Crypto news

It has been a tough year for algorithmic stablecoins. Historically, these pegged tokens have failed to maintain a grip on $1, especially under extreme selling pressure. But the Terra collapse has been disastrous, and the ripple effects have had a decisive impact on the rest of the market. Seven months later, another algorithmic stablecoin is having trouble maintaining its dollar peg. In fact, this is the fifth time that Waves-backed Neutrino Dollar (USDN), currently trading...

Source Hut – an open-source repository – has stated it’s not going to permit any more projects that delve into the digital currency or blockchain arenas. The idea is that these assets and the technology behind them are too often used for fraudulent means, and the platform doesn’t want its software, its name, or reputation tarnished should illicit actors decide to utilize its services. Source Hut Is Doing Away with Crypto Permissions The decision was made by founder and creator Drew DeVault....

Bitcoin is fighting to get over two crucial resistance levels. A successful breakout above these vital barriers could potentially result in a bullish surge in the near future. Technical Analysis By Shayan The Daily Chart After touching the lower trendline of the descending wedge pattern, the price of bitcoin initiated a mini-rally followed by extremely low momentum and trading volume. The price now faces two substantial resistance levels: the 50-day moving average at $17.9K...

[PR – London, United Kingdom, 10th December, 2022, Chainwire] Pillar’s latest release for its non-custodial cryptocurrency wallet ships with a sophisticated recovery mechanism that protects user funds without compromising security. Other game-changing updates include in-app cross-chain swaps and meta-transactions, which allow users to pay for gas fees on any chain with stablecoins housed on any other chain. The security that is a major benefit of non-custodial wallets is also...

Instagram celebrity Jebara Igbara has pled guilty to running a multimillion-dollar Ponzi scheme involving bitcoin. Jebara Igbara Guilty of Crypto Ponzi Scheme Igbara – who has amassed several million followers on social media – entered a guilty plea for his alleged crimes and could be sentenced to as many as ten full years in a federal prison. Often going by the name Jay Mazini, Igbara is 27 years of age and has built a reputation for being a generous person. His social pages often feature...

The American multinational chain of coffeehouses – Starbucks – launched its blockchain-based loyalty program, called Starbucks Odyssey, to its first group of US beta testers. The effort is an extension of the company’s existing project – Starbucks Rewards – and includes coffee-themed NFTs that relate to real-world experiences. The entity displayed its intentions to hop on the NFT and Web3 bandwagon earlier this year by introducing the Starbucks Odyssey program. The...

New Jersey wants to turn itself into the most crypto friendly region in America. That’s why it’s introducing the “Digital Assets and Blockchain Regulation” Act, which will permit decentralized autonomous organizations (DAOs) to establish themselves within the state’s borders and issue stock certificates and create tax incentives for digital currency firms. New Jersey Is Establishing New Digital Currency Laws New Jersey has been up and down in its relationship with digital assets. While some...

The Japanese authorities reportedly extended the business suspension order to FTX Japan until March 9, 2023. Initially, the company had to cease all services on December 9. According to recent coverage, the Kanto Local Finance Bureau will grant FTX Japan three more months before halting all its activities. The final date has moved from December 9, 2022, to March 9, 2023, because the company still struggles to return assets to customers. The authorities further claimed that...

The cryptocurrency market has remained calm over the past 24 hours with unimpressive volumes, which is rather typical for the weekend. It’s also worth noting that market participants might be cautious before the release of November’s CPI numbers. Bitcoin Stable at $17K Bitcoin’s price has failed to produce any significant movements in the past 24 hours and has maintained above $17K for a total of 0.2% gains on the day, according to CoinGecko. As seen in the chart below, there...

But blockchain firm Ripple’s Chief Technology Officer, David Schwartz, weighed in on Sam Bankman-Fried’s sympathizers but also went on to detail what went wrong with the company. Ripple CTO’s Take on FTX Collapse The exec listed out three things that went “horribly wrong.” FTX customer fiat assets were left in Alameda accounts and used by Alameda. Customer deposits FTX was just supposed to hold were commingled with assets used in riskier ways. Alameda was supposed to be...