Yield platform Stablegains sued for promoting UST as a ‘safe’ investment
The stablecoin yield platform is being sued for customer losses following exposure to the Anchor Protocol and UST collapse last year. Go to Source Powered by WPeMatico
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Terraform Labs and CEO Do Kwon Charged by SEC With Multibillion-Dollar Crypto Fraud
The U.S. Securities and Exchange Commission (SEC) has charged Terraform Labs and its CEO, Do Hyeong Kwon, with fraud, alleging that Kwon and his company orchestrated “a multibillion-dollar crypto-asset securities fraud.” The securities watchdog insists that Kwon raised billions from investors by creating an “interconnected suite of crypto-asset securities,” many of which were involved in … Read more
Stablecoin issuer Paxos reportedly probed by New York regulators
While the exact reason for the investigation hasn’t been revealed, it has been reported that the New York regulator plans on upping its efforts to protect consumers this year. Go to Source Powered by WPeMatico
FTX’s Exchange Token FTT Sees Mysterious Pump Amid Bankruptcy Case, SBF Fraud Charges
As the FTX bankruptcy case and fraud charges against co-founder Sam Bankman-Fried continue to unfold, the value of the exchange’s token, FTX Token (FTT), has seen significant growth. Since Jan. 9, 2023, FTT has risen 28.42% and currently sits above the $1 range, following a dip below that threshold. FTT Token Jumps 28% Rising Above … Read more
ECB’s Fabio Panetta: Unbacked Cryptos Are a ‘Vehicle for Gambling’ Lacking ‘Intrinsic Value’
Fabio Panetta, part of the Executive Committee of the European Central Bank (ECB), believes that unbacked cryptocurrency assets are vehicles for gambling without intrinsic value, which need to be regulated. In an opinion piece, Panetta states that while cryptocurrency regulation is a good answer to the problem, it must also touch on decentralized finance structures. … Read more
FTT Breaks $1 Support for the First Time Since FTX Collapsed, Token Struggles With Dwindling Trade Volume
Despite FTX’s collapse last month, the trading platform’s crypto token FTT had managed to not plummet all the way down to zero, and surprisingly it hovered below the $2 per unit region after Nov. 12, 2022. For 38 days FTT remained above the $1 per unit area up until Dec. 19, as the token suddenly … Read more
3 reasons why BNB price risks another 30% decline by January
BNB has entered the breakdown stage of its prevailing ascending triangle pattern alongside some negative fundamentals that can push price further down. Go to Source Powered by WPeMatico
Algorithmic stabilization is the key to effective crypto-finance
Crypto needs to move on from the LUNA crash and start trusting algorithmic stablecoins again. Go to Source Powered by WPeMatico
Terra co-founder Do Kwon hiding out in Serbia, says authorities
South Korean authorities have requested cooperation from the Serbian government in order to bring Kwon back to face charges in South Korea. Go to Source Powered by WPeMatico
Talks of Issuing a New FTT Token Fuel Coin’s Price Despite FTT’s Broken Tokenomics Scheme
Roughly 29 days ago FTX filed for bankruptcy, and the crypto ecosystem has been dealing with a rollercoaster ride of market fluctuations and community drama ever since then. Moreover, the now-bankrupt crypto trading platform’s exchange token FTT is still trading above $1 per unit, and it managed to climb 23.4% higher against the U.S. dollar … Read more
