The world’s richest non-exchange Bitcoin (BTC) whale is adding more of the flagship crypto asset as the market rebounds. The wallet has added 806 BTC over the past seven days as the price of Bitcoin now hovers above $31,000. The wallet holds the largest number of Bitcoin after Binance and Bitfinex crypto exchanges. Per data …
Monthly archives: May 2022
LUNA 2 price jumps 90% ahead of big Binance airdrop
The price of Terra (LUNA) briefly spiked around 90% overnight to an intraday high of $11.33 ahead of Binance’s airdrop but has since dropped back to around $8.26 at the time of writing. At current prices, as per CoinGecko data, the increase to $8.26 represents a 35% gain over the past 24 hours. Overall, however, …
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Rival blockchain projects angling for talent from Terra developers
The collapse of the Terra ecosystem, which included most of its apps and protocols, has created a diaspora of developers from which opportunistic blockchain companies are hoping to snap up talent. Polygon, one of the largest blockchains by total value locked (TVL), is actively seeking out Terra developers to add valuable expertise and support to …
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Chinese state media signals tighter crypto regulations in Terra aftermath
The China state-owned media outlet, the Economic Daily, has signaled that the Chinese government may introduce even tighter regulations on cryptocurrencies and stablecoins due to the collapse of the Terra ecosystem. In an article published May 31, the outlet detailed the collapse of TerraUSD (UST) and Luna (LUNA), explaining the workings of the algorithmic stablecoin. …
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Shiba Inu founder deletes social media posts, steps down from community
Pseudonymous Shiba Inu (SHIB) founder ‘Ryoshi’ has walked away from the community after deleting all of their Tweets and blog posts this week. Much like Bitcoin (BTC) founder Satoshi Nakamoto, Ryoshi’s identity has remained unknown since the project launched in August 2020. Additionally, they have also held a hands-off approach to the memecoin much like …
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Ropsten Ethereum testnet ready for Merge ‘first dress rehearsal’
The Ropsten testnet on the Ethereum network is ready to set the stage for the “first dress rehearsal” of the Merge to adopt the Proof-of-Stake (PoS) consensus mechanism. Core Ethereum developer Tim Beiko announced on May 31 that a new Beacon Chain for Ropsten has been launched. It will serve as the precursor for the …
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Aussie consumer group calls for better crypto regs due to ‘lagging laws’
Australian consumer advocacy group CHOICE has called on the federal government to provide better protection for crypto investors while submitting a proposed regulatory framework for cryptocurrency exchanges operating in the country. The regulatory framework was submitted in response to the federal Treasury’s consultation paper for “crypto asset secondary service providers” (CASSPs) defined as firms providing …
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Australian consumer group calls for urgent regulation of crypto
👋 Want to work with us? CryptoSlate is hiring for a handful of positions! Australian consumer advocacy group Choice urges the new Labor government to prioritize cryptocurrency regulation, the Australian Associated Press reported. The call for regulation comes amid investor protection concerns after a few recent crypto exchange collapses and a rise in crypto scams …
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From boom to gloom, the crypto investors now unable to pay their tax bill
👋 Want to work with us? CryptoSlate is hiring for a handful of positions! 2021 was a record-breaking year, as the total crypto market cap hit a high of just short of $3 trillion, with the market leader, Bitcoin, peaking at $69,000. Six months from the peak, an enduring downtrend has tanked token values, and …
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Crypto markets rally as Bitcoin climbs back over $31k
👋 Want to work with us? CryptoSlate is hiring for a handful of positions! The crypto market saw a rare comeback on Monday, May 30, after nine straight red weeks for Bitcoin. Juan Pellicer, Research Analyst at Into The Block, believes the rally can be traced to the current recovery in the stock market, “I …
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Indian Government Finalizing Crypto Consultation Paper — ‘We Are Looking at a Global Paradigm on Digital Assets’
India’s economic affairs secretary has reportedly revealed that the government’s consultation paper on cryptocurrency is “fairly ready.” He explained that the Indian government is looking at “a global paradigm on digital assets,” emphasizing that “There has to be a broad framework on which all economies have to be together.” Economic Affairs Secretary Ajay Seth on …
Bank of America CEO: We Have Hundreds of Blockchain Patents — But Regulation Won’t Allow Us to Engage in Crypto
The CEO of Bank of America says that his bank has hundreds of blockchain patents but regulations will not allow it to engage in crypto. “The reality is that we can’t do it by regulation,” he said. Bank of America’s CEO on Crypto Bank of America (BOA) CEO Brian Moynihan talked about cryptocurrency in an …
Luna Classic (LUNC) pricing error leads to Mirror Protocol exploit
A mismatch in the reported price of underlying assets on synthetic assets DeFi platform Mirror Protocol has caused an ongoing exploit that has the potential to drain all of its funds. The exploit was observed on May 29 by governance participant ‘Mirroruser’ on the protocol’s forum. As of the time of writing, the mBTC, mDOT, …
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Bitcoin Touches $30,000, Is The Coin Headed Towards Recovery?
Bitcoin traded at $30,000 during the time of writing. The coin has maintained its resistance at $28,000 as the bears came to rescue. Over the last 24 hours itself, Bitcoin attempted to break its consolidation. For the consolidation to be invalidated it has to trade above the $31,000 price level. The lateral movement might cause …
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Billionaire Tim Draper On What Will Trigger The Next Bitcoin Bull Market
Bitcoin has been on a bear path given its recent movements and it’s no secret that the digital asset is well out of the bull market. This has sparked speculations as to what will actually trigger another bull rally for the pioneer cryptocurrency. Billionaire Tim Draper who has always been vocal when it comes to …
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