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 kind of association with the DeFi ecosystem have seen their prices hammered. The forced selling of the Bitcoin (BTC) holdings backing a portion of UST also influenced
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 (CFTC) chairman Rostin Behnam were both featured as keynote speakers at the event, with Behnam speaking at the morning session, and Gensler in the
Economist Nouriel Roubini, a crypto skeptic known as “Dr. Doom,” is developing a tokenized asset intended to be a more resilient U.S. dollar. “Our goal is to create a global store of value … This is something akin to a substitute for Treasuries, or a digital asset that has payment features in it.” Nouriel Roubini’s
Avalanche (AVAX) is paying the price for being one of the collateral assets that maintain Terra’s native stablecoin TerraUSD’s (UST) peg with the U.S. dollar. Major AVAX dump ahead? AVAX’s price dropped about 30% to reach $32.50 on May 11, its lowest level since September 2021. Its massive intraday decline coincided with UST dropping to
Bitcoin (BTC) bounced back from ten-month lows on May 11 as the start of Wall Street trading gave bulls some relief. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView One day, $860 million more crypto liquidations Data from Cointelegraph Markets Pro and TradingView showed BTC/USD erasing the impact of above-expectation United States inflation data, hitting $32,000 on
Panic appeared to set in on crypto markets overnight on May 11 as Blockchain protocol Terra failed to steady its bleeding cryptoassets. Data from Cointelegraph Markets Pro and TradingView showed both the firm’s in-house token, LUNA and stablecoin, TerraUSD (UST) seeing fresh heavy losses on the day. A dubious new “all-time high” for Bitcoin After
Just three days after debuting in the Indian market, United States-based crypto exchange Coinbase abruptly stopped using United Payments Interface (UPI), the most popular payment service in the region. Coinbase CEO Brian Armstrong later revealed that the service disruption was due to an “informal pressure” from India’s central bank. During Coinbase’s 2022 Quarterly Earnings call,
As I go about the Miami conference, I wonder, Aside from some of the conference speakers, where are these Bitcoin maximalists I keep hearing so much about? When I tell the customs official I’m going to Miami for the Bitcoin 2022 conference, there seems to be a light in the man’s eyes. He peppers me
Townsquare Media, a New York based digital marketing and radio station company is the latest business to back the original cryptocurrency with its addition of $5 million worth of Bitcoin (BTC) to its balance sheet. A filing with the Securities and Exchange Commission (SEC) disclosing Townsquare’s purchase of Bitcoin was first picked up by Macroscope,
As the crypto community still tries to decipher Terra’s ongoing pegging-de-pegging fiasco in relation to its stablecoin offering TerraUSD (UST), major crypto exchange Binance temporarily suspended the withdrawals for Terra (LUNA) and UST on Tuesday. The market value of UST, Terra’s stablecoin offering, recently fell below the expected $1.00 price point as LUNA’s price witnessed
United States Secretary of the Treasury Janet Yellen called on U.S. lawmakers to develop a “consistent federal framework” on stablecoins to address risks to financial stability. In a Tuesday hearing of the Senate Banking Committee on the Financial Stability Oversight Council Annual Report to Congress, Yellen reiterated her previous position calling for a regulatory framework
United24, a new fundraising platform announced recently by Ukrainian President Volodymyr Zelenskyy, accepts a number of cryptocurrencies, alongside traditional payment methods. The initiative also permits donors to choose how their money will be spent. Kyiv Launches New Platform for Donations Amid Ongoing War With Russia Ukraine, which has been increasingly relying on foreign donations to
A Russian independent news company has raised more than US$250,000 in cryptocurrency donations from supporters in order to continue reporting independent news under a barrage of Russian government propaganda and censorship. Meduza, a Latvian-based Russian-language news site that claims to report on “the real Russia, today” has been asking for donations since March in the
The VeChain Foundation has released its financial report for Q1 2022 showing that the project amassed an impressive $1.2 billion war chest but only spent about $4.1 million in the quarter. VeChain (VET) is a blockchain project designed to enhance supply chain management.. The Foundation’s May 10 financial report for Q1 2022 outlines its balance
“When it rains, it pours” is an old saying finding new relevance in the cryptocurrency markets on May 9 as traders face another day of pain and the current price decline brings Bitcoin (BTC) to its lowest level in 2022. Data from Cointelegraph Markets Pro and TradingView shows that the BTC selloff on May 9
“The Market Report” with Cointelegraph is live right now. On this week’s show, Cointelegraph’s resident experts discuss the social tokens you should be keeping a close eye on. But first, market expert Marcel Pechman carefully examines the Bitcoin (BTC) and Ether (ETH) markets. Are the current market conditions bullish or bearish? What is the outlook