Author: admin-crypto

Biden Administration Wants Crypto Exchanges To Separate Customer and Corporate Funds By Jesse Hamilton Federal officials saw Coinbase’s admission about customers’ vulnerability in a bankruptcy and will call for congressional action to segregate clients’ funds, source says. U.S. President Joe Biden’s administration will press Congress to demand cryptocurrency exchanges keep their customers’ money separate from their own corporate funds, according to a person familiar with the plan that could constrain the way the industry does business. Spurred by Coinbase’s (COIN) recent disclosure that customers’ money would be jammed up if the company declared bankruptcy, federal officials intend to push U.S. lawmakers to…

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First Mover Asia: USDC Hasn’t ‘Flippened’ USDT, but Trader Preferences Are Changing; Cryptos Rise Despite Bearishness By Sam Reynolds, Damanick Dantes, James Rubin A Glassnode analyst suggests the collapse of the UST token has triggered a change in investors’ stablecoin preferences; bitcoin holds above $30,000. Prices: Bitcoin and other major cryptos see green, but market sentiment remains bearish. Insights: Investors change their stablecoin preferences. Technician’s take: BTC is on track to register a positive momentum signal on the daily chart. Prices Bitcoin (BTC): $30,466 +1.6% Ether (ETH): $2,092 +3.1% Biggest Gainers Asset Ticker Returns DACS Sector Litecoin LTC +7.8% Currency Algorand ALGO +7.5% Smart Contract…

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First Mover Asia: Metaverse ETFs Are Underperforming Gaming ETFs; Cryptos Return to the Red By Sam Reynolds, Damanick Dantes, James Rubin Public interest continues to grow about the metaverse, but not as much in metaverse ETFs. Does crypto belong in everything? Prices: Bitcoin and most other cryptos return to the red. Insights: Metaverse ETFs are struggling to keep pace with gaming ETFs. Technician’s take: BTC’s upside appears limited despite short-term support. Prices Bitcoin (BTC): $29,982 -3.4% Ether (ETH): $2,030 -4.7% Biggest Gainers There are no gainers in CoinDesk 20 today. Biggest Losers Asset Ticker Returns DACS Sector Internet Computer ICP −9.4% Computing Filecoin FIL −8.3%…

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At Nationals Ballpark, Terra’s Bad Week Never Happened By Eli Tan, Danny Nelson, Zack Seward Terra’s pricey Nationals sponsorship hasn’t made an impact on “Terra Club” workers and fans. WASHINGTON, D.C. — Terra may be on the ropes after last week’s dramatic death spiral, but the cryptocurrency’s name is still loudly emblazoned on the ballpark of Major League Baseball’s Washington Nationals. As the team wrapped up a series against the visiting Houston Astros on Sunday, CoinDesk went to see if the $38.5 million advertising deal had worked. Were people at the ballpark aware of Terra? Had anyone bought the asset, now worth far…

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Market Wrap: Cryptos Are Higher After a Volatile Week By Damanick Dantes Some analysts remain cautious and expect lower price returns for bitcoin over the next few months. Most cryptocurrencies traded higher on Friday as bearish sentiment waned. It appears that short-term buyers have returned from the sidelines, although technical indicators show limited upside from here. Bitcoin (BTC) returned toward the $30,000 price level and was up by as much as 5% over the past 24 hours. Still, momentum signals remain negative on the charts after BTC’s 17% dip over the past week. For now, cryptos and stocks are experiencing a…

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Crypto Carnage Continues As Stablecoin Crisis Spreads To Tether By Tyler Durden Terra developers have halted the blockchain – stopping all transactions – after the terra token (LUNA) fell in value to below 2 cents on Thursday. According to a tweet from Terraform Labs, the company behind the Terra ecosystem which includes the LUNA governance token and several algorithmic stablecoins, the price of LUNA fell too low to “prevent governance attacks,” citing LUNA inflation as one factor. LUNA fell in price from nearly $120 in early April to between 1 and 2 cents on Thursday. Terraform said the network’s validators “will coordinate” to restart…

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Terra Validators Halt Blockchain for Second Time To Plot Next Steps By Danny Nelson The blockchain was halted earlier Thursday after the governance token LUNA fell in price. Terra validators pulled the plug (at least temporarily) on their embattled network late Thursday New York time, Terra’s official Twitter account tweeted, as they searched for answers to a crisis that’s demolished UST and LUNA prices, on-chain stability and billions of dollars in wealth. “The Terra blockchain has officially halted at block 7607789. Terra Validators have halted the network to come up with a plan to reconstitute it,” the tweet said. The project’s…

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Bitcoin 2.0 Will Cease Trading Under Its Ticker, Leading Up to Its Buy Out by Truthcoin, Which Lists Under Its TruthPay Brand, on June 30, Including on Two Mid-Tier Exchanges Azbits and Coinbits By Staff Reporter Bitcoin 2.0 will cease trading under its Ticker, leading up to its buy out by Truthcoin, which lists under its TruthPay brand, on June 30, including on two mid-tier exchanges Azbits and Coinbits. It will de-list off Bitxchange by the end of May 2022, and halt trading on Azbits and Coinbits some weeks before June 30 list date. This is very positive for Bitcoin…

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Market Wrap: Cryptos Extend Losses As Luna Plunges By Damanick Dantes, Krisztian Sandor Bitcoin declined by as much as 6% over the past 24 hours, as LUNA dropped 96% and SOL fell 30%. It was a sea of red in crypto markets on Wednesday as stablecoin woes kept some traders on edge. Terra’s LUNA token plunged for the third consecutive day, declining by as much as 96% over the past 24 hours. LUNA was meant to be a buffer against volatility for the stablecoin TerraUSD (UST), but it has succumbed to extreme selling pressure. The Luna Foundation Guard moved the entirety of its reserves…

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First Mover Asia: The BitMEX Saga Continues to Leave Fundamental Regulatory Issues Unsettled; Bitcoin Falls By Sam Reynolds, Damanick Dantes, James Rubin Arthur Hayes and his BitMEX co-founders must each pay a $10 million fine, but contesting the case against them might have clarified which financial regulatory agency should have primary oversight of crypto; cryptos had a rough weekend. Prices: Bitcoin and ether plummeted over the weekend as investors continued to fret about rising interest rates and the possibility of a recession. Insights: The BitMEX case leaves regulatory issues unsettled. Technician’s take: A weekly close below $36,247 for BTC could yield further downside…

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