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Ethereum ‘backbone’ of stablecoins despite price, MrBeast CEO says amid new crypto venture – DL News

Beast Industries plans to launch fintech products.More than half of all stablecoins exist on the Ethereum network.In January, Bitmine invested $200 million into Beast...

Jack Dorsey’s Block slashes 40% of staff in major AI-driven restructuring – DL News

Block cuts 4,000 jobs.CEO Jack Dorsey attributes layoffs to AI.Investors are fearful that AI will ultimately hurt the wider economy.Block, a firm that heavily...

Chinese courts turn up heat on crypto offenders – DL News

Chinese Supreme Court wants stricter punishments and clearer crypto laws.Judges say crypto-related crime is increasing in China.Beijing reinforces crypto crackdown after recent stablecoins ban.Chinese...

How South Korean police lost $1.4m worth of Bitcoin – DL News

22 Bitcoin vanished from a sealed police vault in central Seoul.Two men have been arrested, police say.Earlier this month, prosecutors tracked down $22 million...

Vitalik proposes ‘quantum roadmap’ for Ethereum – DL News

Vitalik Buterin proposed what he called a quantum roadmap on Thursday.He wants to update the cryptography that secures the blockchain.At least one change could...

Why Fluid devs want to give DAO ‘ultimate authority’ – DL News

The developers of DeFi protocol Fluid have proposed transferring all IP to a Caymand Islands foundation.The foundation's new director has requested a $250,000-per-month grant...

Strategy becomes the most shorted stock as Bitcoin price soars near $70,000 – DL News

Strategy has the highest short interest of any stock over $25 billion in market capitalisation.Short sellers are betting against 14% of the company's entire...

Revolut joins financial watchdog’s stablecoin sandbox as UK rushes to catch up to US – DL News

Revolut and three other firms are joining the FCA’s stablecoin sandbox.The regulator’s test environment will focus mostly on issuing stablecoins.The UK is ramping up...

Strategy stands alone as it comprises 99% of all Bitcoin treasury buying these days – DL News

Strategy comprised 99.2% of all Bitcoin buying last week.The treasury trade has dried up as Bitcoin suffers a debilitating price drop.In any case, over...

Stablecoins have another weakness – DL News

The Decentralised Major stablecoins will rely on US Treasury market intermediaries to hold their peg.Smart contract bugs are another vulnerability.The Genius Act doesn't account...

Crypto.com joins the club with bank charter approval. Here are the other firms it joins – DL News

Top crypto firms have received conditional approval to act like national trust banks.The banking lobby has expressed concerns over the process.Other crypto firms have...

Why SEC’s new stablecoin haircut will ‘open the floodgates’ for institutional finance – DL News

The GuidanceThe SEC clarified the liquidity buffer brokers need when handling stablecoins.It's a key change that will attract institutions to the sector.US Treasury Secretary...