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” PoolTogether raises 471 ETH with NFTs to fund legal defense “ So called “no-loss lottery” DeFi platform PoolTogether has raised 470.90 Ether (ETH) via NFT sales to fund its legal defense against a putative class action lawsuit. That means PoolTogether is more than halfway to its goal to raise at least 769 ETH worth…
” Aussie banks ANZ and NAB won’t ‘endorse’ retail speculation on crypto “ Executives at two of Australia’s “big four” banks have ruled out allowing retail customers to trade cryptocurrency on their platforms, with one reasoning that customers don’t understand “basic financial well-being.” Speaking at the Australian Financial Review Banking Summit on Tuesday Maile Carnegie,…
” UN agency head sees ‘massive opportunities’ in crypto: WEF 2022 “ The United Nations is smitten with distributed ledger technology (DLT). In a conversation with Cointelegraph at WEF 2022, United Nations International Computing Centre (UNICC) director Sameer Chauhan explained the “massive opportunities” he sees in cryptocurrencies. A former traditional finance executive and head of…
” UK government proposes additional safeguards against stablecoin failure risks “ In a new consultation paper published on Tuesday, the Treasury of the United Kingdom proposed a new set of regulatory changes for the stablecoin industry. In its report, the Treasury highlighted the importance of stablecoins in innovation but also noted their ability to impact…
” Chinese state media signals tighter crypto regulations in Terra aftermath “ The China state-owned media outlet, the Economic Daily, has signaled that the Chinese government may introduce even tighter regulations on cryptocurrencies and stablecoins due to the collapse of the Terra ecosystem. In an article published May 31, the outlet detailed the collapse of…
” Terra (LUNA) 2.0 relaunches according to Do Kwon’s revival plan “ Do Kwon, the co-founder and CEO of Terraform Labs, confirmed the relaunch of Terra’s new chain, Terra 2.0, which aims to revive the fallen Terra (LUNA) and TerraUSD (UST) ecosystem. Kwon’s revival plan for Terra involves hard forking the existing blockchain and reissuing…
” WEMIX gains 200%+ after stablecoin and boosted staking rewards announcement “ Blockchain-based gaming, also known as GameFi, is an up-and-coming sector that could potentially be one of the primary catalysts for kickstarting the mass adoption of blockchain technology. WEMIX, a gaming protocol that operates on the Klaytn network, aims to get in on the…
” How Terra’s collapse will impact future stablecoin regulations “ The collapse of the Terra ecosystem, which subsequently depegged its algorithmic stablecoin TerraUSD (UST) value and crashed it to an all-time low of $0.30, has cast doubt over the future of not just algorithmic stablecoins but all stablecoins in general. UST’s success and stability were…
” 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…
” 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…