Binance warned Thursday that it would delist the LUNA/Tether trading pair if LUNA’s price fell below 0.005 Tether, or about half a penny. Shortly after Binance sent its tweet, Terra shut down its entire network and left the circulating supply of 34 billion LUNA in limbo, and then turned it back on about two hours later. LUNA is the native token…
The Federal Ministry of Finance (BaFin) published a 24-page document on May 10 outlining clear income tax rules for cryptocurrency and virtual assets. Tax practitioners, businesses and individual taxpayers now have clear direction on the tax requirements of acquiring, trading and selling cryptocurrencies. The key takeaway is that individuals that sell BTC or ETH after more than 12 months of…
At 12:14 p.m. (ET), the Twitter account operated by the Terra team announced that the Terra blockchain network had been halted. According to the Terra developers’ tweet, Terra validators needed to apply a patch to further disable delegations. Terra Blockchain Halts in Order to Prevent Governance Attacks, Team Says Restart Coming Soon At the time of writing, the Terra blockchain…
According to United States Treasury Secretary Janet Yellen, the stablecoin market is not at the scale at which the drop in the price of TerraUSD (UST) and Tether (USDT) below $1 would present a threat to the country’s financial stability. In a Thursday hearing of the House Financial Services Committee on the Financial Stability Oversight Council’s Annual Report to Congress,…
#DecryptLIVE: Crypto crash roundtable Crypto bloodbath! How low will the major coins go, and what about Terra and stablecoins? Decrypt’s Dan Roberts, Jeff Benson, Stacy Elliott and Jason Nelson will discuss the news and parse through what’s happened and what might happen next. Source: https://decrypt.co/videos/live-events/x3UtVnqo/decryptlive-crypto-crash-roundtable
XP, Brazil’s largest broker, plans to allow bitcoin and other cryptocurrency trading to its 3.5 million customers. Nasdaq partnered with XP to create the XTAGE trading platform, which is expected to release this June. BitGo will be XP’s custodial partner, keeping most of the bitcoin and other assets in cold storage for security. XP, Brazil’s largest broker according to market…
Despite the majority of tokens trading in red on Thursday, AXS was up by over 20% in today’s session. While LUNA dropped below $0.01 earlier today, MATIC was another notable crypto to fall, dropping to its lowest point since last April. Axie Infinity (AXS) AXS was one of the biggest gainers in crypto markets on Thursday, as prices rallied following…
Investors were surprised by Bitcoin (BTC) price falling to $25,500 on May 12, and this shock extended to options traders. The strong correction was not restricted to cryptocurrencies and some large cap stocks faced a 25% or heavier weekly losses in the same period. Growing economic uncertainty impacted S&P 500 index members like Illumina (ILMN) which declined by 27% over…
In brief Terra validators opted to halt the blockchain network after this week’s collapse of both UST and LUNA. Validators plan to restart the network after applying a patch to avoid potential attacks. After Terra’s UST stablecoin lost its U.S. dollar peg earlier this week, the firm’s LUNA cryptocurrency went into free fall. And today, after shedding nearly 100% of…
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, says cryptocurrency exchanges are “trading against their customers often because they’re market-marking against their customers.” He has raised concerns over crypto trading platforms “commingling” services. SEC Chair Gensler on Crypto Exchanges Trading Against Customers SEC Chairman Gary Gensler said in an interview with Bloomberg News Tuesday that some…
