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• Circle, a stablecoin issuer, has cleared all its backlog of USDC minting and redemption requests.
• The company has also gone live with a new transaction banking partner for domestic US wires in and out on March 14.
• Circle has also expanded relationships with other banking partners to help with USDC redemption.

Circle Clears All USDC Minting and Redemption Backlog

Circle, the stablecoin issuer, has announced that it has cleared „substantially all of the backlog of minting and redemption requests for USDC“. According to the company’s statement, $3.8 billion worth of USDC tokens were redeemed during this period and $800 million was minted.

New Transaction Banking Partner

Circle has gone live with a new transaction banking partner for domestic U.S. wires in and out on March 14th. This partnership will allow international wires to 19 countries as well the following day. Furthermore, Circle is expected to bring more capabilities back online starting this week.

Cross River Bank Taking Over

As per an earlier update, Cross River Bank is taking over as Circle’s commercial banking partner. Additionally, Circle is expanding relationships with other banking partners to help with USDC redemption such as Bank of New York Mellon (BNY Mellon).

USDC Depeg Caused Turmoil in Market

The unexpected depeg of USDC caused significant turmoil in the market last week which prompted Circle to work on adding more transaction banking partners for better liquidity operations for USDC holders. The company thanked customers for their patience during these unprecedented times while they worked on resolving the issue quickly and efficiently.

Conclusion

With clearing substantially all the backlogs concerning minting and redeeming requests for USDC tokens along with going live with a new transaction banking partner, Circle is taking steps towards restoring normalcy in its services pertaining to USDCS trading activities among users around the world..

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Overview of the Article

• Africa is increasingly adopting digital assets due to a lack of basic financial services and devaluating local currencies.
• Direct Property Africa Token (DPAT) is a new protocol that allows people to invest in African real estate and infrastructure projects.
• DPAT holders benefit from transparent, secure, immutable transactions, cost-saving procedures related to trading offshore assets, and certain incentives.

Investing in the Growing African Economies

As Asia, North America, and Europe have been at the forefront of innovation for the past several years and especially crypto adoption, more recent reports suggest that numerous countries in Africa such as Nigeria have opted on the digital asset bandwagon. While the reasons could vary from a lack of basic financial services to devaluating local currencies, crypto adoption in the region continues to flourish. Investments in African states are also rising with Direct Property Africa Token (DPAT) being a new protocol facilitating them in a simplified and secured way.

What is DPAT?

DPAT allows users to invest in African real estate and infrastructure projects located in large cities like Cape Town or Accra. It disperses governance and ownership to users which gives them voting rights on what types of constructions should be done where they should be placed and who should perform them. Furthermore, investors could also get tax advantages or other cost-saving procedures related to trading offshore assets via blockchain technology which promises transparent safe and immutable transactions.

Benefits for DPAT Holders

Holders of DPAT tokens can benefit from various incentives including cost savings when trading offshore assets as well as secure immutable transactions thanks to blockchain technology which ensures transparency throughout all operations.

Conclusion

In conclusion, DPAT has opened up an array of opportunities for investors looking for lucrative investments with growing economies in Africa needing funding for their projects while offering multiple benefits such as secure transactions backed by blockchain tech as well as savings when trading offshore assets.

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• Cerus Markets has launched its Mobile Trading App Giveaway, giving traders an opportunity to win a share of $10,000 in cash.
• To register for the Giveaway, traders must sign up for the waitlist and download the trading app once it becomes available.
• Cerus Markets is a regulated crypto broker offering derivatives that allow speculation on major global Stocks, Commodities and Metals trading paired against currencies and crypto with zero fees and leverage up to 100:1.

Cerus Markets Launches its Mobile Trading App $10,000 Giveaway

Cerus Markets is excited to launch its Mobile Trading App Giveaway! Announcing an upcoming release of its trading platform, Cerus Markets is excited to offer traders an opportunity to be the first to access its Mobile Trading App and take a chance to win a share of $10,000 in cash.

About Cerus Markets

Cerus Markets Limited is a multi-asset broker authorized and regulated by the Labuan Financial Service Authority. Cerus Markets represents a new type of global brokerage providing access to cryptocurrencies, forex, stocks and commodities all from one trading platform – all without fees. Users can access from their mobile device or web browser, and never miss a trade. Cerus Markets goal is simple; make cryptocurrency markets accessible for everyone.

How to Enter

To register for the Giveaway, visit cerus.app, sign up for the waitlist and download the trading app once it becomes available. A total of three winners will be chosen at random and announced via email and social media.

Prizes

$5,000 will be awarded to the first winner, $3,000 to the second winner and $2,000 will go towards third place.

Sign Up Now
< p > Sign up for a $ 10 , 000 Cash Giveaway at cerus . app .

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• The Web3 Domain Alliance announced 52 new members, including Blockchain.com, Rarible, Wyre, Bitdegree and WazirX.
• Unstoppable Domains has agreed not to assert against Alliance members its patents that are necessary to adopt the Alliance’s interoperability and security standards.
• The Alliance will engage on topics including consumer protection, interoperability of blockchain naming services and technological development in Web3 naming services.

Web3 Domain Alliance Announces New Members

The Web3 Domain Alliance is a member-led coalition dedicated to improving the technological and public policy environments for users of Web3 naming services. On 22nd February 2023, the alliance announced 52 new members including Blockchain.com, Rarible, Wyre, Bitdegree, WazirX and Klever among others.

Unstoppable Domains’ Commitment

Unstoppable Domains is a founding member of the Web3 Domain Alliance which was recently awarded a patent around resolving blockchain domains. To support innovation across the Web3 industry through its IP investments, Unstoppable has irrevocably agreed not to assert against other members its patents that are necessary to adopt the Alliance’s interoperability and security standards.

Engagement Topics for Members

Alliance members will engage on topics related to user-owned digital identities such as consumer protection as well as interoperability of blockchain naming services and technological development in web 3 naming services.

Unstoppable’s IP Investments

To support ongoing development of digital identity technology in web 3 space Unstoppable will make contributions such as technology towards enabling interoperability and security standards through its IP investments.

About Web3 Domain Alliance

The mission of the Web3 Domain Alliance is to create a safe environment for users with user-owned digital identities by providing an open platform for collaboration between stakeholders within various industries – from domain name registrars to wallet providers – built around shared values like trustworthiness and data privacy protection

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• Leading venture capital firms such as Sequoia Capital, Thoma Bravo, and Paradigm were reportedly indicted for adding an „air of legitimacy“ to the bankrupt cryptocurrency exchange FTX.
• Sam Bankman-Fried, accused of committing several crimes such as fraud and money laundering, received a subpoena as part of the case against the organizations he found and will have to present a range of documents on February 17.
• According to a Bloomberg coverage, Sequoia Capital and the other private equity firms were accused in a lawsuit of popularizing FTX in a marketing campaign in 2021.

Accusations Against Venture Capital Firms

Leading venture capital firms such as Sequoia Capital, Thoma Bravo, and Paradigm have been reportedly indicted for adding an „air of legitimacy“ to the bankrupt cryptocurrency exchange FTX. The complaint states that these companies used their professional reputations and media outreach capabilities to portray FTX as a trustworthy and legitimate crypto exchange. As a result, many investors lost multi-billion dollars due to the collapse of this platform in November 2020.

Subpoenas Issued

Sam Bankman-Fried – who is accused of committing several crimes such as fraud and money laundering – has received a subpoena as part of the case against the organizations he founded. He will have to present a range of documents on February 17 whereas his father Joseph Bankman and Alameda Research’s former bosses Caroline Ellison and Gary Wang are set to do so one day earlier.

FTX Marketing Campaign Allegedly Used

The lawsuit also claims that Sequoia Capital along with other private equity firms hyped up FTX through an organized marketing campaign during 2021. All these companies had financial stake in this crypto exchange which incentivized them to promote it despite its fraudulent activities which eventually led to its downfall.

Reputational Damage for Crypto Market

The bankruptcy scandal involving FTX has caused massive reputational damage for digital asset sector since it revealed how some big players can manipulate public opinion using their clout in order to gain more profit from investors’ funds. This kind of behavior must be eradicated if people want crypto markets become mainstream investments options in the future.

Conclusion The legal battle between FTX’s owners and venture capital firms will provide us with more insights about how large entities control information flow within crypto markets and what measures need to be taken by governments around the world in order protect innocent investors from falling victim into similar schemes again.

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• Tether Holdings Limited reported a net profit of $700 million in the fourth quarter of 2022.
• The firm ended last year with excess reserves of $960 million and at least $67 million billion in consolidated total assets.
• The data showed that Tether was able to smoothly redeem over 21 billion dollars during the chaotic events of the year.

Tether Reports Record Profit for Q4 2022

Tether Holdings Limited reported a record net profit of around $700 million in the fourth quarter of 2022. It ended last year with excess reserves of $960 million and at least $67 million billion in consolidated total assets, proving its stability and resilience amid turbulent times. The data also revealed that Tether was able to smoothly execute over 21 billion dollars in redemptions during the chaotic events of the year.

Secured Loans Reduced by $300 Million

Tether’s profits for Q4 2022 stood at $700 million, while its secured loans were reduced by $300 million. The report also showed that it had a direct exposure of over 58% to US Treasury Bills, zero commercial paper, and total liabilities equal to almost 100% amount related to issued tokens ($66 billion).

Chief Technology Officer Praises Resiliency

In light of their impressive performance throughout the bear market conditions in crypto sector, Chief Technology Officer Paolo Ardoino praised Tether’s ambition to „lead the industry in transparency“ as well as their „stability and resilience.“ He noted that they have issued over 10 billion USDT which is an indication of continued organic growth demand for digital currencies like USDT.

Increased Demand for Stablecoins

The report further highlighted an increasing demand for stablecoins like USDT due to their low volatility compared to other cryptocurrencies such as Bitcoin or Ethereum. This indicates that investors are becoming increasingly aware about asset diversification benefits provided by stablecoins like USDT and use them as an alternative way to preserve capital or hedge against traditional markets‘ downside movements.

Conclusion

To conclude, Tether reported impressive results despite market turbulence throughout 2020-2022 with a significant increase in net profits from Q4 2021 ($400M) to Q4 2022 ($700M). Additionally, its consolidated total assets equaled 67 billion while total liabilities amounted up to 66 billion due mainly from issued tokens – making it one of most successful projects within cryptocurrency sector (despite some controversies).

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• Biswap DEX has announced its 2023 roadmap which includes a new AMM protocol, route optimization and perpetual trading.
• The new AMM will allow Liquidity Providers to accumulate capital more efficiently while also providing users with more profitable exchange conditions and less slippage.
• The team is also implementing decentralized futures trading with an order book on the BNB network.

Biswap DEX Unveils 2023 Roadmap

Biswap DEX has unveiled its ambitious 2023 roadmap which includes proposed improvements and upgrades such as a new automated market maker (AMM), route optimization and perpetual trading. The new AMM protocol will allow Liquidity Providers to accumulate their capital in smaller price intervals than from 0 to infinity, increasing capital use efficiency and providing users with better exchange conditions and less slippage when executing larger transactions.

Reducing Pressure on Biswap Token

In order to reduce pressure on the price of the native Biswap token (BSW) and provide opportunities for more earnings for long-term BSW token holders, the Biswap team has developed several initiatives that they will be put forward to BSW holders for voting in the future.

Decentralized Futures Trading

Evolving market trends have prompted the Biswap team to implement decentralized futures trading with an on-chain order book on the BNB network. To ensure safety when implementing this idea, the team has decided to connect a ready-made solution from ApolloX at this stage of product development.

Improvements for Liquidity Providers

As part of its 2023 roadmap, Biswap is also introducing a variety of incentives for Liquidity Providers including improved routing to reduce slippage when executing transactions, rewards from trading fees as well as increased capital efficiency through concentrated liquidity accumulation which allows them to accumulate their capital in smaller price intervals than from 0 to infinity.

Conclusion

All these initiatives are set out in detail in Biswaps 2023 roadmap, enabling users and liquidity providers alike benefit from improved protocols that increase efficiency while reducing costs associated with crypto trades.

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• Aptos has seen a surge in its price of over 400% in the last 30 days, making it one of the market’s top performers.
• The Aptos project has a renewed layer-1 trade narrative which is helping to boost its price.
• The overall crypto market’s rally is also likely contributing to Aptos’s success.

In the past month, Aptos has been one of the most successful projects in the cryptocurrency market, with its native token APT skyrocketing by 400%. This impressive gain has put the project at the forefront of the market and is helping to drive a renewed layer-1 trade narrative.

The success of Aptos has been attributed to a variety of factors. Firstly, the overall crypto market has seen a strong bull run in the past month, which is likely helping to boost the price of Aptos. The renewed layer-1 trade narrative is also likely contributing to Aptos’s success as it is helping to increase the popularity of the project. In addition, the Aptos project has a unique and innovative approach to blockchain technology which has attracted the attention of many investors.

The Aptos project is focused on creating an open-source, distributed, and secure ledger which is powered by a Proof-of-Stake consensus mechanism. This means that the project is focused on creating a blockchain that is both secure and efficient. The team behind Aptos is also working on developing various features that will help to make the project more attractive to users, such as smart contracts, atomic swaps, and interoperability.

The project has also developed a unique tokenomics system which is designed to help increase the price of APT tokens. The tokenomics system utilizes a deflationary mechanism which burns tokens every time they are transferred between two wallets. This helps to reduce the supply of tokens and make them more scarce, which in turn helps to increase their price.

The Aptos project has also been working on developing other products and services that will help to drive the adoption of their technology. For example, the team has developed a decentralized application (dApp) platform which allows developers to create their own dApps and use the Aptos blockchain to power them. The Aptos team is also working on a decentralized finance (DeFi) platform which will allow users to access various financial services on the blockchain.

Overall, the success of Aptos has been driven by a combination of factors, including its innovative approach to blockchain technology, its unique tokenomics system, and its commitment to developing products and services that will help to drive the adoption of their technology. The project is certainly one to watch as it continues to gain traction and more investors flock to it.

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• Crypto platform Luno will reportedly slash its headcount by more than 330 people.
• The London-based cryptocurrency platform is joining the growing list of industry players dismissing staff due to the bear market.
• A spokesperson of the trading venue stated that 2022 has been an incredibly tough year for the crypto market, affecting Luno’s overall growth and revenue numbers.

The crypto market has been struggling for the past year, and the effects are being felt by trading venues across the globe. London-based cryptocurrency platform Luno is the latest to join the list of companies facing tough times, as it is reportedly laying off more than 330 of its employees.

The news was initially reported by CNBC, stating that Luno will reduce its headcount from 960 to around 630. Luno joins a growing list of industry players that have had to make cuts due to the bear market, including Coinbase, Crypto.com, Bybit, Huobi, Gemini, and more.

A spokesperson of the trading venue stated that “2022 has been an incredibly tough year for the broader tech industry and, in particular, the crypto market. Luno, unfortunately, hasn’t been immune to this turbulence, which has affected our overall growth and revenue numbers.”

Luno is a global cryptocurrency platform that offers users a secure and easy way to buy, store, use, and learn about digital currencies. The platform offers users the ability to buy and sell Bitcoin, Ethereum, and other digital currencies, as well as store and manage them in a secure online wallet. Luno also offers cryptocurrency education, including guides and resources to help users understand the digital asset class.

The news of Luno’s layoffs follows a string of other cryptocurrency companies that have had to make similar decisions in light of the bear market. Coinbase recently announced that it was cutting 100 jobs, while Crypto.com, Bybit, Huobi, and Gemini have all had to make cuts as well.

It is unclear how the news of Luno’s layoffs will affect its business, but it is clear that the crypto market is feeling the effects of the bear market. Industry players will have to continue to find ways to weather the storm and stay afloat during these difficult times.

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• Ethereum Liquid Staking Derivative tokens are the hottest topic of 2023
• NFTs are also seeing massive volumes for multiple consecutive weeks
• Martin Lee, from Nansen, helps us crunch the numbers and interpret some of the on-chain data

The year 2023 is proving to be the year of Ethereum Liquid Staking Derivative tokens, with coins such as Lido, Frax Shares, and Rocket Pool all seeing tremendous growth. This trend is indicative of the larger trend of DeFi and its growing popularity, as these coins represent a way for people to take advantage of the liquidity of Ethereum and to make money from it.

However, NFTs are also seeing massive volumes as well, with multiple consecutive weeks of impressive numbers. This trend shows no sign of slowing down, and it will be interesting to see how long this positive development will last. Is it a dead cat bounce or the beginning of a much-awaited recovery?

To better understand the data and to interpret some of the on-chain data, we brought in Martin Lee from Nansen. Martin is an expert in the field of DeFi, and he has been following the trends closely. He began by explaining that Ethereum Liquid Staking Derivative tokens represent a way for people to make money by taking advantage of the liquidity of Ethereum. He explained that these tokens are different from other tokens in that they allow users to lock in their funds and earn rewards from the liquidity pool. This is a great way for people to leverage the power of Ethereum, and it’s no wonder why these tokens have seen such tremendous growth.

Martin then went on to explain that NFTs are also seeing massive volumes for multiple consecutive weeks. He believes that this is indicative of the larger trend of DeFi and its growing popularity. NFTs represent a way for people to create digital assets and to trade them freely, and this is something that is very attractive to many people. Martin believes that this trend will continue to grow and that more people will become involved in the NFT market.

Overall, Martin believes that the trends of both Ethereum Liquid Staking Derivative tokens and NFTs are very positive and that they will continue to grow in the future. He believes that this will be a great opportunity for people to take advantage of the liquidity of Ethereum and to make money from it. He also believes that these trends will provide a great opportunity for people to create digital assets and to trade them freely. This is an exciting time for the DeFi space, and it’s no wonder why these trends have been so successful so far.

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