FTX Recovery Trust to unlock $1.6B for creditors in September disbursement
The distribution marks the third payout to creditors of the former exchange as it continues dispensing up to $16.5 billion in funds. The FTX Recovery Trust, the entity overseeing the distribution of funds from the bankrupt crypto exchange, announced a third tranche of distributions to creditors, worth about $1.6 billion. According to a Friday announcement
Bank of Canada: Implement stablecoin regulatory framework or 'get run over'
Ron Morrow, head of payments at Canada’s central bank, called on regulators to pass a framework for stablecoins or be left behind. Canada’s central bank is calling for the country to establish a stablecoin regulatory framework to modernize the payment system and avoid falling behind other countries that are moving forward with such policies. “Even
Federal Reserve expected to slash rates today, here's how it may impact crypto
The Federal Reserve, the central bank of the United States, is expected to begin slashing interest rates on Wednesday, with analysts expecting a 25 basis point (bps) cut and a boost to risk asset prices in the long term. Crypto prices are strongly correlated with liquidity cycles, Coin Bureau founder and market analyst Nic Puckrin
Ethereum Foundation introduces 'Privacy Stewards for Ethereum' and roadmap
The privacy roadmap included adding features for private transactions and decentralized identity solutions across Ethereum’s tech stack. The Ethereum Foundation has released a roadmap to bring end-to-end privacy features to the Ethereum network, a layer-1 (L1) smart contract blockchain, and rebranded its “Privacy & Scaling Explorations” initiative to “Privacy Stewards of Ethereum” (PSE). PSE said
The ‘endgame’ for US dollar stablecoins is no tickers — Web3 exec
US dollar-pegged Stablecoins have become commoditized, diminishing the need for individual price tickers from the viewpoint of crypto users. Dollar-pegged stablecoins will eventually lose their price tickers, as exchanges abstract away the differently denominated stable tokens on the backend, presenting only a “USD” option to the user, according to Mert Mumtaz, CEO of remote procedure
Onchain collateral could get you better loan terms — Crypto bank exec
The 24/7 nature of onchain markets makes spot crypto collateral preferable to lenders than crypto held in investment vehicles like ETFs. Fabian Dori, the chief investment officer at digital asset bank Sygnum, says that banks offering crypto-backed loans prefer crypto collateral in the form of onchain assets rather than exchange-traded funds (ETFs), and using onchain
Blockstream sounds the alarm on new email phishing campaign
The scam is designed to look like a Blockstream Jade hardware wallet firmware update, and links to a malicious site. Blockstream, an infrastructure and hardware wallet provider, issued a warning about a new email phishing campaign attempting to target Blockstream Jade hardware wallet users. The company confirmed on Friday that it never sends firmware files