Mastercard Reports Successful Trial of Wrapped CBDCs
Mastercard has concluded an experiment involving the wrapping of central bank digital currencies (CBDCs) on various blockchains. The Reserve Bank of Australia (RBA) and the country’s Digital Finance Cooperative Research Centre CBDC and Cuscal and Mintable participated in the trial, as announced on October 12. Mastercard stated that the solution enabled a CBDC owner to […]
Coinbase Ceases pUSDC Withdrawals
Coinbase has discontinued pUSDC withdrawals on Polygon; however, users can still deposit and withdraw USDC. On October 12, 2023, Coinbase, one of the most prominent cryptocurrency exchanges, announced that it would no longer support withdrawals of pUSDC, the wrapped variant of USDC on the Polygon network. However, pUSDC deposits will continue to be accepted, and […]
Elliptic Connects FTX’s $400 Million Loss to Russian Syndicates
Elliptic traces the $400 million in stolen FTX assets to Russian cyber criminals, RenBridge, and money movement mixers. Approximately $400 million of stolen assets from the now-defunct FTX cryptocurrency exchange may have been traced to cybercriminal organizations based in Russia. This discovery is based on a comprehensive analysis by Elliptic, a prominent research firm. A […]
CBDC Innovation Fuels Hong Kong-UAE Financial Ties
Hong Kong and UAE banks have formed a bilateral working group to strengthen market interconnection, CBDC, and financial infrastructure. Hong Kong and the United Arab Emirates (UAE) have strengthened their financial cooperation by working together on several technological initiatives. These initiatives include the development of central bank digital currencies (CBDCs) in an effort to improve […]
Court Approves $175M Settlement From Genesis to FTX
A New York bankruptcy judge has authorized a settlement between bankrupt crypto firms FTX and Genesis Global Trading (GGC), allowing FTX-affiliated Alameda Research to receive $175 million from GGC. In a filing on October 11, the United States Bankruptcy Court for the Southern District of New York approved the settlement agreement between FTX and GGC’s […]