China News Today Official TheBitTimes.com

Russia’s Finance Ministry is mulling ways to bring more liquidity to the market by giving a green light to DeFi organizations. With sanctions against Russia starting to bite, Moscow is seeking new ways to keep its markets afloat by legalizing decentralized finance. Speaking at Crypto Summit 2023, Finance Ministry official Ivan Chebeskov revealed that the move aims to bring more liquidity to digital financial assets (DFAs), a tokenized form of traditional derivatives or real-world assets. The ministry is actively supporting the development of DFAs but understands that in their current form, these assets “will not work,” Chebeskov was quoted as saying by Interfax news agency on Sept. 12. “We actively advocate developing of DFAs, but we understand that DFAs alone will not work, we need a bundle of DFAs and the decentralized world of finance to use the liquidity that already exists in decentralized finance, [to use] the liquidity that people have in cryptoc...

Derivatives liquidity protocol Synthetix seals new partnership with DWF Labs, landing a $20 million investment from the quantitative trading firm. Tokenized asset issuance platform Synthetix has secured a $20 million investment through a new partnership with Web3 investment and quantitative trading firm DWF Labs. The market making and algorithmic trading company acquired $15 million worth of Synthetix’ native token SNX paid for with USD Coin (USDC) in March 2023. DWF Labs will be tasked with increasing SNX token Liquidity and market making across centralized and decentralized exchanges. Synthetix’ perpetual futures will be integrated into DWF Labs’ trading business as part of the deal. DWF Labs has also committed to purchase another $5 million worth of SNX tokens once the integration of Synthetix’ services has been completed. Synthetix allows users to tokenize a variety of real-world assets into derivatives called Synths, which provide exposure to a range of different assets. Hold...