On Tuesday morning, Sam Bankman-Fried, owner of cryptocurrency exchange FTX, caught his employees off-guard with a somber message. “I’m sorry,” he told them. “I fucked up.” The reason for the mea culpa: His announcement half an hour earlier that FTX’s arch-rival, Binance, planned to mount a shock takeover of its main trading platform to save […]
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The deal is the latest emergency rescue in the world of cryptocurrencies this year, as investors pulled out from riskier assets amid rising interest rates The deal is the latest emergency rescue in the world of cryptocurrencies this year, as investors pulled out from riskier assets amid rising interest rates Crypto giant Binance signed a […]
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How has the NFT industry dealt with the fallout of the crypto market? What are some of the issues users had with OpenSea? How has the NFT industry dealt with the fallout of the crypto market? What are some of the issues users had with OpenSea? The story so far: The writing is on the […]
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Users of the Indian cryptocurrency exchange WazirX are actively looking for new ways to deposit their cryptos to other exchanges. This comes days after the Enforcement Directorate (ED) said it had frozen bank balances of Rs 64.67 crore belonging to WazirX. “I don’t wish to take any further risks,” said Nishant Bhalerao, 28, a Mumbai […]
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Crypto and volatility are two terms that go hand-in-hand. The global cryptocurrency market is slowly on its way to recovery with Bitcoin rebounding the $20,000 mark. The crypto market cap has increased by more than 2 per cent to $902 billion in the last 24 hours, according to CoinMarketCap data at the time of writing. […]
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The NFT market is flatlining as the global crypto market continues to crash. Bitcoin, the world’s largest cryptocurrency plunged to $20,946, witnessing an 18-month low. All cryptos are currently in the red as they continue to fall. A similar trend is being observed in the NFT spaces as sales continue to drop and NFT buyers vanish […]
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The recent Luna-Terra crash has led to tens of billions of dollars of losses, which has led to wide criticism of “algorithmic stablecoins” as a category, with many considering it to be a fundamentally flawed product. Ethereum co-founder Vitalik Buterin has shared two experiments on evaluating whether an algorithmic (algo) stablecoin is sustainable. In a […]
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Cryptocurrencies will pose a risk to financial stability if the emerging sector maintains its rapid growth of the last two years and financial firms deepen their involvement, the European Central Bank (ECB) said on Tuesday. The crypto market slumped sharply this month after the downfall of major “stablecoin” terraUSD. The crash has led to calls […]
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Terra-Luna coins have been blacklisted by several crypto exchanges, including Binance and Coinbase after the staggering loss investors faced when the supply-demand ratio of the algorithmically designed stablecoins broke. Do Kwon, CEO and co-founder of Terra Labs has finally spoken on the crash of Terra-Luna stablecoins. The CEO is looking for a revival plan to […]
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The past few days have been excessively volatile for the cryptocurrency market with the world’s largest cryptocurrency Bitcoin plunging to its lowest point since 2020. This comes after the world’s largest stablecoin—Luna and Terra depegged from its $1 value to 20 cents, causing bearish sentiments across the crypto market. According to Coinmarketcap, the entire crypto […]
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