Day: August 16, 2022

Do Kwon breaking silence triggers responses from the community

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As the Terra (LUNA) co-founder and CEO Do Kwon breaks his silence about the collapse of the algorithmic stablecoin Terra USD (UST) and LUNA, the community responded with various sentiments against the Terra executive.  Despite Kwon’s attempts to clear his name in an interview, community members remain unhappy with the Terra CEO. In a tweet, podcaster Eric Conner compared Do Kwon’s situation with the Tornado Cash developer who has been arrested. According to Conner, Kwon scammed billions and is still “partying” while Tornado Cash developers wrote some code for privacy…

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Crypto lender Hodlnaut seeks judicial management to avoid forced liquidation

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Singapore-based crypto lending platform Hodlnaut is seeking judicial management to manage its ongoing liquidity crisis and avoid the forced liquidation of assets in the current bear market. The crypto lender informed its users in a Tuesday announcement that they have applied to the Singapore High Court to be placed under judicial management. The firm said: “We are aiming to avoid a forced liquidation of our assets as it is a suboptimal solution that will require us to sell our users’ cryptocurrencies such as BTC, ETH and WBTC at these current depressed asset prices.…

‘Durmientes’ Aims to Be One of the First Films Funded Fully With NFT Sales in Latam – News Bitcoin News

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“Durmientes,” a new movie that will be directed by Gibran Bazan, a Mexican filmmaker, aims to be funded fully by the sale of a series of non-fungible tokens (NFTs). The NFTs, which will be sold on Metaown, a Mexico-based NFT marketplace, and designed by artist Gabriel Colin, will feature 3D models that will be connected to the story of the film and will bring benefits to owners. Durmientes Will Try to Succeed Using an NFT-Based Financing Model Cryptocurrencies and non-fungible tokens (NFTs) are migrating to other industries that…

Blue chip NFT performance fails recovery, but investors HODL even harder

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The market performance of blue chip nonfungible tokens (NFTs), often considered a good long-term investment, revisited its all-time low range for the second time since June 2022 — falling down below 10,000 Ether (ETH) in the blue-chip index maintained by NFTGo. Blue chip NFTs marked their best performance not too long ago, on April 29, amounting to nearly 14,900 ETH. However, June 13 was the worst performing day in blue chip NFT history when the index fell down to 9,331 ETH — primarily driven by a floor price adjustment in…

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