Facebook-Backed Cryptocurrency Project Diem to Launch US Stablecoin in Major Shift

Digital currency group Diem Association, formerly known as Facebook's Libra project, plans to launch a US dollar stablecoin as it scales back its global ambitions to focus on the United States, the group said.

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Ether Price Hits Record High as 2021 Gains Near 500 Percent

Cryptocurrency Ether hit another record high on Wednesday, taking gains this year to close to 500 percent on the back of growing interest in decentralised finance applications and increasing institutional interest in cryptocurrencies.

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Tesla Halts Use of Bitcoin for Purchases, CEO Elon Musk Tweets

Tesla will no longer accept Bitcoin for car purchases, CEO Elon Musk said on Wednesday, citing long-brewing environmental concerns for a swift reversal in the company's position on the cryptocurrency.

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Crypto boomers

In today's ETtech Morning Dispatch: Boomers are signing up to invest in crypto, Mamaearth may land new financing and SoftBank rejigs InMobi bet ahead of $1 billion IPO.

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Son rejigs InMobi bet ahead of $1 billion IPO, transfers shareholding to SVF 2

SoftBank Group invested $200 mn in InMobi in 2011, its first in India

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Indians over 45 are exploring the wild west of cryptocurrency

As awareness about cryptocurrency and its utility increases, the new asset class is catching the fancy of those aged over 45 despite the industry lacking a clear regulatory framework

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Sofina-led funding may value Mamaearth at $700 million

The financing round is expected to be in the range of $60-$80 million

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