{"id":31542,"date":"2023-07-05T05:24:49","date_gmt":"2023-07-05T09:24:49","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/bitget-launches-crypto-loans-product-ethereum-community-proposes-new-standard-to-strengthen-defi-protocols-security-china-tightens-exports-of-two-key-materials-used-in-computer-chips\/"},"modified":"2023-07-05T05:24:50","modified_gmt":"2023-07-05T09:24:50","slug":"bitget-launches-crypto-loans-product-ethereum-community-proposes-new-standard-to-strengthen-defi-protocols-security-china-tightens-exports-of-two-key-materials-used-in-computer-chips","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=31542","title":{"rendered":"Bitget Launches Crypto Loans Product, Ethereum Community Proposes New Standard to Strengthen DeFi Protocols&#8217; Security, China Tightens Exports of Two Key Materials Used in Computer Chips"},"content":{"rendered":"<div>\n<p><i>Get your daily, bite-sized digest of cryptoasset and blockchain-related news \u2013 investigating the stories flying under the radar of today\u2019s crypto news.<\/i><br \/>__________<\/p>\n<h2 style=\"text-align:justify;\">Exchange news<\/h2>\n<ul>\n<li style=\"text-align:justify;\"><strong>Bitget<\/strong> announced the launch of its native Crypto Loans product, based on a dual-coin approach, allowing users to stake one coin from their holdings as collateral in exchange for the ability to borrow a corresponding amount in another coin, said the press release. Each loan is issued at a specific interest rate to pay, with the borrowed amount determined by the market value of the staked collateral. The loans are issued within a predetermined period, and users can choose to repay before or at the predetermined deadline, it said.\u00a0<\/li>\n<\/ul>\n<h2 style=\"text-align:justify;\">DeFi news<\/h2>\n<ul>\n<li style=\"text-align:justify;\">A group of Ethereum community members proposed a new standard to improve the security of decentralized finance (DeFi) protocols. Per the proposal, &#8220;this standard outlines a smart contract interface for a Circuit Breaker that triggers a temporary halt on protocol-wide token outflows when a threshold is exceeded for a predefined metric. This circuit breaker does not assume the structure of the underlying protocol, and mainly serves as a pass-through vehicle for token outflows.&#8221;<\/li>\n<\/ul>\n<h2 style=\"text-align:justify;\">Regulation news<\/h2>\n<ul>\n<li style=\"text-align:justify;\">The Chinese government is tightening controls over exports of two key materials used to make computer chips. From next month, special licenses will be needed to export gallium and germanium from China, the world&#8217;s biggest producer of the metals, the BBC News reported. The <strong>Ministry of Commerce<\/strong> said that the restrictions were needed to &#8220;safeguard national security and interests.&#8221;\u00a0<\/li>\n<\/ul>\n<h2 style=\"text-align:justify;\">Legal news<\/h2>\n<ul>\n<li style=\"text-align:justify;\">US-based law firm <strong>McDermott Will &amp; Emery<\/strong> filed for compensation of $5.1 million from the creditors of bankrupt crypto brokerage firm <strong>Voyager Digital<\/strong> for legal services offered between March 1 and May 13, 2023. The firm billed the legal fees to the &#8220;Official Committee of Unsecured Creditors,&#8221; stating that it charged an hourly rate of $1,026.76 for its services during the period.<\/li>\n<\/ul>\n<h2 style=\"text-align:justify;\">NFT news<\/h2>\n<ul>\n<li style=\"text-align:justify;\">Swiss investment bank <strong>Credit Suisse<\/strong> is teaming up with the <strong>Swiss Football Association<\/strong> (SFA) to release a non-fungible token (NFT) collection. The 756 NFTs, minted on Ethereum and featuring portraits of the members of the <strong>Swiss Women&#8217;s National Team<\/strong>, will be available for purchase from July 11 on <strong>CSX<\/strong>, the bank&#8217;s digital banking application. The proceeds will be donated to the team and to other organizations dedicated to supporting female football players.<\/li>\n<\/ul>\n<h2 style=\"text-align:justify;\">Stablecoin news<\/h2>\n<ul>\n<li style=\"text-align:justify;\">The value of payment transactions powered by stablecoins will exceed $187 billion globally by 2028, up from $53 billion in 2023, found <strong>Juniper Research<\/strong>, a research and analytical services provider. &#8220;By 2028, the value of cross-border stablecoin payments will represent almost 73% of total stablecoin payments transaction values globally; showing the dominance of cross-border use cases,&#8221; it stated.\u00a0<\/li>\n<\/ul>\n<h2 style=\"text-align:justify;\">Mining news<\/h2>\n<ul>\n<li style=\"text-align:justify;\"><strong>CleanSpark<\/strong> released its unaudited bitcoin (BTC) mining and operations update for the month ending June 30, reporting: 491 BTC mined in June; total BTC holdings of 529; CY2023 bitcoin mined of 3,495; and a deployed fleet of about 68,678 bitcoin miners with a hashrate of 6.7 EH\/s. Per the press release, the company funded growth and operations through the sale of 413 bitcoins in June at an average of approximately $27,200 per BTC. These sales equated to proceeds of ca. $11.2 million. June daily BTC mined averaged 16.4 and reached a high of 17.4, it said.\u00a0<\/li>\n<\/ul><\/div>\n<p>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/today-in-crypto-bitget-launches-crypto-loans-product-ethereum-community-proposes-new-standard-to-strengthen-defi-protocols-security-china-tightens-exports-of-two-key-materials-used-in-computer-chips.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Get your daily, bite-sized digest of cryptoasset and blockchain-related news \u2013 investigating the stories flying under the radar of today\u2019s crypto news.__________ Exchange news Bitget announced the launch of its native Crypto Loans product, based on a dual-coin approach, allowing users to stake one coin from their holdings as collateral in exchange for the ability [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":31543,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-31542","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitget Launches Crypto Loans Product, Ethereum Community Proposes New Standard to Strengthen DeFi Protocols&#039; Security, China Tightens Exports of Two Key Materials Used in Computer Chips | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Get your daily, bite-sized digest of cryptoasset and blockchain-related news \u2013 investigating the stories flying under the radar of today\u2019s crypto\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=31542\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitget Launches Crypto Loans Product, Ethereum Community Proposes New Standard to Strengthen DeFi Protocols&#039; Security, China Tightens Exports of Two Key Materials Used in Computer Chips | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Get your daily, bite-sized digest of cryptoasset and blockchain-related news \u2013 investigating the stories flying under the radar of today\u2019s crypto\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=31542\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-05T09:24:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-05T09:24:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/07\/adobestock-dan74-1.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1385\" \/>\n\t<meta property=\"og:image:height\" content=\"816\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=31542#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=31542\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Bitget Launches Crypto Loans Product, Ethereum Community Proposes New Standard to Strengthen DeFi Protocols&#8217; 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