onomiblock

Soil is a blockchain-based lending protocol that is built to bring traditional finance into the crypto world and reshape corporate debt and fixed-income investments. To do that, it is designed as a debt marketplace where established companies can obtain financing, and crypto investors can lend their stablecoins to earn yield derived from Real World Assets that exist off-chain. The platform will take a percentage of the interest paid by borrowers to lenders and fees earned from facilitating their connection. At the end of 2021, a range of events exposed the threats and risks of decentralized finance that also undermine trust in DeFi platforms. Although the decentralized finance sector is still in its early stage, DeFi continues disrupting types of traditional finance such as banks or brokerages by allowing automatic execution of payments via smart contracts on the blockchain. The growing popularity of cryptocurrencies and their broader adoption is a result of emerging blockchain...

Binance.US will delist over 100 trading pairs and suspend its OTC services following the SEC’s lawsuit against Binance. In an additional development, Binance.US, the American arm of the renowned cryptocurrency exchange Binance, has announced its delisting of a substantial number of trading pairs. The decision came two days after the exchange was hit with a lawsuit by the U.S. Securities and Exchange Commission (SEC). Mass Delisting, OTC Halting In an official statement released on June 7, 2023, Binance.US disclosed its plans to remove numerous spot trading pairs involving USDT, BTC, and BUSD. The scope of this delisting is noteworthy, as it encompasses a total of 102 trading pairs, including 92 with USDT, 8 with BTC, and 2 with BUSD. Removing these pairs is slated to take effect on June 8. Binance.US will significantly limit the range of coins available for trading, restricting it to a curated selection that includes USDT, USDC, BNB, ETH, BTC, FET, ATOM, APT, MATIC, LTC, DOGE, ...

Over $3 billion BNB vanished briefly after the news broke out. The community is in upheaval but CZ stays sturdy. Binance, the world’s leading crypto exchange, and its CEO, Changpeng Zhao are being sued by the U.S. Securities and Exchange Commission (SEC) over security regulatory violations, as reported by Bloomberg this morning. Empire Under Fire In a significant development on Monday, the SEC has filed 13 charges against Binance and its CEO, accusing the exchange of mishandling funds. In addition, the regulatory body allegedly provided false information to regulators and investors and engaged in manipulative trading practices. The SEC’s charges include the accusation that Binance mixed substantial amounts of customer funds, amounting to billions of dollars, and secretly funneled them to Merit Peak, a separate company under the control of Binance’s CEO, CZ. This alleged commingling of funds raises concerns about the security and proper custodial practices employed by the ex...

In a recent crackdown on crypto, the SEC has filed a motion to freeze crypto holdings on Binance.US. But Bitcoin turns SEC’s lemons into sweet lemonade. According to the court filing revealed on Tuesday, the U.S. Securities and Exchange Commission (SEC) has called for temporary restraints of cryptocurrency held on Binance.US. The emergency order submitted to the U.S. District Court for the District of Columbia targets 8 specific activities of Binance and Binance.US, along with their CEO Changpeng Zhao (CZ). New Twist The regulatory body seeks to obtain a temporary restraining order, freezing the assets held by Binance.US and facilitating the return of funds to U.S. customers or implementing measures that benefit American users. Additionally, the SEC has demanded that Binance US be prohibited from tampering with or destroying any relevant documents, as well as engaging in any other suspicious actions. This latest development follows the SEC’s lawsuit against Binance on June 6. C...

ST HELLIER, Jersey, June 6th, 2023, Chainwire OKX , the world’s second-largest cryptocurrency exchange by trading volume and a leading Web3 technology company, and regulated digital asset custody service provider Komainu , today announced that OKX has joined collateral management platform Komainu Connect, enabling institutional customers to conduct secure 24/7 trading of segregated assets under custody through the OKX platform. Launched in April of 2023, Komainu Connect reduces client counterparty risk by removing the need to store collateral with trading counterparties, and offering the ability to keep assets in safe custody instead.  Nicolas Bertrand, CEO at Komainu, said: “This strategic partnership marks a milestone in our mission to provide secure and compliant digital asset custody solutions. OKX’s reputation as a leading cryptocurrency exchange, combined with our expertise in institutional-grade custody services is paving the way for a new era of trust and innovation i...

Coinbase, the crypto exchange giant, has announced today its launch of Bitcoin and Ethereum futures contracts focusing on institutional investors. In a series of statements, the CEO of Coinbase, Brian Armstrong, revealed that new offerings are available from June 5 on Coinbase Derivatives Exchange, Coinbase’s CFTC-regulated futures exchange. “BTI and ETI futures, sized at one bitcoin and 10 ether per contract, respectively, will enable participants to tailor their exposure to these growing digital asset commodities with granularity, allowing traders to seize opportunities in a highly dynamic market environment,” according to Coinbase. More Futures From Coinbase Bitcoin and Ether contracts, two products that debuted last year, have gained increasing traction among institutional investors. The surge in interest in advanced derivatives products is driving the development of new contracts. The futures contracts have monthly expirations and are settled in USD. Coinbase highlighted...

Circle, the leading stablecoin issuer, has announced its plan to deploy its native token USD Coin (USDC) on the Arbitrum network. The Arbitrum Foundation also confirmed this deployment in a recent statement. This strategic decision aims to enhance liquidity and streamline cross-chain transfers, revolutionizing the user experience. USDC Debut On Arbitrum Ethereum layer 2 scaling solutions have increasingly gained traction. Apart from Optimism, Arbitrum is a prominent name in the layer 2 landscape. According to DefiLlama, total value locked (TVL) of DeFi protocols on Arbitrum reached $2.3 billion, followed by Optimism and zkSync Era. The deployment of the native USDC token on Arbitrum is set to take place on June 8, marking a significant milestone for Circle and the stablecoin ecosystem. By gradually phasing out the existing bridged USDC token version transferred from Ethereum, Circle will ensure a seamless transition for users. The bridged version will be assigned a new display t...