Kiffmeister’s #Fintech Daily Digest (20220314)

Proposal Limiting Proof-of-Work Is Rejected in EU Parliament Committee Vote

The EU parliament’s economic and monetary affairs committee rejected a provision in the draft of the proposed Markets in Crypto Assets (MiCA) framework that looked to limit the use of cryptocurrencies powered by proof-of-work protocols like Bitcoin.  [Read more]

Hedge Fund Fir Tree Bets Big With Short of Stablecoin Tether

Fir Tree Capital Management, a $4 billion hedge fund, is making a substantial 12-month short wager on Tether. Its thesis against Tether centers around the coin’s roughly $24 billion in high-yield commercial paper, much of it the firm believes is tied to Chinese real estate developers. [Read more]