Solana, NEAR and AVAX were all trading over 20% lower on Wednesday, as global crypto markets continued to fall on hump-day. The cryptocurrency market cap is currently down 6.35%, as traders continued to digest the recent crash in the price of LUNA and UST. Solana (SOL) Solana was down by over 20% during Wednesday’s trading…
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“The same rules that apply to investments in the physical world continue to apply to investments in virtual worlds,” said the regulators. Authorities in the U.S. states of Alabama, Kentucky, New Jersey, Texas and Wisconsin have filed enforcement actions against the Flamingo Casino Club for allegedly perpetrating a scam through nonfungible tokens (NFTs) tied to…
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Several major financial services firms, including Citi, Wells Fargo, and BNY Mellon, are investing in institutional digital asset technology provider Talos, which aims to remove “the barriers to wide-scale crypto adoption.” The latest funding round values the company at $1.25 billion. Citi, Wells Fargo, BNY Mellon Participate in $105M Funding Round for Digital Asset Tech…
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Pressure from the Kremlin and sanctions from the West have forced Russian news outlet Meduza to increasingly rely on cryptocurrency donations to fund its independent journalism. As the restrictions imposed over Moscow’s invasion of Ukraine have prevented its Russian readers from contributing in fiat currency, the Riga-based website now accepts several digital coins. Meduza Pulls…
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Bitcoin leverage traders show little interest in going long even as BTC price flirts with new lows below $29,000. Bitcoin (BTC) price initially bounced from its recent low at $29,000 but the overall market sentiment after a 25% price drop in five days is still largely negative. Currently, the crypto “Fear and Greed Index,” which…
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Rostin Behnam and Gary Gensler make their positions clear in keynote addresses at the annual meeting of the ISDA with Sam Bankman-Fried in attendance. The annual meeting of the International Swaps and Derivatives Association (ISDA) began Wednesday in Madrid. United States Securities and Exchange Commission (SEC) chairman Gary Gensler and U.S. Commodity Futures Trading Commission…
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Projects associated with Terra suffer losses of more than 80% as contagion spreads. Meanwhile, Maker (DAI) gets a boost as traders look for other decentralized stablecoin options. The knock-on effect of the collapse of Terra (LUNA) and its TerraUSD (UST) stablecoin have spread wide across the cryptocurrency market on May 11 as projects with any…
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Do Kwon, co-founder and CEO of Terraform Labs, the entity behind Terra (LUNA), found himself in a peculiar position with his bet that LUNA would stay above USD 88 – as the coin dropped over 90% in a single day. In mid-March, Do Kwon took a bet with pseudonymous Twitter user Sensei Algod, a…
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Bitcoin (BTC), ethereum (ETH), and the broader crypto market experienced a sharp correction today after the terraUSD (UST) stablecoin collapsed, and an inflation report in the US revealed higher-than-expected price rises. However, prices later turned around, marking a strong recovery for the major cryptoassets. As of 15:20 UTC, BTC traded at USD 31,459, up…
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US inflation hit 8.3% in April, down from a peak of 8.5% the month before, but still above expectations, new data from the US Bureau of Labor Statistics show. Right after the release, a sharp and short-lived correction across the crypto market started…. Read More: US Inflation Surpasses Expectations, Bitcoin and Ethereum in Rollercoaster…
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