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Defi Losing Track of Its Core Vision as It Gradually Resembles the Very Idea It Aspired to Change

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As defi continues to expand, it risks embracing the very ideology it initially sought to reject as the primary beneficiaries of this new financing paradigm are those who already own digital assets. Replacing Intermediaries Doesn’t Directly Improve Finance When it comes to financial products and solutions, almost everything comes with a catch, be it exceptional returns on investments or low financing rates. Decentralized finance (defi) is no exception. Defi has gained immense popularity because it sought to remove traditional finance’s (tradfi) inherent problems and downsides. While there is no denying…

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South African Finance Minister Seeks to Stop Pension Funds From Investing in Cryptocurrencies

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South African finance minister Enoch Godongwana has put forward proposals that bar pension funds from investing in cryptocurrencies, and has also set November 12 as the public comment deadline. Cryptocurrencies a Grey Area According to a report by Business Insider SA, Godongwana’s timeframe for the public to comment on the draft proposals suggests he wants the changes to come into effect before the end of the year. Prior to Godongwana’s proposals, South African pension funds considered cryptocurrencies a grey area where an investment of up to 2.5% of assets held…

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‘A real lag’: Dems fret over Black votes in Virginia

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Mailers attacking Democrat Terry McAuliffe for being “on the side of abusive police officers” are popping up in Virginia voters’ mailboxes, urging support for third-party hopeful Princess Blanding — and highlighting a fierce battle for Black votes in the final days of the tight governor’s race. In interviews with POLITICO, more than a dozen top Democrats involved in the Virginia campaign — from strategists on the ground to House Majority Whip James Clyburn (D-S.C.) — expressed concern that Black support for McAuliffe is weaker and less enthusiastic than it could…

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Venezuelan Authorities Seize More Than 100 Miners From Clandestine Bitcoin Mining Operation

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Venezuelan authorities seized over a hundred mining machines in a residential area of a central state. According to reports, the mining farm was operating illegally without permits that the national cryptocurrency watchdog, Sunacrip, requires for these operations. The seizure was led by the national police, officers from the national power company, and personnel from Sunacrip. Venezuelan Mining Farm Seized by Authorities Authorities seized over a hundred miners that were operating illegally in a clandestine farm located in a residential zone in Miranda, a central state in Venezuela. According to reports…

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BIA Dinner: Alchemy Pay CEO John Tan Celebrates Milestones of 150 Key Nodes and 200K Supporters

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Some of the premier figures in crypto gathered at the Waldorf Astoria, Shanghai on October 27th, 2021, to celebrate a new alliance with a mission to advance the blockchain industry. The Blockchain Infrastructure Alliance (BIA) was inaugurated with a dinner hosted by the crypto-fiat payment network, Alchemy Pay, alongside co-hosts Polygon Network, NEAR Protocol, Draper Dragon, and Bit.Store. The event was graced by the presence of over a hundred celebrities and leaders of the industry, including Tencent, Alipay, Mastercard, Binance, Huobi, OKEx, Polygon, NEAR, NEO and many others. At the…

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Up to 12 Million Iranians Own Cryptocurrency, Traders Choose Local Exchanges

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Cryptocurrencies are a popular investment among Iranians and estimates suggest that the number of those who already own one coin or another may be as high as 12 million. The majority of Iranian traders prefer the services of local crypto exchanges, the chief executive of one of them claims. Iranians Said to Transfer $180 Million in Crypto Daily Despite the lack of proper rules for most of the crypto space and the government stance on the matter, a growing number of Iranians have been investing in decentralized digital money over…

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McAuliffe, Youngkin tout national stakes in final Virginia blitz

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WEST SPRINGFIELD, Va. — The two men seeking to become Virginia’s next governor spent the final weekend before Tuesday’s election imploring supporters to send a message beyond the borders of this one-time swing state. “This is a moment for us,” Glenn Youngkin, the Republican nominee, told a crowd here Saturday evening. “We are going to send a shockwave across this country. And there’s not going to be a Democrat in any state, anywhere in this nation, who’s going to think his or her seat is safe.” Youngkin’s Democratic opponent, former…

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Elon Musk’s Warning About Government Spending and Unrealized Gains Tax Proposal Highlights Benefits of Bitcoin

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A warning by Tesla and Spacex CEO Elon Musk about the mounting national debt in the U.S., government spending, and the proposal to tax unrealized capital gains has highlighted the benefits of cryptocurrencies, particularly bitcoin. Elon Musk Says ‘Spending Is the Real Problem’ Tesla CEO Elon Musk made several tweets about the U.S. national debt and government spending last week. He also warned against the proposal to tax unrealized capital gains, aimed at billionaires, which was scuttled Friday amid questions about whether it would even be constitutional. Musk believes that…

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Rich Dad Poor Dad’s Robert Kiyosaki Warns US Sliding Into Depression After Giant Crash, Recommends Bitcoin

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Robert Kiyosaki, the best-selling author of Rich Dad Poor Dad, has warned that the U.S. is “sliding into depression.” He said that a giant crash is coming, after which “a new depression” will follow. Bitcoin is among his recommendations for smart investing. Robert Kiyosaki Sees Giant Crash Coming, Followed by a New Depression Famous author and investor Robert Kiyosaki has warned of a new depression in the U.S. following a “giant crash.” Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on…

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Mark Cuban and Voyager CEO Advise How to Get Into Crypto, Offer Tips for New Investors

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Shark Tank star and the owner of the NBA team Dallas Mavericks, Mark Cuban, and the CEO of crypto trading platform Voyager have given some advice to people thinking of starting to invest in cryptocurrencies. “You don’t have to spend a lot of money in order to learn. It’s not like the stock market where it’s almost impossible,” Cuban said. How to Get Into Crypto, What Investors Should Know The owner of the NBA team Dallas Mavericks, Mark Cuban, and the CEO of crypto platform Voyager, Steve Ehrlich, gave some…

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