Rumors are circulating online that Citadel Capital may be behind the UST crash as Janet Yellen announces a report on stablecoins. The hedge fund, which is well known for its involvement in the shorting of GameStop in 2021, may now be involved in shorting LUNA and the mass sell-off of UST that started early this …
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Do Kwon has announced a recovery plan in the works for UST and, therefore, the Terra ecosystem. UST has lost its peg from the dollar, and its native token LUNA is down is down 90%, currently trading at a 12-month low of $4.69. Close to announcing a recovery plan for $UST. Hang tight. — Do …
Continue reading “Luna Foundation Guard close to announcing recovery plan for TerraLuna, UST”
On May 10, crypto exchange Coinbase released its Q1 2022 earnings report doing little to calm choppy market conditions. It showed net revenue down 53% from the previous quarter, to $1.165 billion, and a net loss of $430 million. Mizuho Analyst Dan Dolev attributed this to falling trading volume due to the early arrival of …
Continue reading “Coinbase bankruptcy wording triggers warnings to move crypto off exchanges”
During the last few days, the crypto economy has been tumultuous as billions have fled the market in search of safety. The issues with LUNA sparked a significant sell-off as Terra’s native digital asset dropped 97% in value against the U.S. dollar in 24 hours. Terrausd has slipped 67% lower than the $1 parity and …
Following a fall below $30,000 on Tuesday, BTC marginally rebounded, as prices began to consolidate above support. ETH was also higher in today’s hump-day session, climbing above $2,400 in the process. Bitcoin Bitcoin’s bleeding somewhat eased on Wednesday, as a marginal rebound pushed the price above $30,000. Prices were trading below this level on Tuesday, …
President Vladimir Putin has approved amendments to his own decree requiring Russian citizens running for office to declare their property abroad. The updated regulation lists cryptocurrencies among the assets that candidates should report to the state. President Putin Requires Russian Officials to Reveal Crypto Asset Purchases in Foreign Countries Candidates for government offices in Russia …
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Meta CEO and founder Mark Zuckerberg says the technology conglomerate is experimenting with digital collectibles on two of its biggest social media brands. Zuckerberg says that Meta will initially test non-fungible tokens (NFTs) on Instagram and then Facebook before rolling out NFTs to other apps. “We’re starting building for NFTs not just in our metaverse …
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As I go about the Miami conference, I wonder, Aside from some of the conference speakers, where are these Bitcoin maximalists I keep hearing so much about? When I tell the customs official I’m going to Miami for the Bitcoin 2022 conference, there seems to be a light in the man’s eyes. He peppers me …
Continue reading “Bitcoin 2022 — Will the real maximalists please stand up?”
Even though the cryptocurrency market seems to be going through a bit of a lull at the moment, there’s no denying the fact that the industry has grown from strength to strength over the last few years, especially from an adoption perspective. To this point, a recent study revealed that the number of adults in …
Continue reading “Rising global adoption positions crypto perfectly for use in retail”
The creator of the Fearless Girl statue in New York, which stands for the empowerment of women, has brought the emblem into the crypto space by dropping a nonfungible token (NFT) counterpart for the symbolic art piece. In an interview with Cointelegraph, sculptor Kristen Visbal told the story behind the artwork’s significance and how she …
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Bitcoin (BTC) dropped by $1,500 in minutes on May 11 as the latest United States inflation data delivered mixed sentiment on the economic outlook. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin puts in fresh 10-month lows Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD diving from $31,500 to abruptly pierce the $30,000 support as …
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Environmental organizations based in the United States are asking government agencies to take a new approach to regulate cryptocurrency miners. Proof-of-work mining operations have been deemed highly energy-intensive, and they have been criticized for the negative effects caused on the environment. Environmentalists want the US government to take action against crypto miners Eight environmental organizations …
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Coinbase’s Q1 earnings report raised eyebrows earlier today by adding an update that states that Coinbase can leverage stored crypto funds of users in the event of bankruptcy Coinbase’s CEO Brian Armstrong later denied such claims by adding that their funds are safe and secure under the exchange’s custody. Earlier today, crypto exchange Coinbase shared …
Continue reading “Coinbase Quarterly Earnings Report Reveals New Bankruptcy Risks To Investors”
The “big four” in Korea warn investors of LUNA’s fluctuating price Bithumb and Coinone suspended deposits for now The update follows a massive crash in the market price of LUNA Terra’s UST stablecoin remains depegged after a previous recovery Upbit, the biggest cryptocurrency exchange in South Korea, tagged Terra’s governance token as a cautionary item …
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A popular crypto analyst is digging into the charts as the markets try to recover from a rocky start to the week. The pseudonymous analyst known as Altcoin Sherpa tells his 175,400 followers that leading smart contract platform Ethereum (ETH) has already fallen back to its January lows in the $2,100 range. “Interesting observation for …
