16 December

Maker will deploy four vaults to fund investments in real-world assets (RWA), originated by BlockTower and issued on-chain through Centrifuge. Deep in a bear market, at the end of a year’s worth of stomach turning headlines, this milestone cements the role of RWA in DeFi.

This stands to be the largest on-chain investment in real-world assets to date, with Maker providing $150m of senior capital and BlockTower providing $70m of junior capital. It also marks the first institutional credit fund to bring their collateralized lending operations on-chain.

As the first protocol to bring real-world assets on-chain, we’ve always believed RWAs are the key to stable yields in DeFi.

By tapping into productive assets in the real-world, DeFi users and protocols get exposure to cash flows that are uncorrelated to crypto market volatility.

For Maker, it means onboarding BlockTower as a professional asset manager that can provide access to multiple and diversified asset classes, which in turn increases the resilience of its stablecoin DAI. For BlockTower Credit, it means sourcing funding from an unbiased global currency and putting it to productive use.”

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“Binance, the largest crypto exchange by volume traded, is not the next FTX, according a report from CryptoQuant. CryptoQuant points out that Binance differs from FTX-Alameda in how “clean” the reserves are, or, to put it another way, how they’re not reliant on the exchange’s proprietary token, BNB.

The Seoul-based analytics firm points to on-chain data to support claims made in a recent audit that Binance is overcollateralized. While withdrawals have increased, they are small compared with the exchange’s overall reserves.”

“On Tuesday evening, Bankman-Fried was processed at Bahamas’ sole penitentiary, Fox Hill Prison, following his bail hearing. Since then, he’s remained in the prison’s sick bay, undergoing assessment of health and risk of self-harm. Such assessments determine—typically in two days—to which section of the prison an inmate will be transferred. Cleare insisted that Bankman-Fried is being treated like any other inmate at the 1,000-person correctional facility.

He isn’t getting any special treatment.

A 2021 report by the U.S. State Department found conditions at Fox Hill prison to pose “significant human rights issues.” The report cited extreme overcrowding, poor nutrition, and inadequate sanitation. Most of the prison’s cells, which measure six feet by ten feet and house up to six inmates, have no mattresses or toilets. Inmates often sleep on the ground and use buckets to dispose of human waste.

Bankman-Fried will remain incarcerated at Fox Hill until February 8th, the date of his next court appearance.”

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The edition of 45,000 NFTs features the former president in various fantasy costumes and poses. The tokens, minted on Polygon, cost $99 and can be purchased with ether (ETH) or in fiat currency.

Collectors who purchase one of the digital trading cards will be automatically entered into a “sweepstakes” to receive experiences with Trump, including a zoom call, a dinner in Miami or a cocktail hour at Mar-a-Lago. The trading cards will have rarity traits from one-of-ones to ‘2, 5, 7, or 10 copies. No Trump Digital Trading Card will have more than 20 copies in existence.'”

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“The top Republican on the House Financial Services Committee wants the U.S. Treasury Department to delay implementing the crypto tax provisions in last year’s Infrastructure Investment and Jobs Act until there is further clarity around who’s covered by the bill.

At issue is the definition of a “broker” for tax reporting purposes. When the legislation – then known as the Bipartisan Infrastructure Bill – was introduced last year, industry participants warned the definition of a “broker” was overly broad, and could force entities such as miners and crypto wallet manufacturers to abide by tax reporting rules they physically would not be able to meet.

These questions and concerns must be addressed to ensure taxpayers have clear direction on the forthcoming requirements.

The Treasury Department has not issued formal guidance addressing this provision, but has said in letters to lawmakers that it would not include certain groups, such as miners.”

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“The United Nations High Commissioner for Refugees (UNHCR), a UN agency mandated to aid and protect refugees, is launching a blockchain solution to distribute cash to Ukrainians affected by the ongoing Russian invasion.

To participate, users need to download Vibrant, a Stellar-based non-custodial mobile digital wallet that provides a secure place to hold and transport funds in USDC. Recipients can then choose to convert the received USDC to U.S. dollars, euros, or local currency and withdraw their funds at hundreds of thousands of MoneyGram locations around the globe.

For fleeing Ukrainians, and primarily for those whose banks are inaccessible, this pilot project providing humanitarian assistance using a digital wallet, will serve as a possible lifeline for survival.

Last year, the Stellar Development Foundation (SDF) also announced that the Stellar blockchain will be used to pilot an electronic version of the hryvnia, the national currency of Ukraine.”