City Presight Financial News

20.07 / 17:21

Government Law Stablecoin Europe Demand for widely used euro stablecoin is huge, says DeFi expert

The market capitalization of Tether (USDT), a United States dollar-pegged stablecoin, is currently over $65 billion. USD Coin (USDC), another stablecoin backed by the U.S. dollar, clocks in near $55 billion. Some reports estimate that the total market cap of dollar-backed stablecoins is over $160 billion.

16.09 / 10:47

Digital CEO Strategy financing Backed Peter Thiel's Valar Ventures backed revenue-based financing startup Velocity lays off about 14% of staff

Velocity has laid off around 14% of its workforce, the Bengaluru-based company's cofounder and chief executive Abhiroop Medhekar wrote in a blogpost on Friday. «Getting to profitability is an important priority for us and this restructuring is a crucial step in that direction. We’ve carefully restructured our organization to avoid redundancies,” he wrote.

01.07 / 10:05

cryptocurrency European Union Money Bitcoin EU agrees on landmark crypto regulation in wake of Terra meltdown and Bitcoin plunge

The European Union has agreed on landmark rules for regulating the cryptocurrency industry, whose meltdown has been wiping out fortunes and sparking calls for tighter scrutiny worldwide.

06.05 / 23:41

defi hacks Europe defi protocols Lost Finance Redefined: DeFi protocols lost $1.6B, EU to rethink DeFi approach and more

The past week in the decentralized finance (DeFi) ecosystem saw many new developments from an adoption perspective and protocol developments. The European Commission added a new chapter on DeFi, showing the growing impact of the nascent ecosystem, while a county in the United States State of Virginia wants to put its pension fund in a DeFi yield.

03.05 / 15:39

regulation Europe European Union regulatory EU Commission report suggests rethink of regulatory approach to DeFi

Analysts from the European Commission showed an unexpected understanding of how decentralized finances (DeFi) actually function, having defined it as something different from the traditional financial system and acknowledged that it would require rethinking the approach to regulation.

24.04 / 06:39

business Blockchain cryptocurrency Bitcoin Cryptocurrency Prices Today April 24: Bitcoin up, cryptos mixed; Polkadot biggest gainer

Cryptocurrencies traded in the mixed early on April 24. The global crypto market cap is $1.84 trillionm a 0.18 percent decrease over the last day. The total crypto market volume over the last 24 hours is $54.17 billion, which makes a 32.85 percent decrease.

22.04 / 05:41

NFT NFTS cricket Dream Capital invests $120 mn in cricket NFT platform Rario

NFT platform Rario raised $120 million in Series A funding from Dream Capital, the corporate venture capital arm of Dream Sports. Other investors participating in the funding round include Alpha Wave Global (previously Falcon Edge Capital) with existing investors like Animoca Brands (global leader in Web3 gaming), Presight Capital, and Kingsway Capital. Rario created the first-ever cricket NFT platform and has the largest share of cricket NFT rights through partnerships with 6 global cricket leagues and over 900 cricket professionals.

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