PancakeSwap, the decentralized finance (DeFi) application built on Binance Smart Chain, synonymous with its automated market maker (AMM) service and its quirky branding style, has released a governance proposal for the second iteration of its tokenomics roadmap. The centerpiece of the lite paper’s new version suggested an imposed supply cap on the project’s native token, …
Continue reading “PancakeSwap governance proposal set to cap CAKE supply at 750M”
Both BlackRock and Citadel Securities have denied the rumors that they were involved in the recent crash of LUNA and UST. Unsubstantiated rumors have been making the rounds on social media, saying that the two firms shorted LUNA, among other actions. The UST token continues to be significantly depegged from its $1 value. Citadel Securities …
The value of Tether (USDT) stablecoin against the U.S. dollar is seeing significant downward pressure on exchanges and has fallen below its $1 peg price. May 11 saw a 0.8% swing to the downside before closing the day at $0.9958. However, there was a massive 3% downward swing on May 12, with the $0.9663 level …
Continue reading “Hold on to your hats, Tether USDT shows signs of de-pegging on exchanges”
Crypto analyst Caleb Franzen says that we’re currently in a bear market. The evidence of that is the performance of crypto-related equities, most of which have lost half of their value on the year-to-date metric. Crypto stocks decline Topping the list is MicroStrategy. The business intelligence and software company has the biggest Bitcoin holdings among …
Continue reading “Analyst says crypto stocks performance is proof we are in bear market”
The Global Esports Federation, whose goal is to become officially recognized as the governing body for the esports ecosystem, has formed a metaverse council to “focus on shaping tangible metaverse development initiatives for our global community.” The council is to be made up of blockchain experts, NFT developers, and social media influencers. Paul J. Foster, …
Continue reading “Global Esports Federation launches Metaverse Council”
A former Terra Labs employee has reportedly revealed that Terra co-founder Do Kwon was one of the creators of Basis Cash. This algorithmic stablecoin failed last year, a Coindesk report has revealed. Citing a former engineer at Terraform Labs, Hyungsuk Kang, the report stated that Basis Cash was, in fact, the early works of Terra creators, …
Continue reading “Terra founder reportedly has link to failed stablecoin, Basis Cash”
Russia’s Bitriver, one of the largest operators of crypto mining data centers, may take legal action against the U.S. over the decision to place it under sanctions. The company insists it does not help the Russian government to circumvent international restrictions. Bitriver Rejects US Accusations as Unfounded, Sees No Legal Ground for Sanctions Leading Russian …
Continue reading “Russian Crypto Mining Giant Bitriver Considers Challenging US Sanctions”
Masterminds of one of South Africa’s biggest bitcoin Ponzi schemes, Mirror Trading International (MTI), have been asked by the scheme’s liquidators to pay back over $291 million to cover the scam operation’s debts. Liquidators’ Influence Liquidators of the South African bitcoin Ponzi scheme, Mirror Trading International (MTI), have issued summonses against eighteen individuals believed to …
A crypto strategist and trader who has long predicted a massive Bitcoin crash below $30,000 is revealing how low he believes BTC will go. The pseudonymous crypto analyst Capo tells his 289,400 Twitter followers that Bitcoin’s free fall is not over yet. He cites large whale transfers of BTC to crypto exchanges as the main …
Bitcoin (BTC) fell out of its long-term trading range on May 12 as ongoing sell pressure reduced markets to 2020 levels. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Tether wobbles as UST stays under $0.60 Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it exited the range in which it had traded since the …
A crypto trader who defrauded over 170 people was sentenced to 42 months in prison on May 11 for operating a series of cryptocurrency funds claiming to make big returns but in reality were losing money and instead operated as a Ponzi scheme. The DOJ said that 25 year old Jeremy Spence had solicited millions …
Continue reading “Terrible crypto trader gets 42 months for fraud, claiming he was a total gun”
HodlX Guest Post Submit Your Post Some say we are already in the metaverse. The Covid-19 pandemic has ushered in the era of a digital universe where we meet over Zoom, shop online and care more about our online social media extensions of ourselves than the physical world. The metaverse is creating its own world …
Continue reading “What’s the Future for Fashion Brands in the Metaverse?”
Ethereum has taken out the top spot on Twitter as the most hated of five cryptocurrencies studied, while the meme-token Dogecoin is the most liked. The findings emerged from a new report by TRG Datacenters that analyzed a year’s worth of tweets between Jan. 2021 to Jan. 2022, concerning five of the most popular cryptocurrencies …
Continue reading “Doge gets more love on Twitter and Ethereum gets more hate: Data analysis”
With crypto markets tanking, three crypto-focused exchange-traded funds (ETFs) picked a difficult day to commence trading on local exchange Cboe Australia today. The trio’s launch marks the first crypto ETFs to go live in Australia, with two of them focused on offering exposure to Bitcoin (BTC) and the other focused on Ethereum (ETH). So far …
Continue reading “Aussie crypto ETFs see $1.3M volume so far on difficult launch day”
Newly discovered documents could pose a major roadblock for the Securities and Exchange Commission (SEC) in its case against Ripple if they prove a former commission official had a conflict of interest. The SEC has been embroiled in a legal battle against blockchain company Ripple (XRP) since 2020 in which the crypto company and senior …
Continue reading “Could the SEC case against Ripple falter over a conflict of interest?”
