Square’s Fight Against Crypto Patent Hogs, Binance’s DeFi Push, and Crypto’s Backdoor Public Listing Attempt

Square, the bitcoin-friendly payments company, is taking a stand against crypto patent hogs by forming an alliance to pool crypto patents and preserve the industry’s open-source spirit. The Cryptocurrency Open Patent Alliance (COPA) aims to prevent companies from locking up useful technologies in patents, which Square believes stifles innovation and hinders crypto adoption. Members of COPA must pledge to make their patents freely available to all other members through a shared library.

In other news, Binance is ramping up its support for decentralized finance (DeFi) by connecting its decentralized Binance Smart Chain (BSC) to its centralized exchange (CeFi) and investing $100 million into DeFi projects built on BSC. This move will bridge the gap between DeFi and CeFi, providing Binance users with access to DeFi without having to leave the exchange.

Meanwhile, the latest attempt at a backdoor public listing in the crypto space involves blockchain services firm Diginex, which is set to merge with publicly traded 8i Enterprises Acquisition Corp. and list on Nasdaq by September 23. This alternative listing method, known as a special purpose acquisition company (SPAC), allows Diginex to bypass many of the regulatory barriers associated with a traditional IPO.

Overall, these developments in the crypto industry highlight the ongoing efforts to promote innovation, accessibility, and transparency within the space. Stay tuned for more updates on the evolving landscape of cryptocurrency and blockchain technology.