Morning Post - September 7

headlines

▌Russia seeks to establish a stablecoin cross-border settlement platform with friendly countries

Russian Deputy Finance Minister Alexey Moiseyev said on Tuesday that Russia is working with several friendly countries to establish a clearing platform for stablecoin cross-border settlements. “We are currently working with some countries to create bilateral platforms so that we don’t use dollars and euros. We provide mutually acceptable tokenization tools that will be used on these platforms, which are essentially what we are currently developing with these countries. Clearing platform. Stablecoins can be pegged to some recognized instruments, such as gold, and their value is clearly visible to all participants.” According to previous reports, Russia’s Deputy Finance Minister Alexey Moiseyev In an interview with Russian TV channel 24, it was stated that the Ministry of Finance and the Bank of Russia have reconsidered their approach to cryptocurrencies and consider it necessary to legalize cross-border settlements of these currencies in the near future.

cryptocurrency

▌KPMG report: Crypto investment slowdown will continue until the end of 2022

According to a new report from global auditing and consulting firm KPMG, global investment in cryptocurrency companies has fallen from a record $32.1 billion last year to $14.2 billion in the first half of 2022, and the slowdown will continue until end of 2022. The biggest deals in the first half of the year saw venture capital investors pour $550 million into crypto custody firm Fireblocks, $450 million into ethereum infrastructure builder ConsenSys and $400 million into cryptocurrency exchange FTX. KPMG also expects investors to shift from companies offering tokens and NFTs to blockchain infrastructure projects in the second half of the year, especially the use of blockchain in financial technology modernization. Analysts see growing focus on solutions related to compliance and transaction traceability, as well as increased corporate interest in stablecoins, as a low-risk way to invest in cryptocurrencies.

▌Coinbase Releases Governance Proposal, Could Generate $24 Million for MakerDAO

Coinbase released a proposal on MakerDAO's governance forum to transfer 33% of MakerDAO's $1.6 billion Peg Stability Module (PSM) to the Coinbase Prime custody account, which is expected to increase Maker's revenue by about $24 million. Additionally, Maker will pay zero custody fees for its PSM allocated to Coinbase and will be able to freely mint, burn, withdraw, and settle its allocated USDC through Coinbase Prime.

▌Arbitrum announced that the first Hackathon will be held in Colombia on October 15-16

Arbitrum, the Ethereum expansion solution, announced that the first Hackathon will be held in Bogota, Colombia on October 15-16. The track includes DeFi, NFT and games, social networking, and tools. Registration is now open.

▌The Human Rights Foundation provides a $325,000 Bitcoin grant to promote the development of the Bitcoin ecosystem

The nonprofit Human Rights Foundation (HRF) has announced $325,000 worth of Bitcoin in its latest grant round. Of these, the largest grant ($100,000) was given to the open-source Bitcoin payment processor BTCPay Server. Developers Jon Atak, a core developer who is constantly reviewing and working on improving Bitcoin, and Josh Kitman, who is developing Fedimint, a Chaumian electronic cash solution for Bitcoin, were each awarded $50,000 in grants. Keith Mukai received a $25,000 grant to develop Bitcoin hardware wallet See Signer. Leigh Cuen, who developed a bitcoin donation guide for nonprofits, received a $25,000 grant. Robosats, an open-source peer-to-peer (P2P) lightning exchange, will receive a $25,000 grant to continue development, provide multilingual support, and build product guides. Independent Russian news outlet Novaya Gazeta will also receive a $25,000 grant. The Vinteum Initiative, a non-profit bitcoin research and development center, will receive a $25,000 grant for its educational workshops, scholarships and grants to support bitcoin developers in Brazil.