-
Roche Freedman filed a class-action suit claiming that stablecoin firm Tether and its affiliate crypto exchange Bitfinex have been involved in defrauding investors, manipulating markets and concealing illicit proceeds, the firm’s founding partner Kyle Roche tweeted on Oct. 7.
-
LEO is a curiosity in the crypto space, spawned after an initial exchange offering (IEO) by Bitfinex that ran until June 10. According to the claims of Bitfinex, the exchange raised $1 billion from private placements. Conveniently placed, the IEO in effect offset the $900 million debt to Tether, Inc.
-
Anchorage, one of the 28 Libra Association founding members, will allow organizations developing products and services on Telegram’s blockchain-based Telegram Open Network platform, to store their gram online currency securely when it launches next month.
-
A WIRED analysis finds that 15 of the 27 founding members of the Libra Association are directly or indirectly tied to Facebook. The total includes members that employ former Facebook executives, members whose boards include Facebook board members, and numerous ties through common investors.
-
CoinFLEX is offering physically-settled futures that will deliver Libra tokens if the so-called stablecoin is live by Dec. 30, 2020, or the settlement date. If Libra is not operational by then, investors will receive nothing and will have lost their initial investment.
-
Bitfinex in conjunction with EOSFinex, its decentralized trading platform, have announced that they had successfully completed a “chainswap” to convert $5 million worth of Tether stablecoins onto the EOS blockchain protocol.
-
“Decentralized finance (known as DeFi, for short) essentially involves a brand-new monetary system being built on public blockchains.”
-
Here is a quick survey of the SDR and the many appearances it makes in modern life. The SDR is a fairly minor currency, but it is surprising to see some of the economic nooks and crannies where it is being used.
-
John McAfee has launched a decentralized exchange (DEX) running on the Ethereum (ETH) blockchain.
-
Hong Kong’ Securities and Futures Commission published a new set of rules for crypto-asset fund managers. They include guidelines on how funds should be structured, risk management, custodianship, record-keeping, asset segregation, and other legal and logistical matters.
-
“MakerDAO and DeFi more generally are helping to provide an answer to the question that hangs over crypto. After the bubble, then crash, of 2017 and 2018, it’s natural to ask, ‘What do we use this stuff for?’ DeFi is the first legitimate answer to the question. DeFi is starting to have its moment because it’s the next chapter for crypto.”
-
This is a nice capsule summary of the existing stablecoin landscape, although bizarrely it doesn’t include USDC which is #2 by market cap.
