Cryptonews

Cryptonews


Analysts Divided on Near-Term Bitcoin & Crypto Outlook as Market Stabilizes

Posted: 19 May 2022 10:00 AM PDT

 
With the Bitcoin (BTC) and crypto market appearing to stabilize after last week's brutal crash caused by the collapse of Terra (LUNA), analysts are offering their takes on where the market may be headed next. And as usual, opinions are divided, with some predicting the bear market is "complete," and others arguing that we are still "early in the Fed's tightening cycle."...
Read More: Analysts Divided on Near-Term Bitcoin & Crypto Outlook as Market Stabilizes

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Terra Honeypot Scam, Blocked Bored Ape NFT Sale, FTX Offers Stocks + More News

Posted: 19 May 2022 09:30 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: Terra Honeypot Scam, Blocked Bored Ape NFT Sale, FTX Offers Stocks + More News

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Bitcoin Tests USD 30K, Ethereum at USD 2K, Altcoins Move Higher

Posted: 19 May 2022 08:55 AM PDT

 
Bitcoin has held the key support level at USD 29,000 throughout the day, with more gains now likely as the coin tests resistance at the USD 30,000 level. As of 15:44 UTC, the number one cryptocurrency traded at USD 30,330, up almost 5% for the past 24 hours and 5% for the past 7 days.
At the same time, most altcoins are also inching higher. 
Total market capitalization...
Read More: Bitcoin Tests USD 30K, Ethereum at USD 2K, Altcoins Move Higher

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Russia to Legalize Crypto for Payments 'In Some Format or Other' - Minister

Posted: 19 May 2022 07:03 AM PDT

 
As Russia's brutal invasion of Ukraine continues to weigh on the Russian economy, Moscow will sooner or later decide to legalize cryptoassets as a means of payment, as indicated by the country's Industry and Trade Minister Denis Manturov. 
The official stated that the government is advancing towards reaching an understanding with the Central Bank of the Russian Federation which has in the past demonstrated a reluctant stance on crypto. ...
Read More: Russia to Legalize Crypto for Payments 'In Some Format or Other' - Minister

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Block Expects Bitcoin To Disrupt Legacy Payments, Boost Its Business

Posted: 19 May 2022 05:14 AM PDT

 
Fueled by the ongoing expansion of the Lightning Network, bitcoin (BTC) has the potential to disrupt the existing legacy payment networks the world over -- and Block, the payments company formerly known as Square, hopes to use the cryptocurrency to boost its presence across the globe. ...
Read More: Block Expects Bitcoin To Disrupt Legacy Payments, Boost Its Business

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A Curious Coincidence – Major Terra Backers Break Silence on Same Day

Posted: 19 May 2022 04:30 AM PDT

 
Several major backers of Terra (LUNA) and its failed algorithmic stablecoin terraUSD (UST) spoke out about last week's dramatic events this Wednesday, after staying largely silent since the collapse happened 10 days ago. On the same day, Do Kwon's plan for a new Terra blockchain was put to vote....
Read More: A Curious Coincidence – Major Terra Backers Break Silence on Same Day

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Trademark Applications Suggest Meta May Launch Crypto Platform

Posted: 19 May 2022 03:50 AM PDT

 
Technology giant Meta, previously Facebook, has filed five trademark applications for a digital payments platform dubbed 'Meta Pay'.
According to records submitted to the United States Patent and Trademark Office (USPTO), Meta filed five new trademark applications on May 13, which echo its future plans for a payment platform where users can exchange all forms of currencies....
Read More: Trademark Applications Suggest Meta May Launch Crypto Platform

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Tether in the Spotlight After USD 9B Worth of Redemptions

Posted: 19 May 2022 02:54 AM PDT

 
The popular stablecoin tether (USDT) is again the subject of unwanted attention after approximately USD 9bn has been redeemed for US dollars by users in the aftermath of the terraUSD (UST) collapse....
Read More: Tether in the Spotlight After USD 9B Worth of Redemptions

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South Korean LUNA Buying Skyrockets, Token Trading at Huge Premium on Domestic Exchanges

Posted: 19 May 2022 02:09 AM PDT

 
While some furious South Korean crypto investors are readying multiple lawsuits for Do Kwon and the masterminds of the troubled terra (LUNA) protocol, others in the country are snapping up LUNA tokens at rock-bottom prices – even though the coin is currently being delisted from most major exchanges in the country....
Read More: South Korean LUNA Buying Skyrockets, Token Trading at Huge Premium on Domestic Exchanges

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Ethereum's Ropsten Testnet to 'Merge' Next Month in Preparation for Proof-of-Stake

Posted: 19 May 2022 12:53 AM PDT

 
Ethereum (ETH)'s Ropsten public testnet, which allows for blockchain development testing before deployment on the mainnet, is estimated to undergo "the Merge" on June 8 in preparation for the main Ethereum blockchain to switch to proof-of-stake (PoS) consensus.
Ethereum DevOps engineer Parathi Jayanathi submitted a pull request for the Ropsten testnet Merge configuration code on Monday, which suggests that the code is ready to be implemented....
Read More: Ethereum's Ropsten Testnet to 'Merge' Next Month in Preparation for Proof-of-Stake

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Bitcoin and Ethereum Trend Lower, Altcoins Slide, AXS Moves Higher

Posted: 18 May 2022 09:18 PM PDT

 
Bitcoin price failed to start another increase, extended decline below USD 29,000, and even tested the USD 28,550 support zone before recovering. It is currently (04:05 UTC) consolidating losses near USD 29,200 and is down 2% in a day and up 1% in a week....
Read More: Bitcoin and Ethereum Trend Lower, Altcoins Slide, AXS Moves Higher

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Coinbase Bets On 'Enterprise-Grade' Liquid Staking Business

Posted: 18 May 2022 05:00 PM PDT

 
Major US-based crypto exchange Coinbase is backing the development of the "first-ever" enterprise-grade liquid staking protocol, bringing know-your-customer (KYC) checks to the world of decentralized finance (DeFi).
According to an announcement from Coinbase on Tuesday, the new liquid staking protocol is being developed by Alluvial, a development firm made up of people with experience from various DeFi-related projects....
Read More: Coinbase Bets On 'Enterprise-Grade' Liquid Staking Business

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Ethereum Leads in Web3, but Multiple Winners Possible – a16z Report

Posted: 18 May 2022 01:00 PM PDT

 
Ethereum (ETH), the second most valuable blockchain network in the world, still dominates the Web3 landscape due to its early start, although other blockchains such as Solana (SOL) are trying to catch up, a new report from venture capital giant Andreessen Horowitz (a16z) has said....
Read More: Ethereum Leads in Web3, but Multiple Winners Possible – a16z Report

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From Silence to Humbling Hell - Major Terra Backers Keep Low Profile as the Small Guy Is 'the Biggest Loser'

Posted: 18 May 2022 11:00 AM PDT

 
Major Terra (LUNA) backer Mike Novogratz of Galaxy Digital is still largely silent on the downfall of LUNA and the terraUSD (UST) algorithmic stablecoin, while some other institutional investors have put out vague statements that called the incident "hell for our entire community" and "incredibly humbling."...
Read More: From Silence to Humbling Hell - Major Terra Backers Keep Low Profile as the Small Guy Is 'the Biggest Loser'

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Legal Storm Brewing for Terra's Do Kwon & Co as ‘Hundreds’ of Investors Ready Complaints

Posted: 18 May 2022 09:30 AM PDT

 
Another headache appears to be incoming for Do Kwon (full name Kwon Do-hyeong) and his company Terraform Labs – with investors in South Korea ready to wage a legal battle against the CEO.
Munhwa Ilbo reported that as many as three separate legal cases are now being mounted – each involving hundred of South Korean investors....
Read More: Legal Storm Brewing for Terra's Do Kwon & Co as 'Hundreds' of Investors Ready Complaints

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G7 to Discuss Crypto, Aave's Lens Protocol Goes Live, Terra's Team Shrinks + More News

Posted: 18 May 2022 08:41 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: G7 to Discuss Crypto, Aave's Lens Protocol Goes Live, Terra's Team Shrinks + More News

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