BitBoy Crypto founder Ben Armstrong said that Celsius won’t let him withdraw money from the platform without sending more money to it first.
Powered by WPeMatico
BitMEX co-founder Benjamin Delo avoids jail, receives 30 months probation
Delo was allowed to leave the country to travel to Hong Kong where he is a resident, bringing to a close his part in the legal saga which began in 2020.
Powered by WPeMatico
Yahoo launching Metaverse events for Hong Kong residents under restrictions
Yahoo has announced its intention to launch a series of Metaverse projects in Hong Kong, apparently creating a brief rally for Decentraland’s native token, MANA.
Powered by WPeMatico
Tron’s USDD Stablecoin Faces Same Fate as Terra Luna’s UST
Another algorithmic stablecoin appears to be in danger of losing its peg following the UST-Terra debacle. Investors are also currently in fear of having to face the same fate as Terra’s UST historical fall. USDD is a stablecoin that runs on TRON’s blockchain and has a similar algorithm to UST but is tethered to TRX. Similar to Terra Luna’s mechanism, USDD is an algorithmic stablecoin maintaining its dollar parity by burning TRX. At the time of writing, the stablecoin is trading at $0.95, which is about 5% below its target price peg of $1. This comes when TRX’s price is
The post Tron’s USDD Stablecoin Faces Same Fate as Terra Luna’s UST appeared first on The Merkle News.
Powered by WPeMatico
Billionaire Sam Zell: I’ve Stayed Away From Bitcoin at All Costs
The billionaire founder and chairman of Equity Group Investments, Sam Zell, says he is staying away from bitcoin at all costs. He explained that he does not understand the cryptocurrency and believes that a currency without the backing of a government is unlikely to work. Sam Zell Remains Skeptical of Bitcoin While a growing number […]Powered by WPeMatico
Celsius CEO “Loses Voice” Two Days Before Halting All Withdrawals
The crypto-lending firm Celsius, which offers high-yield returns on user deposits, appears to be the latest to falter in the face of tightening financial conditions. It also came barely one month after the Terra-Luna stablecoin network collapsed. Background Celsius Network is a blockchain-based lending platform accessible through a free mobile app. Celsius Network is a big, venture capital-backed cryptocurrency company valued at $4.1 billion after its most recent Series B funding round in November 2021. According to the Federal Deposit Insurance Corporation, traditional banks in the United States currently give a 0.07 percent annual income on savings accounts. In comparison,
The post Celsius CEO “Loses Voice” Two Days Before Halting All Withdrawals appeared first on The Merkle News.
Powered by WPeMatico
71% of high net worth individuals have invested in digital assets: Survey
A new survey suggest most of the world’s wealthiest have invested in digital assets and wealth management firms have been advised to prioritize providing education and advice.
Powered by WPeMatico
Korean exchanges agree on emergency system in case of Terra-style collapse
Korean exchanges will soon be required to list tokens based on the same guidelines to ensure compliance with local regulations, and make emergency decisions together to prevent another Terra fiasco.
Powered by WPeMatico
‘Cheaper than it looks’: Fidelity’ exec says BTC undervalued and oversold
Anthony Pompliano made similar remarks on Monday, noting that Bitcoin’s “value and price are diverging” and that “weak hands are selling to strong hands.”
Powered by WPeMatico
Total supply of stablecoins dropped sharply for first time ever in Q2
A separate graph also saw USDC and BUSD supply drop sharply in May, however both have since rebounded and are close to being back to their respective all-time high levels.
Powered by WPeMatico