On Thursday, Terraform Labs, the team behind the Terra ecosystem, outlined three emergency measures aimed at saving LUNA and its native stablecoin UST from collapse. The three measures include burning the remaining UST in the community pool, burning any UST that still exists on Ethereum, and staking $240 million LUNA to protect the project from a governance attack. With a…
The queen of pop has collaborated with record-setting artist Beeple to create a series called “Mother of Creation” which includes three nonfungible tokens (NFTs) titled Mother of Technology, Mother of Nature and Mother of Evolution. The NFTs show a 3D likeness of Madonna giving birth to robot centipedes, butterflies and trees. As the markets went crazy over stablecoins showing instability,…
gm Podcast, Episode 9: Jesse Powell Releases the Kraken Kraken was one of the earliest Bitcoin exchanges, and also made waves for its strong-willed reactions to regulatory changes. CEO Jesse Powell joined the gm podcast to talk to Dan Roberts and Jeff Roberts about Kraken’s evolution, the killer use case for NFTs, and how San Francisco’s tech scene has changed.…
In brief Sorare, the maker of an NFT fantasy soccer game, will launch a Major League Baseball fantasy game this summer. The firm has partnered with both MLB and the MLB Players Association. Sorare built its Ethereum NFT-based fantasy soccer platform into one of the most popular blockchain-based games on the market—and a startup valuation of $4.3 billion. Now the…
While illicit activity has fallen in the broader cryptocurrency community, it’s been rising sharply in decentralized finance (DeFi) protocols. Of the $1.7 billion worth of cryptocurrency stolen in 2022, 97% of it has come from DeFi protocols, according to a new report from blockchain analytics firm Chainalysis. That stat has largely been driven by two huge attacks earlier this year:…
ApeCoin (APE) has undergone a sharp recovery after falling to its lowest level in two months. But its strong correlation with Bitcoin (BTC) and U.S. equities amid macro risks suggests more losses could be in store. APE rebounds after 80% losses in two weeks APE rebounded by nearly 45% to $7.30 on May 12. The upside retracement move came after…
Jeremy Spence, a 25-year-old Rhode Island crypto trader, also known as “Coin Signals” on social media channels, has been sentenced to 42 months in prison for defrauding 170 people for more than $5.37 million. According to a Department of Justice (DoJ) press release, Spence operated several crypto investment funds between November 2017 and April 2019, including the Coin Signals Bitmex…
Tanzania is getting closer to launching a central bank digital currency (CBDC) which gives the country’s residents a “safe alternative,” the central bank governor has said. However, no date for the digital currency launch has been given. Growing Interest in Cryptocurrencies According to Florens Luoga, the governor of Tanzania’s central bank, his country is inching closer to the launch of…
Despite the growing adoption of various cryptocurrency exchange-traded funds (ETFs) all over the world, the global trading community continues to ask one question: When will a spot Bitcoin (BTC) ETF go live in the United States? According to some ETF analysts, a spot Bitcoin ETF could become real in mid-2023, following years of rejection by the U.S. Securities and Exchange…
Following recent developments in the sphere of stablecoins, Tether (USDT) has announced that it’s coordinating a chain swap to transfer USDT assets from Tron’s TRC20 to Ethereum and Avalanche’s blockchain. In a Tweet, Tether said that 1 billion USDT will be moved from Tron’s blockchain to Ethereum. On the other hand, an additional 20 million USDT will be converted to…
