Financial Industry News
Lending platform Celsius Network has teamed up with an oracle provider to make the price feeds it uses to calculate crypto asset interest rates less centralized. Announced Monday, Celsius has subscribed to Chainlink, which connects smart contracts with real world data, as a middle pathway to decentralization, said Chainlink CEO Serey Nazarov in a telephone […]
Continue ReadingAn investor document obtained by CoinDesk charts the dramatic ups and downs of the first four years of Polychain Capital’s cryptocurrency hedge fund, offering an exhaustive look at the performance of one of the sector’s top investment firms. Yearly returns jumped from a 2.7 percent loss in 2016 to a 2,278.8 percent gain in 2017, […]
Continue ReadingCoronavirus might be the biggest story of the decade, but climate change will be the grand narrative of the century. As energy of any kind becomes of premium value to the planet, and the world’s transport systems come onto the electric grid, how will notoriously energy-hungry processes like bitcoin fare? In financial services, environmental, social […]
Continue ReadingRiot Blockchain is worried that COVID-19 may “seriously disrupt” its bitcoin mining operations. The Nasdaq-listed rig builder revealed its concerns in its annual 10-K report with the Securities and Exchange Commission, filed Wednesday. Such reports always include a “general risks” section detailing worst-case business scenarios. This year, Riot added two pandemic-specific subsections to discuss COVID-19. […]
Continue ReadingThe Breitling Top Time, pictured above, was a hand-wound chronograph from the 1960s popular with the Jet Set of the era. James Bond wore it in “Thunderball,” although his featured a miniature Geiger counter. The company has rereleased the watch, black and white “panda” face and all, to a new generation and it’s doing something […]
Continue ReadingIs a cash-based society sustainable in the age of coronavirus? Hoarders say yes, health experts say maybe and the visionaries say no: COVID-19 is the catalyst for systemic payments change. This wrecking ball of a virus stands to change the way consumers, and businesses, think about their use of physical currency. In many countries, cash […]
Continue ReadingProminent backers have joined a $3 million funding round for Mumbai-based exchange CoinDCX just weeks after a banking ban for cryptocurrency businesses was overturned. CoinDCX said Tuesday that investment firms Bain Capital and Polychain Capital, as well as BitMEX-owner HDR Global Trading, were among those that participated in the Series A round. Funding in hand, […]
Continue ReadingAVA Labs, the first project building on the “Avalanche protocol” blockchain network, is looking to modernize financial infrastructure. As first envisioned in a 2018 white paper by the pseudonymous “Team Rocket,” Avalanche protocol uses random network sampling to reach consensus. But it is AVA Labs’ ambition in building new infrastructure for the financial markets which […]
Continue ReadingPreston Byrne, a columnist for CoinDesk’s Opinion section, is a partner in Anderson Kill’s Technology, Media and Distributed Systems Group. He advises software, internet and fintech companies. His biweekly column, “Not Legal Advice,” is a roundup of pertinent legal topics in the crypto space. It is most definitely not legal advice. In my last column […]
Continue ReadingSpencer Dinwiddie, the Brooklyn Nets guard who launched his own tokenization platform, has launched an interest-bearing stablecoin service in partnership with crypto lending firm Cred. The new service launched Friday on Dinwiddie’s personal website. There, visitors can “pledge” TrueUSD and UPUSD stablecoins, as well as bitcoin, litecoin and ether, earning up to 10 percent interest […]
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