The fees collected by cryptocurrency miners for processing transactions on the ethereum network have rocketed more than tenfold in just five months, according to data firm CryptoCompare. Total monthly fees […]
The booming decentralised finance (‘DeFi’) market suffers from an existential problem, says the Bank for International Settlements (BIS): it isn’t decentralised. Meanwhile, the contagion risks from DeFi to the rest […]
The Swedish government has called for a European Union-wide ban on the mining of energy-intensive cryptocurrencies like bitcoin and ethereum. Bitcoin and ethereum use an energy-intensive computer algorithm called ‘proof-of-work’ […]
The US central bank has warned of growing risks in the stablecoin sector. In its half-yearly Financial Stability report, released yesterday, the Federal Reserve said that stablecoins pose a growing […]
Binance chief executive, Changpeng Zhao, has denied responsibility for scams conducted across his exchange’s decentralised finance (DeFi) platform, Binance Smart Chain. In a blog published on 4 November, Zhao said […]
US authorities are seeking to rein in the financial stability risks created by the runaway growth of the stablecoin market, according to a new report released yesterday. Stablecoins are digital […]
Robinhood’s infatuation with crypto was short and sweet, if last night’s corporate earnings report is anything to go by. Robinhood shares fall below July IPO price The trading app’s revenue […]
The market at the centre of the world’s financial system—repo—is witnessing record popularity. But it’s always prone to collapse, and now cryptocurrencies are joining the fray. The repo market The […]
Cryptocurrency has turned into an inferior version of the money Satoshi Nakamoto set out to replace. In the first bitcoin ‘block’, the cryptocurrency’s creator embedded a message: “The Times 03/Jan/2009 […]
The incredible boom in fintech and crypto banking is eroding long-standing protections for depositors and creating wider systemic risks. Deposit insurance and depositor preference If you deposit money in a […]