📈New LUNA Token Rises, Still Down 65% After Launch

View in browser May 30, 2022 Happy Monday!  We're still tracking the New Luna launch, MoneyGram supporting stablecoin transfers. And plenty more news to get your week rolling! Markets - Change 24hr Source: CoinMarketCap.com New LUNA Token Rises, Still Down 65% After Launch The new Terra (LUNA) blockchain went live on Saturday, with the newly airdropped LUNA token seeing extremely volatile trading on its first day, before stabilizing and gaining some ground later in the weekend. Despite having become a controversial project, the new LUNA token can already be traded on a number of large exchanges. The first exchange to make the new token available for trading on Saturday was Bybit, which announced that markets were open around 10 minutes after the airdrop. The exchange was followed by Kucoin about an hour later. Confronted with why Kraken listed the new LUNA token after seeing what happened with the old one, the exchange's CEO, Jesse Powell, said on Sunday that exchanges need to respond to "client demand," and stressed that a listing "isn't an endorsement." "We're here to run a marketplace, facilitate price discovery, not pick winners and losers," As of Monday at 10:25 UTC, LUNA traded at USD 6.20, up several percents in a day and down 65% in two days, per Coingecko. Read more... MoneyGram to Support Transfers Via Stablecoins Major money transfer company MoneyGram aims to launch a new service that would enable users to transfer money overseas via stablecoins. The initiative comes in partnership with the Stellar (XLM) blockchain, a decentralized protocol specializing in cross-border transactions, and it would enable users to convert their stablecoins to hard currency in MoneyGram agent locations, according to a recent report by Bloomberg. "The world of crypto and the world of fiat are not really compatible today," MoneyGram CEO Alex Holmes is quoted as saying. "We're trying to be a bridge from the crypto world to the fiat world." Prior to working with Stellar, MoneyGram had a partnership with major remittance network Ripple. Signed in 2019, the partnership allowed MoneyGram to use Ripple's product for cross-border payment and foreign exchange settlement. However, after the SEC filed a complaint against Ripple, alleging that it had been engaged in illegal security offering through sales of XRP, MoneyGram was also slapped with a lawsuit regarding the legal status of the XRP token. Consequently, MoneyGram ended its partnership with Ripple. Still, MoneyGram said its support for Ripple would remain in place.  Read more... Cryptonews Podcast #130: Ganesh Swami on Granular Historical Data, Covalent and NFTs Ganesh Swami is a serial entrepreneur, adventurer, and speaker. He is currently the co-founder and CEO of Covalent – a venture-funded blockchain data analytics startup based out of Vancouver, BC. His current focus with Covalent is to solve problems inhibiting blockchain's mainstream adoption. He started his career in building protein simulation algorithms to solve cancer. In this conversation, we discuss: - Building protein simulation algorithms to solve cancer - How P2E games are becoming such a hot topic and what we found in our analysis - Why people need granular, historical data, and how accessible they are - How developers and analysts can use our Unified API for free, without coding - How Covalent help with TAX seasons - What is on-chain analysis, why do people need them - Granular, historical data, and how accessible they are - What are some of the challenges that the current data space is facing? Data compostability and verifiability - How P2E games are becoming such a hot topic and what we found in our analysis - How developers and analysts can use our Unified API for free, without coding - $25mil in funding to data verification space Tune In! Promotion Deposit fiat currencies via Advcash and Trade to Win a Share of 150,000 USDT! We are pleased to announce the launch of the 'Buy USDT via VISA/MasterCard' activity. This time we will be giving away 150,000 USDT, and it is a 100% guaranteed win.    Activity Time: 10:00:00 on May 27, 2022 - 24:00:00 on May 31, 2022 (UTC)   Participation Conditions: Buy ≥100 USDT via VISA/MasterCard during the event.   Rewards: 100% win! The highest reward is 500 USDT, and the reward for new users will be doubled! 1. All users who meet the conditions will win a share of 150,000 USDT. 2. The rewards are divided into 3 parts, 1-5 USDT, 10-20 USDT, and 100-500 USDT. We will have a lucky draw of a random number from one of the above rewards to give away to each participant. For example: 3 USDT, 15 USDT, 100 USDT, or even 500 USDT. 3. The rewards for participants who have never purchased USDT via Visa/Mastercard on KuCoin before the event will be doubled, which means a user can get up to 1,000 USDT. Learn More Daily Briefs The annual inflation in Germany is expected to be +7.9% in May 2022, according to DeStatis, the country's Federal Statistical Office. In April 2022, the inflation rate was 7.4%. Prices increased 0.9% in a month, they added. The government of Kazakhstan said that it will seek to hike tax rates for Bitcoin (BTC) and crypto miners – as long as it can receive parliamentary approval. In an official release, the nation's finance ministry said that a "bill is currently being considered" by MPs, which seeks to "increase in the rate of [tax] payment" for miners. Asian bank Siam Commercial Bank announced that its venture investment arm SCB 10X deposited a portion of its uninvested funds into decentralized finance DeFi protocol Compound  COMP's USD coin (USDC) yield-generating product for institutions. Esports organization Galaxy Racer partnered with the metaverse project Quint, investing USD 25m in the project's native QUINT token as well. The partnership will also see the crypto company become the esports organization's "Native Ecosystem Token Partner", they added. The Reserve Bank of India (RBI), the country's central bank, proposed a three-step graded approach for rolling out a central bank digital currency CBDC "with little or no disruption" to the traditional financial system. The stages would include proof of concept, pilots, and the launch, while the RBI said it is now in the process of verifying the feasibility and functionality of launching a CBDC. The global industry association for the blockchain technology ecosystem Global Blockchain Business Council (GBBC) announced a merger with the market standards association for the adoption of crypto and digital assets, Global Digital Finance (GDF). The combined association will have nearly 500 institutional members and 178 ambassadors, operating across 95 jurisdictions and disciplines, they added. READ MORE Read All Cryptonews Promotion CoinPoker.com - #1 Cryptocurrency Poker Network Instant Deposits/Withdrawals in BTC, ETH, USDT, BNB, BUSD, Matic, CHP - and no KYC checks. Cash Games, Tournaments. Regular High Roller games. Transparent - Decentralized - Verifiably fair. All countries allowed. Windows, Mac, IOS, Android. Developed an ambitious team of poker lovers (and long time friends of Cryptonews!), with the philosophy that poker should be fun. Play Smart - Win Big. Learn More New To The Crunch? Click To Subscribe! 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