Since June 12, 2022, the Tron-based stablecoin USDD has remained below a U.S. dollar in value. On Monday, USDD had a 24-hour trading range of around $0.943 to $0.966 per unit and the day prior on June 19, USDD saw an all-time low at $0.928 per unit. Despite being below the U.S. dollar parity, the Tron DAO Reserve says the…
Hong Kong-based crypto lending firm, Babel Finance, has eased some of its immediate liquidity troubles by reaching debt repayments agreements with some of its counterparties. As previously reported, the firm issued a temporary suspension of redemptions and withdrawals from its products on June 17 after citing “unusual liquidity pressures” in the current bear market. The company stated it was taking…
sponsored Everyone would agree that the DeFi industry is absolutely booming right now, and for good reason. After all, there is an abundance of technological innovation right now through aspects such as cryptocurrencies, NFTs, P2E games, blockchain, and most recently the metaverse. With that being said, it can often prove difficult to ascertain which projects in this sector are worth…
A video released by investigative YouTuber Philip Rusnack, known as ‘Philion,’ has revived the debate over whether Yuga Labs’ flagship Bored Ape Yacht Club (BAYC) non-fungible token (NFT) collection employs racist imagery and white supremacist esotericism. In the hour-long video released June 20 on YouTube, Rusnack laid out his case, claiming that BAYC is “one massive alt-right inside joke” using…
The longer the crypto market stays in bearish territory, the more marketing deals with American sports teams are being taken off the table as crypto firms tighten their belts. Crypto exchange FTX has been rethinking its marketing plan to plaster its name and logo across Los Angeles Angels jerseys, according to a June 20 report from the NY Post. The…
The below is a free, full excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now. In today’s Bitcoin Magazine Pro, we will cover the historically significant 200-week moving average as well as cover the…
Deutsche Bank has updated its recession forecast. The bank’s economists now see “an earlier and somewhat more severe recession” than previously predicted. “The Fed has undertaken a more aggressive hiking path, financial conditions have tightened sharply and economic data are beginning to show clear signs of slowing,” said the economists. Deutsche Bank’s Recession Forecast Deutsche Bank’s chief U.S. economist, Matt…
The top social media platform in China, WeChat, has updated its policies to ban accounts that provide access to crypto or NFT-related services. Under the new guidelines, accounts involved with the issuance, trading, and financing of crypto and NFTs will be either restricted or banned and will fall under the “illegal business” category. The policy also covers secondary NFT trading,…
This is an opinion editorial by Conor Chepenik, a contributor to Bitcoin Magazine. Humans are derivatives of other humans. Initially, we learn how to act based on our parents’ behavior and as we get older we develop critical thinking skills and parrot the talking points of others that resonate with us. That is why choosing what you fill your mind…
The Sepolia testnet Beacon Chain has gone live, setting the stage for its merge dress rehearsal to give Ethereum network developers valuable technical insights. Upon merging with its dedicated Beacon Chain, the Sepolia testnet will begin reaching consensus using proof of stake (PoS) rather than proof of work (PoW) which will provide data on what may happen when the Ethereum…
