The Latest Crypto Market News
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Polygon and others extend helping hand to Terra blockchain projects
Cointelegraph.com News - 16 May 2022, 2:03 pmThese efforts are sure to help get many Terra projects back on their feet following last week’s devastating events. Numerous developers have been left in uncertainty in the aftermath of the Terra (LUNA) collapse. These Terra-based projects, which are already under a lot of pressure, may be able to save their communities and projects by…Read More
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Circle Says USDC Reserve Backed Entirely in Cash and Short-Dated US Treasuries
Bitcoin News - 16 May 2022, 2:00 pmOn May 13, Circle’s chief financial officer Jeremy Fox-Geen published a blog post called “How to Be Stable,” following the aftermath of Terra’s stablecoin implosion. Circle’s CFO explained that since usd coin’s inception, the stablecoin aims to be “the most transparent and trusted dollar digital currency.” Terra’s Stablecoin De-Pegging Incident Has Cast a Spotlight on…Read More
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What really goes on at a crypto OTC desk?
Cointelegraph.com News - 16 May 2022, 1:49 pmOver-the-counter, or OTC, trading refers to any trading that is not done via an automated exchange. What exactly is OTC trading? Who does it, and why? To learn more about what an OTC desk is and how these under the radar exchanges operate, Magazine spoke to a few insiders to get the scoop.The most popular…Read More
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Deus Finance’s dollar-pegged stablecoin DEI falls below 60 cents
Cointelegraph.com News - 16 May 2022, 1:27 pmFollowing the fall of TerraUSD, DEI, the algorithmic stablecoin by DEUS Finance, takes a nosedive below $0.60. As the market continues to mourn over losses on the Terra (LUNA) UST and LUNA debacle, DEI, a stablecoin used as a collateral mechanism for third-party instruments built on the Fantom (FTM)-based decentralized finance (DeFi) protocol DEUS Finance…Read More
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CBDC activity heats up, but few projects move beyond pilot stage
Cointelegraph.com News - 16 May 2022, 1:01 pmDoes government-issued digital money pose an existential threat to cryptocurrencies? Probably not, but stablecoin usage could narrow. Government-issued electronic currency seems to be an idea whose time has come. “More than half of the world’s central banks are now developing digital currencies or running concrete experiments on them,” reported the Bank for International Settlements, or BIS,…Read More
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Bitcoin, Ethereum Technical Analysis: BTC Below $30,000 to Start the Week
Bitcoin News - 16 May 2022, 1:00 pmFollowing a volatile weekend of trading, cryptocurrency prices consolidated to start the week, with BTC close to its long-term floor. Overall, bitcoin was trading marginally below $30,000, with ETH hovering slightly above $2,000. Bitcoin BTC started the week trading below $30,000 following a volatile weekend of trading, which saw prices mainly consolidate. Following a rise…Read More
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David Marcus Launches Bitcoin Payments Startup Lightspark
Bitcoin News - 16 May 2022, 11:30 amDavid Marcus, former cryptocurrency head at Meta, is launching Lightspark, another payments company that will use crypto as its central payment tool. The startup, which will have Marcus at the helm as CEO, also features some of Meta’s former employees and will explore the possibilities of using the layer 2 Lightning Network (LN) as a…Read More
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FTX CEO sees no future in Bitcoin payments, community fires back
Cointelegraph.com News - 16 May 2022, 11:00 amFTX CEO’s comments on Bitcoin received heavy backlash from the crypto community, with many reminding him of Solana, a PoS network that has gone offline half a dozen times. Sam Bankman-Fried, the founder of crypto exchange FTX, has criticized the efficiency of Bitcoin (BTC) as a payment network, only to meet heavy backlash from the…Read More
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Tezos Foundation Launches Fund to Collect NFT Creations by African and Asian Artists
Bitcoin News - 16 May 2022, 8:30 amThe Tezos Foundation recently said it has committed $1.23 million to a fund that will be used to collect non-fungible tokens (NFTs) created by African and Asian artists. Photographer Misan Harriman has been selected as the curator of the foundation’s permanent art collection. Supporting a New Generation of Artists The Swiss non-profit organization,…Read More
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Turkish Referee Flips Bitcoin at Istanbul Derby Kick-Off, Soccer Authority Launches Probe
Bitcoin News - 16 May 2022, 6:30 amA soccer referee’s decision to toss a bitcoin before the start of a recent match between Istanbul giants Beşiktaş and Fenerbahçe has sparked controversy in Turkey. The country’s football authority is trying to establish why a crypto coin was used for the ritual when that role should have been reserved for the Turkish lira. Bitcoin…Read More