US congress research agency weighs in on UST crash, notes gaps in regulation
The CRS described the TerraUSD crash as a “run-like” scenario where holders started to doubt the reserves that back the dollar peg. Go to Source Powered by WPeMatico
Month: May 2022
Bitcoin․com Exchange Market Insights Report for May 2022
This is the May 2022 monthly market insights report by Bitcoin.com Exchange. In this and subsequent reports, expect to find a summary of crypto market performance, a macro recap, market structure analysis, and more. Crypto Market Performance May got off to a rough start as the Federal Reserve confirmed a hawkish bias on the back … Read more
This week’s Law Decoded: Is depegging a real threat to financial stability?
Janet Yellen calls on lawmakers to develop a consistent federal framework for stablecoins, Hester Peirce urges to allow room for failure and more. Go to Source Powered by WPeMatico
Luna Foundation Guard Discloses Usage of Bitcoin Reserves
The Luna Foundation Guard, the entity in charge of safeguarding the peg of UST, the stablecoin of the Terra ecosystem, has revealed how it used the available Bitcoin reserve before the recent debacle involving the Terra ecosystem. The organization sold part of the bitcoins owned directly, while another part was traded on different dates to … Read more
Fear & Greed Index hits lowest since March 2020 even as Bitcoin price hits $30.5K
Deja vu for BTC versus market sentiment, as conditions mimic the weeks after the March 2020 COVID-19 crash. Go to Source Powered by WPeMatico
China returns as 2nd top Bitcoin mining hub despite the crypto ban
China still hosts 21% of the total global Bitcoin hash rate after the local government banned all crypto operations in the country last year. Go to Source Powered by WPeMatico
RBI warns of crypto ‘dollarization’ of Indian economy
Crypto “will seriously undermine the RBI’s capacity to determine monetary policy and regulate the monetary system of the country,” according to Reserve Bank of India officials. Go to Source Powered by WPeMatico
Portugal to Tax Cryptocurrency Income According to Minister of Finance
Portugal, one of the countries considered a crypto tax haven due to its absence of crypto-related taxation, is preparing to change this policy. Fernando Medina, minister of finance of Portugal, stated that the country is working on a framework to allow the taxation of cryptocurrency income gains following the principles of “justice” and “efficiency,” and … Read more
Twitch co-founder raises $24M for Web3 gaming firm Metatheory
The funding round led by Web3-focused venture capital firms will be used for upcoming non-fungible tokens (NFTs), comics, and a play-to-earn game slated for late 2022. Go to Source Powered by WPeMatico
Japan’s largest investment bank Nomura readies new crypto subsidiary
The leading Japanese bank plans on establishing a crypto subsidiary outside of Japan and will acquire about 100 personnel to work in the digital asset space. Go to Source Powered by WPeMatico