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UK Finance pilots tokenized sterling deposits with six major banks

UK Finance has initiated a pilot project for tokenized sterling deposits (GBTD) in partnership with six major banks, including Barclays, HSBC, Lloyds Banking Group, NatWest, Nationwide, and Santander. The aim of this pilot is to create a digital representation of conventional pound sterling deposits, enhancing control over payments, reducing fraud,

Aster reimburses users after XPL perpetual glitch sends price to $4

Aster has reimbursed traders affected by a glitch in its Plasma (XPL) perpetual market, which temporarily inflated prices to nearly $4, while other markets remained around $1.3. This discrepancy was due to a misconfigured index hard-coded at $1. The glitch caused liquidations and unusual fee charges, resulting in user

Crypto needs dual wallet management, AI monitoring for North Korean hackers

Cybersecurity experts emphasize the necessity for cryptocurrency companies to enhance their defenses against North Korean hackers, particularly those infiltrating Web3 businesses. Hiring North Korean developers could expose crypto projects to severe risks, as illustrated by a recent breach costing a major exchange up to $400 million in potential reimbursements. Experts

Cryptoization of Emerging Markets Poses Risks to Financial Resilience: Moody's

Moody's latest report highlights the risks that cryptocurrency adoption poses to monetary sovereignty and financial resilience in emerging markets. It emphasizes that increased use of stablecoins, especially those pegged to the U.S. dollar, could weaken the monetary transmission framework, as pricing shifts away from domestic currencies. By

Hong Kong rules limit stablecoin derivatives trading: DBS CEO

Hong Kong's stablecoin regulatory framework restricts their use for derivatives trading on blockchain networks, according to Sebastian Paredes, CEO of DBS Hong Kong. He noted that recent regulatory requirements would significantly limit stablecoin use in on-chain derivatives. Following the introduction of these new rules on August 1, restrictions

WLFI Holders Approve Buyback And Burn After 41% Price Drop

World Liberty Financial is set to initiate a WLFI token buyback and burn program following a significant 41% drop in the token's value this September. The project, which has backing from the Trump family, announced that it will implement the buyback and burn strategy in order to reduce

Can Bitcoin’s Hard Cap of 21 Million Be Changed?

A hard cap is the maximum supply of a cryptocurrency, hardcoded into the blockchain. Bitcoin has a hard cap of 21 million coins, promoting scarcity and preserving its value as a store of value akin to gold. Changing this cap remains a contentious topic among the Bitcoin community, as it