Aurelia Butler

More stories

  • 100 Shares99 Views

    in Cryptocurrency

    MANTRA Brings Real-World Assets Onchain with Mainnet Launch

    MANTRA, a purpose-built layer 1 blockchain for tokenized real-world assets (RWAs) has announced it will launch its highly anticipated Mainnet in October 2024. This milestone event marks a significant step in bringing traditional finance onchain and provides a new home for MANTRA’s native token, $OM.MANTRA Chain will provide a comprehensive and customizable suite of tools allowing developers to tailor solutions based on their specific needs. This suite not only simplifies the process of bringing real-world assets onchain, but also ensures the solutions remain compliant with regulatory requirements. As part of MANTRA’s vision to become the preferred ledger of record for real-world assets, the MANTRA Chain Mainnet will include key features such as:For more information about MANTRA, the mainnet launch and the company’s ambitions for the RWA ecosystem, visit mantrachain.io.###About MANTRA:MANTRA is a purpose-built Layer 1 blockchain for real-world assets, capable of adherence to real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.Website | Twitter | LinkedIn | Discord ContactMarketing LeadChristoph [email protected] article was originally published on Chainwire More

  • 100 Shares179 Views

    in Cryptocurrency

    Cypher Capital Backs $15M Hemi Labs Seed Round

    Cypher Capital, a multi-strategy crypto investment firm, today announced its role in a $15 million seed funding round for Hemi Labs, a modular blockchain network unifying Bitcoin and Ethereum. Hemi Labs will use the funds to develop and launch the Hemi Network, utilizing funds from Cypher Capital to advance blockchain technology and enhance interoperability by developing a unified supernetwork.The round comes after Hemi’s recent incentivized testnet launch, and a mainnet launch targeted for Q4 2024. Participation from numerous investors includes Binance, Breyer Capital, Big Brain Holdings, Crypto.com, HyperChain Capital, Alchemy, SALT Fund, Kelly Capital, Sunflower Capital, DNA Fund, Web3 Ventures, Quantstamp, TRGC, UTXO, Artichoke Capital, SNZ Holding, Capital6, IBG Capital, Protein Capital, MON Ventures, SV5, Impossible Finance, Jihan Wu (Bitdeer), and George Burke (Portal), among others.“Hemi Labs is at the forefront of blockchain interoperability,” said Vineet Budki, CEO of Cypher Capital. “Their approach to integrating Bitcoin and Ethereum into a cohesive supernetwork addresses key scalability and security challenges, and our investment aligns with their mission to transform blockchain infrastructure and unlock new possibilities for decentralized applications.”Unlike traditional efforts to integrate Bitcoin and Ethereum within their own ecosystems, Hemi Labs is developing a unified supernetwork. Hemi Network will include the Hemi Virtual Machine (hVM), integrating a full Bitcoin node within an Ethereum Virtual Machine (EVM), allowing developers to create cross-chain smart contracts with familiar tools while ensuring compatibility with existing EVM dApps and wallets. The Hemi Bitcoin Kit (hBK) facilitates direct smart contract access to granular Bitcoin state for advanced Bitcoin-native applications such as staking and lending markets.The network also boasts Superfinality through Hemi’s Proof-of-Proof (PoP) consensus mechanism, ensuring Bitcoin-level security in a decentralized, permissionless manner and provides Bitcoin-security-as-a-Service to other blockchain networks. Hemi’s Tunnels will offer trustless cross-chain portability, improving upon traditional bridge methods. Additionally, Hemi will feature on-chain routing, time-lock, password protection, and gasless transfers for seamless asset movement without relying on native chain currencies.Cypher Capital is a leading early-strategy venture firm focused on investing in Web3 infrastructure and applications that will drive the new digital economy. Guided by environmental, social, and governance for every investment decision, Cypher is shaping the future of digital currency, public markets, and Web3. Website | Blog | LinkedIn | Telegram | Instagram | Facebook (NASDAQ:META) | Youtube | X About HemiThe Hemi Network (“Hemi”) is a modular blockchain powered by Bitcoin and Ethereum that provides superior scaling, security, and interoperability. Hemi views Bitcoin and Ethereum as components of a broader supernetwork, unlocking new levels of programmability, portability, and potential. Hemi Labs is a leading developer of Web3 infrastructure and tooling, founded by renowned Bitcoin developer Jeff Garzik, and blockchain security pioneer Max Sanchez. Learn more at https://hemi.xyz/. ContactMedia ManagerShameem [email protected] article was originally published on Chainwire More

  • 150 Shares149 Views

    in Cryptocurrency

    MatrixPort and exSat establish Comprehensive Strategic Partnership to Drive Bitcoin Ecosystem Innovation

    MatrixPort, a leading digital asset financial services platform and exSat, a breakthrough Bitcoin scalability solution, have entered into a comprehensive strategic partnership. By leveraging their respective strengths, they aim to accelerate the growth and application of the Bitcoin ecosystem, marking the start of a new era in Bitcoin development.MatrixPort, a global one-stop digital asset financial services platform, brings extensive industry experience, robust technology, and a large user base to offer secure, convenient, and efficient digital asset trading and wealth management services. exSat Network focuses on developing unique scalability solutions for Bitcoin. Through the unique On-Chain UTXO data index, 1 second instant transaction confirmation, and secure asset custody solutions, it provides the Bitcoin network with more powerful scalability, functionality and interoperability, enabling new Bitcoin application scenarios.This powerful collaboration plays to the advantages of both parties and brings multiple benefits to the Bitcoin ecosystem. MatrixPort’s expertise and user base will support the rapid development of exSat, while exSat’s innovative technology will offer MatrixPort users more investment options and a superior experience. Together, they are committed to driving Bitcoin adoption and utility, revitalizing the Bitcoin ecosystem, and creating more value for users worldwide.This strategic partnership will focus on the following key areas:Unlocking Bitcoin Liquidity: Ushering in a New Era of BTCFiMatrixport will provide nBTC on the exSat platform, a new Wrapped BTC version of the product that is 1:1 anchored with Bitcoin. They plan to provide 5,000-10,000 nBTC on the exSat mainnet to boost liquidity and support exSat’s PoW+PoS consensus mechanism.The issuance of nBTC will become a bridge connecting Bitcoin and the exSat ecosystem, achieving seamless interoperability. Users can convert native BTC to nBTC via MatrixPort and utilize it on exSat for various BTCFi applications such as staking, lending, and trading.The issuance of nBTC holds significant implications in a context where 94% of Bitcoin has already been mined:Key areas of focus include:Building a Secure Bitcoin Ecosystem to Protect User AssetsMatrixPort and exSat recognize that security is the cornerstone of Bitcoin ecosystem development. They will collaborate strategically to build an unbreakable on-chain security defence, safeguarding user assets.The partnership will integrate MatrixPort’s extensive security experience and exSat’s leading blockchain technology to enhance security in multiple areas:ContactCMOTristan [email protected] article was originally published on Chainwire More

  • 138 Shares189 Views

    in Cryptocurrency

    Bitcoin price today: hovers around $60k ahead of rate cut call

    Bitcoin rose 0.6% to $59,964.0 by 09:13 ET (13:13 GMT), after flitting in a trading range of $50,000 to $60,000 for most of September.Broader cryptocurrency prices also rose as markets positioned for lower U.S. interest rates, which are expected to benefit risk-driven, speculative assets.Data this week showed BlackRock’s iShares Bitcoin Trust saw its first day of inflows in two weeks on Monday, breaking a sustained run of outflows seen since mid-August.The inflows marked some turnaround in sentiment after uncertainty over the U.S. presidential election, interest rates and a potential recession weighed heavily on crypto prices across the board.But trading volumes in U.S. Bitcoin ETFs still remained well below highs seen earlier this year, as enthusiasm over the ETFs petered out, especially amid retail traders.Software firm MicroStrategy Incorporated (NASDAQ:MSTR) bought about $1.1 billion worth of Bitcoin between August 6 and September 12, the company disclosed last week, furthering its spot as the biggest corporate holder of the token. The company holds about $9.5 billion worth of Bitcoin.The company said this week it will raise about $700 million through a private issuance of convertible bonds due 2028, which will be deployed towards redeeming earlier debt obligations and buying more Bitcoin.Broader cryptocurrency prices drifted higher in anticipation of a widely expected interest rate cut by the Federal Reserve later on Wednesday.World no.2 crypto Ether fell 0.4% to $2,319.94, while altcoins XRP, Solana, (AS:MATIC) and Cardano moved in a flat-to-low range.Among meme tokens, Dogecoin added 0.25%.The Fed is widely expected to cut interest rates at the conclusion of a meeting later on Wednesday. While markets were initially split between bets for a 25 or 50 basis point cut, CME Fedwatch showed traders growing more biased towards a bigger cut in recent sessions.Lower rates free up liquidity that can then be deployed into risk-driven, speculative assets such as crypto.In other developments, Australia’s central bank plans to shift its focus from developing a consumer-facing retail Central Bank Digital Currency (CBDC) to a wholesale CBDC, Financial System Assistant Governor Brad Jones revealed at a fintech conference in Melbourne.Unlike a retail CBDC, which the general public could use for everyday transactions such as buying groceries, a wholesale CBDC is intended for transactions between banks and financial institutions, including cross-border payments. Jones emphasized that the bank sees “the benefits to the economy as more promising, and the challenges less problematic, for a wholesale CBDC compared to a retail version.”“This recognizes that unlike a retail CBDC that would be issued for use among the public, a wholesale CBDC would represent more an evolution than revolution in our monetary arrangements,” he added.In addition, the Reserve Bank of Australia has committed to a three-year research initiative called Project Acacia, which will explore the future of digital money in the country. This will include a project focusing on wholesale central bank digital assets and tokenized commercial bank deposits, with the aim of understanding how concepts like “programmability” and “atomic settlement” in tokenized markets could benefit the Australian economy.Ambar Warrick contributed to this report.  More

  • 88 Shares159 Views

    in Economy

    France’s Barnier swept into growing budget crisis

    PARIS (Reuters) -French Prime Minister Michel Barnier came under pressure on Wednesday to clarify how he will plug a gaping hole in the public finances as the central bank and public audit office warned spending cuts and tax hikes are inevitable.Barnier only took office earlier this month, but already finds himself facing a growing budget crisis as tax income comes in weaker than expected and spending higher than planned, pushing France’s deficit reduction targets out of reach.”The budget situation that I have discovered is extremely dire,” Barnier said in a statement, adding that he was seeking more information to establish the “exact reality”.Barnier, a veteran conservative politician and former EU Brexit negotiator, is running out of time to name a finance minister and hand lawmakers a 2025 budget bill, which the law in theory requires by Oct. 1 although some wiggle room is possible.But to rein in France’s worse than expected budget deficit, Barnier must tread carefully to not irritate opposition parties who could join up and topple his government with a no confidence motion in the deeply divided parliament.TOUGH CHOICESBarnier’s options are simple – cut spending, raise taxes or take more time to cut the deficit – but calibrating the mix to placate opposition lawmakers is hugely complex.The least politically contentious option is to seek more time from the European Commission and France’s EU partners to bring its deficit in line with the bloc’s 3% of GDP limit, pushing it several years beyond the current 2027 target.The head of the public audit office, Pierre Moscovici, said sticking with the current target of meeting the EU limit in 2027 would require 100 billion euros ($111 billion) in spending cuts, throttling growth in the euro zone’s second-biggest economy.”We need to be more realistic, it seems to me. I think the European Commission would always prefer the truth is told and that targets are realistic rather than untenable,” Moscovici said.Moscovici, a former EU economics commissioner, called for targeted budget savings rather than broad cuts and said France had little room to raise taxes further as they were already among the highest in the world. In addition to seeking more time, central bank governor Francois Villeroy de Galhau said the deficit-reduction drive should consist of three-quarters of budget savings and one quarter tax increases.However, Barnier’s own conservative Republicains party has said tax hikes are a red line and even some of President Emmanuel Macron’s own lawmakers are reluctant to see his legacy of tax cuts rolled back.Outgoing Interior Minister Gerald Darmanin said he could not support a government that hikes taxes when he stands down and returns to parliament as a lawmaker in Macron’s camp.”Let’s not break the economic machine, taxes are an easy way out,” Darmanin said on France 2 television. “We think budget cuts also have to be found.”Macron has reduced the French tax burden by 55 billion euros since he first came to office in 2017, which leftwing parties say has been a gift to the wealthy and big companies and should now be reversed.”Completely excluding tax hikes is not realistic,” Villeroy told BFM TV on Wednesday, adding an “exceptional effort” should not be excluded by corporate and well-off taxpayers as long as the deficit is above 3% of GDP.Barnier has so far been ambiguous about where he stands, saying shortly after being appointed that France needs more tax justice and saying on Wednesday taxes were already heavy.”My objective is to return to growth and improve the French people’s standards of living at time when we are already the country where the tax burden is the highest,” Barnier said.($1 = 0.8985 euros) More

  • 88 Shares149 Views

    in Economy

    US single-family housing starts surge in August

    Single-family housing starts, which account for the bulk of homebuilding, surged 15.8% to a seasonally adjusted annual rate of 992,00 units last month, the Commerce Department’s Census Bureau said on Wednesday. Data for July was revised higher to show starts falling to a rate of 857,000 units instead of the previously reported 851,000 pace. Some of the decline in starts in July was blamed on Hurricane Beryl. A surge in mortgage rates in spring weighed on home sales, resulting in excess supply of newly built houses. Existing home inventory has also risen, reducing the incentive for builders to construct new houses.Mortgage rates have since retreated to 1-1/2-year lows and could drop further, with the Federal Reserve expected to start its policy easing cycle on Wednesday. Given the supply overhang, economists do not expect a sharp increase in new construction. A National Association of Home Builders survey on Tuesday showed homebuilder sentiment improved marginally in September after sliding for four consecutive months, but noted that “builders will face competition from rising existing home inventory in many markets as the mortgage rate lock-in effect softens with lower mortgage rates.”New housing supply is near levels last seen in early 2008. Permits for future construction of single-family homes increased 2.8% to a rate of 967,000 units in August. More

  • 150 Shares159 Views

    in Economy

    Any bank merger in Germany must create competitive lender, Bundesbank chief says

    Italy’s second-largest bank took a 9% stake in Commerzbank last week, catching German authorities off guard and getting a hostile reception from local management, who want to fend off any takeover attempt.It will now be up to the European Central Bank whether to allow UniCredit to increase its stake, so any comment from the Bundesbank – whose representative sits on the ECB’s Supervisory Board – is likely to be closely scrutinized. “We need strong and robust banks so that companies can tackle and finance their future tasks,” Nagel told a Commerzbank event in Frankfurt.”In case of possible mergers, it is important that a competitive institution is created which fulfils this task as best as possible,” Nagel said, without any specific reference to either of the lenders. UniCredit is among the best capitalised banks in Europe, with a common equity tier 1 or CET1 capital ratio of 16.2% at the end of the first half, despite a generous dividend and share buy-back programme. This would suggest that UniCredit has the financial capacity to engineer a viable takeover. However, any deal is likely to be politically charged since Germany’s banking sector is dominated by two large institutions: Deutsche Bank and Commerzbank. The sale of Commerzbank to UniCredit would increase competition for Deutsche Bank and leave Commerzbank under foreign control, a potentially sensitive issue for a government facing elections next year. However, the ECB has repeatedly voiced support for cross-border mergers to improve European banking competitiveness, so the supervisor is unlikely to block the deal if UniCredit can present a plan that creates a financially sound mega-bank. More

  • 125 Shares189 Views

    in Economy

    Indonesia’s central bank front runs Fed with surprise rate cut

    JAKARTA (Reuters) -Indonesia’s central bank delivered its first rate cut in more than three years on Wednesday, just hours ahead of the widely expected start of the U.S. Federal Reserve’s easing cycle in efforts to bolster growth in Southeast Asia’s largest economy.Bank Indonesia (BI) unexpectedly trimmed the benchmark rate by 25 basis points to 6.00%, its first rate cut since February 2021. Only three out of 33 economists polled by Reuters had predicted the move, while the rest expected no change.The decision is consistent with BI’s expectation inflation will remain low in 2024 and 2025, and the rupiah staying stable, BI governor Perry Warjiyo said. It also aligns with BI’s efforts to bolster economic growth, he added.A clearer direction on monetary policy moves by the Fed, a bigger drop in U.S. Treasury yields and tendency for the dollar to ease have given BI the window for the rate cut, he said.”These three factors were very different from last month…so we did not have to wait for the Fed funds rate decision,” Warjiyo said. “The time is right,” he said.BI will continue to assess room for further easing, the governor said. BI’s monetary policy stance is now a balance between stability and growth, Warjiyo said, switching from its previous “pro-stability” stance.The rupiah had been under pressure earlier this year in response to changing risk appetite in global financial markets, but has since reversed those losses against the U.S. dollar to be trading slightly firmer than last year’s close. The main stock index is also up 7.8% so far this year in a sign of returning capital inflows.”Recent rupiah gains and markets pricing in a near certain cut by the U.S. Fed, likely offered BI the headroom to kick-start the easing cycle earlier,” said DBS Bank economist Radhika Rao. “For now, we expect one more rate cut by end year.” The currency briefly weakened after BI’s announcement, but regained its losses to stand at 15,330 per dollar by market close.Warjiyo said BI will continue using its monetary operation instruments to attract capital inflows, as well as conduct market intervention when necessary to support the rupiah.Inflation returned to within BI’s target range in mid-2023 and has remained there since. The inflation rate in August of 2.12% was the lowest annual rate since February 2022.The central bank maintained the 2024 GDP growth forecast at 5.1%, the midpoint of its 4.7% to 5.5% range, but growth in 2025 may be higher than the midpoint of its 4.8% to 5.6% outlook range, Warjiyo said.These forecasts, Warjiyo said, suggested the economy was doing well, but it needed further stimulus to grow even faster.BI said among factors for the rate cut was that it would help fiscal financing by lowering bond yields.On Tuesday, a parliamentary budget committee approved a 6% rise in spending for the incoming government of President-elect Prabowo Subianto, who is set to take office next month.Capital Economics’ Gareth Leather said inflation is unlikely to emerge as a concern for BI anytime soon, giving the central bank room to further cut rates. The consultancy has revised its outlook for BI’s end-2024 benchmark rate to 5.50%, from 5.75% previously, in light of Wednesday’s cut and BI’s dovish commentary, Leather said. More