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” Stepn to block mainland China users to comply with regulatory policies “ The nonfungible token (NFT) game Stepn will ban users in mainland China in an attempt to follow Chinese regulatory requirements. The company’s uncertainty has been fueled by rumors that it will be forced to leave mainland China. STEPN is a popular “move-to-earn”…
” Two key takeaways from Nansen’s UST stablecoin depeg report “ As the dust settles on the cataclysmic collapse of the Terra ecosystem, an on-chain deep-dive carried out by blockchain analytics firm Nansen highlights two major takeaways. The cryptocurrency ecosystem was awash with varying speculatory theories around the cause of Terra’s algorithmic stablecoin UST’s decoupling…
” Hacker tastes own medicine as community gets back stolen NFTs “ The tales of traders getting scammed out of their nonfungible tokens (NFTs) were quite common at the peak of the NFT boom. However, in an interesting turn of events, the Solana community came together to “scam” a scammer in order to get back…
” Terra to burn 1B UST from the community pool as holders vote for it “ In another attempt to support the revival of Terra (LUNA), the community voted to burn a large amount of UST from its community pool. Earlier in May, Terra founder Do Kwon explained that a potential solution to the Terra…
” Vitalik: How to create algo stablecoins that don’t turn into ponzis or collapse “ Ethereum co-founder Vitalik Buterin has shared two thought experiments on how to evaluate whether an algorithmic (algo) stablecoin is sustainable. Buterin’s comments were sparked by the multi-billion dollar losses caused by the collapse of the Terra (LUNA) ecosystem and its…
” JPMorgan trials blockchain for collateral settlement in after-hours trading “ Multinational investment bank JPMorgan Chase & Co is reportedly trialing the use of its own private blockchain for collateral settlements. According to Bloomberg JPMorgan conducted a pilot transaction last Friday which saw two of its entities transfer a tokenized representation of Black Rock Inc….
” Brainard tells House committee about potential role of CBDC, future of stablecoins “ The Fed vice chair told the House Financial Services Committee that a CBDC offers stability, interoperability in increasingly complex economic system. <p>United States Federal Reserve vice chair Lael Brainard submitted a written statement in advance to the Financial Services Committee virtual…
” Tether launches stablecoin pegged to pesos on Ethereum, Tron and Polygon “ Amid market issues surrounding stablecoins, Tether (USDT) launched a new digital asset that will be pegged to the Mexican peso on Ethereum (ETH), Tron (TRX) and Polygon (MATIC) networks. In an announcement sent to Cointelegraph on Thursday, Tether mentioned that the token…
” Blockchain tech offers multiple paths to financial inclusion for unbanked “ Financial inclusion, accessible services and the unbanked are standard talking points in many conversations about crypto. But, the details may remain somewhat fuzzy — the people who talk about crypto are generally those already inside the financial system. There are people who are…
” Exchanges back ‘Terra 2.0 revival plan’ via airdrops, listing, buyback and burning “ The fall of Terra (LUNA) shook the entire crypto market. However, the project has no plans to stay down as the project secured backing from crypto exchanges to help it rebuild. In an announcement Thursday, Terra provided details about the airdrop…