The crypto exchange giant Coinbase is bracing for a slow second financial quarter – noting that crypto volatility and prices slumped last month – forecasting a drop in users and trading volume to continue into FY2022 Q2. In its latest letter to shareholders, the company revealed that trading volumes had fallen by 44% in…
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Cryptoasset exchanges are not placing walls between respective parts of their activities, such as trading, custody, and marketing services, which could lead to the “commingling” of their activities, and put their clients’ interests in jeopardy, according to Garry Gensler, Chair of the U.S. Securities and Exchange Commission (SEC). The official also indicated that his…
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Terra (LUNA) founder Do Kwon on Wednesday finally took to Twitter again, floating ideas for how the algorithmic stablecoin terraUSD (UST) can be saved after losing its US dollar peg on Monday. (Updated at 10:51 UTC: updates throughout the entire text.)… Read More: Terra’s Do Kwon Floats Ideas to Save UST as LUNA’s Collapse…
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The founder of the Azuki NFT project has been accused of abandoning three projects and Instagram has partnered with Dapper Labs to roll out Flow NFT support. The founder of the $723.5 million Azuki nonfungible token (NFT) project “Zagabond” caused a sh*tstorm yesterday after revealing that they had previously worked on three abandoned NFT projects.…
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Kucoin, a Seychelles-based cryptocurrency exchange, has announced it has raised $150 million in a pre-Series B funding round. The negotiation, which was led by Jump Crypto with the participation of other investors including Circle Ventures, IDG Capital, and Matrix Partners, has conferred the exchange a valuation of $10 billion. The exchange will use these funds…
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Major crypto exchange Coinbase has issued a new disclosure regarding the legal claims of retail users in the event of a bankruptcy event. In simple words, the disclosure to the US Securities and Exchange Commission (SEC) declared that Coinbase would have the right to hold crypto assets of its retail users as property of…
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Bitso, a Mexico-based cryptocurrency exchange, is expanding its range of crypto investing options. The company has announced it will now allow customers to earn funds just by holding bitcoin or stablecoins in its wallet. The program, called Bitso+, will offer different yields based on the quantities deposited by users, and it is designed to help…
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Russian independent media Meduza has managed to raise $250,000 in funding in order to continue providing unbiased news on the war in Ukraine. A Russian independent news company has raised more than $250,000 in cryptocurrency donations from supporters in order to continue reporting independent news under a barrage of Russian government propaganda and censorship. Meduza,…
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Venture capital continues to target crypto and fintech for funding, with Web3 emerging as a major trend in 2022. London-based asset manager Fasanara Capital has launched a $350 million investment fund to back fintech and cryptocurrency startups that can deliver new use cases for the emerging Web3 economy. The company, which manages $3.5 billion in…
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Do Kwon has urged holders of LUNA to “stay strong,” as the price moves ever closer to zero. Following the UST stablecoin losing parity with USD, prices have plunged, falling to a new low this morning. LUNA, UST Tumble Toward Zero As of writing, LUNA/USD is trading at $5.45, which is marginally higher than its…
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