• MakerDAO debt auction
    Cryptocurrencies,  Ethereum,  Technology

    MakerDAO debt auction achieves its goal, late bidders reap reward

    Bad debt worth millions of dollars has been covered through the debt auction, but compensating people wiped out by 0 dai bids is still being debated

    MakerDAO has nearly wrapped up its first-ever debt auction—an event designed to cover millions of dollars in bad debt triggered by the ether flash crash on March 12. It seems that those who participated in the debt auction early got a bad deal compared with those who waited to take part later.

  • Buterin wants bitcoin-ether DEX
    People,  Technology

    Vitalik Buterin: Lack of bitcoin-ether bridge ‘embarrassing’

    In a candid tweet, the Ethereum co-founder said it was ‘embarrassing that we still can’t easily move between the two largest crypto ecosystems trustlessly’

    Ethereum co-founder Vitalik Buterin has called for a decentralized exchange to be built that enables swaps between bitcoin and ether. At present, those who want to convert their BTC into ETH, or vice versa, have little choice but to rely on centralized crypto exchanges, which often charge fees.

  • Spencer Dinwiddie Cred savings platform
    Cryptocurrencies,  People

    NBA star Spencer Dinwiddie teams up with Cred for crypto lending, savings

    With plans to tokenize his salary yet to materialize, the Brooklyn Nets’ guard is offering fans 10% interest and cryptocurrency-backed loans.

    As he still battles to tokenize his lucrative NBA contract, Brooklyn Nets star Spencer Dinwiddie has come up with a back-up plan: offering a savings platform for cryptocurrencies. Through the partnership with Cred, a California-based lender, users can “pledge” digital assets such as Bitcoin and Litecoin—as well as stablecoins including Tether. In return, Dinwiddie says he is promising up to 10% interest at maturity

  • Crypto funding shifting from US to China
    Cryptocurrencies

    Go East: Crypto funding shifting from US to China, report says

    In 2015, just 2% of cryptocurrency and blockchain deals were for Chinese companies. Fast forward four years to 2019, and the figure soared to 22%

    In it Blockchain Report 2020, CBInsights said 51% of deals in the industry were for US-based companies four years ago, while only 2% was earmarked for Chinese businesses. According to the latest figures, China’s share of deals is 22% in 2019, while America’s share dwindled to just 31%.