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Russia Mulls Crypto for Int'l Payments, Fed Vice Chair Sees Place for Digital Dollar, NFT Game Blocks Users in China + More News
27.5.2022
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
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____(Updated on May 28 at 04:30 UTC for space and clarity, also it was clarified that JPMorgan joined Elliptic's financing...
Terra’s New Chain Launch Pushed to Saturday, NFT Projects Get an Invite to Move to Polygon
27.5.2022
The launch of the new Terra (LUNA) blockchain has been pushed back one day and is now expected to go live this Saturday. The launch is readying as the Terra community voted to burn a portion of the old terraUSD (UST) supply, while some projects are migrating to other blockchains....
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Police Reportedly Looking into Allegations that a Terraform Staffer ‘Embezzled’ Funds
27.5.2022
South Korean police could reportedly take over from the “Yeouido Grim Reaper” financial crimes investigation unit in the probe of Terraform Labs after “embezzlement” charges were leveled at an unnamed employee....
Read More: Police Reportedly Looking into Allegations that a Terraform Staffer...
Terra Moves Closer to New Chain Launch, Secures Exchange Support
26.5.2022
The Terra (LUNA) blockchain is moving closer to being re-born as Terra 2.0, this time without an algorithmic stablecoin. The project has already received the blessing of several exchanges, but questions about what the value of Terra is without a stablecoin have started to emerge....
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Gaming Guild’s DAO Proposal to Refund Seed Investment Faces Backlash, Contract Breach Accusations
26.5.2022
After a USD 175,000 seed investment by crypto gaming guild Yield Guild Games (YGG) into the competing guild Merit Circle last year, the latter guild’s community members are now proposing to refund the investment, complaining about a “lack of value” received from the investors. According to...
Bitcoin Trends Lower, Ethereum and Altcoins Take Hit
26.5.2022
Bitcoin price declined and settled below USD 30,000. BTC traded below USD 29,200 and is currently (11:45 UTC) showing bearish signs near USD 29,100. BTC is down 1% in a day and is still up more than 1% in a week.
Besides, most major altcoins are gaining bearish momentum. ETH declined below...
LUNA, UST Jump as Terra Revival Plan Moves Ahead After Vote
25.5.2022
The price of the Terra network’s native LUNA token and the failed stablecoin terraUSD (UST) jumped in the market on Wednesday, after a revival plan for the network officially passed a vote, with 65% voting in favor of the plan. A new Terra blockchain is now expected to launch this Friday,...
Upbit Operator Faces Scrutiny Over Affiliate’s 2020 USD 103M LUNA Sale
25.5.2022
South Korean crypto exchanges are now in the firing line as the terra (LUNA) crash fallout continues to sow the seeds of chaos in the domestic crypto industry.
Dunamu, the operator of the Upbit exchange, has denied reports that it dumped large sums of LUNA to avoid forthcoming price drops...
More Crypto Regulation Incoming in South Korea Following Terra Collapse, Gov’t Indicates
24.5.2022
More regulatory scrutiny could be incoming for the crypto sector in South Korea in the wake of the terra (LUNA) and terraUSD (UST) crash – with exchanges set to come under the same kind of scrutiny as Terraform Labs and its Founder and CEO Do Kwon....
Read More: More Crypto Regulation Incoming...
Tether is Fully Backed, Always Redeemable for USD 1 , Co-Founder Says
24.5.2022
“I strongly believe that [tether] is fully backed, and you will never have any issues redeeming it,” Tether co-founder and BLOCKv CEO Reeve Collins has said.
Speaking in an interview with CNBC on Monday, Collins said that the popular stablecoin tether (USDT) is “still backed 1:1” by reserves...
Bitcoin and Ethereum Hold Key Support Levels, TRX Accelerates
24.5.2022
Bitcoin price started another decline from the USD 30,500 resistance zone and dropped below the USD 29,500 support level. However, it is currently (11:45 UTC) consolidating near USD 29,300 and still holds the key USD 28,500 support level. BTC is down almost 4% in a day and 2% in a week....
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Digital Dollar Would Undermine Banks, No Compelling Case for It, US Bankers Argue
24.5.2022
The purported benefits of a central bank digital currency (CBDC) in the United States are “uncertain and unlikely to be realized,” and there is no compelling case for it, the American Bankers Association (ABA) has said in a letter to the US Federal Reserve (Fed). The letter also warned that...
Terra 'Revival Plan 2' Set to Pass, But There is Still Confusion within Community
24.5.2022
The Terra (LUNA) ecosystem "Revival Plan 2," the latest revival plan proposed by the Terraform Labs founder and CEO Do Kwon that was put to vote last week, is nearing its deadline and is set to be confirmed.
By Tuesday morning (UTC time), 66.33% of participants have voted in the support of...
Crypto Listing and Delisting Announcements: Week 21
23.5.2022
Here is our weekly collection of digital asset listing and delisting, trading pair-related announcements by crypto exchanges that we found last week and today.
Have we missed something? Do you have information about new listings and/or delistings? Let us know here....
Binance CEO Shares Lessons Learned From Terra Fall, Says He is 'Pleased by the Crypto Industry Resilience'
23.5.2022
Addressing the historic fall of the Terra (LUNA) ecosystem, major crypto exchange Binance CEO Changpeng Zhao (CZ) said that he is "pleased by the resilience the crypto industry has shown." However, he also shared some lessons that the industry should learn from the Terra fallout.
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LUNA Jumps as 273M Tokens Burned Despite Do Kwon Opposing the Idea
23.5.2022
Terra (LUNA) holders have sent over LUNA 273m to the burn address provided by the Terraform Labs founder and CEO Do Kwon in a bid to reduce the token supply - an idea that Do Kwon is not in support of....
Read More: LUNA Jumps as 273M Tokens Burned Despite Do Kwon Opposing the Idea
Bitcoin and Ethereum Consolidate, SAND and AAVE Accelerate
20.5.2022
Bitcoin price remained well supported above the USD 30,000 level and even tested USD 30,500. It is currently (13:50 UTC) trading near USD 30,300.
Similarly, most major altcoins are also consolidating their gains. ETH tested USD 2,050, while XRP is stuck near USD 0.42. ADA is still facing...
Terra Adds an Amendment to Do Kwon’s Revival Plan, Survey Reveals UST Losses
20.5.2022
The team behind the Terra (LUNA) blockchain has added three revisions to the already published “revival plan” by co-founder Do Kwon – increasing genesis liquidity and decreasing distribution to certain terraUSD (UST) holders.
Following the infamous UST stablecoin depeg and a wave of subsequent...
South Korean Government, Prosecution Turn up the Heat on Do Kwon and Terraform
20.5.2022
South Korean lawmakers and financial regulators are taking aim at Do Kwon (full name Kwon Do-hyeong) and his firm Terraform Labs.
Following the news that three or more separate civil legal cases – each potentially involving hundred of South Korean terra (LUNA) investors – have already been...
Bitcoin Tests USD 30K, Ethereum at USD 2K, Altcoins Move Higher
19.5.2022
Bitcoin has held the key support level at USD 29,000 throughout the day, with more gains now likely as the coin tests resistance at the USD 30,000 level. As of 15:44 UTC, the number one cryptocurrency traded at USD 30,330, up almost 5% for the past 24 hours and 5% for the past 7 days.
At...