• MakerDAO bringing Bitcoin to Ethereum
    Alt coins,  Bitcoin,  Ethereum

    MakerDAO bringing Bitcoin to Ethereum blockchain

    It’s hoped the addition of ‘wrapped Bitcoin’ will give the DeFi sector a much-needed boost, but bridging the two blockchains is fiddly to say the least; tBTC pitched as a better alternative

    Wrapped Bitcoin—an ERC-20 token that is backed on a 1:1 basis with BTC—is now being accepted as collateral for MakerDAO loans. It’s a significant development, not least because the crypto community has lamented the lack of a bridge between BTC and ETH for some time.

  • Huobi DM putting brakes on margin calls
    Cryptocurrencies,  Technology

    Huobi DM putting brakes on margin calls

    The new feature should slow or stop borrowers’ assets being automatically liquidated after sudden price crashes, which can cause “extensive user losses”

    Derivatives trading platform Huobi DM has announced a new feature designed to “minimize user exposure during times of severe market volatility” in digital assets. Its solution is to unveil a new mechanism that performs liquidation gradually.

  • MakerDAO adds centralized USDC
    Alt coins,  Cryptocurrencies,  Ethereum

    DAI another day: USDC can be used as collateral at embattled MakerDAO

    Coinbase and Circle’s USDC stablecoin is now being accepted to back loans, raising questions of centralization at the ‘pure’ DeFi coin

    A major reservation with accepting USDC as collateral lied in how the stablecoin is centralized. This is a significant departure from Maker’s stance of ensuring DAI is only backed by decentralized assets—as USDC is the brainchild of Coinbase and Circle, major players in the crypto industry. As MakerDAO’s (now out of date) white paper noted: “Unlike other Stablecoins, DAI is completely decentralized.”

  • Sean who? (via C-SPAN).
    Alt coins,  People

    Circle sheds another business, three executives

    The blockchain payments firm sold its Circle Trade OTC operation to Kraken, while CFO Naeem Ishaq joined co-CEO Sean Neville in heading for the door

    Six-year-old blockchain payments firm Circle announced on Dec. 17 that it has sold its Circle Trade over the counter (OTC) desk to the Kraken cryptocurrency exchange. The firm also said in addition to co-CEO Sean Neville—whose departure was announced on Dec. 4—CFO Naeem Ishaq and Chief Legal Officer Gus Coldebella were “transitioning from the company into new adventures befitting their expertise.”

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