The USDT issuer has made inroads into the traditional finance and accounting sectors as it attempts to increase transparency around its holdings. Stablecoin issuer Tether Holdings is relying on the services of a major Wall Street firm to manage its Treasury portfolio, according to a Feb. 10 report by The Wall Street Journal.  Citing sources...Continue Reading

Research from JPMorgan Chase explores the potential of deposit tokens as a stabilizing force in the digital money landscape. JPMorgan Chase and consultants Oliver Wyman took a look at blockchain technology in commercial banking in a report released Feb. 9. Stablecoins and central bank digital currencies (CBDCs) have dominated in the sphere so far, but...Continue Reading

The milestone is another step on the road to the Shanghai upgrade, which remains scheduled for March. The Ethereum Foundation team announced another milestone on the road to the Shanghai upgrade, with the Shapella fork on the Zhejiang testnet moving into the final pre-launch sequence, according to a blog post on Feb 10. The Shapella...Continue Reading

Christopher Waller praised the emerging applications of distributed ledger technology, smart contracts and tokenization, but he changed his tune for crypto assets. The parts that make up the cryptocurrency ecosystem are not all equal, United States Federal Reserve Board governor Christopher Waller told a conference audience on Feb. 10. He had clear preferences among the...Continue Reading

The liquidators said they would “commence disposals” of certain FTX Digital physical assets following approval from the Bahamas’ supreme court. The joint provisional liquidators of FTX Digital Markets — the firm’s subsidiary in the Bahamas — has released a report on the company’s physical assets in the island nation. According to affidavit filed by a...Continue Reading

The Web3 ecosystem came together to offer all possible help and aid to the victims of the Turkish-Syrian earthquake — one of the worst natural disasters in recent history. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week....Continue Reading

The SEC’s move to ban staking is going to encourage more people to move toward decentralized options beyond the agency’s reach. Rumors of an impending crypto ban came to fruition on Feb. 9 with the Securities and Exchange Commission’s enforcement action against Kraken, which resulted in a settlement where the exchange agreed to end its...Continue Reading

As FTX seeks clawbacks on political donations, Digital Currency Group and its bankrupt subsidiary, Genesis Global Trading, have reached an agreement on restructuring. Remember when Sam Bankman-Fried admitted to being a significant donor to the Democratic and Republican parties? Well, the recipients of the tainted money have been formally requested to return the funds to...Continue Reading

Kraken has put an end to staking as a service, and Coinbase could eventually be forced to follow suit. Will this create opportunities for LDO, FXS and RPL? The United States Securities and Exchange Commission is ramping up pressure on the crypto sector. On Feb. 9, the SEC reached a $30 million settlement with Kraken...Continue Reading

The new foundation will be governed by a board of three or more members, and no organization will hold more than one seat. The decentralized autonomous organization that governs privacy-focused blockchain Secret Network has voted to restructure its foundation as a nonprofit with a “transparent operation,” according to the proposal’s official page. Congrats to the...Continue Reading