💵 USD-backed stablecoins Today, both Paxos and Gemini announced their USD-backed stablecoins, approved by the NYDFS. Conor O'Hanlon outlines some commonalities between Gemini Dollars and the Paxos Standard including the ability for law enforcement to freeze accounts, monthly auditing of account balances, segregated deposit accounts and money market accounts/US treasuries, and ERC-20.
🌃 Citigroup is the latest bank to launch a crypto custody solution. The team's created a Digital Asset Receipt (DAR) which helps clients invest in cryptocurrencies (without owning them).
For a complete listof today's trending articles, head on over here.
READS OF THE DAY
📖Cliffhangers The third post of Laurent's series on Bitcoin's PoW which explores the idea of "an optimal age of the UTXOs."
🚀 Interstellar: Chain and Stellar officially went public with the merger today.
👾 ERC721x: Loom just announced ERC721x - an extension of ERC721 that adds support for multi-fungible tokens and batch transfers (while staying fully backward compatible).
🇩🇪 ETHBerlin: To see the full list of ethereum projects that launched during ETHBerlin, hop on over here. And in case you're wondering, the next ETHGlobal event is in SF on October 5-7. You can sign up to attend here.
THING TO KNOW
Tumblers make it difficult to prove where cryptocurrencies came from. A tumbler tries to remove the link between the original transaction and final address of the coin by sending coins from you to other people and coins from them to you. It also randomizes transaction amounts and can add time delays to the transactions.