Kategorie: Crypto Markets

• Giancarlo said he’s not interested in any crypto role in the US Treasury
• Speculation has grown over who will replace SEC Chair Gary Gensler following Donald Trump’s re-election

Christopher Giancarlo, former CFTC chair, has denied rumors that he’s being considered to replace Gary Gensler as the head of the US Securities and Exchange Commission (SEC).

In a post on X, Giancarlo, known as Crypto Dad, said:

“I’ve made clear that I’ve already cleaned up [an] earlier Gary Gensler mess @CFTC and don’t want to have [to] do it again,” adding: “DC rumors that I’m interested in some #crypto role @USTreasury are also wrong.”

As for reports that I’m in mix to run @SECGov, I’ve made clear that I’ve already cleaned up earlier Gary Gensler mess @CFTC and don’t want to have do it again. DC rumors that I’m interested in some #crypto role @USTreasury are also wrong.

— Chris Giancarlo (@giancarloMKTS) November 14, 2024

Speculation over the future head of the SEC comes as Donald Trump promised to remove Gensler following his re-election to the White House earlier this month. Other possibilities for the role include Hester Peirce, an SEC commissioner, Paul Atkins, a former SEC commissioner, and Mark Uyeda, a current SEC commissioner.

Giancarlo served as a commissioner at the Commodity Futures Trading Commission (CFTC) between 2014 and 2019. In January 2017, he was designated as acting chair of the CFTC and in August 2017 he was confirmed to serve as the chair until 2019.

In 2020, he co-founded the Digital Dollar Project, a non-profit forum focused on “digital money innovations” and the benefits of a US central bank digital currency (CBDC).

Gensler has been a controversial figure in the crypto market. Back in 2022, he said in an interview that the agency was increasing its oversight on crypto. One of the cases this is noted is its ongoing legal battle with Ripple.

However, earlier this week, Gensler hinted at a possible departure from the agency during a speech at the PLI’s 56th Annual Institute on Securities Regulation. During it, he said: “It’s been a great honor to serve with [the SEC staff], doing the people’s work, and ensuring that our capital markets remain the best in the world.”

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• The PancakeSwap Swap Bot expands PancakeSwap’s DeFi reach, reducing entry barriers and enhancing access.
• The Telegram bot allows trading 3,000+ tokens directly from Telegram.
• The bot ensures user security with end-to-end encryption and asset control.

PancakeSwap, a leading decentralized exchange (DEX) on the BNB Chain, has unveiled a Telegram Swap Bot to enhance accessibility. The Telegram Swap Bot will allow users to trade on PancakeSwap v2, v3, and stableswap from their Telegram app.

This bot will enable users to trade over 3,000 different tokens directly within the popular messaging platform, underscoring the growing integration of DeFi functionalities into everyday communication apps.

PancakeSwap taps into the vast Telegram user base

By embedding trading capabilities into Telegram, PancakeSwap is strategically tapping into a vast, tech-savvy user base familiar with the app, potentially lowering barriers to DeFi entry and expanding the reach of crypto trading to mainstream audiences.

While Telegram itself is primarily a messaging platform and not a dedicated financial application, PancakeSwap has incorporated measures to mitigate potential security risks. The bot leverages Telegram’s end-to-end encryption within its application programming interface (API), ensuring that users’ trading activities and personal data remain secure.

In addition, PancakeSwap has emphasized that users maintain control over their assets, similar to any interaction with a decentralized exchange.

According to a spokesperson for PancakeSwap, “Security is a top priority for PancakeSwap, and the Telegram Swap Bot is designed with this in mind. Users retain control over their funds just like any interaction with a decentralized exchange.”

Integration of financial tools into messaging apps

The introduction of this Telegram Swap Bot aligns with a broader trend of integrating financial tools into social and messaging apps.

Bitget CEO Gracy Chen recently highlighted the “symbiotic relationship” between Telegram, The Open Network (TON), and crypto trading, pointing to the app’s significant adoption in emerging market economies where crypto is increasingly popular.

By incorporating trading features into familiar platforms, DeFi services are more accessible, reducing entry barriers and promoting wider participation.

In addition to the Telegram Swap Bot, PancakeSwap recently advanced its portfolio management offerings. On October 30, the DEX integrated with DeFi protocol Bril Finance, enabling users to deposit tokens into single-asset vaults directly through the PancakeSwap interface. This integration features an innovative liquidity provision algorithm with automatic rebalancing, promising users higher risk-adjusted returns.

With these developments, PancakeSwap continues to position itself as a comprehensive DeFi hub, blending advanced portfolio management with seamless trading accessibility, further solidifying its presence in the decentralized finance landscape.

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• Furahaa Group will list FURA tokens on the INX platform on November 20, 2024.
• FURA tokens offer fractional ownership in Furahaa, expanding investment access.
• The partnership with INX combines blockchain security with financial inclusion.

Furahaa Group, a French plant-based fast food and vegan product distribution company, is entering the tokenization market with an upcoming listing of its FURA tokens on the INX Digital Company platform, a regulated marketplace for trading digital securities and tokenized real-world assets.

Set to launch on November 20, 2024, at 12 PM GMT+2, this marks a significant expansion into the tokenization market, offering investors the chance to purchase fractional ownership in the company via blockchain technology.

Furahaa’s fractional ownership through FURA tokens

Founded in 2015 by Arthur Devillers, Furahaa Group has quickly become a leader in the fast-growing plant-based food sector. Each of its branches generates approximately €1.2 million annually, and its franchise model, including Furahaa Express, is expanding across Europe and the US.

With the vegan market projected to reach $40.3 billion by 2030, Furahaa’s competitive pricing and high margins position the company as a compelling investment opportunity.

The listing of FURA tokens on INX offers a unique chance for global investors to engage in the rapidly growing plant-based market.

As digital securities, the FURA tokens will provide fractional ownership, enabling broader access to Furahaa’s equity. Investors can trade these tokens on INX’s blockchain-enabled platform, benefiting from the flexibility and liquidity of a decentralized market.

FURA tokens will be issued on the Ethereum blockchain as ERC-1404 tokens and as a result, combine the security of established blockchain infrastructure with the convenience of being tradable outside traditional market hours.

Shy Datika, CEO of INX, expressed excitement over the partnership, highlighting that the FURA token aligns with INX’s mission to democratize finance by bringing real-world assets to the blockchain.

Furahaa’s partnership with INX exemplifies how blockchain technology can transform traditional markets and offer more inclusive investment opportunities.

Arthur Devillers, founder of Furahaa, emphasized the company’s commitment to sustainable growth and financial inclusion.

By listing on INX, Furahaa aims to give a broader community of investors access to its mission-driven business, combining financial return with positive environmental and social impact.

As Furahaa Group continues its global expansion, the launch of the FURA token signals a new chapter in bridging sustainable business with innovative investment solutions.

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• The New York Post has published a news story alleging the Federa Bureau of Investigations has seized a phone and electronics from Polymarket CEO.
• Sources reportedly see this as political retriution after the betting market platform predicted the 2024 US election.

The Federal Bureau of Investigation has reportedly seized the phone and electronics of Polymarket chief executive officer Shayne Coplan.

On Nov. 13, the New York Post reported that the FBI seized Coplan’s phone early Wednesday, with sources saying FBI agents raided the Polymarket CEO’s home at 6:00 am. Per the NY Post news, Coplan was in his home in Soho when law enforcement officers seized the gadgets.

While the FBI took his items, the New York said citing sources, they did not detain the Polymarket CEO. Coplan has also not made any public comment on the report as at the time of writing. However, the Post alleges political retribution.

“The government is likely trying to accuse Polymarket of market manipulation and rigging its polls in favor of Trump,” the New York Post wrote, citing the unnamed sources.

FBI’s raid and confiscation of the items comes just a week after the betting market correctly predicted the win for Donald Trump in the presidential race.

The president-elect beat Democrat Kamala Harris and has begun to form his cabinet and team, including the formation of the Department of Government Efficiency headed by Elon Musk and Vivek Ramaswamy.

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• Curve Finance launches yield-bearing stablecoin, Savings-crvUSD (scrvUSD).
• scrvUSD stabilizes borrowing rates and enhances DeFi composability.
• Curve has partnered with The Open Network to boost ecosystem integration and efficiency.

Curve Finance, a leading decentralized finance (DeFi) platform, has launched a new decentralized yield-bearing stablecoin called Savings-crvUSD (scrvUSD) to offer low-risk returns for investors and further scale its crvUSD stablecoin.

The new product aims to stabilize the borrowing rates for crvUSD while enhancing composability within the DeFi ecosystem.

The scrvUSD stablecoin

Launched on November 13, 2024, the scrvUSD stablecoin allows users to mint the token by depositing crvUSD into the scrvUSD module. The underlying crvUSD is overcollateralized by digital assets such as Ethereum (ETH), Wrapped Bitcoin (WBTC), and others, providing security to users’ funds.

Crucially, Curve Finance has emphasized that funds in scrvUSD are not rehypothecated or moved from the vaults, ensuring that the stablecoin remains a safe and sustainable option for investors.

According to Curve Finance founder Michael Egorov, the scrvUSD module is already sustainable, with over 3 million crvUSD stored in the vault. This initiative is designed to offer stability to the DeFi ecosystem, addressing the volatility concerns associated with traditional stablecoins.

The introduction of scrvUSD also marks an important step in Curve Finance’s broader strategy to enhance composability within decentralized finance.

Composability refers to the ability of various DeFi applications to work together seamlessly, allowing users to access innovative financial products.

Curve Finance’s move to scrvUSD follows its earlier decision in June 2024 to adopt crvUSD as the primary fee distribution asset, signalling a shift towards further integration across DeFi platforms.

Curve Finance’s partnership with TON

Additionally, Curve Finance is expanding its ecosystem through a collaboration with The Open Network (TON). This partnership seeks to increase interaction and composability between the two decentralized networks, fostering new opportunities for traders and investors.

As part of this collaboration, a competition was launched to develop Curve’s Constant Functional Market Maker (CFMM) — a tool designed to curb volatility and market slippage, thus improving overall efficiency in the DeFi space.

Through these strategic moves, Curve Finance continues to reinforce its position as a pivotal player in the evolving DeFi landscape.

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