LUNA was down by over 50% in today’s session as markets continued to react to UST losing its parity with USD. As such traders lost faith in the stablecoin founded by Do Kwon, which dropped to its lowest point since September. Whilst LUNA stole the headlines, XMR and AXS also saw recent losses extended. Terra (LUNA) LUNA fell by over…
Treasury Secretary Janet Yellen today said that stablecoins need to be regulated by this year. In a hearing Tuesday, Secretary Yellen said that although digital assets may “promote innovation,” they could also “present risks to the financial system.” The Treasury Secretary used the example of Terra, a blockchain which has a native stablecoin, UST. Yesterday, the stablecoin slipped below its…
Casa has launched a new API that will enable third-party firms to interact with Casa wallets while users maintain full control of their private keys.The company also announced it had raised $21 million in a series A funding round to help it further develop its security-focused Bitcoin products and services.Casa raised $4 million in seed funding in February. Bitcoin company…
“The Market Report” with Cointelegraph is live right now. On this week’s show, Cointelegraph’s resident experts discuss the social tokens you should be keeping a close eye on. But first, market expert Marcel Pechman carefully examines the Bitcoin (BTC) and Ether (ETH) markets. Are the current market conditions bullish or bearish? What is the outlook for the next few months?…
United States Secretary of the Treasury Janet Yellen called on U.S. lawmakers to develop a “consistent federal framework” on stablecoins to address risks to financial stability. In a Tuesday hearing of the Senate Banking Committee on the Financial Stability Oversight Council Annual Report to Congress, Yellen reiterated her previous position calling for a regulatory framework on stablecoins, citing a November…
MicroStrategy CEO Michael Saylor implied the company will not sell its bitcoin.The firm has 115,109 BTC available to pledge as collateral for its bitcoin-backed loan and could put some other collateral available if needed, he added.MicroStrategy took out the loan to purchase more bitcoin last month. MicroStrategy CEO Michael Saylor took to Twitter on Tuesday morning to alleviate fears that…
Bitcoin Cash is preparing to include two significant improvements in its upcoming upgrade. Programmed to happen on May 15, the Bitcoin Cash Improvement Proposals (CHIPs) approved to be included are CHIP-2021-03, which brings bigger script integers to the chain, and CHIP-2021-02, which has to do with the activation of native introspection opcodes, directed to simplify the writing of smart contracts…
Townsquare Media purchased an aggregate of $5 million worth of bitcoin in a recent SEC filing. The company notes that its Q1 2022 purchase could have realized a $1.2 million profit had the company sold. Townsquare stated it believes in the “long-term potential” of bitcoin. Townsquare Media (NYSE:TSQ), a digital media and marketing solution, submitted a Securities and Exchange Commission…
The United Kingdom has introduced two bills both concerning the seizure and support for cryptocurrencies as part of Prince Charles’ remarks at the State Opening of Parliament. In a Tuesday publication released by the U.K. Prime Minister’s Office, the government said it will address crypto regulation in the country with the introduction of the Financial Services and Markets Bill and…
El Salvador President Nayib Bukele released models showcasing Bitcoin City. The models include a volcano overlook, featuring a bitcoin centerpiece within the city.The previously announced Bitcoin Bonds are meant to fund the infrastructure for the city. President of El Salvador Nayib Bukele released a model of Bitcoin City after announcing the bitcoin nation-state had bought the dip. The first pictures…
