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China Backed Publication: Terra LUNA Crash Vindicates Country’s Ban on Crypto-Related Activities
16.5.2022
An op-ed article published in the state-backed Chinese publication Economic Daily, has suggested that the recent crash of the Terra blockchain’s LUNA and the de-pegging of the UST stablecoin vindicate the Asian country’s decision to ban crypto-related activities. In the article,...
CZ Says Binance Supports Proposal to Compensate LUNA Retail Users First
16.5.2022
Binance’s Changpeng Zhao (CZ) has said the exchange supports the proposal to compensate retail LUNA users ahead of larger investors. He also said the LUNA tokens received by Binance in exchange for a $3 million investment in Terra have not been sold or moved. Binance’s LUNA Tokens...
Another Crypto Tax Haven in Danger, Goldman's & Nomura's Moves, DEI Depegs, NFTs on Spotify + More News
16.5.2022
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.______...
Read More: Another Crypto Tax Haven in Danger, Goldman's & Nomura's Moves, DEI Depegs, NFTs on Spotify + More News
Circle Says USDC Reserve Backed Entirely in Cash and Short-Dated US Treasuries
16.5.2022
On May 13, Circle’s chief financial officer Jeremy Fox-Geen published a blog post called “How to Be Stable,” following the aftermath of Terra’s stablecoin implosion. Circle’s CFO explained that since usd coin’s inception, the stablecoin aims to...
Deus Finance’s dollar-pegged stablecoin DEI falls below 60 cents
16.5.2022
Following the fall of TerraUSD, DEI, the algorithmic stablecoin by DEUS Finance, takes a nosedive below 60 cents
CBDC activity heats up, but few projects move beyond pilot stage
16.5.2022
Does government-issued digital money pose an existential threat to cryptocurrencies? Probably not, but stablecoin usage could narrow
Terra's Do Kwon Liquidated the South Korean Arm of Terraform Before LUNA & UST Crisis
16.5.2022
New reports fuelled speculations that Do Kwon (real name Kwon Do-hyeong) may have been aware of a storm brewing for the terra (LUNA) platform – and that the Terraform Labs mastermind may have taken action to dissolve domestic parts of his company as early as last month in anticipation....
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Fantom Stablecoin DEI Becomes Latest to Lose Dollar Peg
16.5.2022
DEI lost as much as 46 cents in European hours this morning. It follows a trend of several algorithmic stablecoins losing their pegs
Luna Foundation Says Nearly Entire Bitcoin Stack Spent, Promises Compensation to UST Users
16.5.2022
The Luna Foundation Guard (LFG), the entity whose task was to maintain the stability of the terraUSD (UST) peg, said it spent nearly all of its bitcoin (BTC) held in reserves to defend UST’s dollar peg as it collapsed. But from what is left, users of the failed stablecoin will be compensated...
80,000 Bitcoin gone: What’s left in Luna’s reserve wallet?
16.5.2022
The Luna Foundation Guard updates the world concerning its crypto-asset reserves and shares a promise to compensate the remaining users of failed stablecoin UST
First 7-week losing streak in history ― 5 things to know in Bitcoin this week
16.5.2022
Doom and gloom and an overall sense of unease pervades the market ahead of the World Economic Forum
Vitalik Buterin & Binance CEO Chime In as Do Kwon Proposes Another Terra 'Revival' Plan
16.5.2022
Big players in the crypto industry do not seem supportive of the latest Do Kwon's proposal of how to help the collapsed Terra (LUNA) ecosystem.
Last Friday, Terraform Labs co-founder Do Kwon put forward a 'revival plan' suggesting that the network hard fork and reset ownership to 1 billion...
UK Treasury en route to legalizing stablecoins amid Terra's UST crash
16.5.2022
During the Queen's Speech, Prince Charles announced the introduction of a bill that would help tackle illicit finance, reduce economic crime and help businesses grow
UK Affirms Commitment to Regulate Stablecoins Following Terra Meltdown
16.5.2022
The British Treasury Department has affirmed its commitment to regulate stablecoins after the collapse of terrausd (UST) and terra (LUNA). “This will create the conditions for issuers and service providers to operate and grow in the U.K., whilst ensuring financial stability and high...
Tron DAO Reserve Acquires Millions in TRX, Bitcoin, and Tether to Safeguard USDD
16.5.2022
Seven days ago, Bitcoin.com News reported on the Tron DAO Reserve purchasing $38 million in tron to safeguard the network’s stablecoin USDD. Since then and since the terrausd (UST) de-pegging event, the Tron DAO Reserve has continued to purchase large quantities of digital assets to bolster...
$1.9T wipeout in crypto risks spilling over to stocks, bonds — stablecoin Tether in focus
15.5.2022
The dangers posed by stablecoins to the traditional market cannot be dismissed due to Tether's exposure to the U.S. credit system
SEC Commissioner Expects Tighter Stablecoin Regulation — Yellen Says Stablecoins Not Real Threat to Financial Stability
15.5.2022
A commissioner with the U.S. Securities and Exchange Commission (SEC) expects to see stricter regulation on stablecoins. However, Treasury Secretary Janet Yellen says stablecoins are currently “not a real threat” to the country’s financial stability. SEC Commissioner...
Justin Sun Talks USDD Stablecoin in Wake of LUNA/UST Unravel
14.5.2022
The controversial crypto entrepreneur explains how an algorithmic stablecoin can still succeed while denying rumors he was behind the de-pegging of Terra’s failed UST
Stablecoin Shuffle — Terra Fiasco Shakes up Fiat-Pegged Crypto Economy, Over $35 Billion Disappears
13.5.2022
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...
‘Stable in Name Only’: Stablecoin Issuers Speak Out as UST Craters
13.5.2022
Asset-backed projects want regulators to know: Not all stablecoins are created equal