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SBF puts blame on Binance
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Diving deep into today's web3 currents:
🌐 Mastercard's Pioneering Trial With CBDCs and NFTs
👉 SBF Points Finger at Binance
🌏 Coins.ph and Circle Team Up To Facilitate Cross-Border Payments
🇫🇷 Is DeFi Really Decentralized?



Mastercard, in collaboration with the Reserve Bank of Australia, among others, has successfully trialed the wrapping of CBDCs on multiple blockchains.
The experiment was carried out in a live environment and showcased the capability of a CBDC owner to buy an Ethereum-listed NFT by locking a pilot CBDC amount on the RBA platform and creating an equivalent amount of wrapped pilot CBDC tokens on Ethereum. To maintain security, specific Ethereum wallets were "allow-listed," blocking other transfers of the wrapped pilot CBDC. Mastercard’s Multi Token Network played a crucial role in the trial, blending payment tech with blockchain. The Reserve Bank of Australia believes that an Australian dollar CBDC could bring innovation to the finance sector but stresses the need for more research.


Sam Bankman-Fried has alleged that Binance leaked a crucial Alameda balance sheet, contributing to FTX's downfall.
Alameda’s Caroline Ellison presented personal notes during the trial, indicating Bankman-Fried's multifaceted business concerns preceding FTX's collapse, including seeking funding from a Saudi crown prince and eyeing regulatory action against Binance. A memo alleged Binance's PR campaign against FTX, accusing them of leaking financial details. Ellison's testimony also revealed FTX's financial strain and Bankman-Fried's maneuvers to obscure liabilities and maintain liquidity. Amidst these revelations, FTX's native token, FTT, saw a 1.65% gain.


A dominant cryptocurrency exchange in the Philippines has collaborated with U.S. fintech firm Circle to reinvent cross-border remittances.
This partnership aims to offer 18 million Coins.ph users a quicker, more affordable, and efficient remittance system, especially beneficial in regions with high traditional transaction fees. Circle, also the issuer of the USDC stablecoin, has launched native USDC on the Polygon PoS mainnet, enhancing the DeFi landscape. This removes the need for cross-network bridges, giving direct access to $25 billion in USDC liquidity. Additionally, support for bridged USDC transactions on Polygon PoS will cease from 10 November 2023.


The Autorité de Contrôle Prudentiel et de Résolution (ACPR) of the French Central Bank has released a summary of its two-month public consultation on regulations for DeFi in France.
The consultation, which ran from April to May 2023, led the ACPR to suggest that the term "disintermediated" finance might be more fitting than "decentralized" finance due to observed centralization trends, especially in blockchain node hosting. The majority of participants favored public blockchains for DeFi deployment and supported regular audits. Proposals included regulating intermediaries, certifying smart contracts, and establishing governance to safeguard DeFi customers. Additionally, the European Securities and Markets Authority (ESMA) recognized both the advantages and potential risks of DeFi in a recent report.




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