Chinese Court Invalidates Crypto Lending in Second Ruling
For the second time, a Chinese court has ruled that crypto lending is illegal in the country. Mr. Ming lent Mr. Gang a total of 80,000 Tether for stablecoin trading in April 2021, according to a press release from the Nanchang People’s Court dated 10 October. The loan was due within six months. However, Mr. […]
DeFi Platform Platypus Loses $2.2M in Flash Loan Exploit
Platypus, a protocol for decentralized financing (DeFi), has lost over $2 million in assets due to a recent flash loan exploit on its platform, this marks its third exploits in 2023. According to the blockchain security platform CertiK, the DeFi platform was subject to three intrusions, with $2.23 million stolen. On October 12, the first […]
Yen-backed Digital Currency DCJPY to Launch in July 2024
DeCurret Holdings, a digital currency and electronic payments company, published a white paper on its “DCJPY” a Japanese Yen-backed cryptocurrency initiative, on October 12, indicating its launch in July 2024. The white paper indicates that the DCJPY Network will comprise the Financial and Business Zone. Institutions will mint deposits as digital currency on the blockchain […]
eNaira Poses no Threat to Financial Stability – CBN
The Central Bank of Nigeria (CBN) had publicly asserted that the eNaira, central bank digital currencies (CBDC) initiative, does not threaten the nation’s financial stability. The CBN issued a press release on October 9 in response to “news articles on some media platforms” suggesting the eNaira threatens Nigeria’s financial stability. Some news articles, such as […]
JPMorgan Reportedly Launches Tokenization Platform TCN
According to a Bloomberg report, JP Morgan launched its blockchain-based collateralization platform, Tokenized Collateral Network (TCN), and completed its first transaction with BlackRock asset management. Tokenized Collateral Network is a program that permits investors to use assets as collateral. Using blockchain technology, they can transfer ownership of collateral without altering the underlying ledgers. In its […]