MakerDAO Invests $500 Million in Treasuries, Bonds

MakerDAO, the governing body of the Maker Protocol, has initiated steps towards a plan of reallocating $500 million of its stablecoin Dai collateral reserves into short-term United States treasuries and corporate bonds, as reported by Cointelegraph. According to Cointelegraph, the decentralised autonomous organization (DAO) voted on October 6 to permit a pilot transaction worth one…

Ethereum Expands Blockchain Capacity by 25%

Ethereum’s network capacity has been expanded by the mining community to allow more transactions to be processed on the network per second. This is in light of increased traffic on the network, largely due to controversial stablecoin Tether and a gambling game called Fair Win. Ethereum co-founder Vitalik Buterin relayed last week that block producers…

Fidelity-Backed Crypto Analytics Firm Coin Metrics to Integrate Twitter-Based Crypto Sentiment Feed

Crypto analytics firm Coin Metrics partnered with Social Market Analytics (SMA) to collaborate on a feed of real-time sentiment towards cryptocurrency based on social media data, according to a press release on June 17. The new partnership intends to collect and analyze data posted by crypto community on social media in order to provide a…

Facebook Sets Up Libra Networks in Switzerland

Facebook has reportedly set up a fintech company dubbed Libra Networks in Switzerland. The move clearly correlates with the social media giant’s Project Libra. According to Reuters, the focus of the fintech is on the blockchain, payments, data analytics, and investing. Libra Networks, which was registered in Geneva on May 2, will provide financial and…

Switzerland Paves the Way for Crypto Regulation

F. Scott Fitzgerald wrote that, “Switzerland is a country where very few things begin, but many things end” — It’s unfortunate that blockchain was not of his time, as he may have been convinced otherwise! Although Switzerland has always been a welcoming land for banking and finance, the manner in which the Swiss Government has…

Facebook Seeking $1 Billion in Funding for Crypto Project

Social media giant Facebook is said to be seeking to raise as much as a billion dollars in outside funding for its cryptocurrency project. Nathaniel Popper, a technology reporter at The New York Times, tweeted Monday that sources have said Facebook is targeting “big sums – as much as $1b” from venture capitalists to support…

Swiss Crypto Firm X8 AG Gets Islamic Finance Certification for Sharia Compliant Stablecoin

Switzerland-based fintech firm X8 AG has received a certification from the Shariyah Review Bureau (SRB) for its Ethereum-based Sharia Compliant stablecoin, Reuters U.K. reports Nov. 12. SRB is a leading Sharia consultancy and audit firm licensed by the central bank of Bahrain. It reportedly has a presence in twelve countries, and holds the market share…