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News

NFT Marketplaces

China Reverses Course on NFTs With Platform Launch

After Years of Checking Crypto Beijing Warms to NFTs on its Own Terms

By Samuel Haig

After years of hostility towards the digital asset sector, China appears to be taking steps toward embrace nonfungible tokens. The website for the China Digital Trading Platform (CDEX), a Chinese state-sanctioned secondary trading platform for NFTs and other digital assets, launched on Jan. 1.

Read the full story in The Defiant

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Crypto Enforcement

Crypto Crackdown Intensifies as NY Hits Coinbase and Mashinsky

NY Attorney General Alleges Celsius Founder of Defrauded Customers; Coinbase Fined $50M

By Aleksandar Gilbert

In a one-two punch, New York state authorities slapped Coinbase with a $50M penalty on Wednesday, and sued former Celsius CEO Alex Mashinsky for allegedly defrauding investors on Thursday.

Read the full story in The Defiant

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Market Action

New Year Brings Some Relief To Crypto Investors

Lido And Solana Outperform As Markets Rally

By Tarang Khaitan 

The first week of 2023 is shaping up to be a good one for crypto markets.

Leading smart contract platform Ethereum saw its native token rise 5%, while Bitcoin, which recently turned 14, posted a more modest gain of 2%.

Read the full story in The Defiant

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CBDCs

Mojo Builds for Hong Kong CBDC

Hong Kong Lawmaker Asks Beijing to Permit Digital Dollar and Conversion to Stablecoin

By: Samuel Haig 

Could Hong Kong get a digital dollar? That’s what Wu Jiezhuang, a member of the Legislative Council of Hong Kong, is calling for. The lawmaker wants Beijing to green-light the development of a central bank digital currency (CBDC) for the semi-autonomous regime, and eventually turn it into a stablecoin. He also pushed for the launch of a “Virtual asset rating agency.”

Read the full story in The Defiant

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Opinion

We Have the Tools to Reshape Cross-Chain Identity

A Primer on the Power of Soulbound Tokens, Decentralized Identifiers, and Verified Credentials

By JP Bedoya 

The fractured structure of the greater blockchain ecosystem has made  implementing cross-chain identity a massive challenge. This year, Soulbound Tokens (SBTs), Decentralized Identifiers (DIDs), and Verified Credentials (VCs) are poised to shape how identity will ultimately be handled in 2023. These tools have the potential to change how we manage our online identities and provide a more efficient approach to portable and frictionless Web3 experiences.

Read the full column in The Defiant

Defiant Video

Daily Defiant

$4.2bn belongs to Celsius, not customers

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Trends to Watch 2023

Stablecoins

Stablecoins Seek to Regain, Well, Stability in 2023

Stablecoins Used to be Immune to Stress — Now they Must Withstand Volatility

By Owen Fernau 

Of all the instruments in crypto, stablecoins may have the most utility. These assets, often pegged to the U.S. dollar, provide the benefits of holding value on-chain without the drawbacks of volatility. Users can tap them for a number of functions throughout DeFi — to borrow, lend, and to provide liquidity and trade out of crashing assets. And, of course, they can be used for that ever-durable use case — paying people.

Read the full story in The Defiant

From the Archives: Podcast

A violation on free speech? Jake Chervinsky on Tornado cash and the future of legislation in crypto.

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