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” South Korea ramps up crypto investigations and regulations “ On Friday, June 3, South Korea’s Financial Supervisory Service (FSS) began an investigation into payment gateway services that work with digital assets. The FSS is South Korea’s financial regulator that operates under the Financial Services Commission (FSC), both of which are government institutions. As reported…
” Finance Redefined: Maker founder proposes endgame, Singapore explores DeFi and more “ The past week in the decentralized finance (DeFi) ecosystem saw many new developments, including the rebirth of the Terra 2.0 blockchain. Meanwhile, Binance’s incubation platform Binance Labs launched a $500 million fund to support and promote Web3 adoption. Singapore’s central bank partnered…
” The crypto market dropped in May, but June has a silver lining “ May 2022 was not for the faint-hearted. Even the most embattled and experienced crypto traders were tested in the first two weeks of the month on a brutal drop following the United States Federal Reserve’s announcement that interest rates would be…
” Terra 2.0: A crypto project built on the ruins of $40 billion in investors’ money “ Terra remained the focus of the majority of headlines throughout May for its spiral collapse leading to a loss of over $40 billion in investors’ money. Despite some early resistance from the community and heavy backlash from the…
” Japan passes bill to limit stablecoin issuance to banks and trust companies “ Japan is moving forward with legislation regarding the issuance of stablecoins i.e. digital assets with their value pegged to fiat currencies or stabilized by an algorithm. On June 3, Japan’s parliament passed a bill to ban stablecoin issuance by non-banking institutions,…
” These are the least ‘stable’ stablecoins not named TerraUSD “ The recent collapse of the once third-largest stablecoin, TerraUSD (UST), has raised questions about other fiat-pegged tokens and their ability to maintain their pegs. Stablecoins’ stability in question Stablecoin firms claim that each of their issued tokens is backed by real-world and/or crypto assets,…
” Binance’s CZ says he is ‘skeptical’ about the Terra relaunch “ Binance CEO Changpeng Zhao, also known as CZ, expressed skepticism around the revival plan for the Terra ecosystem and the launch of the new LUNA token. “I try not to predict what the community will do. […] Many are skeptical. I’m one of…
” Kraken CEO defends listing LUNA 2.0: ‘Bitcoin traders don’t pay the bills’ “ The crypto winter has emotions running high. Kraken CEO Jesse Powell came under fire for his defense of listing the new LUNA, also known as LUNA 2.0, which seeks to bring the original LUNA — now known as Luna Classic (LUNC)…
” In wake of Terra collapse, South Korea plans new crypto oversight committee: Report “ The Terra ecosystem’s rise and fall has had major consequences all around the world, but there’s no doubt that South Korea, the birthplace of its’ creator, was the most concerned country of them all. Amid signs that Terraform Labs co-founder…
” Binance Staking completes initial phase of Terra 2.0 airdrop as ecosystem issues persist “ On Tuesday, cryptocurrency exchange Binance said it completed the first stage of airdropping new Terra Luna (LUNA) tokens to holders of Terra Luna Classic (LUNC), TerraUSD (USTC) and AnchorUST (aUST). The distribution was based on “pre-attack” and “post-attack” snapshots of…