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Altcoins saw a relief bounce on May 13 as the initial panic sparked by Bitcoin’s sell-off Terra’s UST collapse and multiple stablecoins losing their dollar peg begins to decrease and risk loving traders look to scoop up assets trading at yearly lows. Daily cryptocurrency market performance. Source: Coin360 Despite the significant correction that occurred over
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Bad news continues to dominate crypto media headlines and May 12’s juiciest tidbit was the unexpected collapse of the Terra ecosystem. In addition to the weakness seen in equities, listed companies with exposure to blockchain startups and cryptocurrency mining have also declined sharply. Bitcoin mining stocks continue bleeding… Mining investors probably wish they had simply
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One of the United Arab Emirates (UAE)’s leading airlines, Emirates Airline, said it has plans to add “bitcoin as a payment service.” The airline is planning to recruit personnel to create applications that monitor client needs. Two Different Applications and Approaches The United Arab Emirates (UAE)’s leading airline, Emirates Airline, will soon embrace “bitcoin as
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Commissioner Hester Peirce — also known as the Securities and Exchange Commission’s (SECs) “crypto mom” — has backed a regulatory framework for stablecoins that allows “room for there to be failure.” Speaking at an online panel on May 12 hosted by financial think-tank the Official Monetary and Financial Institutions Forum (OMFIF) Peirce, who has long
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The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, says cryptocurrency exchanges are “trading against their customers often because they’re market-marking against their customers.” He has raised concerns over crypto trading platforms “commingling” services. SEC Chair Gensler on Crypto Exchanges Trading Against Customers SEC Chairman Gary Gensler said in an interview with
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The crypto winter could be claiming more casualties among the stablecoin camp. The depegging of TerraUSD (UST) on May 10 triggered market selloffs, and now Tether (USDT) appears to be losing its footing. It has slipped against the U.S. dollar. The algorithmic stablecoin UST, as the name implies, is algorithmically backed. Terra (LUNA), the ecosystem’s
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Bitcoin has been losing value for months because of, among other market variables, limited liquidity circumstances and targeted dumping of high beta technology equities. Since the 2008 global financial crisis, low interest rates have caused broad market valuations to reach extraordinary levels. Now, according to analysts, the decade-long bubble has burst, and assets are returning
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Masterminds of one of South Africa’s biggest bitcoin Ponzi schemes, Mirror Trading International (MTI), have been asked by the scheme’s liquidators to pay back over $291 million to cover the scam operation’s debts. Liquidators’ Influence Liquidators of the South African bitcoin Ponzi scheme, Mirror Trading International (MTI), have issued summonses against eighteen individuals believed to
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United24, a new fundraising platform announced recently by Ukrainian President Volodymyr Zelenskyy, accepts a number of cryptocurrencies, alongside traditional payment methods. The initiative also permits donors to choose how their money will be spent. Kyiv Launches New Platform for Donations Amid Ongoing War With Russia Ukraine, which has been increasingly relying on foreign donations to
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