New York State DFS releases guidance for issuing dollar-backed stablecoins
The New York State Department of Financial Services (DFS) announced regulatory guidance for DFS-regulated firms issuing US dollar-backed stablecoins. According to a statement from the Department of Financial Services, it is the first authority in the United States to place such demands on a stablecoin issuer. The guidance specifies requirements for redeemability, reserves, and attestation. […]
Delphia raises $60M in Series A funding led by Multicoin Capital
Delphia, an algo-adviser startup has concluded a $60 million funding round as it prepares to launch a new data-focused decentralized autonomous organization (DAO). Multicoin Capital, a crypto-focused investment fund, led the Series A round, which also included Ribbit Capital, FTX Ventures, Valor Equity Partners, FJ Labs, Lattice Ventures, and Cumberland. The cash will be used […]
Osmosis DEX faces hack resulting in $5M loss
Osmosis, a well-known DEX in the Cosmos ecosystem, had to immediately suspend services following a hack which resulted in a $5 million loss. The osmosis chain has been suspended due to “emergency maintenance,” according to the DEX’s official discord, and users are advised not to use the chain or the DEX for any crypto activity […]
Here’s How Altcoins Might Perform In Near Future
Despite predictions that Bitcoin will fall below $20,000, its market domination continues to shoot up to almost 50% of the market while altcoins bleed. Bitcoin currently holds a remarkable 47.33% of the cryptocurrency market, while altcoin prices have recently plummeted. Will Bitcoin have a 50% market share? According to Project Syndicate, a trader active on […]
Alibaba Launches NFT Tools Despite China Strict Rules On Digital Asset
Alibaba Cloud, a division of Alibaba Group, has launched non-fungible tokens (NFTs) solutions even while the Chinese government takes a restrictive approach toward digital assets. The computing company will also build NFT marketplaces, as well as web-hosting and content management. Alibaba will assist users in creating NFT marketplaces NFTs have gained a lot of attention […]