Cryptonews

Cryptonews


AMC Calls Crypto Adoption a ‘Massive Home Run,’ but Wary of Regulatory Challenges of Coin Issuance

Posted: 11 May 2022 12:00 PM PDT

 
The American entertainment industry giant AMC Entertainment Holdings has expanded on its crypto and non-fungible token (NFT) plans – claiming that it has "eight different NFT programs that either already have been launched or are in the works," but adding that it will only press ahead with its plans to issue a cryptoasset of its own if it can stay "on the right side of the law."...
Read More: AMC Calls Crypto Adoption a 'Massive Home Run,' but Wary of Regulatory Challenges of Coin Issuance

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Crypto Market Dives – and Rebounds – Following UST De-Peg, US Inflation Report

Posted: 11 May 2022 08:43 AM PDT

 
Bitcoin (BTC), ethereum (ETH), and the broader crypto market experienced a sharp correction today after the terraUSD (UST) stablecoin collapsed, and an inflation report in the US revealed higher-than-expected price rises. However, prices later turned around, marking a strong recovery for the major cryptoassets.
As of 15:20 UTC, BTC traded at USD 31,459, up more than 1% over the past 24 hours and down 17% for the past 7 days.
BTC past 14 days:...
Read More: Crypto Market Dives – and Rebounds – Following UST De-Peg, US Inflation Report

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Good News for German Crypto Investors, Spot Trading Increased in April + More News

Posted: 11 May 2022 08:16 AM PDT

 
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today's crypto news.
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Read More: Good News for German Crypto Investors, Spot Trading Increased in April + More News

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Do Kwon's USD 1M Bet Doesn't Look Good as LUNA Crashes

Posted: 11 May 2022 07:44 AM PDT

 
Do Kwon, co-founder and CEO of Terraform Labs, the entity behind Terra (LUNA), found himself in a peculiar position with his bet that LUNA would stay above USD 88 - as the coin dropped over 90% in a single day.
In mid-March, Do Kwon took a bet with pseudonymous Twitter user Sensei Algod, a self-proclaimed "semi retired degen," on whether LUNA would be above USD 88 by mid-March 2023. Each risked USD 1m on the bet....
Read More: Do Kwon's USD 1M Bet Doesn't Look Good as LUNA Crashes

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Sales of Blue-Chip NFTs Plunge Amid Crypto Market Crash

Posted: 11 May 2022 06:22 AM PDT

 
Sales of blue-chip non-fungible token (NFT) collections Bored Ape Yacht Club (BAYC) and Otherdeed have taken a plunge amid a broader crash in the crypto market.
BAYC's sales have fallen by nearly 39% over the past week, dropping to USD 72.5m. The collection's floor price has also taken a hit, dropping to ETH 94 (229,050), a decline of more than 18%, according to NFT data aggregator CryptoSlam....
Read More: Sales of Blue-Chip NFTs Plunge Amid Crypto Market Crash

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US Inflation Surpasses Expectations, Bitcoin and Ethereum in Rollercoaster Mode

Posted: 11 May 2022 05:34 AM PDT

 
US inflation hit 8.3% in April, down from a peak of 8.5% the month before, but still above expectations, new data from the US Bureau of Labor Statistics show. Right after the release, a sharp and short-lived correction across the crypto market started....
Read More: US Inflation Surpasses Expectations, Bitcoin and Ethereum in Rollercoaster Mode

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Bitcoin and Ethereum Fluctuate, LUNA Down 94%, MKR Rallies

Posted: 11 May 2022 05:02 AM PDT

 
Bitcoin price settled above the USD 31,500 level. However, BTC is still facing a strong resistance above USD 32,000 and near USD 32,500. It is currently (11:48 UTC) consolidating near USD 31,600 and is almost unchanged in a day and down 16% in a week.
Similarly, most major altcoins are looking for direction. ETH is eyeing an upside break above USD 2,450. XRP failed to stay above USD 0.50. ADA struggles to reach USD 0.65.
Total market capitalization...
Read More: Bitcoin and Ethereum Fluctuate, LUNA Down 94%, MKR Rallies

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US SEC Chair Worries 'Commingling' by Crypto Exchanges Could Endanger Clients’ Assets

Posted: 11 May 2022 03:58 AM PDT

 
Cryptoasset exchanges are not placing walls between respective parts of their activities, such as trading, custody, and marketing services, which could lead to the "commingling" of their activities, and put their clients' interests in jeopardy, according to Garry Gensler, Chair of the U.S. Securities and Exchange Commission (SEC). The official also indicated that his agency is looking into the ties between the leading stablecoins and major exchanges....
Read More: US SEC Chair Worries 'Commingling' by Crypto Exchanges Could Endanger Clients' Assets

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After a Rough First Quarter, Coinbase Expects This One to Be Even Slower

Posted: 11 May 2022 01:56 AM PDT

 
The crypto exchange giant Coinbase is bracing for a slow second financial quarter – noting that crypto volatility and prices slumped last month – forecasting a drop in users and trading volume to continue into FY2022 Q2.
In its latest letter to shareholders, the company revealed that trading volumes had fallen by 44% in the first quarter, posting worse-than-expected earnings....
Read More: After a Rough First Quarter, Coinbase Expects This One to Be Even Slower

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Terra's Do Kwon Floats Ideas to Save UST as LUNA's Collapse Continues

Posted: 11 May 2022 01:14 AM PDT

 
Terra (LUNA) founder Do Kwon on Wednesday finally took to Twitter again, floating ideas for how the algorithmic stablecoin terraUSD (UST) can be saved after losing its US dollar peg on Monday. (Updated at 10:51 UTC: updates throughout the entire text.)...
Read More: Terra's Do Kwon Floats Ideas to Save UST as LUNA's Collapse Continues

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New Coinbase Disclosure Reminds Bitcoin & Crypto Owners: 'Not your Keys, Not your Coins'

Posted: 11 May 2022 12:51 AM PDT

 
Major crypto exchange Coinbase has issued a new disclosure regarding the legal claims of retail users in the event of a bankruptcy event.
In simple words, the disclosure to the US Securities and Exchange Commission (SEC) declared that Coinbase would have the right to hold crypto assets of its retail users as property of the bankruptcy estate, should the company file for bankruptcy....
Read More: New Coinbase Disclosure Reminds Bitcoin & Crypto Owners: 'Not your Keys, Not your Coins'

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