DeFI News by Thebittimes.Com

JPMorgan Chase has filed a new trademark application in the US for “JPMD,” igniting speculation that the bank might soon launch a stablecoin. The application was filed with the US Patent and Trademark Office on June 15, and mentions crypto-related services including digital asset trading, transfer, exchange, payment processing and clearing.  Is JPMorgan Working On Stablecoin Launch With Other Banks? JPMorgan’s filing follows a May 22 report by the Wall Street Journal (WSJ) that said JPMorgan and other banking giants are considering a joint stablecoin launch .  The WSJ report added that the banks view stablecoins as a strategic tool to enhance existing payment rails and speed up cross-border settlements. These banks would also compete directly with existing, crypto-native issuers, the report said. While “stablecoin” was not specifically mentioned in JPMorgan’s recent filing, industry observers have already drawn a link between the WSJ ...

There is a lot going on in the blockchain world right now, and several notable coins are causing a stir. Top crypto gainers Sushi, Core DAO, Frax, and Chiliz have caught the interest of both traders and investors. Knowing why these coins are rising can give you important information about market patterns and possible growth areas, regardless of your level of experience as an investor or your level of interest in new chances. Biggest Crypto Gainers Today- Top List Sushi is well-known for its creative approach to decentralised finance, and it keeps getting stronger in the DeFi market. Core DAO’s innovative hybrid consensus method, which combines the security of Bitcoin with scalable blockchain solutions, is making significant progress. With a novel approach to decentralised financial stability, Frax’s fractional-algorithmic stablecoin paradigm is gaining popularity. Chiliz is still at the forefront of blockchain applications for sports and entertainment, and its networ...

Circle, the company behind one of the leading stablecoins, minted $250 million worth of USDC today, on February 7. Issued on Solana, the amount represents a US dollar inflow into the crypto ecosystem, hinting the bull market is back. As detailed by Whale Alert ( @whale_alert , on X), the mint occurred on Solana, costing 0.00031 SOL in fees. The receiver address was the pre-labeled USDC Treasury account, which currently has a $474.41 million balance, as per SolanaFM . USDC Treasury account | 3emsAVdmGKERbHjmGfQ6oZ1e35dkf5iYcS6U4CPKFVaa. Source: Whale Alert Interestingly, over $10 billion of the $55 billion capitalization of USDC was minted in the last 30 days. This represents a significant share of the available tokens, according to usdc.cool , who called the data “INCREDIBLE.” Picks for you Flare launches Flare Fair, a virtual DeFi fa...

Circle’s USDC is the world’s second largest US dollar stablecoin, currently with one-third of Tether’s USDT capitalization and circulating tokens. This scenario could soon shift as Circle announces a key partnership with the world’s largest crypto exchange, Binance. On December 11, Circle’s CEO, Jeremy Allaire, and Binance’s CEO, Richard Teng, announced the partnership at Abu Dhabi Finance Week. As communicated, Binance will adopt USDC for its US dollar corporate treasury and integrate USDC with its products and services. “Circle is without a doubt one of the most trusted and innovative companies in the digital asset ecosystem, and USDC is one of the preeminent products in the world. Through our strategic partnership, our users will have even more opportunities to use USDC on our platform, including more USDC trading pairs, special promotions on USDC across trading, and other products on Binance.” – Richard Teng, Binance CEO ...

The cryptocurrency market is bolstering Ripple (XRP) and Cardano (ADA) to new heights. Both the tokens have been fueled by the current market momentum and are steadily reaching new highs. However, the real question is, how high can both tokens reach by mid-December 2024? Also Read: Donald Trump Appoints David Sacks As Cryptocurrency & AI Czar Ripple Price Forecast for December Source – Ajaib Kripto XRP is currently one of the leading cryptocurrencies in space. The token is all set to launch its stablecoin RLUSD in the market, driving the momentum up a notch. At the same time, financial giants like Canary and Wisdom Tree have filed for an XRP ETF, eager to deliver XRP exposure to their clients. Such momentous developments have been adding more to the token’s credibility, strengthening its morale and strength as of late. With the change in the US political regime, with Trump assuming the presidential role, the overall momentum of the market has largely improved. Trump has appointed ...

Shiba Inu (SHIB) is one of the most popular and successful cryptocurrencies of the last four years. Since its launch in August 2020, till it hit an all-time high in October 2021, SHIB’s price rallied by many million percent. Early investors made millions of dollars in profits. While some believe that the SHIB boat has sailed and it is too late to make it big with the dog-themed cryptocurrency, others think there is still time to make massive returns. Also Read: Solana October 2024 Price Prediction: Can SOL Hit $200? In this article, we will discuss why SHIB could make you a millionaire by 2030. 3 Reasons Why Shiba Inu Could Make You $1 Million By 2030 One of the most significant barriers to SHIB’s price is its massive circulating supply. One of the most substantial catalysts for SHIB’s incredible rally in 2020-2021 was Ethereum co-founder Vitalik Buterin’s monumental token burn. Buterin received half of SHIB’s supply upon launch but decided to burn 90% of t...

A New York District Judge approved a request by Ripple Labs to pause the $125 million penalty imposed in the company’s ongoing lawsuit with the US Securities and Exchange Commission (SEC). The order, signed by Judge Analisa Torres of the Southern District of New York, grants both Ripple and the SEC additional time to appeal the recent ruling. Despite the pause, Ripple executives, including CEO Brad Garlinghouse, have indicated they have no plans to appeal the decision. Garlinghouse hailed the ruling as a “victory for Ripple,” while the company’s legal officer, Stuart Alderoty, confirmed that Ripple would “respect the $125 million fine.” The stay in the Ripple SEC case will last for 30 days after the time the appeal expires or the resolution of any appeal in the case.  The SEC asked for $2B, and the Court reduced their demand by ~94% recognizing that they had overplayed their hand. We respect the Court’s decision and have clarity to co...

Circle, the issuer of the second largest stablecoin by capitalization, USD Coin (USDC), has entered into a partnership agreement with Tokyo-based financial services company SBI Holdings. SBI Group and Circle have also committed to properly complying with regulations related to stablecoin s, including communication with authorities. To circulate USDC stablecoin s in Japan, SBI VC Trade Co., Ltd. (head office: Minato-ku, Tokyo) is seeking registration as an electronic payment instrument service, which is subject to government approval. The goal of the collaboration is to adapt the token and its own Web3 services in Japan, Circle says on its website. The parties came to an agreement against the backdrop of active work by the Japanese authorities on the formation of legal standards for stablecoin s. You might also like: Japan to lift its ban on foreign stablecoins in 2023 “Our partnership with SBI Holdings represents a shared vision for the future of digital currency, and is...

Gnosis, self-proclaimed as one of the first Ethereum sidechains, announces the Gnosis Card. It allows transfers of euro stablecoin from self-custodial wallets and payments with it. The product was launched at the Ethereum Community Conference (EthCC), the annual European Ethereum event that took place in Paris on July 17. Real-world payments Gnosis has introduced a Visa debit card in partnership with Monerium, enabling users to make real-world and online purchases using Monerium’s euro stablecoin , EURe. By combining Visa’s payment technology with Gnosis’ asset management platform, Safe, users can now easily complete transactions with the Gnosis Card.  Initially, EURe is the sole stablecoin supported, but Gnosis plans to expand the offering to include other stablecoins in Q4. With this product, the card holders will also have the option to link their preferred wallets, such as MetaMask and Coinbase Wallet. The Gnosis Card is set to debut in the U.K. and the ...

Japan's Web3 project team released a white paper suggesting ways to expand the country's crypto industry to establish a welcoming atmosphere for crypto. The Web3 project team of Japan's ruling Liberal Democratic Party has released a white paper containing suggestions for expanding the nation's industry, which has been incorporated into the national strategy by Prime Minister Fumio Kishida's administration. The Web3 project team aims to bypass the usual bureaucratic processes to formulate regulatory proposals for everything from nonfungible tokens (NFT) to decentralized autonomous organizations (DAO). In contrast to other governments seeking to implement consumer protection regulations, Japan is striving to establish a more welcoming atmosphere for cryptocurrency, as many companies have relocated to other countries due to high tax obligations. According to the white paper, Japan must exhibit leadership during this year's G7 summit, which will address crypto cur...

On this week’s episode of The Market Report, Cointelegraph’s resident experts discuss the details of the SEC’s ban on crypto staking and whether stablecoins are securities. This week on The Market Report, the resident experts at Cointelegraph discuss why the United States Securities and Exchange Commission is going after crypto staking and why stablecoin s have been in the news recently. We start off this week’s show with the latest news in the markets: SEC lawsuit against Paxos over BUSD baffles crypto community On Feb. 13, the SEC issued a Wells Notice to Paxos Trust Company, which issues the Binance USD (BUSD) stablecoin , alleging that the stablecoin is an unregistered security. On the same day, the New York Department of Financial Services ordered Paxos to halt the issuance of BUSD. This led to various members of the crypto community taking to Twitter to give their takes on the situation. From disregarding the issue as “FUD” to calling it an attack against the Binance exchan...

Armstrong said that because centralized exchanges and custodians have the most risk of causing consumer harm, regulators must focus there first and foremost. Coinbase CEO Brian Armstrong has pushed for stricter regulations on centralized crypto actors , but says de centralized protocols should be allowed to flourish given that open-source code and smart contracts are alrea“the ultimate form of disclosure.” Armstrong shared his views on cryptocurrency regulation in a Dec. 20 Coinbase blog where he proposed how regulators can help “restore trust” and move the industry forward as the market continues to recover from the damage done by FTX and its shock collapse. But decentralized protocols aren’t part of that equation, the Coinbase CEO emphasized. “Decentralized arrangements do not involve intermediaries [and] open-source code and smart contracts are “the ultimate form of disclosure,” Armstrong explained, adding that on-chain, “transparency is built in by default” in a “cryptographical...