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Bitcoin․com Exchange Market Insights Report for May 2022

17.5.2022
This is the May 2022 monthly market insights report by Bitcoin.com Exchange. In this and subsequent reports, expect to find a summary of crypto market performance, a macro recap, market structure analysis, and more. Crypto Market Performance May got off to a rough start as the Federal Reserve...

Luna Foundation Guard Discloses Usage of Bitcoin Reserves

17.5.2022
The Luna Foundation Guard, the entity in charge of safeguarding the peg of UST, the stablecoin of the Terra ecosystem, has revealed how it used the available Bitcoin reserve before the recent debacle involving the Terra ecosystem. The organization sold part of the bitcoins owned directly, while...

RBI warns of crypto 'dollarization' of Indian economy

17.5.2022
Crypto "will seriously undermine the RBI's capacity to determine monetary policy and regulate the monetary system of the country," according to Reserve Bank of India officials

Former Fed Chair Bernanke: Bitcoin Is Mainly Used in Underground Economy for Illicit Activities

17.5.2022
Former Federal Reserve chairman Ben Bernanke says the main use of bitcoin is “mostly for underground economy activities and often things that are illegal or illicit.” He added, “I don’t think bitcoin is going to take over as an alternative form of money.”...

China Backed Publication: Terra LUNA Crash Vindicates Country’s Ban on Crypto-Related Activities

16.5.2022
An op-ed article published in the state-backed Chinese publication Economic Daily, has suggested that the recent crash of the Terra blockchain’s LUNA and the de-pegging of the UST stablecoin vindicate the Asian country’s decision to ban crypto-related activities. In the article,...

Circle Says USDC Reserve Backed Entirely in Cash and Short-Dated US Treasuries

16.5.2022
On May 13, Circle’s chief financial officer Jeremy Fox-Geen published a blog post called “How to Be Stable,” following the aftermath of Terra’s stablecoin implosion. Circle’s CFO explained that since usd coin’s inception, the stablecoin aims to...

80,000 Bitcoin gone: What’s left in Luna’s reserve wallet?

16.5.2022
The Luna Foundation Guard updates the world concerning its crypto-asset reserves and shares a promise to compensate the remaining users of failed stablecoin UST

Tron DAO Reserve Acquires Millions in TRX, Bitcoin, and Tether to Safeguard USDD

16.5.2022
Seven days ago, Bitcoin.com News reported on the Tron DAO Reserve purchasing $38 million in tron to safeguard the network’s stablecoin USDD. Since then and since the terrausd (UST) de-pegging event, the Tron DAO Reserve has continued to purchase large quantities of digital assets to bolster...

What Happened to the $3.5B Terra Reserve?

14.5.2022

Nomura's Bitcoin OTC, Prosecutors vs. Arthur Hayes, Tether's Reserves + More News

13.5.2022
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.______... Read More: Nomura's Bitcoin OTC, Prosecutors vs. Arthur Hayes, Tether's Reserves + More News

US Senate confirms Jerome Powell for another four years as Fed chair

12.5.2022
In a 80–19 vote in the Senate, U.S. lawmakers confirmed Jerome Powell as the next chair of the Federal Reserve System, where he will also serve as a board member until 2028

How long will the crypto bear market last? Raoul Pal's macro analysis

12.5.2022
In an exclusive interview with Cointelegraph, macro investor Raoul Pal analyzes the macro factors that are keeping the crypto markets under pressure and the triggers that could spark the next Bitcoin rally

Ethereum plunges 13% vs. Bitcoin pushing BTC dominance to 2022 high — more pain ahead?

12.5.2022
Bitcoin dominance has spiked to six-month highs at Ethereum's expense as ETH/BTC suffers big losses

Crypto Exchange Coinbase Halts Service in India Due to ‘Informal Pressure’ From Central Bank RBI

12.5.2022
The Nasdaq-listed cryptocurrency exchange Coinbase has revealed that it halted operation in India a few days after launch due to “informal pressure” from the country’s central bank, the Reserve Bank of India (RBI), says CEO Brian Armstrong. Coinbase Shares Experience in India...

Indian central bank’s 'informal pressure' disrupted payments: Coinbase CEO

11.5.2022
"I guess we have a concern that [the Reserve Bank of India] may be actually in violation of the Supreme Court ruling," said Coinbase CEO Brian Armstrong

US Lawmakers Push for Urgent Stablecoin Regulation — Fed Warns of Stablecoin Runs, Janet Yellen Cites UST Fiasco

11.5.2022
As U.S. lawmakers push for the urgent regulation of stablecoins, the Financial Stability Oversight Council (FSOC) and the Federal Reserve Board warn about the risks of stablecoin runs that threaten the country’s financial stability. Treasury Secretary Janet Yellen brought up the terrausd...