As crypto markets continue to slide in value, concerns about the algorithmic stablecoin terrausd (UST) losing its $1 parity have swelled in recent times. Two days ago on May 7, 2022, UST dipped down to $0.985 per unit against tether (USDT), and the stablecoin’s price drop invoked a great deal of speculation concerning UST losing its dollar peg. Following the…
Last week, 55,000 parcels of “virtual land” were sold on the Ethereum blockchain for more than $300 million, the largest nonfungible token (NFT) mint ever. It wasn’t without controversy. In return for shelling out close to $6,000, a purchaser received an Otherdeed NFT, which authenticates that buyer’s ownership of a patch of digital real estate in developer Yuga Labs’ new…
In brief Instagram will let NFT collectors and creators display verified NFT collectibles starting this week. Facebook will also support displaying verified NFT collectibles “soon,” per Meta. Following CEO and co-founder Mark Zuckerberg’s tease in March, Meta announced today that it will begin rolling out support for NFTs on the popular photo-sharing app Instagram this week. And support on Facebook…
The first real-estate transaction using bitcoin in Louisville, Kentucky was recently completed. The purchase took about eight seconds and cost $0.70 in transaction fees.The owner and president of Millennial Title Company believes bitcoin will be used in real estate transactions more often in the near future. Louisville, Kentucky made local history with its first real estate purchase made in bitcoin…
Mark Zuckerberg, CEO of Facebook’s parent company Meta, said that the company is starting to test digital collectibles on photo and video sharing platform Instagram this week, signaling a move toward adding nonfungible tokens, or NFTs. In an interview with Impact Theory’s Tom Bilyeu published to Facebook on Monday, Zuckerberg said the move to test digital collectibles on Instagram was…
SBI Motor Japan, subsidiary of SBI Holdings, is accepting bitcoin and another cryptocurrency for its cross-border e-commerce site for used cars. SBI stated this feature will offer accessibility to a wide range of unbanked users who currently are excluded from the world economy. SBI Holdings contains a wide range of companies within the parent group and plans to extend the…
Shiba Inu (SHIB) price dropped by over 10% to $0.00001641 on May 9 amid a broader crypto market decline. This year, SHIB’s returns were 50% below zero, one of the worst performances by a top-ranking cryptocurrency in 2022. Last week, luxury fashion brand Gucci named Shiba Inu in the list of tokens it would accept for payments in five of its…
BTC fell to its lowest level since last July, as prices dropped below $33,000 to start the week. The selloff in cryptocurrency started last week, following the Fed’s decision to hike interest rates by 0.5%. In addition to bitcoin, ETH hit a two-month low as a result of the red wave. Bitcoin Bitcoin slipped to a ten-month low to start…
The CEO of mining and investment platform Mining Capital Coin (MCC) Luiz Capuci Jr. has been indicted for allegedly orchestrating a $62 million fraud that affected thousands of investors. According to a press release from the U.S. Department of Justice (DoJ) on Friday, Capuci promised to use investments to mine new cryptocurrency but instead diverted funds to wallets under his…
Cryptocurrency markets have been maturing over the last few years, making demand for crypto insurance solutions larger as more advanced players dip their toes into the nascent ecosystem. Investopedia reports that cryptocurrency insurance is seen as a “big opportunity,” with a spokesman from one of the world’s largest insurers, Allianz, saying that the company has explored product and coverage options…
