South Korean authorities are reportedly looking at the Terra crash to check for signs of intentional price manipulation and other issues. The South Korean government continues to investigate Terraform Labs, the firm behind the Terra Network as well as Luna Classic (LUNC), previously known as Terra (LUNA), and TerraUSD (UST) tokens, by reportedly summoning subpoenas…
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Bear market advice from Youtuber NasDaily, whose “once in a generation” bet on Bitcoin is down roughly $200,000. Youtuber NasDaily endured a Bitcoin (BTC) baptism by fire. The entrepreneur and influencer with over 50 million followers invested $500,000 in Bitcoin —right before the bear market kicked in. Cointelegraph spoke to NasDaily (whose real name is…
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A proposal to permit companies to use cryptocurrency in cross-border settlements has made its way to a draft law designed to regulate Russia’s crypto space this year. According to a press report, the finance ministry has introduced a number of revisions to the legislation it has been working on in the past few months. Changes…
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Authorities in Belarus have mastered the seizure of cryptocurrencies, the head of the country’s Investigative Committee revealed in a recent interview. The high-ranking law enforcement official claims the state has already confiscated crypto assets worth millions of dollars. Companies Allegedly Help Belarus Government With Crypto Seizure Belarus had to deal with the challenge of how…
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The Central Bank of Russia (CBR) has accelerated the development of its digital ruble in response to Western sanctions. The monetary authority now intends to pilot transactions with the new version of the national fiat in early 2023 instead of 2024, as originally planned. CBR to Launch Transactions, Smart Contracts With Digital Ruble as Early…
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The share of crypto miners in Russia’s power consumption structure already exceeds 2%, according to a new government estimate. On this backdrop, the country’s industry ministry believes it’s time to bring the sector out of the shadows and regulate it. Crypto Miners Burn More Electricity Than Russian Farmers Miners extracting digital currencies account for more…
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The past week in DeFi saw Uniswap breach $1 trillion trading volume, while WEF 2022 saw Terra at the center of most crypto and DeFi discussions. The decentralized finance (DeFi) ecosystem continues to struggle with the ongoing market volatility and after-effects of the Terra ecosystem collapse. Over the past week, major DeFi protocols showed signs…
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The Terra 2.0 mainnet (Phoenix-1) went live today as per the original timeline set by Terra developers and started producing blocks. Do Kwon, the co-founder and CEO of Terraform Labs, confirmed the relaunch of Terra’s new chain, Terra 2.0, which aims to revive the fallen Terra (LUNA) and TerraUSD (UST) ecosystem. Kwon’s revival plan for…
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Authorities in Russia are mulling over the possible use of digital currencies for international payments, a high-ranking official from the finance ministry has indicated. If recognized as property, he noted, cryptocurrency can be utilized in barter deals with foreign partners. Finance Ministry Suggests Russia May Employ Crypto in International Trade The possibility of using cryptocurrencies…
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New partnerships, a mainnet upgrade and plans to launch a stablecoin appear to have triggered a 200% rally in WEMIX price. Blockchain-based gaming, also known as GameFi, is an up-and-coming sector that could potentially be one of the primary catalysts for kickstarting the mass adoption of blockchain technology. WEMIX, a gaming protocol that operates on…
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