Aave Nets $6m in Revenue Amid Crypto Plunge
The decentralized finance protocol Aave managed to earn over $6 million despite the sharp decline in cryptocurrency values. The founder of Aave, Stani Kulechov, stated in a post on X on August 5 that the revenue was secured via the DeFi protocol following the Monday drop in the cryptocurrency market that left investors reeling. Aave […]
Robinhood Suspends 24-hour Trades Temporarily
On August 6, Robinhood suspended overnight trading at its 24-hour market execution venue, Blue Ocean ATS (BOATs). BOATs suspended overnight trading on Robinhood from 12:00 am UTC to 8:00 am UTC on August 6, according to Robinhood Help, the company’s support account on X. “You have the option to cancel your order at any time, […]
Euro Stablecoin Market Surges Under MiCA Framework
French and Irish fintech companies have partnered to introduce a euro-backed stablecoin as the EU’s Markets in Crypto-Assets Regulation (MiCA) framework is progressively implementing itself. The market has been cleansed of participants who cannot comply with regulatory requirements, and a favorable environment has been established for stablecoins pegged to local currency due to these explicit […]
SEC Disputes Coinbase’s Document Request in Legal Battle
The SEC opposes Coinbase’s request for SEC Chair Gary Gensler‘s internal communications in their ongoing legal battle. In the most recent development in the ongoing legal dispute between the US Securities and Exchange Commission (SEC) and the American exchange Coinbase, the regulator has once again challenged what it considers to be an extraneous discovery request […]
US Launches $50B Treasury Buyback as 50 bps Fed Rate Cut Looms
On August 6, the U.S. government will begin a massive $50 billion Treasury buyback program, coinciding with concerns about an emergency Fed rate cut. On Tuesday, August 6, 2024, the United States will initiate its ambitious Treasury buyback program. This initiative aims to acquire $50 billion in Treasury securities every month. Moreover, it comes at a […]