Terraform Labs has accused U.S.-based American market-making firm Citadel Securities LLC of intentionally destabilizing its TerraUSD (UST) stablecoin in May 2022, alleging that the firm was the result of a “concerted, intentional effort” rather than an algorithmic failure. The UST stablecoin was designed to maintain its 1:1 peg to the U.S. dollar by ensuring that the supply and demand for…
Bitcoin (BTC) ranged around the key $26,800 mark for a second day on Oct. 13 with a decision due in United States regulators’ battle with crypto investment giant Grayscale. BTC/USD 1-hour chart. Source: TradingView Bitcoin lurks between major liquidity clouds Data from Cointelegraph Markets Pro and TradingView confirmed BTC price barely changed from the day prior, acting in a narrow…
At the recent Future Innovation Summit event held in Dubai, Cointelegraph moderated a panel titled “Stablecoins, Central Bank Digital Currencies and Cross-Border Payments” to explore if CBDCs and stablecoins can coexist and how this would be possible. The panel included Jorge Carrasco, the managing director of FTI Consulting; Nikita Sachdev, the founder of Luna Media Corp; Jagadeshwaran Kothandapani, the head…
Ripple chief technology officer David Schwartz has countered Cardano founder’s comments about possible motives behind the United States regulators’ determination that Ether (ETH) is not a security. Cardano founder Charles Hoskinson addressed the much-debated ETHgate theory in an AMA session on Oct. 8, arguing that the government’s actions were not about corruption. ETHgate is a conspiracy theory alleging that Ethereum…
In the ever-evolving world of cryptocurrencies, Litecoin (LTC) stands out as a trailblazer. Often dubbed the “silver to Bitcoin’s gold,” Litecoin has carved a unique niche in the digital currency landscape. But what exactly is LTC Litecoin, and how does it operate? In this article, we’ll delve deep into the mechanics of this pioneering cryptocurrency, shedding light on its origins,…
China has released draft security regulations for companies providing generative artificial intelligence (AI) services, encompassing restrictions on data sources used for AI model training. On Wednesday, Oct. 11, the proposed regulations were released by the National Information Security Standardization Committee, comprising representatives from the Cyberspace Administration of China (CAC), the Ministry of Industry and Information Technology and law enforcement agencies.…
The SEC must appeal Grayscale’s win in a D.C. Appeals Court on Oct. 13, or it will have to approve — or try to delay — the firm’s Bitcoin ETF bid. Source: https://cointelegraph.com/app/public/index.php/news/what-happens-if-sec-appeal-grayscale-spot-bitcoin-etf-ruling
The United States government is considering additional measures to curb Chinese developers from gaining access to artificial intelligence (AI) semiconductor chips made in the U.S. via third parties. According to a report from Reuters on Oct. 13, people close to the matter have said that the Biden administration is targeting a loophole that has allowed developers in China to purchase…
RUNE, the native token of THORChain, saw a staggering 10.5% overnight rise as the project resumed trading on its leading exchange THORSwap. THORSwap suspended trading last Friday after illicit funds linked to the FTX exploit in November 2022 were allegedly passed through the exchange. Services such as lending, borrowing, and staking actions remained operational. THORSwap uses the assets deposited on…
On Oct. 13, the Group of Twenty (G20), an international forum for the governments and central banks of countries with developed and developing economies, unanimously adopted the G20 Finance Ministers and Central Bank Governors Communique during its meeting in Marrakesh, Morocco. Regarding crypto, the G20 accepted the regulatory roadmap proposed in a joint Synthesis paper of the International Monetary Fund…
