ALSO: Hong Kong reengages crypto industry, Visa files NFT patent and more |
The biggest crypto news and ideas of the day |
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Hello and welcome to The Node. This is Daniel Kuhn and Xinyi Luo, here to take you through the latest in crypto news and why it matters. In today's newsletter: |
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Hong Kong Reconsiders Stance on Crypto ETFs, Tokenized Securities and Retail Trading: Hong Kong's Financial Services and Treasury Bureau claimed that it's ready to engage with virtual asset service providers and invite them to the city in a policy statement. If proper safeguards are put in place, Hong Kong is prepared to allow retail trading of crypto assets. |
After Huobi Delists HUSD, the Stablecoin Falls 72% From Dollar Peg: HUSD stablecoin has fallen dramatically from its $1 peg, dropping to a low of 28 cents after crypto exchange Huobi delisted the asset on Friday. It is unclear why Huobi decided to move away from the stablecoin it developed. |
- Huobi said that users can still exchange HUSD tokens for Tether (USDT), the industry's largest stablecoin by market cap. HUSD is trading below 40 cents at press time.
- TRON founder Justin Sun said recently on CoinDesk TV that as a recently-hired Huobi advisor he will push for his own Terra UST-like algorithmic stablecoin USDD to be used across the global exchange's ecosystem. He also suggested Huobi may reenter mainland China, if regulations ease.
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Visa Files Trademark Applications for Crypto Wallets, NFTs, Metaverse: Payments giant Visa filed two trademark applications to the United States Patent and Trademark Office related to digital wallets, non-fungible tokens and the metaverse. The move follows that of other large corporations and payment companies including American Express. |
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Putting the news into perspective |
(DALL-E/CoinDesk) Bitcoin Will Usher in a New Era of Governance Across the world, people are losing trust in the institutions that underpin society. Any thinking person can see the institutions of governance, finance and money are corrupt, incompetent and yet unavoidable. Edan Yago writes about how the creation of Bitcoin is leading to a new way of organizing businesses and societies. Read the full article here. |
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Overheard on CoinDesk TV... |
"Being able to have that computation where neither party actually knows exactly what's happening is really valuable." —Nillion Chief Business Officer Slava Rubin, on CoinDesk TV's "First Mover" |
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- Elon Musk, Twitter, Dogecoin, Bluesky, and the Decentralized Social Media Race (Decrypt)
- Vitalik Urges DeFi to Slow Down Integration with Traditional Finance (The Defiant)
- Crypto, Cash and Spies: Secret Videos Sink Legal Rising Star (Bloomberg Law)
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