Terra’s Tendermint Touch — Cosmos-Based Token Economy Hit Hard by LUNA’s Demise
Since last week’s Terra implosion and the demise of the blockchain project’s native token LUNA — and the algorithmic stablecoin terrausd (UST) — crypto tokens based on the Cosmos ecosystem have seen significant losses. Two months ago, the top Cosmos ecosystem coins collectively were worth $61.6 billion and since then, the Cosmos economy has lost […]
Bitcoin․com Exchange Market Insights Report for May 2022
This is the May 2022 monthly market insights report by Bitcoin.com Exchange. In this and subsequent reports, expect to find a summary of crypto market performance, a macro recap, market structure analysis, and more. Crypto Market Performance May got off to a rough start as the Federal Reserve confirmed a hawkish bias on the back […]
Luna Foundation Guard Discloses Usage of Bitcoin Reserves
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 another part was traded on different dates to […]
Portugal to Tax Cryptocurrency Income According to Minister of Finance
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 following the principles of “justice” and “efficiency,” and […]
Indian Regulator SEBI Proposes Banning Public Figures From Endorsing Crypto Products
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 products. SEBI’s Crypto Advertising and Endorsement Proposal The Securities and Exchange Board of India […]
Iran Blocks 9,200 Bank Accounts Over Suspicious Foreign Currency, Crypto Transactions
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 of Intelligence issued a statement Saturday stating that it has blocked a number of bank accounts due to suspicious […]
Former Fed Chair Bernanke: Bitcoin Is Mainly Used in Underground Economy for Illicit Activities
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.” Ben Bernanke on Bitcoin, Cryptocurrency Former Federal Reserve chairman Ben Bernanke shared […]
Grayscale Launches European ETF While Urging SEC to Approve GBTC Conversion Into Spot Bitcoin ETF
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, the world’s largest digital asset manager, announced Monday the launch of its first European […]
China Backed Publication: Terra LUNA Crash Vindicates Country’s Ban on Crypto-Related Activities
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, the author names the interest rate hikes by the U.S. Federal Reserve and the […]
Finder’s Poll Conducted Weeks Before Terra’s Fallout Predicted LUNA Would Tap $143 This Year
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. Currently, LUNA is worth far less than a U.S. penny and while […]
