MakerDAO to revert to its decentralised state again
During the next couple of months, MakerDAO intends to finish its roadmap toward decentralised governance by dissolving its foundation. In a recent announcement, MakerDAO , the pioneering decentralised financial system, revealed that its foundation will be formally dissolved in the coming months, marking the completion of one of the final steps on the protocol’s route to […]
See The Reason Behind Circle’s Dollar-Pegged Stablecoin USDC
The reserves that support the dollar-pegged stablecoin USDC were published today by Circle, the firm behind it. Circle, the stablecoin issuer, detailed the numerous sources of backing that underpin its stablecoin USDC in a blog post published this morning. Stablecoins are digital currencies that are tied to the value of a fiat currency, in this […]
OpenSea Raises $100 Million amid plans for Multi-Chain (NFT)
Andreessen Horowitz led a Series B investment round for OpenSea, the $100 million raised gives the company a $1.5 billion valuation. OpenSea, a renowned NFT marketplace , has become the latest crypto unicorn. After collecting $100 million in a Series B round spearheaded by Andreessen Horowitz (a16z), the company received a $1.5 billion valuation. Coatue, […]
U.S. Treasury Secretary urges regulators to “act quickly” to deal with stablecoins
A meeting with the President’s Working Group on Financial Markets was held in which U.S. Treasury Secretary Janet Yellen discussed the use of stablecoins. The US Treasury Secretary met with members of the President’s Working Group on Financial Markets and representatives from numerous US financial institutions to address the risks posed by the expanding stablecoin […]
Bank of Korea selects GroundX for their digital currency project
The Bank of Korea has selected Kakao’s blockchain arm to conduct digital won trials. Additionally, ConsenSys, a major Ethereum software startup , will contribute its technology to CBDC simulations in South Korea, which will be conducted by Ground X. In order to support its digital currency experiments, the South Korean central bank has selected a […]