the Singapore-based exchange and was…
