Summary: Over $7.485 billion worth of Tether (USDT) has been redeemed for US dollars in the last week. The total supply of Tether (USDT) has reduced from the recent all-time high of $81.237 billion to $75.75 billion. The redemption of Tether and the decline of its circulating supply come on the backdrop of both UST …
Monthly archives: May 2022
Crypto Insiders Have Sent $2,500,000,000 in Bitcoin to Binance, According to Quant Analyst – Are They Finished Selling?
The chief executive of a leading crypto analytics firm is revealing that, before last week’s sell-off, insiders sent tens of thousands of Bitcoin (BTC) to crypto exchange Binance. Quant analyst Ki Young Ju tells his 291,700 Twitter followers that crypto insiders, which he refers to as market makers, transferred around 84,000 BTC worth roughly $2.5 …
Coinshift Closes $15 Million Series A Led by Tiger Global, Sequoia Capital India, Alameda Ventures
May 17, 2022 – Sheridan, United States Cash management company announces roadmap to build cutting-edge multi-chain treasury infrastructure for Web 3.0. Coinshift, leading treasury management and infrastructure platform that enables DAOs and crypto businesses to manage cash reserves, announced its $15 million Series A funding round and its roadmap for building a novel full-service treasury …
Global financial regulators will discuss crypto at G7: Report
Central bank governors and finance ministers from the Group of Seven, or G7, are reportedly planning to discuss the regulation of cryptocurrencies. According to a Tuesday report from Reuters, Bank of France Governor François Villeroy de Galhau said representatives from the United States, Canada, Japan, Germany, France, Italy and the United Kingdom will likely speak …
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Cointelegraph Research Terminal launches, home to critical crypto data reports
Cointelegraph — one of the oldest crypto media companies, founded in 2013 — has launched the Cointelegraph Research Terminal. The Research Terminal will be a convenient one-stop location to find past industry analysis, premium research reports and access to exclusive databases. The website is live, and subscriptions to the premium features are active. Cointelegraph Research …
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Coinbase bankruptcy disclosure spooks users of losing their funds
The cryptocurrency market has not performed well during the past few weeks. The crash in the market was triggered by the collapse of Terra (LUNA) and UST. Moreover, the recent policies by the Federal Reserve to tame the growing level of inflation have contributed to losses in both the stock and crypto market. Cryptocurrency investors …
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Unlocking the Next Steps in Crosschain Interoperability
Crosschain interoperability is emerging as one of the most crucial features of blockchain technology.The growing and pressing demand for interoperability solutions has led to a number of implementations, mostly crosschain messaging and crosschain bridging infrastructure, often without proper understanding and/or considerations for associated risks and security challenges. Despite the nascent stage of the crosschain industry, …
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Yuga Labs, Apecoin DAO Reportedly Considering Offers to Migrate APE Off Ethereum and Possibly Onto Avalanche or Flow
Summary: Yuga Labs and the Apecoin DAO board members are reportedly listening to offers on migrating ApeCoin off Ethereum. Avalanche and Flow are allegedly negotiating for Apecoin to migrate to their chains. Neither Yuga Labs nor the Apecoin DAO has confirmed the potential migration to Avalanche or Flow. The Bored Ape Yacht Club Otherdeed NFT …
Shiba Inu (SHIB) to Decline in Value to Almost Zero by 2030 – Analysts Predict
Summary: A panel of 36analysts from Finder.com has forecasted that Shiba Inu will be worth $0.00001875 by the end of the year on average Shiba Inu (SHIB) will then proceed to drop to $0.0000025 by 2025, and $0.000000235 by 2030 As the crypto markets mature, meme-coins such as Shiba Inu are projected to ‘die as …
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90% Of The Terra Community Votes Against Do Kwon’s Luna Fork Proposal
TerraForm Labs CEO, Do Kwon has suggested a new forking mechanism for the Terra Blockchain Do Kwon’s fork proposal has met with intense criticism across the board with the majority of the community members voting against its implementation. In an interesting turn of events, TerraForm Labs CEO Do Kwon has put forward another proposal suggesting …
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Tether explains why it ‘has nothing in common’ with Terra UST
The implosion of Terra UST has damaged the reputation of stablecoins and the broader crypto industry. But in an attempt to distance itself from the fallout, Tether says it is different. In a recent blog post, Tether points out that, being a collateralized stablecoin, “it has nothing in common” with UST, which relies on an …
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UK Treasury reaffirms commitment to regulate stablecoins following TerraLUNA fiasco
UK’s exchequer has just affirmed its vow to regulate stablecoins to create a healthy environment for stablecoin issuers and service providers, given the recent TerraUSD (UST) and Terra (LUNA) market crash. While panic and uncertainty still loom over the digital asset industry, some government agencies have been quick to show their support for cryptocurrencies. The …
EU regulators criticize stablecoins to promote Euro CBDC
EU regulators are using the recent Terra Luna situation to push forward with a Digital Euro CBDC. Many will see the volatility created by the attack on the algorithmically backed stablecoin, UST, as a reason to increase the regulation of stablecoins. With $16 billion worth of UST evaporating within days, it is hard to argue …
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Report: Crypto sees record investment despite bearish market
CoinShares’ latest report has revealed that investment into crypto products scored a record inflow of $274 million last week as crypto investors looked to take advantage of the market-wide crash that resulted in the market cap of the industry dropping below the $1.5 trillion mark. Investors flock Bitcoin According to the report, the primary beneficiary …
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GameFi Slides on Macro Trends but Individual Projects Shine | April Monthly Report
In April, GameFi game projects grew from 1,406 to 1,479, a monthly increase of 5.2%, with growth concentrated in the BSC and Polygon chains. Monthly active users were 9.22 million, and transaction volume was $34.37 million. But compared to March, active users and transaction volume fell by 24.9% and 73.4%, respectively. However, despite declining users …