Top crypto tweets of the day – June 5th

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• Curve Finance founder $100M debt backed by over 400M CRV tokens – Reports

  TL;DR Breakdown Crypto research firm Delphi Digital published a Twitter thread that shed light on loans taken by Curve Finance founder Michael Egorov. Recognizing the dangers posed by the accumulated debts and the potential for a CRV token dump, Michael Egorov has already taken steps to lower the debt and utilization rate.  Some members have drawn comparisons to other notable figures, like FTX founder Sam Bankman-Fried, who have used tokens as collateral, while others view it as a potential black eye for the DeFi industry.  Description Curve Finance, a prominent decentralized finance (DeFi) protocol, is grappling with the aftermath of a recent $47 million hack. However, another pressing issue has surfaced, raising concerns among holders of the protocol’s native token, Curve DAO (CRV). On August 1, crypto research firm Delphi Digital published a Twitter thread that shed light on loans taken … Read more Curve Finance, a prominent decentralized finance (DeFi) protocol, is grappling with the aftermath of a recent $47 million hack. However, another pressing issue has surfaced, raising concerns among holders of the protocol’s native token, Curve DAO…

  Article 2023年8月1日

• Tanzania warns against foreign currency pricing

  TL;DR Breakdown The Bank of Tanzania has reaffirmed the ban on pricing commodities and services in foreign currencies. The bank plans to check destabilization Description The Bank of Tanzania (BOT) has issued a stern reminder that demanding or quoting prices in foreign currency is illegal in the country. According to the Bank of Tanzania Act 2006, individuals or businesses refusing to accept payment in Tanzanian shillings violate the law. In a press release issued recently, the central bank also emphasized … Read more The Bank of Tanzania (BOT) has issued a stern reminder that demanding or quoting prices in foreign currency is illegal in the country. According to the Bank of Tanzania Act 2006, individuals or businesses refusing to accept payment in Tanzanian shillings violate the law. In a press release issued recently, the central bank also emphasized that only commercial banks and Bureaux de Change are authorized to determine exchange rates. Tanzania prohibits foreign pricing This recent warning from the financial institution follows a previous directive issued just a month ago, which instructed authorized foreign exchange dealers in the…

  Article 2023年6月26日

• Treasury official proposes privacy feature for CBDCs

  TL;DR Breakdown A treasury official has proposed that CBDC should be developed with an element of privacy. Evaluating the implications of a private digital currency. The design of a potential digital dollar should take into account privacy and the ability to transact anonymously, according to a United States Treasury official. Graham Steele, the Assistant Secretary for Financial Institutions at the Treasury Department, emphasized this point during a recent conference focused on payments in Texas. He addressed the Federal Reserve’s FedNow system and central bank digital currencies (CBDCs), highlighting the challenges of minimizing illegal transactions while safeguarding user privacy. The treasury official discusses the importance of anonymity in CBDCs Steele emphasized the importance of preserving privacy and anonymity in the design of any potential retail CBDC. He suggested exploring technologies and methods, including Privacy Enhancing Technologies, that can enable such protections. Recognizing the potential benefits and risks of a CBDC, the treasury official mentioned that it could foster a competitive payment environment. However, he also cautioned that a retail CBDC, directly backed by the Fed, could serve as a safer option…

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• Hong Kong enlists HSBC, Visa, and more to test digital currency

  TL;DR Breakdown Hong Kong has begun testing a digital version of its currency, e-HKD, enlisting 16 firms, including HSBC, Bank of China Ltd., Alipay, and Visa for a pilot program. The trial focuses on exploring potential uses of the e-HKD in six key areas, including offline payments. Hong Kong has taken a step towards digital currency innovation with the launch of a pilot program to test an electronic version of the Hong Kong dollar, the e-HKD. The city has enlisted 16 firms, including banking giant HSBC Holdings Plc, the local branch of Bank of China Ltd., Alipay, a leading e-payment provider, and multinational financial corporation Visa Inc. This initiative underscores the metropolis’s increasing focus on cementing its reputation as a global fintech hub. Key players and prospective use cases The initiative draws upon a range of industry leaders in finance and technology. These entities have committed to investigating the viability and application of the e-HKD across various economic sectors. One of the key areas of interest is the possibility of using digital currency for offline payments, a move that could…

  Article 2023年5月20日

• European Union is looking to diversify partnerships and reduce dependency on China

  TL;DR Breakdown The European Union (EU) is trying to reduce its dependency on China, particularly in strategic sectors, without intending to sever its overall relationship. The EU-China “High-Level Economic and Trade Dialogue” is ongoing, covering macroeconomics, trade issues, supply chains, and financial services. The EU is addressing various barriers to market access that contribute to its trade deficit with China. Description Tensions between the European Union (EU) and China have risen recently, partly due to China’s alignment with Russia following the conflict in Ukraine and the EU’s efforts to diversify its economic partnerships. The EU has hence been working to reduce its dependency on China in various sectors while expressing concerns about human rights issues and … Read more Tensions between the European Union (EU) and China have risen recently, partly due to China’s alignment with Russia following the conflict in Ukraine and the EU’s efforts to diversify its economic partnerships. The EU has hence been working to reduce its dependency on China in various sectors while expressing concerns about human rights issues and market access barriers in China. Valdis…

  Article 2023年9月24日