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dYdX to allow permissionless listing with new update

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In a significant development for the decentralized finance (DeFi) sector, dYdX, a leading decentralized exchange (DEX), has announced the rollout of permissionless listings and the introduction of a MegaVault liquidity update. These new features are set to enhance the platform’s flexibility and attract a wider range of users and assets.

The introduction of permissionless listings allows any project to list its tokens on dYdX without requiring approval from a centralized authority. This move democratizes access to the exchange, empowering smaller and emerging projects to gain exposure and liquidity in a more open and transparent environment. By removing barriers to entry, dYdX aims to foster innovation and expand the variety of assets available to traders on its platform.

In conjunction with permissionless listings, dYdX has also launched the MegaVault liquidity update, which is designed to significantly improve liquidity across the exchange. The update enhances the platform’s ability to handle larger trades with minimal slippage, making it more attractive to institutional investors and high-volume traders. The MegaVault feature pools liquidity from multiple sources, ensuring that dYdX can offer competitive pricing and efficient execution even during periods of high market volatility.

These updates represent dYdX’s ongoing commitment to decentralization and user empowerment. By introducing permissionless listings and enhancing liquidity, dYdX is positioning itself as a more robust and inclusive platform within the DeFi ecosystem. The exchange continues to push the boundaries of what’s possible in decentralized trading, setting a new standard for innovation and accessibility in the crypto space.

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7-Eleven South Korea to accept CBDC payments in national pilot program

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7-Eleven is set to participate in the testing phase of a central bank digital currency (CBDC) initiative, running from April to June. The retail giant’s involvement highlights the growing push for digital currency integration in everyday transactions.

The pilot program will assess the feasibility of CBDC payments at 7-Eleven stores, allowing customers to make purchases using the digital currency. The initiative is part of a broader effort to explore the real-world application of CBDCs in retail environments, potentially shaping future payment systems.

As central banks worldwide accelerate their digital currency research, private sector collaboration is seen as crucial for widespread adoption. If successful, 7-Eleven’s participation could pave the way for broader CBDC usage across retail and commercial sectors.

The outcome of the testing phase will provide valuable insights into consumer adoption, transaction efficiency, and potential regulatory considerations, influencing how CBDCs are integrated into mainstream financial systems.

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SEC and Gemini ask to pause lawsuit to explore ‘potential resolution’

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The U.S. Securities and Exchange Commission (SEC) and crypto exchange Gemini have agreed to pause legal proceedings as both sides explore a potential resolution to their ongoing lawsuit. The move signals a possible settlement in the high-profile case, which centers around Gemini’s now-defunct Earn program.

The SEC initially sued Gemini, alleging that the Earn program—designed to offer users yield on crypto deposits—operated as an unregistered securities offering. Gemini has pushed back against the claims, arguing that its operations complied with regulatory standards.

By pausing litigation, both parties may be looking for a compromise that could set a precedent for crypto lending products in the U.S. A settlement could also provide regulatory clarity for similar platforms navigating SEC scrutiny.

While the outcome remains uncertain, the crypto industry is closely watching the case, as its resolution could impact future enforcement actions and the broader regulatory approach toward digital asset lending services.

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GameStop finishes $1.5B raise to add Bitcoin to its balance sheet

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GameStop has successfully completed a debt offering, raising capital that may be used to acquire Bitcoin, signaling the company’s deeper foray into digital assets. The move aligns with its broader strategy to diversify beyond traditional retail operations and into emerging financial technologies.

While GameStop has not confirmed the exact allocation of the funds, market speculation suggests that a portion could be used to buy Bitcoin, following in the footsteps of companies like MicroStrategy. The potential investment would reinforce GameStop’s ongoing pivot toward blockchain and digital assets, an effort that began with its NFT marketplace and crypto-related initiatives.

Analysts see this development as part of a growing trend of corporations exploring Bitcoin as a reserve asset amid concerns over inflation and monetary policy. If GameStop proceeds with the acquisition, it could further validate Bitcoin’s role as a strategic investment for publicly traded companies.

The company’s board will ultimately decide how the newly raised capital is deployed. Investors and the broader crypto market are watching closely for any official announcements regarding GameStop’s Bitcoin strategy.

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