Demand for trading stocks on-chain is real. Switzerland-based Backed Finance's tokenized U.S. equities product, xStocks, has seen a cumulative trading volume of over $300 million less than a month since going live on Bybit, Kraken, and Solana decentralized finance (DeFi) platforms. xStocks are 24/7 onchain tokens representing shares in publicly traded U.S. firms. Each token … Read more
Brazil, Russia, India, China and South Africa – the five nations that constitute the BRICS group – are trying to reduce their dependency on the US dollar. To bring this wave of de-dollarisation into effect, the BRICS group is planning to develop a digital payment network, backed by digital currencies. This information has been disclosed … Read more
Crypto infrastructure firm Function has closed a $10 million seed round led by Galaxy Digital (GLXY), with participation from Antalpha (ANTA) and Mantle, the company said in a press release on Tuesday. The round positions Function, formerly known as Ignition, at the forefront of a growing effort to unlock institutional yield opportunities from bitcoin , … Read more
WazirX, which suffered a loss of over $230 million (approximately Rs. 1,900 crore) in a hack in July, is now working to restructure its finances. In a recent affidavit, the exchange revealed that only 441 users have supported the moratorium appeal filed by its majority stakeholder, Zettai, in a Singapore court. With two million monthly … Read more
Apple Intelligence, the company’s in-house suite of artificial intelligence (AI) features for its devices, will reportedly be provided by Baidu’s AI models in China. The Cupertino-based tech giant has so far not released its new AI features in the European Union countries and China due to regulatory obstacles. While the problem in the EU largely … Read more
Robinhood tokens offering equity in OpenAI technically aren’t equity, Vlad Tenev confirmed in a recent CNBC interview, but are backed by “Robinhood’s ownership stake in a special purpose vehicle.” OpenAI warned earlier this month that the tokens being offered by Robinhood do not represent equity in the company, and any transfer of equity would require … Read more
The crypto market took a hit over the weekend following a memecoin controversy. Argentina’s President Javier Milei promoted the Libra memecoin on his official X account last Friday. According to the Buenos Aires Herald, his now-deleted tweet claimed the token could boost the national economy. Reports indicate that within hours of launch, Libra’s price surged … Read more