Tether, the world’s largest stablecoin, has slashed back its commercial paper holdings to zero, replacing them with U.S. Treasury bills instead, according to a blog post. CNBC reports: The popular U.S.-dollar-pegged cryptocurrency said the move is part of tether’s “ongoing efforts to increase transparency” and back its tokens with “the Read more…
Google said Tuesday that it will rely on Coinbase to start letting some customers pay for cloud services with cryptocurrencies early in 2023, while Coinbase said it would draw on Google’s cloud infrastructure. The deal, announced at Google’s Cloud Next conference, might succeed in luring cutting-edge companies to Google in Read more…
Crypto lender Celsius’ top three executives withdrew $42.13 million in cryptocurrency between May and June 2022, right before the company suspended withdrawals and filed for bankruptcy, new court records show. According to a Statement of Financial Affairs filed late Wednesday, former CEO Alex Mashinsky, former CSO Daniel Leon and CTO Read more…
Federal Reserve Chairman Jerome Powell ramped up his criticism of decentralized finance on Tuesday, saying the monetary policy normalization worldwide has “revealed significant structural issues in the DeFi ecosystem” and exposed “conflict of interest,” as he called for more appropriate regulation. “Within the DeFi ecosystem, there are these very significant Read more…
Helium was touted as the best real-world use case of Web3 technology. But as it struggles to generate revenue, a Forbes investigation found that executives and their friends quietly hoarded the majority of wealth at the project’s inception. A review of hundreds of leaked internal documents, transaction data and interviews Read more…
Interpol has issued a red notice for Do Kwon, requesting law enforcement agencies worldwide to search and arrest the Terraform Labs founder whose blockchain startup collapsed earlier this year. The collapse of Terra cryptocurrency (Luna) and the so-called stablecoin TerraUSD (UST) wiped out investors’ $40 billion, prompting an uproar that Read more…
The Biden administration is moving one step closer to developing a central bank digital currency, known as the digital dollar, saying it would help reinforce the U.S. role as a leader in the world financial system. The White House said on Friday that after President Joe Biden issued an executive Read more…