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Some companies in Venezuela are using the stablecoin tether as a way of sidestepping sanctions and settling payments with foreign customers and providers. Local reports indicate that, while the most popular use case for the stablecoin involves its purchase for devaluation shielding purposes, a handful of companies are also harnessing
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The price of Ethereum's native token, Ether (ETH), has surged by more than 40% year-to-date to around $1,750, the highest level in seven months. However, ETH price is not out of the woods yet despite several bullish cues such as the Shanghai upgrade in the pipeline. Ethereum price bull trap?Ether's rise has
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As we’ve seen the number of DeFi users stagnate, and its total value locked decline, it is clear that widespread popular adoption isn’t happening on its own. Without a fundamental raison d'etre, DeFi looks less like a financial revolution and more like a pyramid scheme. To build lasting value, DeFi
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The host of Mad Money, Jim Cramer, has advised investors to avoid crypto and stick with gold if they “seriously want a real hedge against inflation or economic chaos.” He added that bitcoin is too volatile to use as a currency. “Imagine business owners trying to conduct transactions with shares
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However, the court has objected to the BlockFi request noting that every penny used to pay employees denies the creditors their right to be reimbursed.Distressed cryptocurrency lender BlockFi has filed with the bankruptcy court in the District of New Jersey wanting to get bonuses approval for retaining experienced employees. According
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An International Monetary Fund (IMF) division chief and deputy managing director are calling for more action to be taken in the regulatory aspect to avoid crypto’s ups and downs affecting banks and traditional financial institutions. Nobuyasu Sugimoto, deputy division chief of the financial supervision and regulation division of the IMF,
Read MoreCrypto startup investor and IDEO Managing Director Ian Lee has revealed how DeFi protocols can avoid being cloned and drained of liquidity by improving upon their design and governance from the start. When SushiSwap forked from Uniswap on Friday, August 28, it suggested the beginning of a wave of similarly cloned
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