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Wall Street’s largest banks are tapping into the crypto market through derivatives

Episode 51 of Season 4 of The Scoop was recorded remotely with The Block’s Frank Chaparro and James Stickland, CEO of Elwood Technologies. Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to [email protected] Elwood Technologies — an Alan Howard backed digital asset platform that is building trading infrastructure for institutional investors — closed a $70 million Series A last month co-led by Goldman Sachs and Dawn Capital. In this …

Crypto exchange Bitso lays off 80 employees, CoinDesk reports

Latin American crypto exchange Bitso laid off 80 members of staff on Thursday, CoinDesk reported.  Bitso had more than 700 employees before the layoffs and still lists more than 60 open jobs on its website, according to the report, which cited a statement from Bitso. The Gibraltar-registered exchange has more than 4 million users in Latin America, across Mexico, Brazil and Argentina. It officially launched its trading app in Colombia just last week.  The company closed a Series C fundraising …

Blockchain.com CEO Peter Smith talks Dallas Cowboys sponsorship, IPO rumors

Founded back in 2011, Blockchain.com recently closed a Series D funding round in March at a valuation of $14 billion, making the crypto company both one of the longest-operating exchanges as well as one of the highest valued in the industry. After spending effectively “zero” on marketing for over a decade, Blockchain.com recently announced a sponsorship deal with the Dallas Cowboys, becoming the first crypto company to ink a deal with an NFL team approved by the league. In this …

Lido Finance overtakes Curve to become the biggest DeFi protocol by TVL

On Thursday, liquid staking provider Lido Finance became the largest DeFi protocol in terms of total value locked (TVL), a metric that tracks the amount of assets deposited in various DeFi projects. It is now looking after $19.4 billion in crypto at the time of writing. Curve, a decentralized exchange focused on stablecoins, previously led this metric for about six months. Curve now holds about $19.28 billion and trails Lido by only $120 million, meaning the two competitors are neck …

Binance moves to redesign Twitter emoji that resembled a swastika

Crypto exchange Binance drew sharp criticism on Wednesday following the unveiling of a new Twitter emoji. The new Binance emoji is a literal swastika pic.twitter.com/lCOuWuPnyF — mann0000.eth 🦇🔊 (@nftshare) April 20, 2022 Binance’s social account and CEO Changpeng Zhao both tweeted the new emoji earlier today. The image depicts the Binance logo in a square surrounded by four pixelated arms at right angles, strongly resembling the Hindu swastika, which connotes prosperity and good luck. The Nazi Party of Germany adopted …

Binance approved in principle by Abu Dhabi as digital asset broker-dealer

Binance received in-principle approval from Abu Dhabi Global Market (ADGM) to operate as a broker-dealer in digital assets, Bloomberg reported on Sunday. The world’s biggest cryptocurrency exchange by trading volume must now complete the application process, according to Richard Teng, Binance’s head for the Middle East and North Africa and a former ADGM executive. If the licensing for Abu Dhabi — the UAE capital — is successful, Binance will offer services to clients across the MENA region through its subsidiary …

Coinbase disables UPI payments just days after India launch

Crypto exchange Coinbase disabled its support for the Unified Payments Interface (UPI) in India on Sunday, just days after marking its entry into the Indian market with an event on April 7, the Economic Times reported. “Purchases with this payment method are temporarily unavailable. Please try another payment method. Sorry for any inconvenience,” read Coinbase’s mobile application. Coinbase, the largest cryptocurrency exchange in the US by trading volume, appears to have come to the attention of the National Payments Corporation …

Kraken CEO says forthcoming platform will enable NFT-collateralized loans

Kraken CEO Jesse Powell says the exchange’s forthcoming non-fungible token (NFT) platform will provide services to allow customers to extract additional value from their collectibles. Powell told Bloomberg News that Kraken plans to offer custody services for NFTs, as well as the ability to use NFTs as collateral for loans.  Powell called the functional use of NFTs, such as NFT-collateralized loans, “phase three” of the growing ecosystem for digital art and collectibles. Phase one was speculation and phase two was …

Crypto exchange BitMart reportedly hacked for $100 million

Crypto exchange BitMart has been hacked for $100 million, according to security researchers PeckShield. At 7.30 PM UTC, PeckShield first noticed an excessive amount of outbound transfers. It found that a range of tokens had been sent out of BitMart’s hot wallet, starting at 4.30 PM EST. These tokens included large amounts of meme tokens like shiba (SHIB), plus half a million dollars in the stablecoin USDC. Other commentators have pointed out that funds have also been removed on the …