Summary: Terra’s UST has depegged from the one dollar mark after massive selling of the stablecoin on Curve Finance and Binance The selling was to the tune of $285 million in UST and resulted in a $2.25 billion outflow of the stablecoin from the Anchor Protocol UST has since stabilized to the $0.996 price level …
Tag archives: Ethereum
2020’s Pickle Finance Hackers Launder 1,800 Ethereum Through Tornado Cash
Quick take: The 2020 hackers of Pickle Finance have laundered 1,800 Ethereum through Tornado Cash Roughly $20 million in the stablecoin of DAI was stolen from the protocol at the time of the exploit Tornado Cash continues to be the preferred mixer for these individuals and groups of hackers The perpetrators of the 2020 exploit …
Continue reading “2020’s Pickle Finance Hackers Launder 1,800 Ethereum Through Tornado Cash”
Instagram To Soon Support NFTs on Ethereum, Polygon, Solana and Flow
Summary: Meta’s Instagram will soon support NFTs on Ethereum, Polygon, Solana, and Flow Users of Instagram will not be charged to exhibit their NFTs on the platform A pilot program for NFTs on Instagram will be launched in the United States possibly by Monday Instagram will also support popular crypto wallets such as Metamask Instagram, …
Continue reading “Instagram To Soon Support NFTs on Ethereum, Polygon, Solana and Flow”
Bitcoin Could Find a Floor at $28k – BTC Analyst
Summary: Bitcoin could find a floor at $28k based on its correlation to the S&P 500 $28k also happens to be close to Bitcoin’s current Metcalfe value of $29k Bitmex’s Arthur Hayes had previously warned of a drop to $30k by the end of June Short-term sellers have dominated Bitcoin’s decline in the last few …
Continue reading “Bitcoin Could Find a Floor at $28k – BTC Analyst”
Tron DAO Buys $39M Worth of TRX as Reserves for its USDD Stablecoin Whose Circulating Supply Has Exceeded $200M
Quick take: Tron DAO has purchased 504,600,250 TRX at $38.993 million as part of its reserves for the USDD stablecoin The circulating supply of the USDD stablecoin has doubled in less than 48 hours to exceed $200 million The USDD stablecoin has thus far secured three partnerships: Alameda Research, Amber Group, and Poloniex TRX’s value …
Terra Drops 9.6% in 24-hours Despite the Luna Foundation Buying $1.5B Worth of Bitcoin
Summary: The digital asset of Terra (LUNA) has dropped by almost 10% in the last 24 hours This is despite the bullish news of the Luna Foundation Guard buying $1.5 billion worth of Bitcoin However, the drop is understandable given Bitcoin has lost its $38k amidst anxiety over the US Fed increasing interest rates by …
Luna Foundation Acquires An Additional 37.8k Bitcoin Worth $1.5B, Bringing its Total Holdings to 80,394 BTC
Summary: The Luna Foundation Guard has bought an additional 37,863 Bitcoin worth $1.5 billion The purchase is in line with Do Kwon’s goal of backing UST with digital asset reserves worth $10 billion The Luna Foundation Guard now holds 80,394 BTC The Luna Foundation Guard has acquired an additional 37,863 Bitcoin worth $1.5 billion to …
Bitmex’s Arthur Hayes Requests Leniency, No Jail Time for Violating the US Bank Secrecy Act
Quick take: Bitmex’s founder and former CEO, Arthur Hayes, has requested leniency from the judge handling his court case Mr. Hayes is requesting no jail time and permission to live abroad and travel freely His lawyers have also asked for probation with no home detention or community confinement Arthur Hayes had struck a plea deal …
Lido Finance with $19.1B in TVL, Edges out Curve as the Largest DeFi Protocol
Summary: Lido Finance has surpassed Curve finance to become the largest DeFi protocol in terms of total value locked Approximately $19.1 billion is locked on Lido Finance compared to Curve’s $19 billion Lido Finance is available on the blockchain networks of Ethereum, Solana, Terra, Kusama, and Polygon. Earlier today, Lido Finance became the largest DeFi …
Continue reading “Lido Finance with $19.1B in TVL, Edges out Curve as the Largest DeFi Protocol”
Michael Saylor: New York’s Proposed Bitcoin Law is Damaging to the Environment, Reputation and Economy of the State
Quick summary: Microstrategy CEO, Michael Saylor, has said that the proposed Bitcoin and crypto regulation based on energy use in New York is damaging to the environment, reputation, and economy of the state Mr. Saylor sees the proposed bill as a demonstration of how the law can be manipulated maliciously He has also requested his …
Starbucks to Venture into Web3 by Launching NFTs Later this Year
Quick take: Starbucks plans to build its own NFT collection, building a community on an environmentally sustainable Web3 platform The company will start by launching its first NFT collection based on coffee art and storytelling later this year Starbucks is potentially looking for a new CEO who understands the potential of NFTs and Web3 Starbucks, …
Continue reading “Starbucks to Venture into Web3 by Launching NFTs Later this Year”
Microstrategy Could Get a Margin Call if Bitcoin Drops to $21k, But the Company is Prepared
Summary: Michael Saylor’s Microstrategy could face a margin call on its debt if Bitcoin drops below $21k However, the company is prepared to add funding to their existing position Microstrategy recently secured a loan of $205 million in late March, payable monthly beginning this month till March 2025 Microstrategy now holds 129,218 Bitcoins with a …
Ethereum Founder Vitalik Buterin Says ETH Gas Fees Should Cost Less Than $0.05
The OG blockchain founder said gas fees lower than $0.05 should be the goal ETH transactions have been notoriously high since the boom of DeFi projects The emergence of the NFT industry has also supposedly added to demand on ETH’s network Crypto proponents surmised that the coming upgrade to a Proof-of-Stake consensus could mitigate high …
Continue reading “Ethereum Founder Vitalik Buterin Says ETH Gas Fees Should Cost Less Than $0.05”
SEC Willing To Approve a Spot Bitcoin ETF if Adequate Surveillance Measures Are in Place
The United States Securities and Exchange Commission seems willing to approve a spot ETF if adequate surveillance measures are in place. A footnote in a recent letter said as much, saying that it would overcome concerns about investor protection. The SEC is stubborn in its demands for investor protection and wants more supervision of the …
Elon Musk Unveils BAYC Avatar Mashup On Twitter and ApeCoin Surges Over 15% Right After
Elon Musk changed his Twitter Avi to an NFT collage featuring Bored Apes The centerpiece of the collage shows a rare golden BAYC piece Musk allegedly acquired a similar Ape back in February 2022 according to Chain CEO Deepak Thapliyal Deepak hinted that Musk bought the NFT through MoonPay Following the move, ApeCoin pumped over …