Galaxy Digital CEO and billionaire Mike Novogratz says he doesn’t think the crypto markets will bounce back any time soon. In the 2022 Galaxy Digital Q1 investor call, the CEO of the investment management firm says even though increased adoption from traditional finance firms has kept him optimistic about the crypto space overall, he’s not …
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Do Kwon, CEO of Terraform Labs, will not admit defeat. After an 18-hour wait in which his coins Terra (LUNA) and TerraUSD (UST) endured a face-ripping freefall, Do Kwon has announced his “rescue plan” for the Terra community. Terra is down 90% from its all-time highs, while the “stablecoin” UST is 75% below the dollar …
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London-based asset manager Fasanara Capital has launched a $350 million investment fund to back fintech and cryptocurrency startups that can deliver new use cases for the emerging Web3 economy. The company, which manages $3.5 billion in assets, is targeting early-stage startups in the fintech and crypto spheres. It plans to establish long-term relationships with project …
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Panic appeared to set in on crypto markets overnight on May 11 as Blockchain protocol Terra failed to steady its bleeding crypto assets. Data from Cointelegraph Markets Pro and TradingView showed both the firm’s in-house token, Terra (LUNA) and stablecoin, TerraUSD (UST) seeing fresh heavy losses on the day. A dubious new “all-time high” for …
The price of the LUNA token has dropped below $5, while the UST stablecoin has undergone a massive depegging from $1. The depegging has caught the attention of Janet Yellen, who called for stablecoin regulation by the end of the year. The crypto market in general could be in for a rough short-term future as …
The central bank of Israel has yet to decide whether to create a digital version of its fiat currency shekel, despite the public supporting the notion, Reuters reported. Bank of Israel considering CBDC Discussions over creating digital shekels have been going on since 2017, but the central bank only began to take it seriously in …
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The Swiss-based crypto exchange, SwissBorg, has released a report on the risks surrounding Terra’s stablecoin, UST. The token is currently undergoing extreme volatility, trading at just $0.59 at writing. SwissBorg issued a risk warning to users on May 10 and paused withdrawals of UST on the same day, hours before Binance followed suit. The report …
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Do Kwon has urged holders of LUNA to “stay strong,” as the price moves ever closer to zero. Following the UST stablecoin losing parity with USD, prices have plunged, falling to a new low this morning. LUNA, UST Tumble Toward Zero As of writing, LUNA/USD is trading at $5.45, which is marginally higher than its …
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Bitso, a Mexico-based cryptocurrency exchange, is expanding its range of crypto investing options. The company has announced it will now allow customers to earn funds just by holding bitcoin or stablecoins in its wallet. The program, called Bitso+, will offer different yields based on the quantities deposited by users, and it is designed to help …
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Kucoin, a Seychelles-based cryptocurrency exchange, has announced it has raised $150 million in a pre-Series B funding round. The negotiation, which was led by Jump Crypto with the participation of other investors including Circle Ventures, IDG Capital, and Matrix Partners, has conferred the exchange a valuation of $10 billion. The exchange will use these funds …
United24, a new fundraising platform announced recently by Ukrainian President Volodymyr Zelenskyy, accepts a number of cryptocurrencies, alongside traditional payment methods. The initiative also permits donors to choose how their money will be spent. Kyiv Launches New Platform for Donations Amid Ongoing War With Russia Ukraine, which has been increasingly relying on foreign donations to …
Terra (LUNA) has had a rough couple of days following the depegging of the UST stablecoin. The collapse of Terra LUNA has continued on Wednesday, with the token now dropping to below $5. Terra Luna registers an over 85% dip in 24 hours At the time of writing, LUNA was trading at $4.98, according to …
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Analytics firm Santiment says leading digital asset Bitcoin (BTC) is being moved onto exchange platforms at a rapid rate amid a sharp crypto market downturn. Santiment notes a net sum of about 40,620 BTC moved onto crypto exchange networks as prices cratered this week. With Bitcoin trading around $31,000 at time of writing, that total …
Just three days after debuting in the Indian market, United States-based crypto exchange Coinbase abruptly stopped using United Payments Interface (UPI), the most popular payment service in the region. Coinbase CEO Brian Armstrong later revealed that the service disruption was due to an “informal pressure” from India’s central bank. During Coinbase’s 2022 Quarterly Earnings call, …
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The UK Prime Minister, Boris Johnson, is empowering regulators to fast-track the process of seizing cryptocurrencies. Johnson has introduced new legislation that focuses on the seizure of digital assets used in criminal activities. The UK Prime Minister’s actions have also been motivated by the need to ensure that Russia does not turn towards digital assets …
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