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Uber has spearheaded exploration into Bitcoin payments and cryptocurrency integration, with CEO Dara Khosrowshahi confirming the company is actively studying various major stablecoin implementations to reduce international transfer costs. This marks the third time since 2021 that the ride-sharing giant has accelerated interest in crypto adoption, and digital currency payments could revolutionize the high fees associated with cross-border transactions. Also Read: SEC Chair Paul Atkins Eyes ‘Rational’ Bitcoin Rulemaking Shift Ahead How Uber May Boost Crypto Adoption With Stablecoins and Low Fees Source: The Seattle Times Bitcoin Payments Enter Active Study Phase at Uber Right now, Uber’s exploration of Bitcoin payments and cryptocurrency integration has engineered substantial momentum following the Bloomberg Tech Summit on June 5, where Khosrowshahi detailed the company’s current approach across multiple essential business areas. The ride-sharing company has instituted what t...

Monthly trading volume on decentralized exchanges (DEXes) has reached new all-time highs, according to the latest on-chain data. According to blockchain data aggregator DefiLlama, DEX volume for December was $422 billion, the highest ever on record. The month of November was also an all-time high, according to DefiLlama. Source: DefiLlama Uniswap, Ethereum’s (ETH) biggest DEX, recorded the most amount of volume while Raydium (RAY), the largest DEX on Solana, placed second. Most other chains saw an increase in volume, and DeFI as a sector is growing, perhaps getting a boost from President-elect Donald Trump who has ostensibly given a nod of approval to the sector by launching his own platform – World Liberty Financial (WLFI). The incoming president’s project says that its main mission is to spread US dollar-pegged stablecoins and the concept of DeFi throughout the world. According to World Liberty Financial, stablecoins are the crux of DeFi, and its...

In late 2023, Tether, the world’s largest stablecoin, announced it was taking a significant stake in Northern Data, a firm that principally focuses on Bitcoin mining but has since expanded into artificial intelligence. Since then, former executives of Northern Data ’s North American subsidiary have filed a lawsuit against Northern Data , alleging securities fraud and tax evasion, as well as whistleblower retaliation.  Joshua Porter, the former CEO and president of Northern Data US, the company’s North American subsidiary, and Gulsen Kama, the former chief financial officer of Northern Data US, filed the lawsuit. The lawsuit alleges that Northern Data regularly misrepresented its financial situation to investors, even as its executives, including Porter and Kama, raised concerns about the solvency of the parent company. These issues came to a head in early 2023 when KPMG insisted on performing a liquidity forecast before signing off on its audit. Kama felt that...

The recently revealed list of Tether’s commercial paper holdings has surprised many due to the firm’s significant exposure to Chinese banks. However, what may be more worrying is that Tether has also bought commercial paper from several banks with chequered records. Indeed, one of these banks is apparently a subsidiary of a Qatari bank known to breach AML regulations and service extremist and terrorist groups. Tether bought a total of $49,862,117 worth of commercial paper with an interest rate of 0.2765% from AKCB Falcon Limited, a subsidiary of Masraf Al Rayan. The Islamic bank is headquartered in Qatar and owned by the Qatari state with a branch in the UK. AKCB Falcon Limited was previously a subsidiary of Al Khalij Commercial Bank that merged with Masraf Al Rayan, creating the second-biggest bank in Qatar . Masraf Al Rayan was recently found to be in breach of AML rules by the UK financial regulator, the Financial Conduct Authority (FCA), for accepting up to £23 mill...