According to local news outlet Shanghai Securities News, the city of Shenzhen will airdrop 30 million digital Chinese yuan (e-CNY) to local residents in an attempt to revitalize consumer spending. The airdrop is a joint effort between the city of Shenzhen and Meituan Dianping, China’s leading food delivery app. As per instructions, users would need to first login to the…
Welcome to DeFi D.I.Y., a new recurring feature where Decrypt’s DeFi whiz walks you through how to use a specific DeFi tool or platform. Today: staking Ethereum on Lido. Not everyone has the 32 ETH needed to stake directly onto the Beacon Chain, or Phase 0 of the network’s transition to Ethereum 2.0 and a proof-of-stake (PoS) consensus mechanism. To…
One of the world’s biggest cryptocurrency exchanges, Binance, strengthened its European presence by obtaining registration and regulatory approval in Italy. A Binance company had previously registered to operate in France at the beginning of May. On May 27, the exchange’s official blog reported that Binance Italy has received regulatory approval in the country through registration as a Cryptocurrency Service Provider…
South Korean prosecutors are reportedly looking into the recent Terra crash to see if there were signs of intentional price manipulation and other issues, the local television network JTBC reported on Saturday. Per the report, the Seoul Southern District Prosecutors’ Office’s joint financial and securities crime investigation team has also summoned former employees of Terraform Labs who were involved in…
Bitcoin (BTC) stayed higher on May 30 as early week gains saw BTC/USD retain $30,500. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView $32,000, $35,000 flagged as lines in the sand Data from Cointelegraph Markets Pro and TradingView showed the largest cryptocurrency consolidating near $30,600 at the time of writing after hitting highs of $30,900 on Bistamp. Its best performance since May…
About the author Colin Wu writes the Wu Blockchain newsletter (wublock.substack.com) about crypto in China. Follow him on Twitter @WuBlockchain and Telegram @colinwu1989. Editor’s note: The original version of this piece was published on Wu Blockchain. Terra and UST plummeted to zero seemingly in an instant, wiping out tens of billions of dollars in market cap, and a large number…
A survey conducted recently by the Center for Citizen Studies of the Francisco Gavidia University, a private institution in El Salvador, has found that more than half of the Salvadorans surveyed still prefer the dollar over bitcoin as legal tender. Bitcoin, which has been pushed by Salvadoran president Nayib Bukele, has in large part not been received positively by the…
Bitcoin (BTC) and the broader cryptocurrency market have provided very little comfort in recent weeks, as macroeconomic headwinds and the implosion of the Terra ecosystem continue to reverberate. But, if we look beyond the immediate price action, we observe an industry that continues to grow and evolve, as well as attract sizable capital investments from major funders. The latest edition…
Luxury brands like Gucci, Balmain, and Balenciaga are getting into all things crypto, and Prada is joining the crowd with the release of its own NFTs. Prada will be launching 100 Ethereum NFTs this Thursday to go along with its latest Timecapsule apparel release. NFTs are unique blockchain tokens that signify ownership of an asset. In Prada’s case, buyers will…
Mickey Koss is a West Point graduate with a degree in Economics. He 4 years in the Infantry before transitioning to the Finance Corps. In my first article, I compared Bitcoin to the U.S. Constitution and spoke to the characteristics of the asset that made it such a great fit for service members. On this Memorial Day, I would like…
