252 - Uptober: Banks Go Onchain, Blockchains Go Offline

This week we've got a pretty good snapshot of where crypto is heading, because while the banks are finally getting serious about blockchain, some of the blockchains that promised to change finance are discovering that staying alive is actually quite difficult.

First up, SWIFT; the system that moves money between pretty much every bank on Earth, has switched on its own blockchain ledger, with 17 major banks already piloting it. And yes, there's a very familiar Australian name in that group.

Then we've got Blast. A blockchain that once had more than $2.3 billion locked on it is shutting down, with users given just three weeks to get their money out. At its peak it was making millions a month. Last month it made $1,793.

And finally, Tether is facing some pretty uncomfortable questions from the US Senate, with an investigation claiming USDT has become a major tool for Iran to get around sanctions. Tether, unsurprisingly, has some things to say about that.

Let's get into it 🚀

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TIMESTAMPS

1:58 Swift - the plumbing of global crypto finance - switches on its blockchain

7:09 Blast announces it's shutting down

9:22 Tether gets super uncomfy!!!

12:02 Short, sharp news bites

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