Ontology to Launch Regulated USD Stablecoin PAX on Ontology
Ontology will launch Paxos Standard (PAX), a regulated USD stablecoin, on the Ontology blockchain, in May.
Banks Can’t Snub Crypto Startups Thanks to France’s New Blockchain Law
France’s new crypto law grants blockchain-related projects the right to a bank account, provided they opt in to being regulated
tags: Fintech Regulation
Big Tech’s Invasion of Banking
Rather than brashly setting out to replace banks altogether, big tech’s strategy is to quietly seize the customer relationship one product at a time by offering a seamless digital financial services experience tied to their core platforms. This presents bankers with a dilemma: should they try to beat back the invaders or join forces in order to gain access to their customers?
Vitalik Proposal Could Turn Ethereum Staking Into $160 Million Industry
Rather than relying on a proof-of-work consensus protocol, ethereum 2.0 will rely on a proof-of-stake consensus protocol whereby validators stake their own funds and attest to blocks and transactions being created on the network.
DAI Has Been Struggling to Maintain Its $1 Peg, but the MakerDAO Community Believes It Will Soon Be Crypto’s ‘Default’ Stablecoin
Launched in December 2017 as an ERC-20 token, MakerDAO is pegged 1:1 with the United States dollar, with its peg being maintained via over-collateralization with ether (ETH). In other words, users receive the equivalent of $1 in DAI by depositing more than $1 in ETH, and they can later reclaim their collateral by repaying the DAI they’ve received plus a “stability fee” in MKR, MakerDAO’s other (nonstablecoin) token. By charging users this additional fee, the MakerDAO system theoretically prevents the value of DAI from dropping below $1, since the fee makes it expensive to mint more DAI tokens.
tags: Fintech Ethereum MakerDAI AltCoins Stablecoins CryptoAssets
TalkGold — the ponzi forum where Quadriga’s Patryn and Cotten first met
Quadriga cofounders Michael Patryn and the now-deceased Gerald Cotten worked together for a period at Midas Gold, a digital currency exchanger that ran from 2008 until May 2013, when it was pulled offline. Now it appears their connections stretch back even further.
A look at Crypto Capital, the company serving both Bitfinex and QuadrigaCX
What does QuadrigaCX, the Canadian exchange that recently lost $190 million in users’ funds and Bitfinex, which lost $850 million in funds, have in common? They both relied on a shady Panama “bank,” Crypto Capital, to handle payment processing.