Kristalina Georgieva, the managing director of the International Monetary Fund, said that Bitcoin cannot be classified as money during her one-on-one conversation with John Rolle, the governor of the Central Bank of the Bahamas.

Georgieva states that Bitcoin needs to be “very broadly” accepted in order to become a currency, noting that it is far from reaching that goal.

When asked by CNN’s Julia Chatterley — who was moderating the conversation — about her take on El Salvador adopting Bitcoin as legal tender, she bemoaned the cryptocurrency’s high volatility since it makes it challenging to collect taxes, plan expenditures and…


Robinhood is known for its association with “meme stocks.” Now the stock trading app could become one.

On Wednesday, Robinhood priced its initial public offering at $38 a share, the company said, valuing it at $31.7 billion. It raised $1.89 billion from the offering, setting the stage for the company to start trading on Thursday under the symbol HOOD.

The price was at the low end of Robinhood’s initially disclosed range of $38 to $42, in a sign of possible investor hesitance. …


Uniswap creator Hayden Adams and two Paradigm developers, Dave White and Dan Robinson, are building a market making system for executing large trades on Ethereum.

Uniswap is Ethereum’s biggest decentralized exchange (DEX) while Paradigm is a crypto asset investing firm, which recently participated in FTX’s $900 million round.

According to a tweet thread by White and a paper published on the Paradigm website, the idea is to build what they call a Time-Weighted Average Market Maker, or TWAMM.

Currently, most DEXs use automated market makers (AMMs), where liquidity providers create pools of funds that DEX users can trade with. …


PayPal will reportedly take another step in its cryptocurrency endeavors and roll out a “super app wallet” for its American users. The company will launch the upgraded version in the upcoming months.

The Chief Executive Officer of the company — Dan Schulman — revealed during PayPal’s Q2 2021 Earnings Call that the firm would enhance its digital assets services by offering its users an upgraded version of its application. Named the “super app wallet,” it will provide “additional crypto capabilities,” early access to direct deposit funds, and high yield savings.

Schulman assured that the app is already “code complete.” The…


Vauld, the global platform for building wealth with crypto, today announced it received an investment of $25 million USD in Series A funding, led by Valar Ventures. Pantera Capital, Coinbase Ventures, CMT Digital, Gumi Cryptos, Robert Leshner, Cadenza Capital, and others also participated in the round. The funding will be used to support the company’s international growth and licensing as well as expand its retail crypto banking and investing platform.

Onramps to capital and wealth remain inaccessible around the world to many different populations. Vauld has built a simple onramp for individuals around the world to easily access capital as…


Fireblocks has raised $310 million, securing the cryptocurrency custody platform’s unicorn status with a $2 billion valuation.

Announced Tuesday, the Fireblocks Series D round was co-led by heavy hitter tech VCs Sequoia Capital, Stripes, Spark Capital, Coatue and DRW. Also a co-leader on the round was SCB 10X, the venture arm of Thailand’s oldest bank, Siam Commercial Bank (now the third global bank to invest in Fireblocks alongside BNY Mellon and SVB Capital).

Technology firms that specialize in the safekeeping of cryptocurrencies and tokens have become desirable items on the shopping lists of banks and large fintech players eyeing the…


Shopify’s president said Monday that the e-commerce company is directly supporting the sale of non-fungible tokens (NFTs) for its merchants, though the offering’s scope appears limited at this time.

In a pair of tweets, company president Harley Finkelstein said “we are making it easier for our merchants to sell NFTs directly through their stores” before highlighting a pending NFT drop from the Chicago Bulls basketball team.

According to the terms and conditions of the Bulls’ offering, these particular NFTs are being created via the Flow blockchain, launched by NBA Top Shots developer Dapper Labs.

“Before Shopify offered this capability, merchants…


Goldman Sachs has filed an application with the United States Securities & Exchange Commission (SEC) for a new decentralized finance (DeFi) and blockchain-based exchange-traded fund (ETF).

— Goldman Sachs DeFi fund to track Solactive Index

The Wall Street giant is planning to create an ETF that would be tied to the performance of firms working on developing blockchain technology and the digitization of finance.

The new fund, called the Goldman Sachs Innovate DeFi and Blockchain Equity ETF, would be tracking the Decentralized Finance & Blockchain Index from Solactive — a financial index provider from Germany.

The investment bank’s new fund will invest a minimum of 80% of its assets…


Facebook is all in on the Metaverse: The social media giant is reorganizing to build out a new Metaverse product group that will be headed by Vishal Shah, Instagram’s current VP of product. Other key executives of the group include Facebook Gaming VP Vivek Sharma, who will be leading the development of the company’s Horizons VR world, and Facebook gaming executive Jason Rubin, who previously led content for Oculus.

The new group is reporting to Facebook’s VP of AR and VR, Andrew Bosworth, who announced the founding on his Facebook page Monday afternoon. “To achieve our full vision of the…


The 7-week private pilot program is the first major step taken towards the public release of Block.one’s Bullish exchange expected later this year.

In a Block.one blog post from 27 July, the Bullish exchange announced the launch of a 7-week private pilot program, which will offer a select group of retail and institutional investors the opportunity to experience the Bullish trading interface and the company’s proprietary Hybrid Order Book. Participants will also have access to features and services that include spot trading, margin trading, and Bullish Liquidity Pools.

Bullish’s Hybrid Order Book was designed to offer deep and predictable liquidity…

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