Terra’s Tokens Had Design Flaws, But There Was No Rug Pull – Paolo Ardoino

Do Kwon and his team continue the battle to restore normalcy to the Terra network following the crash of the network’s algorithmic stablecoin and native token. LUNA’s price crashed so hard that it now trades for pennies, while the TerraUSD stablecoin (UST) lost its USD peg and now trades at $0.0625, according to the current … Read more

Major Cryptocurrencies Rise 9% as Market Shows Recovery

Amid the bleeding crypto market that has dominated headlines since Monday, BTC and ETH have rebounded, leading to the overall market recovery. The flagship coin crawled back to above $30k in the early hours of Friday, exchanging at a day high of $30.9k. Currently, it trades at $30.3k, shedding about 60 cents based on CoinMarketCap.  … Read more

Robinhood Has Announced That it Will Soon Launch a Web3 Wallet

Acclaimed zero-fee crypto trading platform, Robinhood, has revealed that its non-custodial crypto wallet is near completion. It added that the wallet would be interoperable with several blockchains. Part of the announcement added that even though the wallet can store NFTs and works on any NFT marketplace, it would still be an independent app. Nonetheless, Robinhood … Read more

US Treasury Secretary Reiterates Risks Associated With USD Pegged Tokens

Ex Fed chair and current US Treasury Secretary, Janet Yellen, has shared her insights concerning the crypto sector following the decline of Terra’s native token and stablecoin. Earlier in the week, TerraUSD (UST) declined massively to a new daily low of $0.7495, and within a few hours later, it slid further to $0.6134.  Then, on … Read more

Reports Reveal Illicit Cryptocurrency Transactions Rose in the Last Two Years

DeFi is a crucial sector that has revolutionized finance. Yet, it’s an extremely vulnerable sector due to its decentralized mode of operations and openness. It leaves the space susceptible to scammers and criminals who use the industry for selfish gains.  Hacking and money laundering are the two most common illicit activities in the DeFi space. … Read more

The Venezuelan Government Wants To Solidify The Bolivar As The Main Currency For Transactions

The Bolivar is gradually being strengthened following the government’s imposition of a 3% tax on crypto transactions. Having faced various economic crises five years ago, the Venezuelan president authorized the de-facto dollarization to escape the nation’s economic woes. However, the country is seeking to make a u-turn to de-dollarize its economy and make the nation’s … Read more

VanEck Becomes The First Asset Management Firm To Launch An NFT Offer

On Monday, VanEck announced the launch of the VanEck community NFT, an initiative where crypto investors and anyone curious about the NFT space can join the firm’s crypto community. As part of the launch, 1,000 VanEck NFTs would be released to demonstrate the actual utility of NFTs. The asset management firm is convinced that a … Read more

DeFi Trading Platform Launches Platform To Trade US Stocks With Huge Leverage

Top DeFi trading platform, gains network, has announced the launch of its on-chain decentralized trading platform (gTrade), which enables users to trade the US stock market from inside the gTrade platform. Since the platform is still in the beta stage, it will only feature three US stocks on launch day ($AAPL, $GOOG, and $FB). The … Read more

Q1 2022 Tether Trading Volume Significantly Lower Than Q1 2021 Trading Volume

As the volatility of the crypto market reaches a pitch high, data analytics show that the trading volume of Tether in the first quarter of this year is significantly lower than that of the same quarter last year. While many crypto investors are transferring their cryptos to stablecoins, there isn’t a massive influx of investors … Read more

US CFPB Invokes Dormant Legal Policy To Perform Oversight Functions On Crypto

America’s Consumer Financial Protection Bureau (CFPB) has brought up an old legal policy (the Dodd-Frank Act) to “curb consumer risks among non-financial institutions.” The agency claims that it lessens consumers’ risk exposure and ensures no partiality in how financial and non-financial institutions serve these consumers. Through this Dodd-Frank act, the agency can analyze crypto-related offerings … Read more