Two of the world’s major investment banks, Goldman Sachs and Barclays, recently participated in a $70 million Series A funding round for Elwood Technologies, the crypto trading platform founded by British hedge fund billionaire Alan Howard. Goldman Sachs and Barclays Invest in Elwood According to a Sunday report by the Financial Times, this funding round...Read More
Ben Bernanke – former chairman of the U.S. Federal Reserve – does not believe Bitcoin or other cryptocurrencies can succeed as an alternative money. He claims their prices are too volatile to serve as a practical means of exchange and lack the underlying use cases to serve as stores of value. Bitcoin is for Criminals,...Read More
The crypto economy was under complete volatility for the past few weeks, but the space faced had the worst one after one of the largest stablecoins, TerraUSD (UST) de-pegged from its $1 value. After UST de-pegged, Do Kwon, the founder of Terraform Labs, shared an update regarding the rescue plan wherein he said the investors...Read More
Terra co-founder Do Kwon has unveiled a detailed plan to hard fork Terra and revive the network’s ecosystem. It will involve abandoning its algorithmic stablecoin, and launching a new cryptocurrency to replace its old governance token, LUNA. The proposal is a follow-up to Kwon’s informal plan he posted last week, in which he admitted that...Read More
The catastrophic failure of Terra’s algorithmic stablecoin, TerraUSD (UST), last week exacerbated the chaos in the crypto industry and accelerated plans to regulate the stablecoins market. Following the market meltdown, global financial regulators started proposing different legislations to regulate stablecoins better and prevent similar incidents from occurring in the future. UK to Legalize and Regulate...Read More
The Australian Taxation Office (ATO) announced Monday that it will focus on digital assets this year as it expects to see more Aussies report capital gains or losses in their tax returns. Aussies Are Engaging With Crypto The tax regulator treats crypto assets as digital property, hence Aussies who sell their digital assets, including non-fungible...Read More
Portugal’s Finance Minister Fernando Medina has confirmed plans to apply capital gains taxes on cryptocurrency profits. Though he has not committed to a specific date, he stressed that there can no longer be gaps within the tax system around transactions involving digital assets. Ending the Tax Haven? Cryptocurrencies are currently subject to very few tax...Read More
After UST de-pegged on May 9th, causing a cascade effect of billions of LUNA minted, the Luna Foundation Guard disclosed what happened precisely to their reserves which were meant to stabilize UST, keeping it pegged to USD. Let’s look at LUNA and UST and any related news this morning. Luna Foundation Sells Over $3 Billion...Read More
After buying the dip and adding 500 BTCs to the state coffer, El Salvador President Nayib Bukele has another surprise up his sleeves. The country is organizing an international conference of central bank representatives today, Bukele announced less than 24 hours before the event. El Salvador’s Conference of Central Banks El Salvador will host an...Read More
The markets appear to have been trying very hard to be stabilized at the earliest as the LUNA foundation FUD appears to have eased out. And hence, the crypto space is expected to recover slowly yet steadily. As LFG released a statement documenting its actual holdings, the markets witnessed a sign of relief. Therefore as...Read More
Indian regulators are making the rulebook tough for celebrity endorsement of crypto products. The Securities and Exchange Board of India (SEBI) has advised prominent public personalities, including celebrities and sportsmen, to refrain from endorsing anything related to the digital asset industry. SEBI’s stance is based on the logic that crypto products are not regulated in...Read More
The world’s largest digital asset manager – Grayscale – will reportedly launch an exchange-traded fund in Europe. The product, tracking the “Bloomberg Grayscale Future of Finance Index,” will go live in the UK, Germany, and Italy. Grayscale’s First ETF in Europe A few weeks ago, CEO – Michael Sonnenshein – disclosed that the company seeks...Read More
[PRESS RELEASE – Please Read Disclaimer] Got used to enriching with tokens while sitting indoors all alone? Forgot what the fresh air is? Can hardly remember the last time you were running? Imagine that you receive the perfect chance to manage your NFTs and earn tokens by such non-trivial things as walking or jogging. Ain’t...Read More
[PRESS RELEASE – Please Read Disclaimer] Apart from rewarding stakers and providing a place for trading NFTs, the project seeks to address some of the major limitations of the NFT industry. Mainly, it seeks to boost liquidity and trading capabilities, which is why it is gaining traction fast. The Howling Wolves theme The Howling Wolves...Read More
New week, new listings. Users will soon be able to trade our new XBT- and USDT-margined Project Galaxy (GAL) and Tron (TRX) listings, and XBT-margined ApeCoin (APE) perpetual contract – all with up to 33x leverage.GALUSD, GALUSDT, TRXUSD, TRXUSDT, and APEUSD will go live on 19 May 2022 at 04:00 UTC, and will be visible...Read More
BitMEX has extended Gleb Naumenko’s Bitcoin developer grant until November 2022, a six month extension from the previous grant, which expires at the end of this month. We have financially supported Gleb since June 2020 and we are delighted to continue to support his work and research. Gleb is based in Ukraine and focuses his...Read More
The recent turmoil in the crypto space has hampered many assets largely, mainly Bitcoin which was on its way to hitting $44,000. However, the recent collapse has compelled the price to remain restricted below $30,000. Interestingly, the BTC price rally in the upcoming days is expected to remain restricted within small braces. And hence if...Read More
Though Bitcoin touched the 30,000 level after days of violent dumps befalling the crypto market, a large portion of investors have since then remained underwater. The recent market selloff led by Terra and its two native cryptocurrencies plummeting in value has at one point wiped out the crypto market’s total gains attained from 2021. But...Read More
