Day: June 13, 2022

Crypto Markets Lose $100 Billion As Bitcoin Drops Below $26K

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The broader crypto markets have been particularly shaken up in the previous 24 hours, with Bitcoin falling below the $26,000 threshold once more. Bitcoin is currently selling at $25,168.94, down 16% in the last week, according to statistics from Coingecko published on Monday. As Bitcoin fell to its lowest level since late 2020, the entire cryptocurrency market is feeling the squeeze of recession fears, which could deter investors from placing riskier wagers. Suggested Reading | Bitcoin Takes A Beating At $27K As Crypto Economy Settles Just Above $1 Trillion However,…

Do Kwon Accused of Cashing out $2.7B Before UST Collapse, Terra Founder Says Allegations Are False – Bitcoin News

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Terra’s new LUNA 2.0 token has lost 54% in value in the last two weeks, after reaching $11.33 per unit on May 30. Meanwhile, the whistleblower Fatman has accused Terra’s co-founder Do Kwon of cashing out $2.7 billion a few months before the UST de-pegging incident. Kwon, however, has been keeping tabs on Fatman’s accusations and he claims the allegations are “categorically false.” LUNA 2.0 Token Drops 54% in Value During the Last 2 Weeks The LUNA 2.0 rebirth token has been extremely lackluster in terms of market performance during…

Ethereum Takes Major Hit, Can The Bulls Protect More Losses

Ethereum tumbled below the $1,500 support against the US Dollar. ETH must stay above $1,300 to avoid a drop towards $1,120 or even $1,000. Ethereum declined over 20% and traded below the $1,500 support. The price is now trading below $1,500 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $1,420 on the hourly chart of ETH/USD (data feed via Kraken). The pair might start a recovery wave if there is a clear move above the $1,425 resistance. Ethereum Price Declines…

Kraft Foods files for NFT and Metaverse patents, Seth Green gets his ape back, and more…

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American food manufacturing and processing giant Kraft Foods Group has filed NFT and Metaverse patents for several of its popular brands.  The firm joins a host of mainstream companies such as Gatorade, Nike, Adidas, and Coca-Cola that have moved to secure their products and branding in the crypto/virtual sphere. According to a June 13 Tweet from United States Patent and Trademark Office (USPTO) licensed trademark attorney Mike Kondoudis, Kraft Foods has locked in trademarks for Jell-O, Kool-Aid, Velveeta, Lunchables, Oscar Mayer, Philadelphia, and of course the Kraft brand. The firm’s…

$320M in crypto sent to FTX, user withdrawals paused

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Crypto staking and lending platform Celsius may be dealing with its rumored liquidity crisis by unstaking $247 million worth of Wrapped Bitcoin from Aave and sending it to FTX exchange. Speculations among the crypto community are now flaring as the project has been moving massive amounts of WBTC, ETH, and other crypto assets in addition to pausing withdrawals for users. Celsius users have criticized the platform for how they believe the project has mismanaged its funds following the collapse of the Anchor Protocol on the now-named Terra Classic blockchain. The…

Pennsylvania pharmacist feeds thousands of homeless using crypto

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Pennsylvania-based pharmacist Kenneth Kim had always “wanted to do something with crypto” that could “make the world a better place”.  In 2019, he founded what is known today as Crypto for the Homeless (CFTHL), a New Jersey registered non–profit organization, which has fed more than 5,000 homeless people around the world through the use of digital currencies. “I always had the desire to get involved with some kind of project in crypto… if it made the world better that would be the best possible scenario,” Kim told Cointelegraph. Whilst he…

Best Cryptocurrency Exchange in India 2021 | Best Bitcoin App | Wazirx vs Coinswitch vs Coindcx

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Billionaire Stan Druckenmiller Prefers Bitcoin Over Gold in ‘Inflationary Bull Market’ – Markets and Prices Bitcoin News

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Renowned billionaire hedge fund manager Stanley Druckenmiller says that in an inflationary bull market, he wants to own bitcoin more than gold “for sure.” However, he explained that in a bear market, he would prefer to have gold. Stanley Druckenmiller on Crypto, Bitcoin, and Blockchain Stan Druckenmiller shared his view on bitcoin and cryptocurrency investing in an interview with the Sohn Conference Foundation, published Saturday. Druckenmiller is chairman and CEO of Duquesne Family Office LLC. He was previously a managing director at Soros Fund Management where he had overall responsibility…