An In-Depth Look at Olympus DAO Protocol and the Not-So-Stable Stablecoin OHM

In mid-October, Bitcoin.com News reported on how decentralized finance (defi) or algorithmic stablecoins have seen significant demand in 2021. One particular stablecoin called OHM is quite different from the traditional reserve currency defi protocols today, as OHM is a free-floating currency backed only by what’s held in the Olympus DAO treasury. OHM may not be…

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

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…

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

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…

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

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.…