Day: June 13, 2022

ViaBTC Capital | After UST’s Fall, Can NEAR’s Stablecoin USN Avoid a Similar Death Spiral?

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Background In May 2022, UST and LUNA, which once recorded a total market cap of over $40 billion, collapsed overnight, and plenty of users suffered huge losses as a result. Following the crash, algorithmic stablecoins have once again become a popular crypto topic. USN, a stablecoin native to an emerging public chain named NEAR, was launched almost at the same time as UST collapsed. The fall of UST showed this nascent stablecoin how the death spiral of an algorithmic stablecoin can engulf and destroy everything like a terrifying black hole,…

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CZ says funds are ‘SAFU’

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Crypto’s Black Monday continues to wreak havoc. Changpeng Zhao, the CEO of crypto exchange Binance, tweeted that there would be a temporary pause on Bitcoin (BTC) withdrawals. Temporary pause of $BTC withdrawals on #Binance due to a stuck transaction causing a backlog. Should be fixed in ~30 minutes. Will update. Funds are SAFU. — CZ Binance (@cz_binance) June 13, 2022 CZ, who often lends his opinion to projects and the market, regularly tweets on behalf of Binance to his 6.4 million followers. He quickly updated the tweet to show:  This…

BTC Drops Below $24,000 to Lowest Level Since December 2020 – Market Updates Bitcoin News

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Bitcoin fell to its lowest level since December 2020 to start the trading week, as crypto markets continue to plunge. ETH also fell considerably on Monday, as prices declined by over 16%, falling below $1,200 in the process. Bitcoin Bitcoin fell to its lowest level since December 2020 on Monday, as crypto markets plunged to start the week. Markets sold off over the weekend following an unexpected rise in U.S. inflation, with price declines carrying over into the new trading week. BTC/USD fell to an intraday low of $23,607.69 earlier…

Binance.US faces class-action lawsuit over LUNA and UST sale

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Binance.US, the sister company of global cryptocurrency exchange Binance, is facing a class-action lawsuit from investors for the sale of LUNA and TerraUSD (UST). A group of investors filed a class-action lawsuit in the Northern District of California on Monday, alleging that Binance sold unregistered securities in the form of LUNA and UST to investors and mislead them into buying them. The lawsuit was filed by law firms Roche Freedman and Dontzin Nagy & Fleissig on behalf of several investors who lost their money during the recent LUNA and UST collapse. The…

Binance pauses bitcoin withdrawals as crypto sell-off deepens

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The logo of cryptocurrency exchange Binance displayed on a smartphone with the word “cancelled” on a computer screen in the background. Budrul Chukrut | SOPA Images | LightRocket via Getty Images Binance said Monday that it is temporarily pausing bitcoin withdrawals “due to a stuck transaction causing a backlog.” At first, Binance founder and CEO Changpeng Zhao said in a tweet that the issue would be fixed within 30 minutes. But he later amended that to say, “Likely this is going to take a bit longer to fix than my…

Musk and Saylor down a combined $1.5B on Bitcoin buys

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As the bear market bites, holding crypto investments can be a tough pill to swallow. Consider two of the largest bag holders of publicly traded companies. They are down by almost $2 billion dollars on their Bitcoin buys.  According to Bitcointreasuries.net, the 130,000 and 43,00 Bitcoin (BTC) held by Microstrategy and Tesla respectively are worth considerable sums less. The top “Hodlers” of Bitcoin according to Bitcointreasuries.net For Microstrategy, Michael Saylor splashed out almost $4 billion ($3,965,863,658) on 129,218 BTC, approximately 0.615% of the 21 million total supply. The Bitcoin price…

Introducing CUBE 2.0 and its Ecosystem Partners

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If there is one thing that current blockchains lack, it is entertainment ecosystems. The entertainment industry, valued at $2.2 trillion, has the largest combined audience of any sector. And bringing that on the blockchain can open up tremendous opportunities and benefits for the masses. CUBE is one such project bringing entertainment to the blockchain through its P2E metaverse setting. It is a game Launcher for P2E games developed by Netmarble F&C, Inc. Netmarble is the company behind popular titles including “The Seven Deadly Sins: Grand Cross” and “Blade & Soul:…

10 Top Blockchain Project Ideas for Beginners and Students | Blockchain Projects 2021

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Get Certified in Blockchain Technology. Both tech and Non-Tech can apply! 10% off on Blockchain Certifications. Use Coupon Code – blockchain10 Blockchain is conceptually completely new and the best way to learn it is by doing hands-on blockchain projects than just going through documents and watching videos. In this video, we will discuss some of the most interesting project ideas that you can implement in Blockchain. The blockchain project ideas suites a beginner, a student (final year), or anyone who’s looking to…

More Than 253,000 Traders Liquidated As Crypto Bloodbath Continues

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The crypto bloodbath has left thousands of traders in a bad way. A rapid decrease in price has seen more than 240,000 traders rekt in the span of 24 hours. As the downtrend continues, more investors are added to the long line of losers, most of which have been long traders. As it stands, there are now almost a billion dollars that have been liquidated in the market so far and this number continues to climb with bitcoin declining below $24,000. Over $940 Million In Crypto Liquidated Over the last…