Shift to DeFi “Wishful Thinking:” True Value of Blockchain is Elsewhere

A pseudonymous crypto analyst is bullish on Bitcoin BTC/USD, predicting it should reach a stark target of $1.3 million by December. What Happened: Pentoshi told his 670,000 followers on Twitter, “I got to this number by using the January gain average of 42% monthly.”. The analyst added: “will be...

Creditspring is reporting an increase in demand which they are attributing to the rapid increase in the cost of living, which is expected to continue in 2023. Creditsrping said that during the last 12 months, 260,000 borrowers sought credit on the platform, with “members” increasing by 100,000 in the last 12 months.

Injective, a blockchain specifically designed for building financial applications, announced a new $150 million ecosystem initiative “to further accelerate the adoption of interoperable infrastructure and DeFi.”. Injective claims it is the first fully decentralized smart contracts platform “optimized for building finance applications.” Injective was “created using the Cosmos SDK...

The Dow Jones closed higher by 200 points on Thursday. When insiders purchase or sell shares, it indicates their confidence or concern around the company's prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision. Below is a look at...

The New York State Department of Financial Services (NYDFS) has issued updated guidance for firms engaged in the crypt or “virtual asset” sector. NYDFS created a path for regulating digital asset firms fairly early on in the emergence of crypto. The announcement issued yesterday aims to provide guidance that protects consumers in the case of insolvency.

BIGG Digital Assets Inc. (CSE: BIGG), owner of Netcoins, the online cryptocurrency brokerage that makes it easy for North Americans to buy, sell, and understand cryptocurrency, and Blockchain Intelligence Group, a developer of blockchain technology search, risk-scoring and data analytics solutions, is pleased “to report that Netcoins will be expanding its USA footprint on February 1st, launching in Colorado, Kentucky, Kansas and Utah.”

Eventus, a global provider of multi-asset class trade surveillance and market risk solutions, announced today that cryptocurrency derivatives exchange Deribit has “selected the firm’s Validus platform to provide market abuse monitoring on the exchange.”. Headquartered in Panama City, Panama, Deribit claims it is among the largest cryptocurrency options...

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Milestone Group, the global provider of Oversight and Backup NAV solutions to the investment management industry, has announced that the UK’s largest independent Authorised Corporate Director (ACD), Link Fund Solutions, will “adopt its pControl™ Oversight platform.”:. pControl™ Oversight will “allow Link Fund Solutions (LFS) to independently...

The team at ThinCats are pleased to announce that they provided £302 million of funding to businesses in 2022. In total, ThinCats has “lent more than £1.3bn to businesses across the UK while assets under management stand at a record £675m.”. Despite a challenging economic backdrop,...

Digital wealth manager Moneyfarm announced that it has appointed Dame Jayne-Anne Gadhia as Chair. Dame Jayne-Anne Gadhia, DBE, CVO, FRSE, “brings considerable experience to the role. She is the Founder and Executive Chair of fintech Snoop and was the CEO of Virgin Money from 2007 to 2018, leading the company to IPO.”

Nubank (NYSE: NU) has launched a new functionality that allows customers to view, within the Nu application, the balance of all their bank accounts linked to Open Finance. The tool is still “in the testing phase, and will initially be offered to 300,000 customers that are part of NuCommunity.” It will be gradually “released to the entire user base of the institution in this first quarter.”

SCRYPT Digital, the Swiss-regulated company offering a single point of access into digital assets for institutions, has been chosen by Kiln, the tech provider behind the first enterprise-grade liquid staking protocol, in order “to provide a seamless on/off-ramping service for its treasury.”. The partnership will allow Kiln “to convert...

The French Autorité des Marchés Financiers (AMF) has posted a comment on its website commenting on investment crowdfunding. The AMF notes to change to online capital formation under EU harmonized rules or European Crowdfunding Service Providers Regulation (ECSPR). The AMF explains:. Crowdfunding: a regime undergoing transition. Crowdfunding, initially...

Decentralized finance (DeFi) builds on distributed ledger technologies (DLT) “to offer services such as trading, lending and investing without using a traditional centralized intermediary,” according to finding shared by the Bank for International Settlements (BIS). The fact that DeFi components can be programmed “may open up new possibilities...

Smart Pension, which claims to be one of the UK’s leading workplace pension providers, announces the launch of three new fully sustainable lifestyle strategies “with different growth fund options: the Smart Sustainable Growth Core Fund, Smart Sustainable Growth Fund (the Smart Pension default fund) and Smart Sustainable Growth Plus Fund.”

Traders have returned back to their cautious ways following the week’s strong run-up amid hopes of a soft landing and earnings optimism. The index futures are pointing to a modestly lower opening on Friday. Cues From Thursday’s Trading:. On Thursday, the major averages closed with noteworthy gains as...

One of the oldest types of commercial financing is now on-chain. Managed by AQRU, a subsidiary of listed firm AQRU plc, the receivables financing pool launches with Intero Capital Solutions LLC as the sole borrower. Uncorrelated with crypto markets and secured by the underlying receivables, the pool enables lenders “to...

Milo, a financial technology company that is reimagining the way crypto and global consumers access financial solutions, announced the launch of its new crypto loan product. This launch means that digital asset-holders will now have the opportunity “to use their cryptocurrency as collateral to access loans, ranging in value from USD $10K – $200K and larger on a case-by-case basis.”

Tranch, a buy now pay later (BNPL) platform for SaaS sellers and services providers, has raised $100 million in seed equity and debt funding “to bring payment flexibility to a wider pool of B2B customers.”. The investment round was “led by Soma Capital (New York-based backers of Deel, Razor...