MakerDAO votes to keep USDC as primary collateral, rejects ‘diversification’ plan

MakerDAO, the decentralized autonomous organization that governs the Dai (DAI) stablecoin, has voted overwhelmingly to keep USD Coin (USDC) as the primary collateral for Dai. An alternative proposal to “diversify” collateral into Gemini Dollar (GUSD) and Paxos Dollar (USDP) was rejected in a 20% to 79% vote, according to the proposal’s official page. Vote totals for … Read more

Arbitrum airdrop hype grips DeFi world: Finance Redefined

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. The much-awaited airdrop of layer-2 scalability protocol Arbitrum has dominated headlines throughout the week. The hype around the token has led to exploits, fake airdrops and even a significant … Read more

Motorcycle Rally Organizers Lose Bid for Coverage for Auto Accident

New You can now listen to Insurance Journal articles! A three-judge panel of the Second Circuit Court of Appeals has affirmed a district court ruling that Berkshire Hathaway’s Covington Specialty Insurance Co. had no duty to indemnify its insureds against personal injury claims stemming from an auto accident at the insureds’ annual motorcycle rally. The … Read more

Mastercard opens network to USDC, OKX departs Canada, Bitcoin climbs

Take, for example, the recent issues that Circle-issued USD Coin (USDC) faced when it depegged from the U.S. dollar following Silicon Valley Bank’s collapse. Two weeks later, Mastercard boldly integrated the stablecoin into its infrastructure in the Asia-Pacific region, allowing users to spend USDC through its network. It’s happening, folks! And let’s not forget about … Read more

Fox News, Dominion Argue Over Legal Standards to Prove Defamation

New You can now listen to Insurance Journal articles! WILMINGTON, Del. – Lawyers for Fox News and a voting machine company tangled Wednesday over the high bar to prove defamation in a $1.6 billion lawsuit that has embarrassed the conservative network over its airing of false claims related to the 2020 presidential election. The argument … Read more