Tether, the issuer behind the world’s largest stablecoin, USDT, has decided against launching its own blockchain, citing market saturation and strategic concerns. Paolo Ardoino, Tether’s CEO, shared in an interview with Bloomberg News that the company’s decision stems from an analysis of the current blockchain landscape, where numerous platforms already offer similar functionalities. Ardoino explained...
The Australian Securities and Investments Commission (ASIC) has filed a lawsuit against the Australian Securities Exchange (ASX) in Federal Court, alleging that the stock exchange made “misleading and deceptive” statements regarding its now-abandoned blockchain project. The lawsuit claims that ASX’s assurances about the progress and expected go-live date of its blockchain-based system to replace the...
The U.S. Senate Committee on Armed Services, under the Biden administration, has decided to explore the use of blockchain technology for supply chain management and other national security applications within the Department of Defense (DOD). This initiative is part of the latest National Defense Authorization Act (NDAA) report, which acknowledges the potential of blockchain for...
Particle Network, a modular blockchain developer specializing in chain abstraction technology, has successfully raised $15 million in a Series A funding round. The round was structured as a simple agreement for future tokens (SAFT), according to founder and CEO Pengyu Wang. The funding round was co-led by The Spartan Group and Gumi Cryptos Capital, with...
The impending launch of the European Union’s Markets in Crypto-Assets (MiCA) regulation is expected to significantly boost the adoption of Euro-backed stablecoins. According to a recent report by Kaiko Research, the MiCA guidelines, set to take effect by the end of June, will provide much-needed regulatory clarity for stablecoins, encouraging their use within the EU....
Michael Novogratz’s firm, Galaxy Digital, has tokenized an 18th-century violin as collateral. The 316-year-old violin belongs to Animoca Brands co-founder Yat Siu, who bought it at an auction last year. Tokenizing the instrument is expected to enhance liquidity and accessibility for investors. Galaxy Digital has created a blockchain version of the musical instrument, which is...
OKX, a major cryptocurrency exchange, has announced the launch of its comprehensive trading services in Australia through a locally regulated entity. This strategic move aims to expand OKX’s presence in the Asia-Pacific region and tap into Australia’s advanced and diverse investor base. At a media event in Sydney on May 14, Oscar Piastri, a McLaren...
The German state-owned bank, Kreditanstalt für Wiederaufbau (KfW), has announced its plans to issue its first blockchain-based digital bonds by summer 2024. These bonds will be managed using blockchain technology to ensure secure and transparent transactions and are classified as crypto securities under the German Electronic Securities Act (eWpG). KfW has partnered with major financial...
Binance, a leading cryptocurrency exchange, has announced the delisting of trade pairs involving the stablecoin backed by the Indonesian Rupiah (BIDR). This change will impact trading pairs for Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) across various services offered by the exchange. The exchange has outlined a detailed action plan with specific deadlines for the...
Today, the Blockchain Association and the Crypto Freedom Alliance of Texas launched a legal challenge against the SEC, contesting the agency’s expanded definition of “dealer” within the cryptocurrency sector. Filed in the Northern District of Texas, the lawsuit argues that this redefinition could significantly impair the U.S. crypto industry, asserting that the SEC overstepped its...
