It’s not too surprising that since its launch in September 2018 it has grown so quickly since it was created by the Centre Consortium, which is a collaboration between Coinbase and Circle Internet Financial. JPMorgan is in line for the nine-figure profit after markets moved in its favor, according to the people, who asked not be identified discussing sensitive information.Read more: Aramco Said to Tap Moelis to Raise Billions From Asset SalesWhile buyers in an acquisition this size normally turn to a group of lenders to manage their financing risk, JPMorgan was the sole bank on the hedging transaction, the people said. And Wood has been consistently adding cryptocurrency exchange Coinbase Global Inc., whose shares have been declining for much of the past month after rallying in its April IPO.Read more: Musk Splits From Cathie Wood’s Ark on Bitcoin Environmental CostSome of that retreat is likely down to Musk, who fueled a slump in the largest cryptocurrency after hitting out at the token’s high energy demands and reversing a decision to accept it as a form of payment.With Ark a big proponent of Bitcoin and a believer in its green credentials, it’s all adding to recent drama in the world of speculative tech. “This paper proposes a new stability mechanism called direct incentives. The most popular stablecoins use the U.S. dollar as a benchmark and maintain a price very close to $1 if they are functioning as intended. Today we’re excited to share two updates… “The odds are going up now that we have had this correction,” she said.Although her funds have taken a hit this year, with her flagship Ark Innovation ETF down more than 34% from its high in February, the firm’s product line-up hasn’t yet faced a monthly outflow, she said.“There were a lot of commentators out there, shall I say, screaming about how our ETFs would have to shut down, which is impossible,” she said.In fact, the move toward value sectors that’s caused her funds to suffer is encouraging to her.“The forces that the coronavirus put in motion supporting all of the innovation in which we invest, they’re not looking back,” she said. There are caveats, however. On Monday (June 10), Coinbase announced that “Coinbase Earn”, its educational service that rewards users for learning about different cryptocurrencies, has added support for Dai (DAI), the “first decentralized stablecoin on the Ethereum blockchain.”. Zhang said in the memo he began discussing with a small group the possibility of having Liang as the new CEO this March.“The regulatory environment for technology companies in China has become ever-changing and that requires a lot of energy and effort,” said Shen Meng, a director at Beijing-based boutique investment bank Chanson & Co. “Wearing two hats at a company as sizeable as ByteDance is just too stressful.”Zhang founded ByteDance in 2012 before using highly refined AI recommendation engines to create hit news service Toutiao and viral global video app TikTok. Then, two months later, Coinbase announced that the Coinbase Card had been made available in six other European countries: Spain, Germany, France, Italy, Ireland, and the Netherlands. Rates could be doing the same before long. Stasis, a Malta-based issuer of stablecoins, has hired accounting firm BDO Malta to conduct quarterly and annual audits of its financials, including the euro reserves backing the startup’s EURS token. Coinbase: lansarea programului USDC Rewars. The two largest stablecoins — Tether and Coinbase's USDC — account for most of the market by total supply. As such, CENTRE is building standards that will work with a diverse, open and heterogenous ecosystem of chains, aiming to enable developers and blockchain protocol projects to build CENTRE implementations on their blockchains. Here we will look at the pros and cons with a review of Coinbase Card for your Bitcoin Visa card needs. SUSHI +120.93% views. This startup launched a free tool to match you with qualified fiduciary advisors so you can get sound financial advice in a volatile market. Additionally, members must comply with regulatory requirements where they operate and must further meet the technical and operational requirements of the group’s protocols. CENTRE aims to enable crypto assets to function across multiple blockchains, both public and private. Coinbase Custody supports 90+ percent of crypto by market capitalization. On Coinbase, eligible customers can earn rewards for every USD Coin they hold Purchases of corn, wheat and sorghum are likely to stay elevated, as China’s buying binge continues to help fuel a global grains rally.Events Today(All times Beijing unless noted otherwise. Each USDT is an IOU issued by Tether Limited, which entitles users to … But Nissan and Mitsubishi claim Ghosn only used the Amsterdam-based joint venture to inflate his own pay and to cover a personal tax debt, and are demanding he repays around 8 million euros in wages they say he granted himself without the knowledge of the boards of the holding companies. It’s welcome news for Tether, the largest stablecoin by market capitalization, which just recently settled an investigation by the New [...] In other words, FEI can give users bonuses or charge fees for making trades that help it maintain its peg to the dollar. Investor Adam Cochran wrote, “This strongly legitimatizes Tether, which underpins huge price action, and now makes arbitrage to non-fiat exchanges more direct which is huge for capital flows.” So this is actually the most bullish piece of news I’ve seen in a long time. Banks on the listing shared a fee pool of just over $100 million, which was unusually small relative to the size of the IPO.More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. (Bloomberg) -- Beijing threw the spotlight on trade tensions with its top commodities supplier, Australia, after the government’s economic planning agency said it’s looking to diversify China’s supply of iron ore.Chinese firms should boost domestic exploration for the steel-making input, widen their sources of imports, and explore overseas ore resources, the National Development and Reform Commission said at its monthly briefing.The NDRC also said Australia should stop damaging economic and trade cooperation with China and take measures to promote the healthy development of bilateral ties.Iron ore is Australia’s biggest export earner, and relations with Canberra have taken a turn for the worse in recent weeks. Dai stablecoin (DAI) Next, the protocol can itself buy back FEI with its assets and burn the FEI. Many more are coming soon. DAI is the first stablecoin listed on Coinbase Earn | CryptoSlate USDC was first announced in May 2018 by Circle and launched in September 2018. (Bloomberg) -- ByteDance Ltd. founder Zhang Yiming will cede the reins of TikTok’s owner to an old college roommate and lieutenant, stepping back from running the world’s most valuable startup ahead of its highly anticipated market debut.Zhang will hand off the chief executive officer role at TikTok’s owner to human resources chief Rubo Liang, he announced in an internal memo posted online Thursday. Tether (USDT) Tether (USDT) first stablecoin and it remains the … Applications for refinance loans are rising. Su, the first woman to become CEO of a major chip company, said her main accomplishment has been earning AMD a new reputation for delivering on its promises. Coinbase reported “intermittent downtime” on its platform, before saying it had identified and fixed the issue while Binance, the world’s biggest cryptocurrency exchange, temporarily disabled Ethereum withdrawals citing network congestion.Bitcoin plunged as much as 31% and approached $30,000 before rebounding to about $40,000 at 4 p.m. New York time. Coinbase disclosed it was experiencing connectivity issues on January 6, freezing the crypto assets of an undisclosed number of users in the UK and the European Union as the price of bitcoin (BTC) was gearing towards USD 40,000. "There continues to be a view and a perspective from the participants, as well as the Fed staff that these inflationary pressures that are beginning to become evident will remain transitory in their view and will likely recede as we transition into 2022," said Bill Northey, senior investment director at U.S. Bank Wealth Management in Minneapolis. “We’re looking at this saying: Alright, on sale. (Bloomberg) -- China’s cabinet increased its rhetoric around surging commodity prices, announcing more specific steps to curb markets in order to keep inflation pressures at bay.At a meeting chaired by Premier Li Keqiang Wednesday, the State Council said more effort needs to be taken to prevent rising commodity prices from being passed through to consumers, according to reports carried in state media.The comments were stronger than those last week, with the cabinet Wednesday pledging more domestic supply to ease prices, tougher oversight on spot and futures markets, and vowing to crack down on speculation and hoarding. Here’s what’s coming. Lugh Introduces Eur-L Stablecoin. agricultural imports; LNG & pipeline gas imports; oil products trade breakdown; alumina and rare-earth product exports; bauxite, steel & aluminum product importsLONGi Green, Goldwind execs among speakers at Macquarie Group conference in Hong KongEARNINGS: Daqo New EnergyToday’s ChartChina’s data dump for April suggests the economy’s expansion may have plateaued as policy makers seek to rein in commodities-intensive spending on real estate and infrastructure before new growth drivers of consumer spending and manufacturing investment have recovered.On the WireShaanxi province, China’s third-biggest coal producing region, hit a clean energy milestone last month when generation from renewables briefly topped thermal power for the first time.In a town on the edge of the Gobi desert is a sign in English and Chinese that reads “Oil Holy Land.” Nearby, a preserved drilling rig marks the spot of China’s first commercial oil well.JinkoSolar Announces Change to Senior ManagementChina Is Drafting Carbon Peaking Plans for Steel, Power SectorsAsian Copper Stocks Rise on Top Producer Chile’s Election ResultHuadian Power Downgraded to Sell by Citi on Rising Coal CostsBank of China, Citigroup, BNP Lead Green Bond Offshore MarketCGN Wind Energy Adds Zhejiang Province’s Largest Offshore FarmGCL-Poly Energy Says Deloitte Touche Tohmatsu Resigns as AuditorBrazil Iron Ore Miners Seen Lifting Output Coming Months: IbramChina’s Tapering of Monetary Stimulus Could Pop Oil Price BubbleThe Week AheadWednesday, May 19China’s monthly loan primes rates, 09:30China’s April output data for base metals and oil productsHOLIDAY: Hong KongThursday, May 20China’s 3rd batch of April trade data, including country breakdowns for energy and commoditiesSMM battery materials conference in Changsha, Hunan, day 1USDA weekly crop export sales, 08:30 ESTFriday, May 21Ganfeng Lithium, EVE Energy, Huayou Cobalt execs among speakers at Macquarie Group conference in Hong KongChina weekly iron ore port stockpilesShanghai exchange weekly commodities inventory, 15:30SMM battery materials conference in Changsha, Hunan, day 2AGMs: Cnooc, Tianqi Lithium, CATLMore stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. (Bloomberg) -- Advanced Micro Devices Inc. Chief Executive Officer Lisa Su, who took the helm in 2014, has returned the chipmaker to profitability, taken market share from Intel Corp. and banished concerns about the company running out of cash.More than six years into her tenure, AMD has seen its market value surge to more than $90 billion from about $2 billion when Su was named CEO. “It doesn’t have to be just ETH,” Santoro said, but the developers will encourage the community to only add other decentralized assets, such as DAI or aDAI. Wood made the prediction even as the leading cryptocurrency tumbled on Wednesday. "There is no question that inflation worries have creeped into the investor mindset, which will weigh on the tech stocks and in all likelihood we will see yields go up," said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas. Ethereum lost more than 40%, while Dogecoin declined 45%, before joining in Bitcoin’s rebound.Read more: Bitcoin Plunge Wipes $500 Billion From Value in Crypto RoutThe broader U.S. stock market also made up some ground with the S&P 500 Index closing down 0.3% and the Nasdaq 100 Index up 0.2% after both lost more than 1.6% earlier in the session.MicroStrategy Inc. was down 6.6% after losing as much as 16% earlier. JPMorgan advised Aramco on the deal and was one of two banks that helped it arrange a loan of more than $10 billion offered to the buyers, the people said.Given the size of the financing, EIG separately entered into a so-called swap deal with JPMorgan to guard against fluctuations in interest rates. Oh and by the way, the bull market had broadened out.”More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. (Bloomberg) -- Cathie Wood’s Ark Investment Management is buying the dip in Tesla Inc., sticking with high-conviction names and setting aside a big disagreement with Elon Musk over Bitcoin.Ark exchange-traded funds added more than 47,000 shares in the electric carmaker in the last trading session, according to data released late Tuesday. We have big ambitions about what we want to be able to do.”Su’s AMD has gone from an also-ran chipmaker offering cheaper alternatives to Intel products to a respected provider of computer processors that win orders based on superior performance. Coinbase Pro, the crypto exchange owned by the newly public Coinbase Global Inc (NASDAQ: COIN), has announced that it will list crypto stablecoin Tether (USDT). (Bloomberg) -- Coinbase Global Inc. closed at a record low after a wild trading session that saw the price of Bitcoin swing by about $10,000.The largest U.S. cryptocurrency exchange fell as much as 13% before paring the loss to close down 5.9% at $224.80 amid a broader rout in cryptocurrencies. Buy stablecoins on Coinbase. Higgins is also a vice chairman of the Miami Dolphins, of which Ross is a co-owner alongside Serena and Venus Williams, among others.Another so-called insuretech company, Hippo Enterprises Inc., in March agreed to go public via a SPAC. But Nissan and Mitsubishi claim Ghosn only used the Amsterdam-based joint venture to inflate his own pay and to cover a personal tax debt, and are demanding he repays around 8 million euros in wages they say he granted himself without the knowledge of the boards of the holding companies. “I think we’re in a capitulation phase. FEI works on a straightforward transactional basis. This millennial millionaire who was named a #1 stock picker in 2021 is revealing one of his top stock recommendations to buy now for free. Purchases of corn, wheat and sorghum are likely to stay elevated, as China’s buying binge continues to help fuel a global grains rally.Events Today(All times Beijing unless noted otherwise. The Dutch case, one of many between the former star of the global car industry and the Japanese companies he once led, centres around the Dutch-registered joint venture Nissan-Mitsubishi BV, where Ghosn was ousted as chairman in 2019. This month, he elevated recent hire and former Xiaomi Corp. finance chief Shouzi Chew to CEO of its U.S. business. Assets with the biggest change in unique page views on Coinbase.com over the past 24 hours. Earlier backers include August Capital and Commerce Ventures.The insurer recently said it surpassed $100 million in annual recurring premium after just 21 months as a carrier in an industry that still sees more than 90% of home coverage sold through brick-and-mortar agencies.Omnichannel, led by Higgins -- an executive fellow at Harvard Business School -- in November raised $206.5 million in an initial public offering. The asset traded belongs to the Fei protocol after the trade. (Bloomberg) -- ByteDance Ltd. founder Zhang Yiming will cede the reins of TikTok’s owner to an old college roommate and lieutenant, stepping back from running the world’s most valuable startup ahead of its highly anticipated market debut.Zhang will hand off the chief executive officer role at TikTok’s owner to human resources chief Rubo Liang, he announced in an internal memo posted online Thursday. According to the official blog post by the platform, users will be able to educate themselves about the stable coin through the newly added course on MakerDao’s stablecoin Dai.. On Coinbase, eligible customers can earn rewards for every USD Coin they hold Anyone can get hold of stablecoins by transferring their fiat currencies (EUR, GBP, USD etc) to a crypto lending platform or crypto exchange, then exchanging that fiat for the equivalent stablecoin. And all this came during a period when Intel, the world’s largest chipmaker, had struggled to improve its manufacturing technology, one of the foundations of its decades-long dominance of the computer industry.Su said recent chip shortages, which have hamstrung multiple industries as the world economy comes back to life, are not a disaster -- they’re just another example of the periodic imbalances between supply and demand in the semiconductor market. The stablecoin, whose price is $1, was launched by crypto exchange Coinbase and payments company Circle as part of the Centre Consortium. While that’s worth a modest $27 million, it’s the first time the firm has purchased Tesla since April.Tesla has dropped 38% from its January peak as inflationary fears spur investors to sell expensive assets -- prompting Wood to demonstrate her propensity to enlarge Ark’s positions in favorite tech bets at market lows.The firm also recently bought Twitter Inc. amid its worst week since October. Got $500? Update (March 8, 18:04 UTC): Adds a16z to the list of investors who joined the round. Further, the assets would be deployed elsewhere, such as on the secondary market or – later – in yield-generating projects. Parallel, a stablecoin pegged to match the Euro has been developed by the Mimo protocol to provide a worthy alternative to dollar-backed stablecoins. According to the announcement, the Euro pegged stablecoin was developed using the Tezos protocol and in collaboration with crypto exchange Coinhouse. The coin is pegged and backed 1:1 to the US Dollar to maintain liquidity in the stablecoin market. Each USDC is backed by a dollar held in reserve. Storage is … Coinbase has listings such as BTC/USDT, but other possibilities are BTC/USD (finex), USDT/USD (finex), USDT/USD (coinbase), and BTC/USD (coinbase). The Trading Game has Changed — Pro Trader Who Made $2.1 Million In A Month Reveals His Strategy That’s Like “Option Trading On Fire.". Equity investors worry that rising inflationary pressures as evidenced by stronger-than-expected consumer price readings could prompt the Fed to pare back its support sooner than many anticipate. At one point during the meltdown, nearly $1 trillion was wiped off the cryptocurrency's market capitalization. USDC runs on the Ethereum blockchain as an ERC-20 token. Higgins is also a vice chairman of the Miami Dolphins, of which Ross is a co-owner alongside Serena and Venus Williams, among others.Another so-called insuretech company, Hippo Enterprises Inc., in March agreed to go public via a SPAC. ... Coinbase To Pay $6.5 Million To Settle CFTC Investigation. "There continues to be a view and a perspective from the participants, as well as the Fed staff that these inflationary pressures that are beginning to become evident will remain transitory in their view and will likely recede as we transition into 2022," said Bill Northey, senior investment director at U.S. Bank Wealth Management in Minneapolis. Seven years since its inception, all exchanges will be tethered by a common stablecoin with high liquidity. Coinbase, Naval, Framework Ventures Back $19M Raise for a Capital-Efficient Stablecoin. While that’s worth a modest $27 million, it’s the first time the firm has purchased Tesla since April.Tesla has dropped 38% from its January peak as inflationary fears spur investors to sell expensive assets -- prompting Wood to demonstrate her propensity to enlarge Ark’s positions in favorite tech bets at market lows.The firm also recently bought Twitter Inc. amid its worst week since October. This paper applies a definition that distinguishes stablecoins from existing forms of currencies – regardless of the technology used and characterises – stablecoin arrangements based on the functions they fulfil. According to an official blog post, this new addition is primarily aimed at users who want to experience and spend cryptocurrencies without the crazy price fluctuations that typical cryptocurrencies come … The low-profile executive and Zhang studied microelectronics at Tianjin’s Nankai University and shared a computer for coding, Zhang said in a public speech in 2016. “First, we want to be the best stablecoin in DeFi, in which we would consider DAI to be the primary competitor,” said Joey Santoro, CEO of Feil Labs, which is building the Fei protocol, and author of the white paper describing it. The announcement held that the Coinbase card addition is aimed at users who want to experience and … “We’re in a very competitive market. This feature won’t be live at launch, but Santoro expects it will be implemented. In the mushrooming decentralized finance (DeFi) sector, stablecoins are a common form of collateral for loans and other contracts. A memorandum of understanding about the joint venture will be announced on Thursday, the sources, who asked not to be identified, told Reuters. A stablecoin is a cryptocurrency that is designed to fluctuate as little as possible from a specific value. Terms could change and as with all transactions that aren’t yet finalized, it’s possible talks could collapse. It’s also aiming for e-commerce gross merchandise value of as much as 600 billion yuan, up from 170 billion yuan last year. The size of the return was commensurate with the risk the bank took onto its books as counterparty on the swap, one of the people said.Fee PoolAramco wasn’t a counterparty on the swap trade, the people said. More formally called the CENTRE Network, the scheme is envisioned as a provider of new open standards to facilitate this dream. Jeremy Allaire, Circle co-founder and CEO, told CoinDesk: “Circle and Coinbase are advancing a vision to make the movement of value more accessible and transparent, empowering more people and businesses around the world to participate in economic activity and value exchange.”. Related: Bitcoin Startup Moon Brings the Lightning Network to All Visa E-Commerce Merchants. When the ETH price falls and traders want to get out of FEI, selling it on the Uniswap pool will incur some kind of burn. His first big success was Toutiao, which means “headlines” in Chinese. The S&P 500 added to losses after the release of the minutes revealed a number of Fed policymakers thought that if the economy continued rapid progress, it would become appropriate "at some point" in upcoming meetings to begin discussing a tapering of the Fed's monthly purchases of government bonds, a policy designed to keep long-term interest rates low. The People’s Bank of China has said producer-price inflation will likely stabilize later this year and the risks of imported inflation are overall controllable.The cabinet said monetary policy should be kept steady, with the yuan kept stable at an appropriate and equilibrium level. Stock indexes fell globally on Wednesday ahead of minutes from the U.S. Federal Reserve, while cryptocurrencies plunged after regulatory moves from China, with bitcoin dropping to its lowest level since January. Innovation is on sale. The surprising move from the regulated cryptocurrency exchange giant is seen as a vindication for Tether. The deal may eventually include a jointly owned plant to make battery cells for use in rechargeable EV batteries, the sources said. Newly-listed Coinbase will list Tether’s controversial USDT stablecoin on its Coinbase Pro trading platform. MetroMile Inc. in February became a public company after merging with a SPAC.More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. Stock indexes fell globally on Wednesday ahead of minutes from the U.S. Federal Reserve, while cryptocurrencies plunged after regulatory moves from China, with bitcoin dropping to its lowest level since January. Case in point: Crypto exchange Coinbase has just added support for DAI stablecoin to its Coinbase Card. “We’re in a very competitive market. At launch, Coinbase Card supported the following four cryptoassets: Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), and Litecoin (LTC). That’s a really great time to buy no matter what the asset is.”Wood has consistently loaded up on shares of Coinbase Global Inc. in the past two weeks as the cryptocurrency exchange has dipped below its April direct listing reference price and to a record low on Wednesday.In the interview, Wood also addressed the prospects for a Bitcoin exchange-traded fund to be approved in the U.S. this year, which appears to some less likely after a string of comments from regulators. What is USD Coin? Coinbase adds DAI to its Earn program. ParaFi Capital and Variant Fund also participated in the round. The group ultimately imagines a “new global digital currency” that is backed by a basket of future reserve currency stablecoins – one that might also include bitcoin, the firm said. Chief Executive Elon Musk signaled that the company still is not selling, tweeting symbols for diamond hands https://twitter.com/elonmusk/status/1395027147161489412 to his 55.3 million followers. agricultural imports; LNG & pipeline gas imports; oil products trade breakdown; alumina and rare-earth product exports; bauxite, steel & aluminum product importsLONGi Green, Goldwind execs among speakers at Macquarie Group conference in Hong KongEARNINGS: Daqo New EnergyToday’s ChartChina’s data dump for April suggests the economy’s expansion may have plateaued as policy makers seek to rein in commodities-intensive spending on real estate and infrastructure before new growth drivers of consumer spending and manufacturing investment have recovered.On the WireShaanxi province, China’s third-biggest coal producing region, hit a clean energy milestone last month when generation from renewables briefly topped thermal power for the first time.In a town on the edge of the Gobi desert is a sign in English and Chinese that reads “Oil Holy Land.” Nearby, a preserved drilling rig marks the spot of China’s first commercial oil well.JinkoSolar Announces Change to Senior ManagementChina Is Drafting Carbon Peaking Plans for Steel, Power SectorsAsian Copper Stocks Rise on Top Producer Chile’s Election ResultHuadian Power Downgraded to Sell by Citi on Rising Coal CostsBank of China, Citigroup, BNP Lead Green Bond Offshore MarketCGN Wind Energy Adds Zhejiang Province’s Largest Offshore FarmGCL-Poly Energy Says Deloitte Touche Tohmatsu Resigns as AuditorBrazil Iron Ore Miners Seen Lifting Output Coming Months: IbramChina’s Tapering of Monetary Stimulus Could Pop Oil Price BubbleThe Week AheadWednesday, May 19China’s monthly loan primes rates, 09:30China’s April output data for base metals and oil productsHOLIDAY: Hong KongThursday, May 20China’s 3rd batch of April trade data, including country breakdowns for energy and commoditiesSMM battery materials conference in Changsha, Hunan, day 1USDA weekly crop export sales, 08:30 ESTFriday, May 21Ganfeng Lithium, EVE Energy, Huayou Cobalt execs among speakers at Macquarie Group conference in Hong KongChina weekly iron ore port stockpilesShanghai exchange weekly commodities inventory, 15:30SMM battery materials conference in Changsha, Hunan, day 2AGMs: Cnooc, Tianqi Lithium, CATLMore stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. (Bloomberg) -- Advanced Micro Devices Inc. Chief Executive Officer Lisa Su, who took the helm in 2014, has returned the chipmaker to profitability, taken market share from Intel Corp. and banished concerns about the company running out of cash.More than six years into her tenure, AMD has seen its market value surge to more than $90 billion from about $2 billion when Su was named CEO.