Yield-bearing Treasury-backed stablecoin USDY launches on Aptos

Major bank HSBC has announced the successful enactment of a letter of credit (LC) on a blockchain in Malaysia.The transactionEnglish language local fintech news outlet Fintech News Malaysia reported the development on Oct. 14, noting that the transaction involved packaging firm Simply Packaging importing resin from an unspecified Singaporean chemicals company. The issuing bank was…

South Africa’s national cricket organization briefly fell victim to scammers on Twitter and began offering a fake Bitcoin (BTC) lottery, Indian daily news outlet Indian Express reported on Jan. 14.Cricket South Africa (CSA), which has over 1 million followers, tweeted its alleged participation in the scheme in the early morning.Staff claimed the organization had begun…

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.After the Mango Markets exploit last week, Compound protocol paused the supply of four tokens as lending collateral to protect it against any price manipulation.Crypto staking protocol Freeway said one…

The Aave lending protocol introduced a new market based on Uniswap liquidity tokens, which lets depositors borrow assets against these synthetic tokens.The Uniswap market was launched and announced on May 28, and it lets holders of specific liquidity tokens use them as collateral to borrow crypto assets from the protocol.Each liquidity token represents ownership in…

The world's supposed first room-temperature ambient pressure superconductor already has a memecoin. 84 Total views 1 Total shares Last month, a team of South Korean scientists claimed they engineered a superconducting material, dubbed LK-99, that works under ambient temperature and pressure. In layman's terms, the team allegedly created a material allowing electrical currents to flow…

Kraken was previously aiming to implement the BItcoin Lightning Network in 2021 after officially announcing the plan in late 2020. 736 Total views 25 Total shares Major American cryptocurrency exchange Kraken reportedly started implementing the Bitcoin (BTC) Lightning Network for users a bit later than the firm originally planned.Bitcoin maximalist Mr.Hodl took to Twitter on…

Intercontinental Exchange’s to-be-launched institutional trading platform Bakkt has earned a $740 million valuation after it raised over $180 million in funding last year, anonymous sources told cryptocurrency industry news outlet The Block on March 21.Bakkt, which has yet to launch any investment products and continues to liaise with regulators, could increase its valuation even further…

U.S. international law firm Perkins Coie (PC) announced it had hired a former counsel for the country’s commodities regulator to work in its blockchain practice in a press release Nov. 6.Kari Larsen, who previously worked at the Division of Enforcement of the Commodity Futures Trading Commission (CFTC), will now be based at PC’s Blockchain Technology…

The price of Bitcoin (BTC) dropped sharply from $37,800 to $35,000 overnight, liquidating $572 million worth of cryptocurrency futures positions.There are three major reasons why the price of Bitcoin declined steeply in the past 12 hours. The reasons are an overheated derivatives market, growing doubt in the market, and the lack of upside volatility.BTC/USD 15-minute…