The spectacular implosion of the Terra ecosystem in mid-May left the crypto industry scarred. Though there were some brave critics who understood just how thin the razor’s edge was for TerraUSD (UST) — now TerraUSD Classic (USTC) — I think it’s safe to say that most people didn’t expect Terra to fail so fast, so dramatically and so completely irrevocably.…
The Indian government’s chief economic adviser has warned about innovations like crypto and decentralized finance (defi) in the absence of regulation. “We may not be fully aware or comprehend the kind of forces we are unleashing ourselves,” he opined. Indian Government’s Chief Economic Adviser Skeptical of Crypto, Defi, Decentralization The Indian government’s chief economic adviser (CEA), V. Anantha Nageswaran, reportedly…
Zcash (ZEC), a privacy coin that launched in 2016, unveiled an upgrade to its system on May 31 that will allow users to more easily make private, trustless digital cash payments on mobile phones. Not everyone would view this as a good development. The unfamiliarity, uncertainty and public intrigue surrounding privacy — including its complexity, misuse and speculative activity —…
U.S. Treasury Secretary Janet Yellen warns crypto is a “very risky investment,” adding that she would not recommend it to most people who are saving for retirement. However, Yellen noted that Congress could restrict the type of investments allowed in retirement accounts, including 401(k) plans. Janet Yellen on Investing in Cryptocurrencies for Retirement The topic of whether Americans should be…
American Express and Abra are launching a new credit card that will allow shoppers to earn cryptocurrency rewards “tradable across over 100 different cryptocurrencies” without annual or foreign transaction fees. American Express and Abra Launching Crypto Rewards Credit Card American Express (Amex) and crypto trading platform and wallet provider Abra announced the upcoming launch of the Abra Crypto Card on…
Bringing ‘Snow Crash’ to Life: Neal Stephenson Talks to Decrypt at Consensus Neal Stephenson, who coined the term “metaverse” in his seminal novel “Snow Crash,” speaks to Decrypt’s Jason Nelson along with Bitcoin Foundation founder Peter Vessenes, about the new “free metaverse” they’re co-launching, Lamina1. Source: https://decrypt.co/videos/live-events/pkHcbM7R/bringing-snow-crash-to-life-neal-stephenson-talks-to-decrypt-at-consensus
The government in Vilnius has approved amendments introducing more stringent regulations for the country’s growing crypto space. The legislation is aimed at managing risks associated with crypto assets and preventing Russian attempts to circumvent Western sanctions imposed over the war in Ukraine. Lithuanian Authorities to Tighten Rules for Crypto Industry Lithuania is preparing to revise its Law on Prevention of…
Nearly 30 years before Facebook became Meta, there was “the metaverse.” The author Neal Stephenson coined the term in his cyberpunk novel Snow Crash in 1992 to describe an online, VR-ish world where the inhabitants of humankind could interact and escape the dystopian unpleasantness of meatspace. Though Stephenson has long been fascinated by cryptography and digital money, as evidenced by…
Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Anonymous hacker served with restraining order via NFT In what’s perhaps an industry…
The total crypto market capitalization has been trading in a descending channel for the past 29 days and currently displays support at the $1.17 trillion level. In the past 7 days, Bitcoin (BTC) presented a modest 2% drop and Ether (ETH) faced a 5% correction. Total crypto market cap, USD billion. Source: TradingView The June 10 consumer price index (CPI)…
