In brief Terra validators opted to halt the blockchain network after this week’s collapse of both UST and LUNA. Validators plan to restart the network after applying a patch to avoid potential attacks. After Terra’s UST stablecoin lost its U.S. dollar peg earlier this week, the firm’s LUNA cryptocurrency went into free fall. And today, after shedding nearly 100% of…
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, says cryptocurrency exchanges are “trading against their customers often because they’re market-marking against their customers.” He has raised concerns over crypto trading platforms “commingling” services. SEC Chair Gensler on Crypto Exchanges Trading Against Customers SEC Chairman Gary Gensler said in an interview with Bloomberg News Tuesday that some…
Validators for the Terra blockchain have decided to officially halt network activity on Thursday in a move designed to prevent governance attacks following the severe devaluation of the network’s LUNA token. Terraform Labs’ official Twitter handle confirmed that the blockchain network was halted at a block height of 7,603,700. The move follows a series of dramatic events that triggered an…
Macro investor Raoul Pal is convinced that the current crypto bear market will end only once the Fed eases its hawkish monetary policy by halting interest rate hikes. That could happen in the next couple of months, according to Pal’s predictions. “The Fed are unlikely to raise rates as far and as fast as people expect. My guess is they…
Next week, the stars of the film world will descend on the French Riviera for the Cannes Film Festival—and Decrypt will be there with them. Alongside the Festival, Decrypt along with partners FF3 and Decentralized Pictures will host a day of discussions on The Future of Film, exploring how Web3 technologies such as blockchain and NFTs will change the face of the…
Tl;dr: Coinbase enables web3 developers to integrate Coinbase Pay into their dapps, and MetaMask will be the first external wallet integration. By Prakash Hariramani, Senior Director, Product Management, and Bipul Sinha, Senior Product Manager We launched Coinbase Pay to make it easier to fund your Coinbase Wallet, and now we’re expanding this ease to the broader crypto ecosystem by enabling…
Regulatory attitudes toward crypto are constantly evolving, often at a slower pace than the crypto industry itself. Institutions and the broader public will not seriously consider working with cryptocurrencies without clear and comprehensive regulation. Furthermore, the industry suffers from widespread scams, phishing and hacks that very often have no legal repercussions. This bolsters the audacity of wrongdoers and augments the…
In brief Treasury Secretary Yellen acknowledged that a $2 trillion market cap for crypto is not a systemic risk. Yellen also addressed the recent meltdown of the Terra stablecoin UST. Treasury Secretary Janet Yellen told members of Congress on Thursday that she doesn’t believe the crypto market has grown to a scale that it poses a “systemic risk”—a designation that…
Dogecoin (DOGE) shows the prospect of undergoing a strong price rebound after reaching a technical support confluence on May 12. DOGE price 25% bounce incoming? DOGE’s 45% price drop to $0.065 this week, or a 90% decline from its record high of $0.76 a year ago, was met with decent buying sentiment. As a result, the token underwent a modest…
Digital currency markets have continued to slide downward in value as the crypto economy has dropped by 14% during the past 24 hours. Amid the market rout, the native Terra blockchain token LUNA has dropped to fresh new lows, slipping to $0.0156 per unit. Terra’s founder Do Kwon revealed a plan on Wednesday, but after some brief healing, Terra’s native…
