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  • Jul 31, 2024

UK Central Bank, BIS Showcase Project for Monitoring Stablecoins

A joint effort by the Bank for International Settlements and the Bank of England has shown it can deliver near real-time data on stablecoins’ liabilities and the assets backing them. Dubbed Pyxtrial, the initiative could also extend to monitoring other tokenized products backed by real-world assets in an attempt to address major challenges for financial watchdogs, a report published on Wednesday reads. Pyxtrial includes features that allow authorities to pull data directly from issuers' systems...

  • Jul 31, 2024

Lummis Introduces Bitcoin Reserve Bill Aiming to Bolster US's Global Financial Standing

Sen. Cynthia Lummis, R-Wyo formally introduced a bill to the U.S. Senate on Wednesday seeking to establish a national Bitcoin reserve as political interest for the industry comes into focus. Dubbed the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024, the bill aims to strengthen "the position of the U.S. dollar in the global financial system," per the text of the bill. The legislation was first announced by Lummis during the annua...

  • Jul 31, 2024

Bitcoin Miner Riot Posts $84 Million Quarterly Loss as Post Halving Era Bites

Riot Platforms, a NASDAQ-listed Bitcoin miner, reported a net loss of $84.4 million in its latest quarterly financial report, even as the price of the world’s largest crypto remained relatively stable. Instead, its loss was primarily driven by a 52% year-over-year (YOY) decline in the number of Bitcoin mined between April 1 and June 31, Riot said Wednesday. Riot also reported a non-cash stock-based compensation expense of $32.1 million, along with depreciation and amortization costs amounting to...

  • Jul 31, 2024

How Founders Can Revitalize VC Tokens

To get listed on major exchanges, many crypto projects are over-inflating their valuations at launch, scaring away investors. How do founders get exposure to VC funding withou...

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