πŸš€ More riches await at the end of the Rainbow Bridge! 🌈

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    πŸš€ More riches await at the end of the Rainbow Bridge! 🌈

    Don't miss out on the juiciest news in the crypto space! Stay in the loop to ensure that you receive our latest newsletters, right in your inbox!

    Have a terrific Tuesday, Geckos!

     

    A Bloomberg article stated that the US Treasury Department would release a report this week indicating that the SEC has extensive authority to regulate stablecoins such as Tether (USDT).

     

    In addition, the report will request Congress to specify how stablecoins should be regulated in the same way that bank deposits are.

     

    According to the report, Gary Gensler is attempting to make it apparent that the government would take an active role in stablecoin regulation in the short term while waiting for legislative improvements in the long run.

     

    In today's news, Near Protocol announces a $800M ecosystem fund, Mastercard partners with Bakkt to integrate crypto payments, and German authorities auction off a whole lot of Bitcoins.

     

    Read on!


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    The Future Is Near

     

    The Near Protocol (NEAR) has announced a record-breaking $800 million grants to support ecosystem growth.

     

    The fund includes a $250 million ecosystem grant to help existing projects expand, a $100 million regional fund, and a $100 million startup fund.

     

    Near co-founder Illia Polosukhin stated that the program has already allocated $45 million this year, emphasizing early-stage ecosystem building blocks.

     

    CoinDesk

    Bridging The Gap Between Crypto And Fiat           

                      

    Mastercard and digital asset platform Bakkt announced a partnership Monday to enable retailers and banks to incorporate cryptocurrencies into their operations.

     

    According to Mastercard, customers can purchase, sell, and store digital assets through Bakkt's custodial wallets, and they can receive and spend loyalty benefits in bitcoin.

     

    According to Bakkt's Nancy Gordon, these new services represent an opportunity to satisfy the rising demand for crypto, payment, and reward flexibility.

     

    CoinDesk

    Discounted Bitcoin Up For Grabs

     

    As reported on October 25, the Ministry of Justice of the State of NRW Germany has begun its first auction of seized Bitcoin (BTC).

     

    The first batch of the ministry's 215 bitcoins is available for sale on the state's auction portal and slated to expire on October 27.

     

    As of press time, the largest lot of ten bitcoins had garnered only four bids, resulting in a significant discount.

     

    TheBlockCrypto


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    Cryptoassets are unregulated in some EU countries and in the UK. No consumer protection. Your capital is at risk.

    Yield Farming

     

    Yield farming involves putting cryptocurrency into a DeFi protocol to collect interest on trading fees. Liquidity providers can profit by providing liquidity in DeFi protocols like Uniswap, utilizing assets that would otherwise sit idle on an exchange or hot wallet.

      

    Learn about other Crypto terms here

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