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Aave protocol has raised $25 million from investors as it seeks to continue developing DeFi projects. Funds were raised from three investment firms. Aave revealed on Twitter that the DeFi protocol had successfully secured funding from three firms. Blockchain.com Ventures, Blockchain Capital, and Standard Crypto were the firms that partook in the latest funding round, which raised $25million. Blockchain.com ventures are the investment body of popular crypto wallet provider Blockchain.com, and its investment in Aave shows the potentials within the DeFi…

The Chinese digital yuan trial has gone life following the big announcement made last weekend. During the weekend, China's southern city of Shenzhen, a major Chinese city, announced that it was giving away 10 million yuan ($2 million) in its Central Bank Digital Currency. According to them, the digital yuan can be used across 3,389 stores. The main objective of the giveaway is to encourage the usage of the new government-backed digital currency. Close to 2 million people applied to…

Popular cryptocurrency exchange and card provider, Crypto.com has released its latest interest rate for the crypto assets available on its soft staking program.  Users can earn passive income with soft staking by just having a balance in their crypto.com exchange wallet. No commitment or lockup period is required for the staked assets. However, how much reward a user can earn depends on their daily wallet balances.  The feature is available for 26 cryptocurrencies, including Bitcoin, Ethereum, USDT, XRP, and 23…

Following the recent court filings against BitMEX and its founders for rules violation, the cryptocurrency derivatives giant seems to take the necessary steps to make things right.  Announcing Monday, 100X Group, the holding group for HDR Global Trading Limited, owner and operator of the BitMEX exchange, said it had appointed Malcolm Wright as the company’s new Chief Compliance Officer (COO).  Interestingly, Malcolm Wright is an expert in compliance and anti-money laundering (AML) with over 30 years of experience.  The new COO…

Telsa CEO Elon Musk has denied reports that there is a Bitcoin ATM at his company’s Gigafactory in Nevada. Bitcoin ATM Spotted at the Telsa factory. Fold CEO Will Reeves had tweeted on Sunday that he spotted a Liberty X Bitcoin ATM in the 1.9 million-square-foot Gigafactory building. His tweet went viral, prompting speculation that Telsa could be interested in investing in Bitcoin. However, this information was debunked by Musk, who revealed in a cryptic tweet that the news was…

Ethereum miners made a huge fortune in September thanks to the Decentralized Finance boom, which resulted in a steep increase in Gas fees on the Ethereum Network. The rise and fall of decentralized finance (DeFi) 2020 has been the year of decentralized finance (DeFi), as this sector has garnered massive popularity and interest within the crypto community. Although DeFi has been spoken of for many years, nobody predicted the massive rise this year. DeFi protocols boomed overnight, with tons of…

Currently, around 80% of the world’s central banks are looking into digital currency, but China has been exploring the idea since 2014, who is in the lead. The country is already quite advanced in digital payments, with 83% of digital transactions already being made through mobile devices instead of 17% through cash or bank cards. The majority of these are made through Alipay or WeChat. But now there is a new service on the horizon. The People’s Bank of China…

Get the weekly summary of cryptocurrency market trends, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $358 billion. Bitcoin manages to get above $11,000 and stay there. Ethereum is up by more than 8% as it climbs above $370 XRP is also up by 8% as it breaks the $0.25 resistance level CFTC’s legal charge on BitMEX leads to high-profile resignations and arrests John McAfee got arrested in Spain and…

The term blockchain has never been as ubiquitous as it is. It isn't uncommon to hear it popping in everyday conversations. Its mention almost always conjures up images of cryptocurrencies and, in particular, Bitcoin. Although it has found prominence in the cryptocurrency world, it has a myriad of applications elsewhere. In this guide, we explore how different enterprises adopt it in executing their functions. To begin with, let us differentiate the significant types of blockchains. Also, it is essential to…