TL;DR Breakdown Ripple Labs Chairman Chris Larsen has blamed Biden’s crypto policy on the dent in the crypto industry. Impact of the policy on the general crypto market. Description The United States’ legal system is poised to play a pivotal role in revitalizing the cryptocurrency industry, which some believe has been hampered by the Biden administration’s crypto policy. Chris Larsen, chair and co-founder of Ripple Labs, expressed his views during an interview with Bloomberg on September 7. He argued that recent developments in the … Read more The United States’ legal system is poised to play a pivotal role in revitalizing the cryptocurrency industry, which some believe has been hampered by the Biden administration’s crypto policy. Chris Larsen, chair and co-founder of Ripple Labs, expressed his views during an interview with Bloomberg on September 7. He argued that recent developments in the legal sphere indicate a path towards clarity for the crypto industry. Larsen emphasized that Ripple’s partial victory over the U.S. Securities and Exchange Commission (SEC) in July marked a significant turning point. Ripple Labs chair confident of a…

Description The decentralized financial world thrives on transparency, adaptability, and the fearless challenge of established norms. And guess who’s been at the epicenter of this financial maelstrom in 2023? dYdX. Their latest semi-annual ecosystem report is a testament to their relentless drive, a window into the dynamics of their platform, and, to put it bluntly, it’s … Read more The decentralized financial world thrives on transparency, adaptability, and the fearless challenge of established norms. And guess who’s been at the epicenter of this financial maelstrom in 2023? dYdX. Their latest semi-annual ecosystem report is a testament to their relentless drive, a window into the dynamics of their platform, and, to put it bluntly, it’s one of the year’s essential reads. Let me walk you through it. The dYdX Journey: Pioneering Against Odds This year, dYdX’s journey has been nothing short of stellar. Amidst market fluctuations and an ever-changing crypto landscape, dYdX proved their mettle by reaching significant milestones. Their report, shedding light on their ecosystem, reveals a resilient platform weathering stormy seas. From the evolution of the $DYDX token to…

TL;DR Breakdown The FASB has agreed to implement changes to how crypto holdings are being disclosed. Impact on corporations and the wider crypto ecosystem. Description The Financial Accounting Standards Board (FASB) has unanimously voted to implement changes in how companies account for and disclose their holdings of cryptocurrencies like Bitcoin and other digital assets. These new rules are set to take effect starting in 2025, with the primary goal of providing investors and financial statement users with greater transparency concerning … Read more The Financial Accounting Standards Board (FASB) has unanimously voted to implement changes in how companies account for and disclose their holdings of cryptocurrencies like Bitcoin and other digital assets. These new rules are set to take effect starting in 2025, with the primary goal of providing investors and financial statement users with greater transparency concerning these volatile assets. The FASB is recognized by the SEC as the accounting standard setter for public companies. FASB Chair announces the significance of the decision FASB Chairman Richard Jones expressed the significance of this decision, stating that the issue has attracted…

TL;DR Breakdown Jay Hunter Anson, director of Palau’s Digital Residency Office, announced the sudden halt of the Palau Stablecoin pilot program. Palau had partnered with Ripple to launch the stablecoin on Ripple’s Central Bank Digital Currency Platform. Anson did not disclose specific reasons for the halt but mentioned a forthcoming survey for participants. Description Jay Hunter Anson, the director of the Digital Residency Office in Palau’s Ministry of Finance, announced the abrupt halt of the Ripple (XRP)-based Palau Stablecoin (PSC) pilot program. Known locally as “Kluk” for its bird insignia, the program aimed to offer a fee-free, secure, and transparent payment option for Palau residents. The U.S. Dollar backed … Read more Jay Hunter Anson, the director of the Digital Residency Office in Palau’s Ministry of Finance, announced the abrupt halt of the Ripple (XRP)-based Palau Stablecoin (PSC) pilot program. Known locally as “Kluk” for its bird insignia, the program aimed to offer a fee-free, secure, and transparent payment option for Palau residents. The U.S. Dollar backed the stablecoin, and has generated significant buzz since its launch in July 2023….

Description DFINITY Foundation, the not-for-profit organisation behind the development of Internet Computer blockchain, has entered a partnership with the municipality of Lugano, Switzerland, in line with the city’s plans to encourage blockchain development and ultimately become a regional crypto hub.  The Foundation is also launching a $1 million grant fund to encourage Lugano-based startups and developers. … Read more DFINITY Foundation, the not-for-profit organisation behind the development of Internet Computer blockchain, has entered a partnership with the municipality of Lugano, Switzerland, in line with the city’s plans to encourage blockchain development and ultimately become a regional crypto hub.  The Foundation is also launching a $1 million grant fund to encourage Lugano-based startups and developers. Per the announcement, the grant will be issued to developers leveraging the unique capabilities of the Internet Computer to build services that serve the global community. I am delighted to announce that the DFINITY Foundation has partnered with the Municipality of Lugano to award grants to Lugano-based blockchain companies. We are proud to support our local developer community, and this partnership is a major step forward…

TL;DR Breakdown The Bangko Sentral ng Pilipinas (BSP) has chosen Hyperledger Fabric as the Distributed Ledger Technology (DLT) for its wholesale CBDC pilot. The BSP’s decision to utilize DLT is based on its ability to record, share, and synchronize data and transactions across a distributed network. Governor Eli Remolona, Jr. highlighted the BSP’s dedication to using Project Agila’s insights to refine their wholesale CBDC implementation approach. Description The Philippines central bank, Bangko Sentral ng Pilipinas (BSP), revealed today that it has chosen Hyperledger Fabric as the Distributed Ledger Technology (DLT) for its wholesale Central Bank Digital Currency (CBDC) pilot, known as Project Agila. Initially referred to as Project CBDCPh, Project Agila is designed to educate the BSP and collaborating financial institutions about … Read more The Philippines central bank, Bangko Sentral ng Pilipinas (BSP), revealed today that it has chosen Hyperledger Fabric as the Distributed Ledger Technology (DLT) for its wholesale Central Bank Digital Currency (CBDC) pilot, known as Project Agila. Initially referred to as Project CBDCPh, Project Agila is designed to educate the BSP and collaborating financial institutions about…

TL;DR Breakdown The eurozone’s GDP grew by a mere 0.1% in Q2, falling short of earlier projections. The eurozone performance was notably impacted by a stagnant Germany, traditionally a robust economic powerhouse. Economists are warning of potential stagnation or even recession in the eurozone, with recent data indicating a contraction in output by 0.5% in the July-September period. Description The eurozone economy saw minimal growth in the year’s second quarter, falling short of earlier projections due to stagnant domestic consumption and weakened exports. Official data from the European Union’s statistics agency, Eurostat, revealed that the bloc’s gross domestic product (GDP) only expanded by 0.1% from April to June. Initial estimates had indicated a growth … Read more The eurozone economy saw minimal growth in the year’s second quarter, falling short of earlier projections due to stagnant domestic consumption and weakened exports. Official data from the European Union’s statistics agency, Eurostat, revealed that the bloc’s gross domestic product (GDP) only expanded by 0.1% from April to June. Initial estimates had indicated a growth of 0.3%, and economists surveyed had expected it…

TL;DR Breakdown RippleX reveals rippled 1.12.0, the latest XRPL upgrade, featuring two key features—XLS-30 and XLS-39. The AMM feature is expected to simplify digital asset trading and extend the reach of developers into the DeFi sector. Both features are currently in the voting phase, requiring at least 80% approval from the XRPL validator community for two weeks to be implemented. Description In a recent forum on X, RippleX, Ripple‘s development arm, announced the latest upgrade to the XRP Ledger (XRPL). Dubbed rippled 1.12.0, this update introduces two key features—XLS-30 and XLS-39. Currently, these features are in the voting phase for integration into the XRPL core protocol. If approved, they will make their debut on the XRPL … Read more In a recent forum on X, RippleX, Ripple‘s development arm, announced the latest upgrade to the XRP Ledger (XRPL). Dubbed rippled 1.12.0, this update introduces two key features—XLS-30 and XLS-39. Currently, these features are in the voting phase for integration into the XRPL core protocol. If approved, they will make their debut on the XRPL Mainnet. XLS-30: Native Automated Market Maker…

TL;DR Breakdown AllianceBlock has launched Arkefi, a real-world asset (RWA) investment platform on the Avalanche ecosystem, aiming to democratize access to high-value assets like exclusive art, luxury cars, and collectibles. Arkefi leverages blockchain technology to enable fractional ownership, allowing High-Net-Worth Individuals (HNWIs) to unlock liquidity for traditionally illiquid assets. The platform’s inaugural luxury collectible investment features globally acclaimed artist Danh Võ. The platform plans to integrate various upgrades, including identity management and compliance solutions, and expand its offerings to other high-value asset classes, setting a new standard for tokenizing RWAs. Description AllianceBlock, a leading infrastructure provider for decentralized tokenized markets, has launched Arkefi on the Avalanche ecosystem in a move that promises to redefine the landscape of high-value asset investments. This real-world asset (RWA) investment platform, backed by the art investment company ARTBANX, aims to democratize access to exclusive art, luxury cars, and collectibles. Arkefi’s launch … Read more AllianceBlock, a leading infrastructure provider for decentralized tokenized markets, has launched Arkefi on the Avalanche ecosystem in a move that promises to redefine the landscape of high-value asset investments. This real-world…

TL;DR Breakdown Bank of England Governor Andrew Bailey has stated that the UK is close to the peak of the current interest rate hike cycle. Bailey’s remarks have raised doubts about the likelihood of a November rate increase after the anticipated hike in September. There is reduced optimism about the Pound’s performance, particularly compared to the Euro and the US dollar. Description The British Pound faced a challenging day, worsened by Bank of England Governor Andrew Bailey’s assertion that the conclusion of the interest rate hike phase was imminent. During his appearance before members of Parliament, Bailey emphasized that the Bank of England was now much nearer to the top of the cycle, indicating his belief that … Read more The British Pound faced a challenging day, worsened by Bank of England Governor Andrew Bailey’s assertion that the conclusion of the interest rate hike phase was imminent. During his appearance before members of Parliament, Bailey emphasized that the Bank of England was now much nearer to the top of the cycle, indicating his belief that the peak in interest rates…