Tether ceases USDT support for Bitcoin, Kusama, and Bitcoin Cash blockchains

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• Circle CEO urges Beijing to embrace Yuan-backed stablecoins for global currency expansion

  TL;DR Breakdown Circle CEO Jeremy Allaire suggests that Chinese Yuan (CNY)-backed stablecoins could be a more effective tool for internationalizing the currency than central bank digital currencies (CBDCs). While China’s economic policy and capital controls pose obstacles, experts believe there may be incremental moves to increase the use of the yuan in trade, but radical changes are unlikely. Hong Kong is taking steps to regulate stablecoins, with the Hong Kong Monetary Authority (HKMA) planning to introduce regulations by 2024, aiming to become a global virtual asset hub. Description In a recent interview with the South China Morning Post, Circle CEO Jeremy Allaire advocated for introducing Chinese Yuan (CNY)-backed stablecoins to facilitate the currency’s internationalization. Allaire argued that stablecoins could be a more effective means than central bank digital currencies (CBDCs) to achieve this goal. While acknowledging the complimentary nature of stablecoins and CBDCs, … Read more In a recent interview with the South China Morning Post, Circle CEO Jeremy Allaire advocated for introducing Chinese Yuan (CNY)-backed stablecoins to facilitate the currency’s internationalization. Allaire argued that stablecoins could be a more…

  Article 2023年7月12日

• North Korean hackers loot over $200 million in crypto in 2023, totaling $2 billion in five years: Report

  TL;DR Breakdown North Korean hackers stole over $200 million in crypto in 2023, part of $2 billion looted in five years, mainly targeting DeFi protocols. Hackers have evolved laundering techniques, using complex methods like chain-hopping to evade sanctions. Description Hackers linked to North Korea have stolen over $200 million in cryptocurrency so far in 2023, accounting for 20% of all stolen crypto this year, according to a report by blockchain intelligence firm TRM Labs. The theft is part of over $2 billion looted by cybercriminals in the last five years, with 30 different crypto-project … Read more Hackers linked to North Korea have stolen over $200 million in cryptocurrency so far in 2023, accounting for 20% of all stolen crypto this year, according to a report by blockchain intelligence firm TRM Labs. Source: TRM Labs The theft is part of over $2 billion looted by cybercriminals in the last five years, with 30 different crypto-project attacks. Also, the majority of these exploits have focused on decentralized finance (DeFi), particularly targeting cross-chain bridges. Last year was the most successful year for…

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• ECB reveals its strategy with interest rate hikes

  TL;DR Breakdown The European Central Bank (ECB) is poised to raise interest rates again, but its future course beyond July remains unclear. A quarter percentage point increase to 3.75% is anticipated, as per market predictions. The possibility of a further rate hike post-July is increasingly uncertain; the ECB could turn more cautious in its signaling. Description The strategy of the European Central Bank (ECB) is coming into sharper focus as the institution is poised to elevate interest rates again this week. Amid this backdrop, the financial markets are keen on discerning the ECB’s course of action beyond July, a trajectory less clearly defined. For the past year, Eurozone interest rates have … Read more The strategy of the European Central Bank (ECB) is coming into sharper focus as the institution is poised to elevate interest rates again this week. Amid this backdrop, the financial markets are keen on discerning the ECB’s course of action beyond July, a trajectory less clearly defined. For the past year, Eurozone interest rates have climbed by a substantial 400 basis points to 3.5%, a level…

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• Unpacking SpaceX Bitcoin 2021-2022 sales worth $373M

  TL;DR Breakdown Elon Musk disclosed SpaceX’s Bitcoin holdings in 2021 following an SEC filing revealing Tesla’s intention to acquire $1.5 billion worth of the crypto. Crypto scams with detailed attention to SpaceX and Elon Musk surge flooding the crypto markets – Be weary. Elon Musk takes a keen look at Vitalik Buterin’s detailed tech report on “Community Notes.” Buterin endorsed X’s “Community Notes” feature emphasizing its relevance and relationship to “crypto values.” Description SpaceX reportedly sold Bitcoin worth approximately $373 million that it acquired beginning in 2021. According to a Wall Street Journal report published on August 17, SpaceX recorded Bitcoin holdings worth $373 million on its balance sheet in 2021 and 2022 but has since sold the cryptocurrency.  According to documents viewed by the news organization, the … Read more SpaceX reportedly sold Bitcoin worth approximately $373 million that it acquired beginning in 2021. According to a Wall Street Journal report published on August 17, SpaceX recorded Bitcoin holdings worth $373 million on its balance sheet in 2021 and 2022 but has since sold the cryptocurrency.  According to documents…

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• BRICS: Dollar dominance is safe — at least for now

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