Coinbase’s junk bonds are plummeting in value, owing to poor first-quarter performance and concerns about what would happen if the company goes bankrupt. According to bond trading data from Trace Bonds, Coinbase’s junk offerings tumbled to 17% and 5.2% since its first-quarter report revealed on May 10. This means that the bonds’ current values are …
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FTX cryptocurrency exchange founder Sam Bankman-Fried is weighing in on the future of stablecoins after two top cryptos suffered staggering losses this week. Bankman-Fried recently tweeted about how so-called stablecoins ought to have separate and better-refined definitions in the wake of Luna Foundation Guard’s TerraUSD (UST) losing its US dollar (USD) peg and taking Terra …
Crypto exchange giant Coinbase is announcing plans to suspend trading of TerraUSD (UST) and Wrapped Luna (WLUNA) on all levels of the platform. Coinbase Assets recently made the announcement on Twitter that, in light of extreme volatility within the Terra (LUNA) ecosystem, UST and WLUNA trading will be suspended in two weeks. In light of recent volatility …
Altcoins saw a relief bounce on May 13 as the initial panic sparked by Bitcoin’s sell-off Terra’s UST collapse and multiple stablecoins losing their dollar peg begins to decrease and risk loving traders look to scoop up assets trading at yearly lows. Daily cryptocurrency market performance. Source: Coin360 Despite the significant correction that occurred over …
Terra’s meltdown forced cryptocurrency investors to ask a question they never thought was possible: Will TerraUSD (UST) or Terra (LUNA) reach $1.00 first? The magnitude of this question provides a sobering reminder of just how quickly things can change in crypto. While Terraform Labs co-founder Do Kwon remains defiant, many people in the industry are …
Continue reading “Crypto Biz: Luna’s meltdown will live on in infamy, May 5–11, 2022”
The Bitcoin price prediction is likely to spread the bearish move below $29,000 after numerous attempts to hold gains above $30,000. BTC/USD Long-term Trend: Bearish (Daily Chart) Key levels: Resistance Levels: $37,000, $39,000, $41,000 Support Levels: $23,000, $21,000, $19,000 BTCUSD – Daily Chart Buy Bitcoin Now BTC/USD falls below $30,000 as the largest cryptocurrency failed …
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Luna Foundation Guard CEO, Do Kwon, has written a proposal that suggests forking LUNA to a new chain using a snapshot from before the attack. He details a recovery plan that includes giving the new blockchain to the community and not including the LFG wallet. The proposal The new chain would have a cap of …
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U.S. Prosecutors have filed a sentencing recommendation in the case against BitMEX co-founder Arthur Hayes seeking minimum one-year imprisonment. The prosecutors submitted the sentence recommendation to U.S. District Judge John Koeltl in Manhattan on May 12. This suggestion comes after Hayes pled guilty to violating the U.S. bank secrecy law. His sentencing is set for …
During a Twitter Spaces conversation on May 12, Bitfinex CTO Paolo Ardoino dismissed reports that Tether was in trouble. In the early hours of May 12, USDT had shown signs of de-pegging, as its price dipped as low as $0.9410. Source: USDT/USD on TradingView.com With markets still reeling from Terra UST losing its $1 peg, …
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El Salvador’s Bitcoin (BTC) investment is performing poorly, with the value of the more than 2,000 units it holds falling by about $40 million. The decline in value results from Bitcoin falling to its lowest price in more than a year due to the current market realities. El Salvador’s Bitcoin holdings in red El Salvador …
Continue reading “El Salvador’s over $100 million Bitcoin purchase is now worth $66 million”
Binance said it will relist LUNA/BUSD and UST/BUSD have been re-listed after being taken down early May 13. Following a historic week in crypto where UST de-pegged to 11 cents and LUNA lost 99.999% of its value, the world’s largest exchange has reactivated trading in the BUSD pairs. Binance will resume spot trading for the …
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Sam Bankman-Fried, the founder of FTX and Alameda Research, has acquired a 7.6% stake in Robinhood. SBF’s acquisition triggered an aggressive market response, with Robinhood’s shares jumping as much as 36% in extended trading. And while prices have pulled back since Thursday evening, they’re still up around 25%. Struggling Robinhood stocks see surge after SBF’s …
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A push to prohibit the energy-intensive proof-of-work mining of cryptocurrencies in Norway has been rejected by the majority of lawmakers. The ban had been suggested by the far-left Red Party which also didn’t win backing to raise an electricity tax for crypto miners. Norway Will Not Ban Bitcoin Mining The parliament of Norway has considered …
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According to statistics on Friday, May 13, the top stablecoins by market capitalization are currently worth $163.7 billion after the stablecoin economy was valued at close to $200 billion just last week. Of course, the climactic terrausd (UST) failure wiped out billions from the stablecoin economy, and Binance’s stablecoin BUSD has recently entered the top …
On Friday, the value locked in decentralized finance (defi) protocols dropped to a low of $110.35 billion after there was more than $200 billion total value locked (TVL) eight days ago on May 5. One specific defi protocol called Lido, a liquid staking platform and the second largest defi application in terms of TVL size …
Continue reading “Lido Deploys Additional Curve Pool to Improve Liquidity Around Bonded ETH Peg”
