Chain News by Thebittimes.Com

PancakeSwap, a decentralized exchange (DEX), has partnered with fiat-to- crypto gateway Transak to allow users to directly purchase crypto currencies on its platform. According to a Sept. 21 announcement, this new integration enables PancakeSwap users to buy crypto using various fiat payment methods including credit cards, bank transfers, Google Pay and Apple Pay. Previously, users had to purchase crypto on a separate platform before transferring it to a wallet address and use PancakeSwap. You might also like: PancakeSwap launches on Ethereum layer-2 solution, Base This announcement follows the unveiling its highly anticipated version 3 (V3), which brings a suite of new Features and improved functionality to the platform. The upgraded PancakeSwap V3 aims to address the growing needs of the DeFi ecosystem by offering users increased security, better efficiency, and enhanced user experience. One of the key improvements in PancakeSwap V3 is the introduction of more aggre...

S&P Global reports that Tether (USDT) is currently the top stablecoin in the market due to its stability . On the other hand, other stablecoins, such as MakerDAO’s DAI, are at a higher risk of depegging. As a result, some investors are turning to altcoins, and one that is gaining attention is Kangamoon (KANG), particularly for its approach in the meme-coin sector. Summary USDT is the most stable of all stablecoins DAI is prone to depegging Kangamoon drawing investor attention Tether outlook USDT is the most liquid stablecoin by market cap.  An analysis by Dr. Cristina Polizu, Anoop Garg, and Miguel de la Mata reveals that USDT only depegged once to $0.95.  You might also like: FTT price jumps 8% as Binance announces FTT/USDT trading pair Nonetheless, the stablecoin has consistently stayed within the $0.99 to $1 range, indicating high stability.  USDT has a market cap of over $83 billion with average daily trading volume of over $8.4 billion. Lo...

In a blog post on Sept 21, a16z's Miles Jennings discusses how decentralized autonomous organizations (DAOs) can avoid power centralization by applying Machiavelli's principles. Principles written almost 500 years ago by Niccolò Machiavelli — author of the controversial political work "The Prince" — are the path to solving decentralized governance issues on autonomous organizations, according to a blog post by venture capital firm Andreessen Horowitz (a16z).  The piece is signed by a16z's general counsel and head of decentralization Miles Jennings, who believes that "applying Machiavellian principles to decentralized governance in web3 can address current shortcomings." According to Jennings, Machiavelli’s philosophy has a pragmatic understanding of struggles of social power, which are similar to those experienced by crypto protocols and their decentralized autonomous organizations (DAOs). Considered the father of modern political theory, Niccolò Mac...

Tether said the new loans were made at the request of some of its long-standing partners, and it plans to cut it down to zero by 2024. Tether, the largest stablecoin issuer in the crypto market, has seen a rise in its stablecoin lending, or secured loans, in 2023, despite the firm having announced it will cut such loans down to zero in December 2022.  In the company’s latest quarterly report, Tether noted that its assets included $5.5 billion of loans as of June 30, up from $5.3 billion in the previous quarter. A Tether spokesperson told The Wall Street Journal (WSJ) that the recent rise in stablecoin lending was due to a few short-term loan requests from clients with whom the firm has “cultivated longstanding relationships.” The spokesperson also said the company plans to cut such loans to zero by 2024. Tether stablecoin loans on the rise in 2023. Source: The Company Stablecoin loans had become a popular lending product for Tether, allowing customers to borrow USDT from Tether in re...

House Financial Services Committee approves bill to prevent American banks from issuing digital currencies. Majority Whip Tom Emmer leads a Republican-backed effort to prevent CBDC issuance. Concerns have been raised about CBDC’s potential for financial surveillance and potential misuse in the United States. The House Financial Services Committee recently approved a bill to prevent American central banks from issuing central bank digital currencies (CBDC). NEW: @GOPMajorityWhip’s anti-CBDC bill has just passed out of the House Financial Services Committee. https://t.co/2qIxziWihq — Eleanor Terrett (@EleanorTerrett) September 20, 2023 House Majority Whip Tom Emmer introduced the Central Bank Digital Currency Anti-Surveillance State Act. Fox Business reported that the bill is Republican-backed and aims to prevent the Federal Reserve and its member banks from issuing a digital version of the dollar. Emmer shared that this bill has the suppor...

Following this month’s activity related to September’s tokens unlock by Ripple, the company moved another 75 million XRP ($38 million ) on Monday, from which 58 million XRP went to known exchange addresses, probably to be sold on the crypto spot market. Notably, Ripple had already moved 100 million XRP from the 200 million tokens kept after the escrow’s finality. With the most recent activity, there are still 25 million left in the account address tagged as “Ripple 1”, by XRPScan . Following the track of the 75 million XRP Once again, Finbold tracked down these transactions on-chain trails, which followed a very similar pattern to the 100 million tokens moved one week earlier. Passing through the same accounts as before, suggesting they belong to the same owners. In this context, 75 million XRP were sent from “Ripple (1)” to the unknown address “rJqiM…La8nE” on September 18. One and a half hours later, the 75 million were forwarded to “rhWt2…E32hk”. Cryptocurrenc...

Water & Music founder Cherie Hu explains how technology is evolving the music industry — but is it to the benefit of musicians? Curiosity might have killed the cat, but for musicians, it’s often the launchpad of creativity and innovation. 2023 saw the rapid growth of OpenAI’s powerful ChatGPT artificial intelligence tool, and technologies like Midjourney and Dall-E have provided content creators the ability to literally become a one-man band — or a one-person production studio. Keeping pace with the rapid evolution of technology and its impact on relevant industries can be a challenge for the average busy person, and one of the goals of Water & Music is to offer a more research-backed approach for music industry professionals to inspect, discuss and experiment with new technologies. On Episode 19 of The Agenda podcast, hosts Ray Salmond and Jonathan DeYoung speak with Cherie Hu, the founder of Water & Music — “an independent newsletter and research community on a mission...