Blockchain Expo: Modernising banking with blockchain and DLTs

Sabih Behzad, Head of Digital Assets and Currencies Transformation at Deutsche Bank, shared his views on blockchain and DLT innovation during a session at this year’s Blockchain Expo Global.

Behzad shed light on the complexities that traditional banks face, particularly in terms of moving money globally. He highlighted the limitations of current infrastructure, operating on a non-stop, 24/7 basis due to overlapping business hours across different regions.

Additionally,...

Blockchain Expo Europe: Unearthing the catalysts for institutional crypto adoption

In a fireside chat at Blockchain Expo Europe, James Morek, Co-Head of Institutional Sales EMEA & APAC at Coinbase, and Nick Philpott, CEO of Zodia Markets, shared their insights on what is needed for institutional crypto adoption.

The conversation delved into critical topics such as regulatory collaboration, the role of decentralised technology, and the impact of blockchain and stablecoins on financial transactions.

Regulatory collaboration and frameworks

The...

Tether CTO responds to reports of hedge funds shorting USDT

Tether CTO Paolo Ardoino has responded to reports of hedge funds shorting its USDT stablecoin.

A “short” is a bet against the value of an asset. In contrast, a “long” position is a bet that an asset will appreciate in value.

On Monday, the Wall Street Journal reported that various traditional hedge funds had open USDT short positions worth hundreds of millions of dollars.

“There has been a real spike in the interest from traditional hedge funds who...

Tether depegs from $1 mark following TerraUSD and LUNA collapse

Tether (USDT)

It has been a rough week for crypto, but an even rougher week for stablecoins.

Tether (USDT), the stablecoin mainstay of the crypto space, snapped as low as $0.95 in the early hours of 12 May amidst wider market fears surrounding TerraUSD (UST).

Earlier in the week, UST depegged from its intended $1 mark, falling as low as $0.29.

In a desperate bid to restore UST’s price, Terraform Labs have been printing and selling millions of its stabilising token, LUNA,...