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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...
Portugal to Tax Cryptocurrency Income According to Minister of Finance
17.5.2022
Portugal, one of the countries considered a crypto tax haven due to its absence of crypto-related taxation, is preparing to change this policy. Fernando Medina, minister of finance of Portugal, stated that the country is working on a framework to allow the taxation of cryptocurrency income gains...
Indian Regulator SEBI Proposes Banning Public Figures From Endorsing Crypto Products
17.5.2022
The Securities and Exchange Board of India (SEBI) has reportedly proposed banning public figures, including celebrities and sportsmen, from advertising and endorsing crypto products. The regulator also proposed that public figures be held liable for any law violations when promoting crypto...
Iran Blocks 9,200 Bank Accounts Over Suspicious Foreign Currency, Crypto Transactions
17.5.2022
Iran’s Ministry of Intelligence has reportedly blocked almost 10,000 bank accounts over suspicious foreign currency and cryptocurrency transactions. The action was carried out in collaboration with the country’s central bank. 9,219 Bank Accounts Blocked Iran’s Ministry...
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.”...
Grayscale Launches European ETF While Urging SEC to Approve GBTC Conversion Into Spot Bitcoin ETF
17.5.2022
Grayscale Investments has announced the launch of an exchange-traded fund (ETF) in Europe. The company’s Future of Finance UCITS ETF will list on the London Stock Exchange (LSE), Borsa Italiana, and Deutsche Börse Xetra. Grayscale Launches ETF in Europe Grayscale Investments,...
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,...
Finder’s Poll Conducted Weeks Before Terra’s Fallout Predicted LUNA Would Tap $143 This Year
16.5.2022
Just recently, the product comparison platform finder․com polled 36 fintech specialists about the cryptocurrency terra (LUNA) before terrausd (UST) lost its parity with the U.S. dollar. According to the poll, Finder’s experts predicted LUNA would be $143 before the end of the year....
CZ Says Binance Supports Proposal to Compensate LUNA Retail Users First
16.5.2022
Binance’s Changpeng Zhao (CZ) has said the exchange supports the proposal to compensate retail LUNA users ahead of larger investors. He also said the LUNA tokens received by Binance in exchange for a $3 million investment in Terra have not been sold or moved. Binance’s LUNA Tokens...
Biggest Movers: XMR and SOL Higher on Monday
16.5.2022
Despite BTC and ETH trading lower on Monday, several cryptocurrencies managed to move higher to start the week. XMR was one of the biggest climbers, with solana also moving higher during the session. Monero (XMR) XMR was one of Monday’s biggest gainers, as prices rose by almost $20 from lows...
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...
Bitcoin, Ethereum Technical Analysis: BTC Below $30,000 to Start the Week
16.5.2022
Following a volatile weekend of trading, cryptocurrency prices consolidated to start the week, with BTC close to its long-term floor. Overall, bitcoin was trading marginally below $30,000, with ETH hovering slightly above $2,000. Bitcoin BTC started the week trading below $30,000 following...
David Marcus Launches Bitcoin Payments Startup Lightspark
16.5.2022
David Marcus, former cryptocurrency head at Meta, is launching Lightspark, another payments company that will use crypto as its central payment tool. The startup, which will have Marcus at the helm as CEO, also features some of Meta’s former employees and will explore the possibilities...
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
Luna Foundation Guard Left With 313 Bitcoin After UST Crash
16.5.2022
The Luna Foundation Guard (LFG), official stewards of Terra’s bitcoin reserves, released a statement today documenting how they disbursed millions of dollars worth of crypto in defense of failed UST stabelcoin’s $1 peg
Tezos Foundation Launches Fund to Collect NFT Creations by African and Asian Artists
16.5.2022
The Tezos Foundation recently said it has committed $1.23 million to a fund that will be used to collect non-fungible tokens (NFTs) created by African and Asian artists. Photographer Misan Harriman has been selected as the curator of the foundation’s permanent art collection. Supporting...
Turkish Referee Flips Bitcoin at Istanbul Derby Kick-Off, Soccer Authority Launches Probe
16.5.2022
A soccer referee’s decision to toss a bitcoin before the start of a recent match between Istanbul giants Beşiktaş and Fenerbahçe has sparked controversy in Turkey. The country’s football authority is trying to establish why a crypto coin was used for the ritual when...
UK Affirms Commitment to Regulate Stablecoins Following Terra Meltdown
16.5.2022
The British Treasury Department has affirmed its commitment to regulate stablecoins after the collapse of terrausd (UST) and terra (LUNA). “This will create the conditions for issuers and service providers to operate and grow in the U.K., whilst ensuring financial stability and high...
Veteran Investor Bill Miller Remains Bullish on Bitcoin — Confirms He Has a Lot of BTC
16.5.2022
Famed value investor and fund manager Bill Miller says he has “a lot” of bitcoin and has not sold any despite the recent crypto sell-off. He insisted that investors should put some of their liquid net worth in the cryptocurrency. Bill Miller Shares His Bitcoin Outlook Famed value...
Goldman Sachs’ Blankfein Advises Companies and Consumers to Prepare for US Recession — Says It’s a ‘Very, Very High Risk’
16.5.2022
Goldman Sachs Senior Chairman and former CEO Lloyd Blankfein has warned that companies and consumers should prepare for a recession in the U.S. He stressed that it’s a “very, very, high risk.” Goldman’s Blankfein Warns About a Recession Lloyd Blankfein, a former Goldman...