Author: dfmines

Following a number of partnerships this year, FTX Trading Limited announced on Thursday that the company has partnered with the Mercedes-AMG Petronas Formula One Team. According to FTX, the relationship will “span multiple race seasons” and the FTX logo will be “featured prominently” by both cars and drivers. FTX Teams up With Mercedes F1 in […]

If you were old enough when the 2008 recession started and saw how quickly things were happening, you might have been surprised to hear that over a decade later, not a single person went to prison as a result of their nefarious actions. You might shrug and say it's always been that way, but it's…
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coingecko.com has put on their bitcoin page: "We have received reports that the bitcoin.org website is temporarily compromised and inaccessible. As a caution, never reveal your seed phrase and any promise to "Double your Crypto" is a scam." (Bitcoin site has been fixed) I'm not affiliated with coin gecko in any way. I also like…
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Increasing trading volume at Uniswap, a rising TVL and upgrades to its DeFi platform were followed by a new all-time high from LCX.

Nervos, a collection of crypto protocols and public blockchain ecosystem, today announced it will be integrating both its testnet and mainnet with Covalent, a provider of indexing solutions for blockchains. With the integration, Nervos is expanding the availability of data on the network and simplifying the experience for developers building on Polyjuice, an Ethereum Virtual…
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There’s truly never a dull moment in DeFi. Reports have emerged this week that interest-yielding platform Nexo is pursuing an acquisition of an SEC licensed broker dealer with the intent to offer a “modified version” of the company’s products. How this would impact their current offering is unclear. The move comes at a time of seemingly increased rocky roads for DeFi platforms. Interest-Generating Products & Disruptive DeFi Along with the company’s pursuit of a licensed broker dealer, Nexo is also in talks with nationally chartered banks. The platform is reportedly interested in finding a chartered bank partner that will sell Nexo products, likely with the intent to have better buy-in with U.S. regulators. Additionally, reports state that the platform is looking at applying for an exemption to offer securities to non-accredited investors. Nexo is a London-based platform, which may play out to be a substantial advantage versus competitors that are stateside. In recent weeks, U.S. state regulators have started to focus on DeFi platforms that are U.S.-based, namely Celsius and BlockFi. Regulators in a handful of states in the U.S. have begun issuing cease and desist demands for both firms. Meanwhile, major U.S.-based exchange Coinbase has been in a back-and-forth with SEC with regards to the exchange’s potential interest-yielding product, Coinbase Lend. Coinbase seems to have now placed an indefinite hold on a timetable for Lend, should the product even come to life at all. Nexo is likely taking a close eye to see how these situations play out in the coming months, so they can position themselves accordingly when stateside regulators start eyeing non-U.S. based interest yielding firms that are operating in the states. Native platform tokens, like $NEXO, have stayed away from U.S. integration as regulatory decisions still leave outcomes in question. | Source: NEXO-USD on TradingView.com Related Reading | Bears Lose Hold On Market As Bitcoin Breaks $44,000, Crypto Market Tops Up $200 Billion The Road Less Traveled During the midst of the DeFi madness with regulators, Nexo has still been building on it’s capabilities and offerings. In an email this week, the firm announced the addition of top-ups, withdrawals, and borrowing and earning with DOGE. At the beginning of September, the platform crossed 2M users. And last month, the platform introduced free and instant transfers from one Nexo wallet to another, as well as unlimited free internal withdrawals. Nonetheless, Nexo co-founder Antoni Trenchev has said that overseas exchanges will have to “cross the same bridge” that Celsius and BlockFi are currently having to cross, in due time. “We haven’t quite decided on the particular variations of the exemptions and exactly how we’re going to structure this,” added Trenchev. Will Nexo have the advantage of seeing how things play out for U.S. based firms, or will overseas platforms be subject to increased scrutiny? Consumers are left waiting for the snail-paced regulatory movement to determine how things play out. Related Reading | Did The SEC’s Gary Gensler Threaten Crypto And DeFi In The WaPo Interview? Featured image from Nexo.io, Charts from TradingView.com