Singapore Exchange (SGX) reported financial results for H1 FY21 today as revenue and net profit spiked in the last half, compared to the same period in 2020. The exchange recorded S$521 million revenue in H1 FY21, a 9% year-on-year jump. According to the official press release, the net profit of SGX jumped 7% in H1 FY21 to reach S$228 million. […]

The first Aave-friendly Ethereum to Matic bridge has opened for business, allowing users to port Aave’s interest-bearing aTokens back and forth between the DeFi protocol and the faster, cheaper layer-two network. The bridge was developed and launched by Nick Mudge, Lead Solidity Developer of Aavegotchi. It differs from previous Ethereum to layer-two bridges as it interacts with the Aave protocol […]

The Securities and Exchange Commission of Thailand (SEC) issued an order against a local cryptocurrency exchange to temporarily stop its operations. Bitkub has been in the headlines since the start of the year due to several outages suffered in their systems. Crypto Exchange Suffered Three Massive Outages Since the Beginning of 2021 According to Bangkok Post, the financial watchdog gave […]

New U.S. President Joe Biden has frozen all agency rulemaking, including the proposal by the Financial Crimes Enforcement Network (FinCEN) relating to cryptocurrency wallets. Biden will appoint someone to “review any new or pending rules,” the White House has announced. FinCEN’s Crypto Wallet Proposal Frozen, Pending Regulatory Review Joe Biden, the 46th president of the United States, has frozen all […]

Despite rapid advancement of a digital yuan, China’s progress in internationalizing its currency has stalled out in recent months.  Per data from SWIFT’s RMB Tracker released on Jan. 20, the Chinese yuan (CNY), also known as the Renminbi (RMB) had gained only .02% in international usage between December 2018 and last month. Meanwhile, it had fallen from 1.26% to 1.16% […]

Active decentralized finance (DeFi) users woke up yesterday to yet another “airdrop” of governance tokens, this time courtesy of self-described “multi-service platform” Stake DAO — but, due to the unique distribution method and some bugs in the rollout, eligible users might want to claim their tokens sooner rather than later.  In an introductory post to the project, Stake DAO laid […]

According to a statement by Guo Weimin, Bank of China’s chief scientist, the economic turmoil caused by the pandemic is one of the reasons why Chinese corporations should urgently shift to the use of digital currencies, stating: “There will be a lot of challenges from the pandemic that will make good cases for the use of digital currencies.” Guo: Better […]

The Bitcoin (BTC) bull market has put the flagship cryptocurrency on par with cyclical assets as opposed to a hedge against market stress, according to analysts at JPMorgan Chase.  JPMorgan strategists John Normand and Federico Manicardi say anyone betting on Bitcoin as a portfolio diversifier is putting themselves at risk. In a Thursday report obtained by Bloomberg, the strategists called […]

Bitcoin (BTC/USD) extended recent losses early in today’s North American session as the pair weakened to the 30800 area after trading as high as the 35679.45 area during the Asian session, a test of the 23.6% retracement of the depreciating range from 40127.66 to 34298.83, and the 61.8% retracement of the appreciating range from 34341.77 to 37810.    Traders took BTC/USD […]