Société Générale Applies for $20M MakerDAO Loan Using Bond Token Collateral — CoinDesk

A flowchart included in the proposal shows six entities: SocGen; SocGen Forge; the MakerDAO protocol; The DIIS Group that will serve as a “security agent,” a requirement under French law to enforce the terms of the loan on the real-world side on Maker’s behalf; an as-yet unappointed MakerDAO legal representative; and an as-yet unnamed 3rd party that will facilitate exchanging the DAI loan to dollars, likely either a custodian service or a centralized exchange. Source link

DeFi and DEX volumes soar amid China’s crypto ban and ongoing US regulation

Last week China’s heavy-handed crackdown on crypto trading crypto briefly sent shockwaves across the market as Bitcoin and altcoin prices saw a sharp drop following the announcement, but as is the case with all things crypto-related, the market bounced back as resilient traders found other ways to participate in the market.  Part of China’s goal in limiting citizens ability to trade cryptocurrency seems focused on discouraging the use of cryptocurrencies and the growing decentralized finance (DeFi) ecosystem but these maneuvers appear to be having the opposite effect as the token…

TikTok Will Launch an Official Collection of NFTs

Key Takeaways TikTok has announced an official collection of NFTs. The lineup will feature media from various content creators including Lil Nas X and Grimes. TikTok’s first NFTs will go on sale beginning Oct. 6. Share this article TikTok will launch a collection of non-fungible tokens or NFTs featuring media from its most popular content creators. Lil Nas X Leads NFT Lineup The NFTs will include content from TikTok members. The first item will be sold on Oct. 6, and it will feature Rudy Willingham’s stop motion video for the…

Bears intend to pin Bitcoin price below $42K until Friday’s $700M expiry passes

Bitcoin (BTC) has been trading in a descending pattern since the strong $53,000 rejection that occurred on Sept. 7, and the $3.4 billion futures contracts liquidation along with China’s ban on crypto trading appear to have severely impacted traders’ morale.  Adding to the negative sentiment, major crypto exchanges like Binance and Huobi halted some services in mainland China, and some of the largest Ethereum mining pools, like Sparkpool and BeePool were forced to shut down completely. Bitcoin price in USD at Coinbase. Source: TradingView Based on the above chart, it…

Fed’s Powell has no intent to ban Bitcoin or crypto

Federal Reserve Chairman Jerome Powell believes the federal government needs to regulate the cryptocurrency market, but that a blanket ban on Bitcoin (BTC) and other digital assets is not in the cards. Speaking in response to a question from Republican Representative Ted Budd of North Carolina, Powell clarified that a China-style ban on digital assets was not something he’s considering. Rep. Budd’s question came in response to Powell raising doubts about the regulatory status of stablecoins and the central bank’s ongoing deliberations around a so-called “digital dollar.” (In Powell’s view,…

Bitcoin Above $42K; Analysts See Rebound Ahead — CoinDesk

Technical indicators show support, or the price level that an asset does not fall below for period of time, at $40,000, although resistance remains strong around $50,000, where buyers took some profit earlier this month. “Ultimately BTC needs a break (daily price close) above $47,000 to mark a resumption of the broader uptrend,” Michael Boutros, analyst at DailyFX, wrote in an email to CoinDesk. Source link

The infrastructure bill is hanging in the balance. What would its enactment mean for crypto?

Later today, the United States House of Representatives is expected to vote on the bipartisan Infrastructure Investment and Jobs Act of 2021, a bill authorizing sweeping investments in domains such as passenger rail, bridge repair, clean and wastewater facilities, clean energy transmission, and universal access to high-speed internet. Also tucked into the massive bill are several provisions that would directly affect millions of crypto users if enacted, particularly the expanded tax reporting requirements for entities handling cryptocurrency transactions. Neither the bill becoming law nor even the Sept. 30 House vote…