Changpeng Zhao, CEO of Binance, the world’s largest cryptocurrency exchange expressed his disappointment in the way Terraform Labs handled the recent LUNA and UST collapse. Zhao said that the team behind the Terra network hardly responded to Binance’s request to help them restore the network. “We requested their team to restore the network, burn the extra minted LUNA, and recover…
Hong Kong police have arrested a man accused of stealing $191,085 from a cryptocurrency trader in what turned out to be a bogus transaction. No funds were recovered at the time of the suspect’s arrest and investigations are ongoing to determine if the man had accomplices. No Funds Recovered Hong Kong police recently arrested a 24-year-old conman accused of vanishing…
Bitcoin (BTC) descending to $24,000 has cost its largest institutional investment vehicle more than the average hodler. According to data from on-chain monitoring resource Coinglass on May 13, the Grayscale Bitcoin Trust (GBTC) is now trading at a nearly 31% discount. Grayscale CEO: Investors are “waiting for things to settle down” Amid ongoing market volatility this week, GBTC has seen…
Shares of the Grayscale Bitcoin Trust (GBTC) hit record lows against its net asset value (NAV), trading at a 30.79% discount, data from YCharts shows. GBTC is a private-placement trust that trades like a stock and allows investors to get exposure to Bitcoin without actually having to buy the asset. The firm takes care of the custody in exchange for…
There’s Nor-way they can ban Bitcoin (BTC) mining in Norway now. That’s according to a majority vote passed by the Norwegian parliament on May 10. The proposal to ban Bitcoin mining in Norway was first suggested in March this year by the Red Party (Norway’s communist party.) In this week’s vote, the proposal was overturned as only Norway’s left-leaning parties,…
Emirates, the largest airline in the United Arab Emirates (UAE), announced that it has plans to implement Bitcoin (BTC) payments and launch nonfungible tokens (NFTs) to be traded through the company’s websites. In a media gathering held at the Arabian Travel Market, the chief operating officer of Emirates, Adel Ahmed Al-Redha reportedly stated that the Dubai-based airline will be onboarding…
GAM Investments has quashed fake news reports that surfaced on Friday that claimed the Swiss asset manager would invest some $3 billion to aid in the recovery of the Terra ecosystem, including LUNA and TrueUSD (UST) stablecoin. An announcement published on May 12 claimed that the firm was engaging in talks with Terraform Labs to assist in recovery attempts after…
The European Central Bank (ECB) is planning to launch a prototype of the digital euro in 2023. In the next five years, Europe could have its own central bank digital currency (CBDC) up and running. However, there are still many questions surrounding the prospective digital currency. In what form could it be issued? Is the ECB too late to the…
Pablo Hernández de Cos, governor of the Bank of Spain and chair of the Basel Committee on Banking Supervision, explained that the cryptocurrency space and decentralized finance (defi) need to be regulated swiftly to avoid risks of financial instability. Hernandez de Cos also mentioned how this swift approach should bring the crypto financial system into the scope of regulation before…
The recent crashes in stock and cryptocurrency markets have provided yet another chance to observe better return opportunities of crypto versus stocks, according to several industry executives. This week, the crypto market saw one of its biggest sell-offs ever, with the total market capitalization plummeting more than 30% from $1.8 trillion on May 4 to as low as $1.2 trillion…
