Crypto Cashback App Eco Raises Another $60M, Is Monitoring BlockFi Situation – Decrypt

In brief

Crypto wallet app Eco has raised another $60 million, bringing its total funding to $95 million.
BlockFi, which has a similar business model, has recently been targeted by regulators in four states over alleged unregistered securities offerings.

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What bear market? Crypto firms raised over $4.4 billion in Q2 2021 alone 

US Feds want to tame ‘wildcat’ stablecoins like Tether and USDC
A research paper titled “Taming Wildcat Stablecoins,” published in the Social Science Research Network (SSRN) by a professor of finance at Yale, Gary Gorton, and the US Federal Reserve attorney Jeffery Zhang, urges supervision of stable

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Tether promises an audit in ‘months’ as Paxos claims USDT is not a real stablecoin

There will be an official audit of the world’s most popular stablecoin Tether within months according to the project’s general counsel.
An audit for the world’s third-largest digital asset has been awaited for several years and increased regulatory pressure appears to have accelerated the process.

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Auditors reveal USDC backing as Jim Cramer sounds alarm over Tether’s mad money

Auditors working for Circle have disclosed the reserves backing the firm’s USDC stablecoin, while Mad Money’s Jim Cramer has questioned Tether’s lack of transparency with its USDT reserves.

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Treasury secretary Yellen urges lawmakers to quickly introduce stablecoin guidelines

United States Treasury Secretary Janet Yellen has told financial regulators that the government must act quickly to establish a regulatory framework for stablecoins.
The comments came at Monday’s meeting of the President’s Working Group on Financial Markets.

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Concerns raised as $10 million in Uniswap tokens got sold after ‘insider’ proposal

The new policy organization, DeFi Education Fund, focused on promoting decentralized finance (DeFi) education and advocacy were supported through the Ethereum (ETH) DeFi protocol Uniswap and it deployed half of the funds received from the protocol’s treasury in a single transaction.

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