The Luna Foundation Guard (LFG) has raised $1 billion in a private token sale to allow the group to safeguard the peg of UST, Terra’s flagship stablecoin, against market instabilities. While the token has an algorithmic method to maintain its dollar value, this decentralized reserve — which will be stored in BTC — aims to allow the foundation to intervene…
A European subsidiary of United States-based crypto trading platform Uphold has received approval from the United Kingdom’s Financial Conduct Authority (FCA). According to the FCA website, Uphold’s U.K. subsidiary Uphold Europe Limited gained regulatory approval on Feb. 17, 2022, joining the select list of 32 firms that have received FCA approval as a Registered Crypto Asset service provider, out of…
Major nonfungible token (NFT) marketplace OpenSea announced a service upgrade on Saturday, which requested that users migrate their listed assets from the Ethereum (ETH) blockchain to a newly created smart contract. However, in the hours that followed, 32 users of the platform became victims of a targeted email phishing attack which resulted in an anonymous entity stealing $1.7 million worth of…
On Wednesday, Warner Music Group announced it had entered into a partnership with fantasy-themed collectible card game developer Splinterlands. The two companies will collaborate and enable opportunities for WMG artists to create and develop play-to-earn, arcade-style blockchain games. Last month, WMG made its first entry into the nonfungible token, or NFT, metaverse realm in a partnership with The Sandbox with the…
Phantom Wallet, the Solana-focused wallet, announced that it’s joining forces with 1Password, a popular password management platform, to make accessing the crypto wallet a bit simpler. Per an announcement shared with Decrypt, 1Password will specifically integrate its “Save in 1Password” API with Phantom. The integration means that instead of having to manage lengthy login credentials made up of strings of…
USD Coin (USDC) operator Circle has launched a new account service aimed at helping businesses transact in cryptocurrencies — potentially opening the door to wider mainstream adoption of digital assets. The new business-centric Circle Account allows enterprise clients to deposit, withdraw, receive and store cryptocurrencies and have all payments settled in the USDC stablecoin, the company announced Wednesday. Circle’s new…
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Terra (LUNA) has fared better than its top crypto rivals when it comes to withstanding the negative market impacts of the ongoing Ukraine-Russia conflict. LUNA’s price rallied nearly 18% this week to over $58, more than Bitcoin (BTC), whose returns in the same period came out to be a little over 1.5%. Similarly, the Terra token did better than its…
Just as it started to look like the crypto market was staging a comeback and bracing for a new bull run, geopolitical tensions stepped in to drive the price of Bitcoin (BTC) below $40,000 again, with most altcoins seeing deep red as well. Such periods of market uncertainty, however, are not unprecedented, and digital assets’ individual history already holds information…
The U.S. Secret Service has announced the launch of a cryptocurrency awareness hub, an online educational platform developed to aid the agency in its efforts to combat the illicit use of virtual assets. In an announcement released last Friday, the U.S. Secret Service said that the new initiative seeks “to provide public awareness information on digital asset security,” as the…
