DeFi Lending Protocol Compound Launched its Compound III Version

Decentralized Finance (DeFi) lending protocol Compound has announced that it has officially launched its Compound III (V3) on the Ethereum mainnet. Compound III is an EVM-compatible protocol that enables supplying crypto assets as collateral to borrow the base asset. Unlike in the past, this new version only supports one “underlying asset” for lending. It provides other encrypted assets as … Read more

GEM Digital backs SoMee via $50M investment facility

GEM Digital Limited has committed $50 million to SoMee through a token subscription facility. The blockchain-based social media platform will use the investment to increase the liquidity of native token $SME SoMee users earn token rewards in $SME and Hive blockchain’s $HIVE when they like or post on the network. SoMee.Social, a blockchain agnostic social … Read more

Taliban Launches Crackdown on Crypto Use in Afghanistan

The Taliban, an Islamic fundamentalist group, are cracking down on cryptocurrency traders in Afghanistan. Bloomberg media reported the matter on Friday. Sayed Shah Sa’adaat, a senior Afghan police officer, had a conversation with Bloomberg about the crackdown. Afghanistan’s economy has suffered since late last year when the Taliban took control over the jurisdiction on 15th … Read more

Coinbase Says it Will List Potential Forked Tokens Following Post-Ethereum Merge

As the highly awaited Ethereum “merge” upgrade is approaching, the possibility of a fork is more likely, even if its odds for success are dim. Recently exchanges, including Coinbase, have announced plans to consider listing forked tokens. In an updated blog post on Thursday, Coinbase crypto exchange stated that it will assess any potential forked … Read more

Former South Korean Deputy Minister Yong-beom Kim Joins Blockchain Research Institute

Yong-beom Kim, former first deputy minister of the Ministry of Planning and Finance of South Korea, will join Hashed Open Research, a blockchain and digital technology research institute, as CEO. Yong-beom Kim served as the First Deputy Minister of Economy and Finance of South Korea from 2019 to 2021, and also served as Deputy Chairman … Read more

Japan to Introduce Corporate-friendly Crypto Tax Law in 2023

The Japanese government has proposed a new crypto tax law that will be introduced in 2023 for companies. Earlier, Watanabe Sota, CEO of Web3 infrastructure firm Stake Technologies Pte, said that in order to prevent entrepreneurs from leaving the country, Japan should minimize corporate taxes on crypto businesses. The Japanese government has also proposed a … Read more

Zipmex Appoints Restructuring Firm Kordamentha To Work on Recovery Plan

Zipmex, a cryptocurrency exchange based in Singapore, announced on Friday that it has appointed an Australian restructuring firm, KordaMentha Pte, to assist with a recovery plan. KordaMentha will work with Zipmex on how best to reorganize the exchange and preserve its assets. Apart from that, Zipmex revealed that it is in advanced talks with two … Read more

Su Zhu Worried About Jail Term Over Liquidators Class Action Settlement – Report

Su Zhu, a co-founder of Three Arrows Capital (3AC), a Singapore-based cryptocurrency hedge fund firm, delivered an affidavit in person in Bangkok, Thailand, on August 19, as reported by Bloomberg on Friday 26th August. In the affidavit, Zhu accused the firm’s liquidators that they used misleading and inaccurate information in their case associated with Three … Read more

Pro-blockchain narratives hinder Bitcoin adoption, says StackinSat founder

Over a decade-long evolution later, for self-justified personal reasons, a handful of the crypto community members chose to believe in siding against Bitcoin (BTC), resulting in a narrative that preached “blockchain is great, Bitcoin is bad.” Josselin Tonnellier, the founder of Bitcoin exchange StackinSat and organizer of the Surfin’ Bitcoin 2022, believes that this particular notion … Read more