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Bank rate hikes cut stablecoin growth by 3 points

Stablecoin market growth has slowed when U.S. banks raised deposit interest rates, with new research finding that a one-basis-point increase in deposit rates was associated with roughly three percentage points less stablecoin market capitalization growth over ten weeks. Summary BIS researchers found higher deposit rates were associated with slower stablecoin growth over ten weeks.  A…

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DICT, BetterGov.PH to Co-Develop Official Philippine Government Web Portal

Weekly Crypto Roundup Get the weekly briefing for Philippine crypto insiders, from the country’s longest-standing crypto and blockchain news publication. The Department of Information and Communications Technology (DICT) and civic tech volunteer network BetterGov.PH will co-develop the official national government web portal, gov.ph, and will open its technical codebase to public collaboration. Announced during the…

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Cysic halts bridge after hacker creates 10 million CYS

Cysic has suspended its cross-chain bridge after an attacker reportedly exploited a processing flaw to mint 10 million CYS tokens without authorization on BNB Smart Chain on October 17. Summary Cysic suspended its cross-chain bridge after an attacker reportedly minted 10 million unauthorized CYS tokens. The attacker allegedly exploited bridge processing weaknesses after gaining unauthorized…

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