đ MARKET MOVING NEWS! (19/11/24)
1ïžâŁ Kraken, Tether-Backed Dutch Firm Rolls Out MiCA-Compliant Euro, U.S. Dollar Stablecoins đ
Netherlands-based fintech firm Quantoz has announced the launch of two regulatory-compliant stablecoins pegged to the euro (EURQ) and U.S. dollar (USDQ) on the Ethereum blockchain. The firm claims that it is regulated and licensed by the Dutch Central Bank as an Electronic Money Institution, and that the stablecoins are fully backed by fiat and "highly liquid financial instruments" like government bonds. Notably, Quantoz has secured investments from venture capital firm Fabric Ventures, crypto exchange Kraken and stablecoin behemoth Tether.
2ïžâŁ Crypto Lender Polter Finance Halts Operations After $12M Hack đ„
DeFi lending and borrowing platform Polter Finance has reportedly paused its operations and involved law enforcement after a hack drained $12 million worth of assets on the Fantom blockchain deposited in the platform. According to Web3 security firm TenArmor, the hacker executed a flash loan attack on its newly launched SpookySwap (BOO) market. The protocol investigated the stolen funds and traced them to wallets on the crypto exchange Binance.
3ïžâŁ Goldman Sachs Prepares To Spinout Digital Assets Business đ
According to a Bloomberg report, investment banking giant Goldman Sachs is speaking with potential partners about spinning out its digital-assets platform into a new company focused on creating and trading financial instruments on blockchain networks. Tradeweb Markets, an electronic trading platform, will reportedly be among the new entityâs strategic partners. The report also notes that Goldman Sachsâ long term goal is to execute the spin-out within the next 12 to 18 months, subject to regulatory approvals.
4ïžâŁ Heather 'Razzlekhan' Morgan Sentenced To 18 Months For Role in Bitfinex Heist đ
A federal courthouse in Washington, D.C. has reportedly sentenced Heather Morgan (aka "Razzlekhan") to 18 months in prison for her role in the Bitfinex crypto exchange hack. This follows Morgan's husband, Ilya "Dutch" Lichtensteinâs sentencing last week. Lichtenstein received a sentence of five years in prison for his role in the crime. Prosecutors reportedly recommended a shorter sentence than Lichtenstein's due to Morganâs smaller role in the money laundering conspiracy.
5ïžâŁ MicroStrategy Plans $1.75 Billion Convertible Notes Offering to Expand Bitcoin Holdings đž
Business intelligence firm MicroStrategy has announced plans to raise $1.75 billion from senior convertible notes at a 0% interest rate to buy more BTC for âgeneral corporate purposes.â The zero-interest senior notes will mature in 2029 and be offered to qualified institutional buyers. MicroStrategy could buy another 19,065 $BTC BTC at current prices if it were to spend the entire $1.75 billion on the asset.
6ïžâŁ Binance Clarifies 'Rewards-Bearing' BFUSD Asset Is Not a Stablecoin â
Crypto exchange Binance announced the upcoming launch of an asset named âBFUSDâ on Monday. Notably, many X users noted that the assetâs description resembled a high-yield stablecoin similar to Terraform Labâs failed algorithmic stablecoin. However, the 0crypto exchange has clarified that the asset, which will pay a 19.55% annual percentage yield, is not a stablecoin despite the "USD" suffix in its name.
It stated,
BFUSD is not yet launched. To be clear, it is not a stablecoin but a reward-bearing margin asset for futures trading.
PLEASE LIKE AND FOLLOW
