BlackRock Executive Says Digital Identity Infrastructure Critical for Institutional Involvement in DeFi
June 23 (Cointime) - Joseph Chalom, head of strategic partnerships at BlackRock, emphasized the importance of developing digital identity infrastructure for decentralized finance (DeFi) to attract large institutional players. However, this may contradict the privacy values of crypto natives. BlackRock's recent application to list a bitcoin exchange-traded fund (ETF) positions them as a potential industry leader, with greater influence over industry rules. Chalom stated that identifying counterparties is crucial for institutions like BlackRock to avoid legal repercussions, and called for a clear understanding of who is in a pool.
Tether Launches USDT Stablecoin on Kava Blockchain to Expand Multi-Chain Presence
June 21 (Cointime) - Tether has expanded its multi-chain presence by launching its USDT stablecoin on Kava, a Layer 1 blockchain built on the Cosmos network. Kava joins over a dozen other blockchains, including Ethereum, Solana, and Algorand, in hosting USDT. Paolo Ardoino, Tether's CTO, praised Kava's four-year track record of zero security issues, which is crucial for protecting USDT users.
Astaria Executes Whitehat Recovery Script to Protect Funds and NFTs
June 21 (Cointime) - Astaria, a decentralized finance (DeFi) protocol, has been placed in a paused state after an issue with the base implementation of BeaconProxy.sol was discovered. This issue allowed an attacker to manipulate the beacon into loading a rogue implementation that could have resulted in the attacker calling self-destruct. As a precautionary measure, no new loans can be originated at this time.
French Regulator Supports Globally Coordinated Rules for Decentralized Finance (DeFi)
June 19 (Cointime) - France's top financial regulator, the Autorité des Marchés Financiers (AMF), has expressed its support for globally coordinated regulations for decentralized finance (DeFi).
MUFEX: Empowering Decentralized Perpetual Contract Trading with Account Abstraction and a Hybrid Order Book/Liquidity Pool Model
MUFEX, stands for the "Most User-Friendly EXchange," highlighting the platform's goal of reducing entry barriers to the cryptocurrency market.
Frax Finance Team Unveils Strategy for Decentralized Finance-focused Layer 2 Blockchain, Fraxchain
June 16 (Cointime) - Frax Finance, the team behind the Frax stablecoin, has announced plans to launch Fraxchain, a Layer 2 blockchain focused on decentralized finance and smart contracts. Fraxchain will be governed by Frax Shares (FXS) token holders and will use the Frax stablecoin and Frax Ether for transaction fees. The network is expected to be ready by the end of the year and will incorporate a decentralized sequencer model, allowing for sequencer roles to be auctioned off and rotated. This feature sets Fraxchain apart from other Layer 2 solutions on Ethereum, which typically rely on a single sequencer.
Tether de-pegs as Curve 3Pool becomes Imbalanced
June 15 (Cointime) - Tether's stablecoin, USDT, has deviated slightly from its peg due to an imbalance in Curve's 3Pool, which is a popular pool for stablecoin trading in decentralized finance. The ideal balance of the 3Pool should be 33.33% for each of its three stablecoins, but USDT's balance has increased to over 70%, indicating that traders are selling USDT for DAI or USDC. Tether's CTO, Paolo Ardoino, believes that the market is tense, and recent news is causing large groups to exit from crypto markets. Tether is prepared to redeem any amount and will monitor the situation.
In early June (06/05~06/09), an overview of Web3 financing projects
This article summarizes the financing reports in the blockchain and cryptocurrency field from June 5th to June 9th, 2023.
BBS NYC: AI and Web3 Building a New Perspective for a Sustainable Future
BBS.NYC is a grand event in the blockchain technology industry, held twice a year worldwide. On June 1, 2023, global blockchain experts, developers, and investors gathered in New York to exchange and discuss various topics, including zero-knowledge proofs, digital wallets, distributed science, DeFi, SocialFi, cryptocurrency payments, and the integration of Web3 and AI. Now, let's take a moment to look back at the scene.
