The proposal highlighted that the burn may help restore the UST dollar peg by burning the excess supply. In another attempt to support the revival of Terra (LUNA), the community voted to burn a large amount of UST from its community pool. Earlier in May, Terra founder Do Kwon explained that a potential solution to the…Read More

Three ​​Republican senators introduced a bill to protect Americans from the “Authoritarian Digital Currencies Act.” Lawmakers in the United States are moving to protect the country from the potential undesirable impacts of the global adoption of China’s national digital currency.Three ​​Republican senators, Tom Cotton, Mike Braun and Marco Rubio, introduced a bill on May 25, aiming to…Read More

Cryptocurrency exchange Binance will assist the government of Kazakhstan in efforts to regulate the country’s crypto space. The global coin trading platform will also help with the integration of the domestic banking system with the expanding digital assets market. Kazakhstan to Cooperate With Binance on the Development of Its Crypto Sector Binance, the world’s leading…Read More

Amid distribution by the “giant” whales of Bitcoin, data shows that smaller ones are still resisting the urge to sell. Bitcoin (BTC) could still see a major price capitulation, but more whales need to start selling first, data suggests.In one of its daily QuickTake market updates on May 27, on-chain analytics platform CryptoQuant highlighted increasingly…Read More

Cryptocurrency regulation in Paraguay is progressing steadily, as a crypto bill introduced in December has been approved by the Chamber of Representatives in the country. The bill, which contains definitions and rules for cryptocurrency mining, one of the hot topics in Paraguay due to the cheap electricity costs, will be passed to the Senate to…Read More

The industry will be able to “tap into future talent” as the partnership sees Judo Bank and Web3 firm Banxa co-creating content, hosting lectures, providing case studies and even giving students access to their networks. Australia’s Swinburne University of Technology has partnered with two financial technology firms which will provide its students exposure to the…Read More

“What we need is not stablecoin boosterism or stablecoin doomerism, but rather a return to principles-based thinking,” Vitalik Buterin emphasized. Ethereum co-founder Vitalik Buterin has shared two thought experiments on how to evaluate whether an algorithmic (algo) stablecoin is sustainable.Buterin’s comments were sparked by the multi-billion dollar losses caused by the collapse of the Terra…Read More

Kalush Orchestra, the winners of the Eurovision Song Contest 2022, are auctioning off an NFT for charity. The auction started May 25 on MetaHistory — the official Ukrainian charitable NFT museum – and will last only until the 28th. Bids will be accepted in both cryptocurrency and fiat currency (via Monobank), thus creating a friendly…Read More

The government in crisis-stricken Sri Lanka has said it will print more money and cut spending on infrastructure as part of an attempt to pacify the restive population. The government, however, concedes that printing more money will likely see the inflation rate rise to 40%. Printing More Money as the Solution After defaulting…Read More

Would-be Twitter owner Elon Musk plans to shake the crypto spammers out of Twitter, disputing claims that fake accounts are only 5% of the total. Spam and bots have been annoying anyone that uses the internet for years, but recently, this digital scourge has ramped up activity in the crypto sector in a big way.Crypto…Read More

JPMorgan expects blockchain use in finance to increase as the crypto sector grows. The global investment bank says, “We want to make sure that we are able to not only support that but also be ready to provide related services.” JPMorgan’s Blockchain Plans JPMorgan Chase & Co foresees increased blockchain usage in traditional finance…Read More

Miller said Bitcoin “functioned without the Fed and without any interference” during times of market turmoil, concluding that “it’s an insurance policy, the way I look at it.” Bill Miller the billionaire founder and chief investment officer of investment firm Miller Value Partners, has said he considers Bitcoin (BTC) an “insurance policy against financial catastrophe.”Appearing…Read More

“What we’ve achieved is the friction-less transfer of collateral assets on an instantaneous basis,” stated JPMorgan’s global head of trading services Ben Challice. Multinational investment bank JPMorgan Chase & Co is reportedly trialing the use of its own private blockchain for collateral settlements. According to Bloomberg, JPMorgan conducted a pilot transaction on May 20, which…Read More

A commissioner with the U.S. Securities and Exchange Commission (SEC) has warned that the securities market regulator has dropped the ball on crypto regulation. “We’re not allowing innovation to develop and experimentation to happen in a healthy way, and there are long-term consequences of that failure,” said the commissioner. SEC Commissioner Warns About the ‘Failure’…Read More

With over 270 million people, Indonesia is the fourth-most populous country in the world and its economy is one of the largest markets in Asia. It also has a large unbanked population, a receptive regulatory environment and additional factors making it stand out for crypto adoption. In the latest episode of the News Podcast we…Read More

The digital currency exchange Huobi Global has revealed it has acquired Bitex, a Latin American crypto platform that operates in Argentina, Chile, Paraguay, and Uruguay. Huobi details that the company is stepping up its presence in Latin America as it believes the region will be one of the most active crypto adoption areas worldwide. Huobi…Read More

ETH dropped below a key support in its USD/BTC pair, but analysts say a bullish trading pattern could eventually spark a sharp trend reversal. The cryptocurrency market was hit with another round of selling on May 26 as Bitcoin (BTC) price dropped to $28,000 and Ether (ETH) briefly fell under $1,800. The ETH/BTC pair also dropped…Read More

Two proposals to tax crypto assets have failed to gain support from Portuguese lawmakers who are now discussing the state budget. The bids came from minority left-wing parties, while the ruling majority is yet to put forward its own draft to regulate the matter. Portuguese Lawmakers Stop Motions to Tax Crypto Gains Members of…Read More

The Fed vice chair told the House Financial Services Committee that a CBDC offers stability, interoperability in increasingly complex economic system. United States Federal Reserve vice chair Lael Brainard submitted a written statement in advance to the Financial Services Committee’s virtual hearing, “On the Benefits and Risks of a U.S. Central Bank Digital Currency (CBDC),”…Read More

Through a peso-backed stablecoin, Tether is basically “recreating forex markets with Tether products,” Ardoino said. Tether’s decision to launch a new digital asset pegged to the Mexican peso will be a boon to crypto adoption in the Latin American country by providing more onramps to the USDT stablecoin, according to Paolo Ardoino. In an exclusive interview…Read More

The stablecoin issuer Tether Operations Limited has announced the company has launched a new fiat-pegged token tied to the value of the Mexican peso. According to the team the newly launched MXNT tokens will be initially hosted on Ethereum, Polygon, and Tron. MXNT Stablecoin Is Pegged 1:1 to the Mexican Peso The stablecoin and…Read More

Looming macroeconomic concerns and this week’s $1B ETH options expiry threaten to pin Ethereum price under the $1,800 support. Ether’s (ETH) performance over the past three months has been less than satisfying for holders and the 50% correction since April 3 caused the altcoin to test the $1,800 support for the first time since July…Read More

SOL price can preserve the bullish bias, however, as its two multi-month support levels converge for the first time. Solana (SOL) dropped on May 26, continuing its decline from the previous day amid a broader retreat across the crypto market.SOL price pennant breakdown underwaySOL price fell by over 13% to around $41.60, its lowest level…Read More

A wick to $28,000 sparks hopes of multi-week highs but caution remains over thin order book liquidity. Bitcoin (BTC) recovered from a major dip at the May 26 Wall Street open as the market quickly exhausted buy support. BTC/USD 1-day candle chart (Bitstamp). Source: TradingViewBitcoin volume surges with more expectedData from Cointelegraph Markets Pro and TradingView showed…Read More

The announcement highlighted that this may spark the launch of more peso-backed stablecoins within the region. Amid market issues surrounding stablecoins, Tether (USDT) launched a new digital asset that will be pegged to the Mexican peso on Ethereum (ETH), Tron (TRX) and Polygon (MATIC) networks. In an announcement sent to Cointelegraph on Thursday, Tether mentioned that…Read More

Stablecoins provide a false sense of security. They give the impression to the uninitiated and/or uncaring that a particular coin is pegged to the U.S. dollar, or an equivalent of the dollar in terms of value and stability, and that if you want to convert your stablecoin to dollars, you can do so easily and…Read More

Millions of people in parts of the world lead limited economic lives, but opportunities to enter the digital economy are coming to many of them. Financial inclusion, accessible services and the unbanked are standard talking points in many conversations about crypto. But, the details may remain somewhat fuzzy — the people who talk about crypto…Read More

The U.S. SEC rejected the application for the ARK 21Shares Bitcoin ETF in early April and has not approved a spot Bitcoin ETF so far. ARK Investment Management, an investment firm founded by veteran investor Cathie Wood, is taking another try to launch a spot Bitcoin (BTC) exchange-traded fund (ETF) in the United States.ARK Invest submitted…Read More

On a Dutch talk show, Christine Lagarde said that crypto is “worth nothing,” as there’s no underlying asset that backs the currencies. The crypto community has fired back at European Central Bank (ECB) President Christine Lagarde for her recent anti-crypto remarks, with people expressing disappointment and even criticizing the euro.As crypto markets show signs of…Read More

Old Fashion Research has been functioning since late 2021, but now officially comes out of the shadows. Multi-strategy blockchain investment fund Old Fashion Research (OFR) has completed its first close. Led by several former executives from Binance, OFR invested in over 50 blockchain projects in its first year.According to an announcement, Old Fashion Research is…Read More

MEXC Global has pledged to carry out a month-long buyback-and-burn to reduce the circulating supply of the old Terra markets. The fall of Terra shook the entire crypto market. However, the project has no plans to stay down, having secured backing from crypto exchanges to help it rebuild. In an announcement on Thursday, Terra provided details…Read More

Michael Miebach, CEO of Mastercard, told an audience of blockchain executives that he expects SWIFT to phase out of existence in as little as five years’ time. Mastercard CEO Michael Miebach said on Tuesday that he does not expect SWIFT, one of the most widely used platforms for cross-border fiat transactions, to exist in five…Read More

Low transaction activity is gathering importance as analysts forecast the return of volatility. Bitcoin (BTC) disappointed bulls on upside prior to the May 26 Wall Street open as BTC/USD returned under $29,000.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewMarkets “eerily calm” post FOMCData from Cointelegraph Markets Pro and TradingView tracked an uninspiring day for Bitcoin, with $800…Read More

A Lego Group vice president believes the Metaverse will be a disruptive force that will change the way people learn things, especially children. The Metaverse and Web3 dominated discussions on the fifth day of the ongoing World Economic Forum (WEF).The panel discussion “The Possibilities of the Metaverse” featured Philip Rosedale, co-founder of High Fidelity; Pascal…Read More

Deepfakes abound! Crypto scammers produce a deepfake video of Elon Musk’s TED talk to prey on unwitting social media users. Tesla CEO Elon Musk distanced himself from yet another fabricated video promoting a cryptocurrency scam.Originally shared on Twitter, the video in question was a deepfake of Musk purportedly promoting a cryptocurrency platform boasting 30% returns…Read More

The Portuguese Minister of Finance had recently declared that cryptocurrencies in the country will soon be subject to capital gains taxes. The Portuguese congress, the Assembleia da Republica, has rejected two bills that would have imposed a tax on cryptocurrencies.Portugal has long been regarded as a cryptocurrency tax haven, and the trading of cryptocurrencies has…Read More

Strong euro and overbought readings could pressure the dollar further, showing signs of topping out — Bitcoin at risk of falling. The United States dollar index (DXY) retreated broadly from its prevailing bull run in the past two weeks, dropping by up to 3.20% after hitting its two-decade high of 105.Overvaluation risks grip dollar marketThe…Read More

“Users will soon find Wormhole integrated into the backend of the Injective Bridge whereby transferring assets from distinct EVM chains or Solana can be done with the click of a button,” Injective Labs stated. Decentralized finance (DeFi) protocol Injective (INJ) has partnered with Wormhole to integrate “10 new blockchains” to its network. Injective is a…Read More

DeFi insurance protocol InsurAce took heat from the community for suddenly shortening its claims period for Terra-related insurance claims, but is already set to pay out $11 million to claimants. DeFi insurance protocol InsurAce says it was well within its rights to reduce the claims period for people affected by the Terra USD (UST) depeg…Read More

The World Bank has said “it will be physically impossible” for the lender to fund the planned Sango crypto hub and voiced concerns regarding the country’s adoption of Bitcoin. The World Bank has signaled its concerns over the Central African Republic (CAR) adopting Bitcoin (BTC) as a legal currency and says it won’t support the…Read More