Per a Bloomberg report on Feb. 8, DWS Group CEO Stefan Hoops is currently in talks to buy a minority stake in Deutsche Digital Assets, a crypto exchange-traded products provider. It’s also in talks with Tradias, a market maker firm owned by Bankhaus Scheich — a traditional finance market maker.Continue Reading on Coin Telegraph More
According to a report by Vogue Business, a nine-member jury found Rothschild liable for trademark infringement, trademark dilution, and “cybersquatting,” awarding Hermès $133,000 in damages. Notably, the decision marks the first time the relationship between digital art, NFTs, and physical fashion has been addressed in court. Hermès argued that NFTs represent a new product category, while Rothschild argued that there is no such thing as a digital twin. Rothschild said he plans to appeal the verdict. Continue Reading on Coin Telegraph More
The application of Chapter 11 provisions to the crypto industry raises a series of new issues for courts. Here’s a preview of what creditors can expect, and what casual observers can learn about the implications of a Chapter 11 process for an entity in the crypto industry.Continue Reading on Coin Telegraph More
In the post, Zentner stated that LIFI strongly recommends “that Uniswap not select one bridge provider for its BNB Chain Deployment Proposal” because “no single AMB [arbitrary messaging bridge] is tested enough to be considered a robust and secure solution that a project of Uniswap’s size can solely rely on at this point.”Continue Reading on Coin Telegraph More
(Reuters) – A look at the day ahead in Asian markets from Jamie McGeever.With little on Thursday’s Asian economic data docket aside from Taiwanese inflation, investors will take their cue from Wall Street’s slide and deluge of Fed commentary on Wednesday, and await some key Chinese indicators in the days ahead.China’s economy is revving up its engines again after a prolonged COVID-19 lockdown stalling, and economists are having to adjust their forecasts just as quickly.Citi’s economic surprises index for China is now at its highest level since May last year. This may surprise no one, given how beaten down expectations were before Beijing’s sudden 180 degree turn on its zero-COVID policy in December.But still, the index currently stands at 64.8 and has been higher in only a handful of periods in the past 15 years. GRAPHIC: China economic surprises index – https://fingfx.thomsonreuters.com/gfx/mkt/byvrlkezgve/CESICN.png Of course, a high surprises index can be read two ways: are incoming numbers exceeding forecasts because they are strong in their own right, or because economists’ expectations were too gloomy to begin with?The running assumption is China’s reopening is inflationary for the world. Rising demand from one of the world’s largest consumers for commodities, oil, energy and resources will push up prices.But there is a countervailing impact from the increased supply of all the goods and components that China produces, such as semiconductors and manufactured goods.Inflation and inflation expectations around the world may be moderating, but policymakers continue to talk tough. India’s central bank on Wednesday raised rates as expected, but surprised markets by leaving the door open to further tightening, following Australia’s example on Tuesday.A raft of Fed officials on Wednesday signaled it is far too early to call victory on inflation, and so markets are pricing in U.S. rates staying higher for longer. Back to China, and data on Friday are expected to show monthly and annual consumer price inflation in January picking up to 0.7% and 2.1%, respectively. Meanwhile, lending figures in the coming days are expected to show a significant increase in activity in January. Beijing’s focus is on boosting growth, so further stimulus measures are likely this year. Here are three key developments that could provide more direction to markets on Thursday:- Taiwan inflation (January)- Japan money supply (January)- Germany inflation (January, prelim) (By Jamie McGeever; Editing by Josie Kao) More
Ethereum Name Service (ENS) DAO has decided to diversify its treasury holdings to better weather the bear market and any potential decreases in crypto prices.The governing body behind the most popular blockchain domain protocol has voted in favor of a proposal to swap 10,000 ETH for USDC. Almost 90% voted in favor of the proposal, including ENS founder Nick Johnson, former ENS Labs employee Brantley Milligan, and well-known developer Lefteris Karapetsas..tweet-container,.twitter-tweet.twitter-tweet-rendered,blockquote.twitter-tweet{min-height:261px}.tweet-container{position:relative}blockquote.twitter-tweet{display:flex;max-width:550px;margin-top:10px;margin-bottom:10px}blockquote.twitter-tweet p{font:20px -apple-system,BlinkMacSystemFont,”Segoe UI”,Helvetica,Arial,sans-serif}.tweet-container div:first-child{
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}The ENS DAO expects to get more than $13 million for its 10,000 ETH sale, which it will use to cover operating expenses for the next 18-24 months. The 10,000 ETH represents around 25% of the total 40,746 ETH ($67 million) held by the ENS DAO.While the overwhelming majority voted in favor of the ENS DAO’s intentions to derisk its treasury, there were lengthy discussions about the fact that the DAO wants to sell its ETH in a single transaction.Some ENS community members were perplexed by the ENS DAO’s proposal to sell its 10,000 ETH in one single transaction through a decentralized exchange aggregator CoW Swap.A lot of users were in favor of selling the ETH over time in smaller chunks. However, the ENS DAO ultimately decided to stick to its original plan to sell the ETH in one transaction. That’s because selling in smaller orders would require multiple governance votes for each sale.At the same time, there were others like a user named Ronald who pointed out that by selling a decentralized currency for USDC, a centralized stablecoin, the ENS DAO is actually taking up more risk.“This shows how out of touch the DAO is with reality. USDC has a blacklist function, and the US government only needs to put a gun to one man’s head to KYC trap the funds. The DAO will have little recourse to recover the funds in this instance as the ENS token will be considered an illegal security if things get to this point.”
They also added that the ENS DAO’s decision to choose USDC over DAI, a decentralized stablecoin, is “absolute evil.”The ENS DAO’s decision to sell 10,000 ETH could make a significant short-term impact on the price of ETH. Users might want to consider following this story to better position themselves ahead of the sale.You Might Also Like:ENS DAO’s Controversial Buying/Gifting Bypass Proposal Sparks Fury Among ENS Community Over Domain Registration: Here’s What HappenedSee original on DailyCoin More
The company announced its plans to go public in January 2022 through a merger with the SPAC company Arisz Acquisition Corp, anticipating to be publicly listed in the third quarter of that year and a pro forma enterprise value of nearly $1.5 billion. The new decision will postpone the public listing to May, helping the companies to consummate the business combination. Continue Reading on Coin Telegraph More
According to a report by the Fintech Times, Fujitsu’s Web3 Acceleration Platform seeks to provide a development environment, blockchain-based service APIs, high-computing technologies, simulations, AI, combinatorial optimization, for start-ups, partner companies, and universities building Web3 applications and services. Continue Reading on Coin Telegraph More
