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Mitsubishi UFJ Financial Group (MUFG), one of Japan’s largest financial institutions, said it will halt its high-speed blockchain payment network GO-NET Japan due to slow profit growth in its blockchain payments business and the harsh business environment during the COVID-19. It is reported that GO-NET Japan was established in April 2019 and is a subsidiary of Global Open Network, a joint venture between MUFG and Akamai Technologies. MUFG’s decision comes after it earlier this month announced a plan to issue a stablecoin pegged to the Japanese yen in 2023.
According to the data, in the past 24 hours, the total liquidation amount of DeFi lending protocols on the entire network was US$17.19 million, an increase of 2535% from the previous day and a new high in the past 30 days. Among them, the top three projects by liquidation amount are Aave ($11.89 million), Venus ($3.3 million) and Compound ($1.04 million). The price of BTC hit $34,500 in the early trading session today after Russia started their military operation in Ukraine, and has since recovered to $38,500. Bitcoin’s price movement is expected to suffer great volatility in the coming week if geopolitical issues continue to escalate.
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