Exchanges back ‘Terra 2.0 revival plan’ via airdrops, listing, buyback and burning

The fall of Terra (LUNA) shook the entire crypto market. However, the project has no plans to stay down as the project secured backing from crypto exchanges to help it rebuild.  In an announcement Thursday, Terra provided details about the airdrop of the new native token within its new blockchain dubbed Terra 2.0. The distribution of tokens will proceed on May 27, 2022 and holders of Terra Luna Classic (LUNC), TerraUSD Classic (USTC) and Anchor Protocol UST (aUST) who are eligible will receive new tokens. Crypto exchanges Binance and FTX…

SWIFT probably won’t exist in 5 years: Mastercard CEO

Mastercard CEO Michael Miebach said on Tuesday that he does not expect SWIFT, one of the most widely used platforms for cross-border fiat transactions, to exist in five years’ time.  Miebach was speaking at a panel session on central bank digital currencies (CBDCs), as part of the Global Blockchain Business Council (GBBC)’s Blockchain Central Davos conference, which ran adjacent to the World Economic Forum 2022 in Davos, Switzerland. Kicking off GBBC’s #BlockchainCentral Davos session on CBDCs with @eva_szalay @FT @YuvalRooz @digitalassetcom @Jbrookslassiter @Digital_Dollar_ @MiebachMichael @Mastercard @BIS_org @DBTreat @Accenture pic.twitter.com/C2fvgy0Bij —…

SWIFT probably won’t exist in 5 years, says Mastercard CEO

Mastercard CEO Michael Miebach said on Tuesday that he does not expect SWIFT, one of the most widely used platforms for cross-border fiat transactions, to exist in five years’ time.  Miebach was speaking at a panel session on central bank digital currencies (CBDCs), as part of the Global Blockchain Business Council (GBBC)’s Blockchain Central Davos conference, which ran adjacent to the World Economic Forum 2022 in Davos, Switzerland. Kicking off GBBC’s #BlockchainCentral Davos session on CBDCs with @eva_szalay @FT @YuvalRooz @digitalassetcom @Jbrookslassiter @Digital_Dollar_ @MiebachMichael @Mastercard @BIS_org @DBTreat @Accenture pic.twitter.com/C2fvgy0Bij —…

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BTC price breakout due ‘relatively soon’ as Bitcoin volumes spook traders

Bitcoin (BTC) disappointed bulls on upside prior to the May 26 Wall Street open as BTC/USD returned under $29,000. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Markets “eerily calm” post FOMC Data from Cointelegraph Markets Pro and TradingView tracked an uninspiring day for Bitcoin, with $800 of losses coming in a single hourly candle several hours before the start of trading. The largest cryptocurrency had avoided volatility on the release of minutes from the United States Federal Reserve’s Federal Open Markets Committee (FOMC). These had avoided any serious divergence from already…

Metaverse should be developed from children’s perspective, says LEGO VP

Metaverse and Web3 dominated the discussions on the fifth day of the ongoing World Economic Forum (WEF). A panel discussion on “The Possibilities of the Metaverse” was joined by High Fidelity co-founder Philip Rosedale, Mindfire Foundation founder Pascal Kaufmann, Magic Leap CEO Peggy Johnson, New York University – Abu Dhabi assistant research professor Hoda AlKhzaimi and Lego Group vice president Edward Lewin. The key point of discussion revolved around the building blocks and future prospects of the metaverse. The panelists discussed the technical aspects, security and role of human sentiments…

‘Yikes!’ Elon Musk warns users against latest deepfake crypto scam

Tesla CEO Elon Musk distanced himself from yet another fabricated video promoting a cryptocurrency scam. Originally shared on Twitter, the video in question was a deepfake of Musk purportedly promoting a cryptocurrency platform boasting 30% returns on crypto deposits. Scammers made use of original footage from a TED Talk featuring Musk and curator Chris Anderson at a TED conference in Vancouver in April this year. The tweet and video caught the attention of Musk himself, who’s been increasingly active since his move to acquire the social media platform for an…

Portugal’s Assembleia da Republica says no to two crypto tax bills

The Portuguese congress, Assembleia da Republica, has rejected two bills that would have imposed a tax on cryptocurrencies. Portugal has long been regarded as a cryptocurrency tax haven, and the trading of cryptocurrencies has been tax-free since 2018. In addition, trading digital assets is not considered investment income in Portugal. This has attracted crypto startups and events to Lisbon, despite the fact that businesses that accept Bitcoin must pay income tax on it. The Portuguese Minister of Finance, Fernando Medina, had recently declared that cryptocurrencies in the country will soon…

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