Numerous developers have been left in uncertainty in the aftermath of the Terra (LUNA) collapse. These Terra-based projects, which are already under a lot of pressure, may be able to save their communities and projects by migrating to other networks. In a move that is expected to benefit both the Polygon (MATIC) community and Terra projects, Polygon Studios’ CEO Ryan…
Coinsource is installing 800 bitcoin ATMs across midwestern Kwik Trip gas stations. Coinsource charges a flat 11% fee and offers a discount to Kwik Trip rewards members. Kwik Trip employs over 32,000 employees and is one the largest, family-owned and top rated gas stations brands. Coinsource, one of the largest bitcoin ATM providers in the U.S., has announced a partnership…
Nonfungible tokens, or NFTs, are turning out to be a treasure store with prices striding into the millions of dollars. Instances of an NFT garnering more than $69 million or a tweet fetching $2.9 million are not a fantasy, but an incredible reality. In 2021, an NFT by digital artist Beeple, or Mike Winkelmann, sold for a whopping $69 million,…
Binance CEO Changpeng Zhao said Monday that the cryptocurrency exchange never sold the 15.4 million LUNA it received in return for a $3 million investment made in the Terra ecosystem in 2018. Binance’s holdings in the Terra blockchain’s governance token were at one point worth $1.6 billion. Now it’s worth just $2,461, and still sitting in the wallet that it…
Japanese brokerage Nomura will reportedly launch a subsidiary to offer bitcoin and other cryptocurrency services to institutional clients.The wholly-owned unit will have a staff of 100 by 2023, a report said.Nomura executed some of its first trades with bitcoin derivatives last week. Nomura Holdings Inc., Japan’s largest investment banking group, is launching a new subsidiary focused on institutional client services…
On May 13, Circle’s chief financial officer Jeremy Fox-Geen published a blog post called “How to Be Stable,” following the aftermath of Terra’s stablecoin implosion. Circle’s CFO explained that since usd coin’s inception, the stablecoin aims to be “the most transparent and trusted dollar digital currency.” Terra’s Stablecoin De-Pegging Incident Has Cast a Spotlight on the Entire Stablecoin Economy For…
Over-the-counter, or OTC, trading refers to any trading that is not done via an automated exchange. What exactly is OTC trading? Who does it, and why? To learn more about what an OTC desk is and how these “under the radar” exchanges operate, Magazine spoke to a few insiders to get the scoop. The most popular conception of OTC trading…
In brief Like the U.S. dollar and most other fiat currencies, Bitcoin isn’t backed by physical assets in a vault, but instead by its value as a mode of payment. The maths underpinning Bitcoin‘s blockchain contributes to its desirability in a number of ways. The argument that Bitcoin (BTC) has no value because it isn’t backed by anything physical remains…
As the market continues to mourn over losses on the Terra UST and LUNA debacle, DEI, a stablecoin used as a collateral mechanism for third-party instruments built on the Fantom-based decentralized finance (DeFi) protocol DEUS Finance (DEUS), has failed to maintain its dollar peg, falling below 60 cents on Monday. As the price of DEI hit an all-time low of…
Following a volatile weekend of trading, cryptocurrency prices consolidated to start the week, with BTC close to its long-term floor. Overall, bitcoin was trading marginally below $30,000, with ETH hovering slightly above $2,000. Bitcoin BTC started the week trading below $30,000 following a volatile weekend of trading, which saw prices mainly consolidate. Following a rise to a peak of $31,308.19…
