Day: May 20, 2022

SEC Chair Gensler Warns a Lot of Crypto Tokens Will Fail Following LUNA, UST Collapse – Regulation Bitcoin News

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The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has warned that a lot of crypto tokens will fail and many crypto investors will get hurt following the collapse of terra (LUNA) and stablecoin terrausd (UST). SEC Chair Gensler’s Warning After LUNA and UST Collapse U.S. Securities and Exchange Commission Chairman Gary Gensler expressed his concerns Wednesday that more crypto investors will be harmed following the implosion of cryptocurrency terra (LUNA) and stablecoin terrausd (UST). He told reporters after a House Appropriations Committee panel hearing: I think…

Terra collapsed because it used hubris for collateral — Knifefight – Cointelegraph Magazine

The rise and fall of the Terra blockchain and family of related tokens is both one of the most convoluted and one of the most important stories happening in crypto right now. Assembled here is a plaintext explanation of what Terraform Labs built, why it got so big, why it imploded, what it means for the markets, and what you need to know to keep yourself safe from similar projects in the future. What exactly is Terra? That’s a great question, and we will answer it. But first, let’s found…

Unpacking CTV and How It Would Change Bitcoin

When you send a Bitcoin transaction currently, it goes a little something like this: You acquire an address from your recipient, you pick out which unspent transaction outputs (or UTXOs, what the cool folks call “coins”) you want to send, and you sign a transaction with your private key that proves you authorized the spend. Source

Moscow Exchange Reports Dip in FX Activity for April 2022

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Moscow Exchange (MOEX) published its trading volumes for April 2022 today and witnessed a substantial drop in foreign exchange (FX) trading activity. For the whole month, FX trading volumes reached RUB 22 trillion, compared to RUB 34.2 trillion in April 2021. As far as the average daily trading volume is concerned, the figure came in at RUB 1,049 billion, compared to RUB 1,553 billion in April 2021. Additionally, the derivatives market witnessed a significant drop in activity as the trading volume dipped from RUB 13.8 trillion in April 2021 to…

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European families see crypto as a tool to increase savings: Survey

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While there are risks associated with crypto investing, some see it as a way to boost their family savings, a recent study commissioned by crypto trading platform BitMEX shows.  The survey, conducted by research firm Kantar, tried to discover crypto-related trends among consumers in 2022. Going through 3,000 respondents within 14 markets in Europe, Asia and Latin America, the study found that Europeans look at crypto as a method for investments and saving up for their families. Fifty-five percent of the European participants declared that they currently hold cryptocurrency. Moreover,…

BTC Back Above $30,000 as Week Long Consolidation Continues – Market Updates Bitcoin News

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This week’s whirlwind price swings in crypto markets continued on Friday, with BTC moving higher, following yesterday’s declines. Bitcoin has risen back above $30,000 on Friday, with ETH also climbing above its $2,000 point. Bitcoin Bitcoin was trading higher on Friday, as price uncertainty in crypto markets continued to grip traders, leading mainly to consolidation. Following a decline to a low of $29,389.44 during Thursday’s session, BTC/USD rose by over 3% on Friday, hitting a high of 30,664.98 in the process. The move comes as a floor in prices may…

Is there any future for algorithmic stablecoins?

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TerraUSD (UST) is an algorithmic stablecoin that is pegged at $1.00. But, on the evening of May 19, it was trading for $0.083. This isn’t supposed to happen, of course, but last week UST, along with its affiliated coin Terra (LUNA), performed a sort of death spiral that “wiped nearly $50 billion of investor wealth in a few short days,” according to NYDIG’s May 13 newsletter. The crash shook the crypto sector, but it also raised some questions: Is this about a single flawed project or is it also about…

How To Spot a Trustworthy Crypto Casino

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Crypto casinos are online casinos that use cryptocurrency as their primary means of payment. While traditional online casinos tend to focus on fiat currencies, crypto casinos offer a more decentralized approach that makes use of digital assets such as Bitcoin and Ethereum. Crypto & Bitcoin casinos have become increasingly popular in recent years, thanks to their anonymity, fast transactions, and low fees. However, not all crypto casinos are created equal. In order to ensure that you’re playing at a trustworthy site, there are a few things you should look for.…

Blockchain and digitization to take center stage at Davos

The annual meeting of the World Economic Forum (WEF) is scheduled to take place from May 22–26,  marking the first in-person WEF global leadership event since the pandemic began. The annual meeting was first scheduled for January but was later turned into a virtual event in light of growing COVID-19 infections during the winter. The Davos Agenda 2022 virtual event took place from January 17–21, 2022, which saw major world leaders appeal for cooperation in tackling major global socioeconomic issues. Discussions during the virtual event revolved around global economic recovery,…