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British online money transfer service TransferWise is partnering with Alipay to enable instant transfers to China using 17 currencies.
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The Riksbank is making a bid to host a BIS Innovation Hub, a new initiative by the “bank of central banks” that now wants to scatter the world with local financial innovation policy clearinghouses.
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Select Starbucks mobile app customers now have a payment choice of “Bakkt Cash” as Bakkt launched a limited test.
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Bakkt has raised an additional $300 million of capital with participation from investors including Intercontinental Exchange, Microsoft’s M12, PayU, Boston Consulting Group, Goldfinch Partners, CMT Digital, and Pantera Capital.
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Last week’s crash was a liquidity event, triggered by margin calls in crypto and other assets, and by a massive investor panic. This crash was about raising cash and covering liquidity. It had nothing to do with bitcoin itself.
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Bitcoin’s price crash last week has cast a shadow over mining firms, which have spent over half a billion dollars overhauling equipment over the last six months in preparation for the network’s next so-called halving.
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The volume of bitcoin inflows into all major exchanges before the crash surged at around block 621.2K–a full three days before the actual dump. One suggestion is that this could’ve been a coordinated whale movement that initiated the mass sell-off.
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Coinmetrics took a deep dive into on-chain and market data to analyze the aftermath of the recent historic crypto crash. On-chain data shows that it was likely mostly driven by shorter-term and relatively new holders. Long term holders appear unfazed.tags: Fintech CryptoAssets
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“Even though this particular crisis could not have been foreseen, there are steps that the Maker team could have taken to prepare for these unknown unknowns. This situation, while still actively developing, highlights that those teams who design DeFi networks cannot treat economic and governance design as “optional future TBDs.” They must proactively consider all possible (covarying) risks, assuming that users will behave in their own best interests, and make it a priority to implement governance systems that are robust to these sorts of crises.”