Crypto news

While the Terra/UST $60 billion fiasco appears to be gradually dying down, South Korean prosecutors have revealed plans to launch a fresh investigation into the firm and its executives. According to a recent report by the Korean Herald, the Financial and Securities Crime Joint Investigation Team of the Seoul Southern District Prosecutors Office has met with several crypto experts and financial regulators to review Terra tokens. Terra Tokens Could Be Securities  Per the...

In the final days leading up to Ethereum’s historic “Merge,” the largest American cryptocurrency exchange has provided some insight into the risks associated with the upgrade.  Coinbase’s Senior Protocol Specialist Ben Rodriguez explained that the Merge may come with technical and operational risks, alongside risks for miners and dapp users. Risks of the Merge Per Rodriguez’s latest post, the merge will be “the most technically complex upgrade to have ever happened in...

The once notoriously high yields provided by crypto lending services are now struggling to compete with more traditional, safer options. While yields for 3-month treasury bills slowly rise, AAVE’s lending rates on USDC have slumped massively since May. Rates for the two products have now crossed one another, meaning government debt is offering a better payout than its decentralized competition. High Risk, Low Reward? According to data provided by Bloomberg and Aavewatch, USDC...

Bitcoin isn’t doing too well as of late. The world’s largest digital currency by market cap has fallen from its November all-time high of approximately $68,000 per unit to the low $20K range at the time of writing, and it doesn’t look like it’s going to pick up steam anytime soon, but according to Jesse Powell – the CEO of crypto exchange Kraken – the asset shouldn’t be discounted, and he’s continuing to buy new units whenever he can. Jesse Powell on Bitcoin: It’s Still...

Users of MakerDAO, the organization behind DAI, will now be able to mint the stablecoin for free. This was made possible after an executive vote increased the debt ceiling for its stETH vault to 200 million DAI. The higher debt ceiling is expected to minimize its dependency on support from centralized collateral assets. As such, the governance voted on the proposal that sought to reduce the fees for six vaults. The main idea was to promote DAI mints against decentralized...

Wladimir van der Laan – the top developer of bitcoin and second in command to the legendary (and anonymous) Satoshi Nakamoto – is leaving the bitcoin project, and he says social media is the main reason for his resignation. Wladimir van der Laan Is Ready to Move On In a recent interview, Laan says that the number of “spats” he’s endured on social media – combined with his regular feelings of “burnout” – have caused him to step away. As one of the few individuals in the...

BitGo confirmed earlier today that it had filed a lawsuit against the Mike Novogratz-spearheaded company seeking damages in excess of $100 million. Galaxy Digital planned to acquire BitGo earlier this year but backed out of the deal recently. In a September 13 Twitter thread, BitGo confirmed the previous rumors about the lawsuit, saying it was filed on September 12. The company said it wants “more than $100 million” in damages “arising from Galaxy’s improper repudiation and...

INTERNET CITY, DUBAI, Sep. 9, 2022 – LBank Exchange, a global digital asset trading platform, will list AssetMantle (MNTL) on September 13, 2022. For all users of LBank Exchange, the MNTL/USDT trading pair will be officially available for trading at 18:00 (UTC+8) on September 13, 2022. Redefining digital asset ownership, AssetMantle (MNTL) is a multi-tenant NFT marketplace framework that enables creators and collectors to securely mint, own, and trade digital assets on...

Crypto lending platform Celsius Network has received permission from the judge overseeing its bankruptcy case to sell all the bitcoin it holds. The company has overcome opposition from unsecured creditors, which helped the court to rule in the company’s favor regarding its crypto assets, though the firm is not allowed to sell any of its stock shares or other assets. Celsius Will Part with All Its Bitcoin Celsius has been feeling the heat as of late. Things started off...

The Consumer Price Index numbers for August are in, and, as always, this caused major volatility within the cryptocurrency markets. At the time of this writing, Ethereum, as well as Bitcoin, are charting initial declines. The US Bureau of Labor Statistics just updated the numbers for the Consumer Price Index for August and they are slightly above expectations. The August inflation locked in at 8.3%, which is 0.2% higher than what experts expected. This represents a 0.1%...