Crypto news

Terra (LUNA)’s price collapse from Monday continues, now tracing down beneath $16 per coin. Meanwhile, the network’s dollar-pegged stablecoin TerraUSD (UST) continues trading at just $0.8, far below its intended $1.00 value peg. LUNA trades at just $15.84 at the time of writing, down 63.13% in the past 24 hours, and 80.74% over the week. The cryptocurrency doubly serves as a governance token for the Terra blockchain, and the reserve asset made to preserve the stability of its...

KuCoin has announced raising $150 million pre-Series B funding round led by Jump Crypto. The event also saw the participation of Circle Ventures, IDG Capital, and Matrix Partners. The valuation of the exchange surged to $10 billion following the financing round. Beyond Centralized Trading According to the official press release, the Seychelles-based firm said it will focus on expanding its reach beyond centralized trading. It wants to strengthen its presence in new areas,...

OK Coin – a popular and large digital currency trading platform – has agreed to take up office space in downtown San Jose, part of the Silicon Valley in northern California. The region is known for hosting a wide array of many of the world’s leading tech companies including Apple, Facebook, and Google. OK Coin Leases Large San Jose Office Space The office address is 160 W. Santa Clara St. and consists of 35,000 square feet. In other words, it’s pretty darn big. OK Coin...

After spending almost a decade working for the Wall Street behemoth – JPMorgan Chase & Co – Guillaume Chatain took the leap towards blockchain and crypto, where he helped establish a regulated digital broker-dealer. As of now, he is the Head of EMEA (Europe, Middle East, and Africa) Sales at the leading US-based cryptocurrency exchange – Coinbase – a position which he occupies for over a year. From JP Morgan to Coinbase: The Future of Finance Chatain made a huge...

Townsquare Media (NYSE: TSQ) – a New York-based radio network and media company – revealed that it purchased $5 million in Bitcoin during Q1 2022 in a recent SEC filing. It claims to believe in the “long-term potential” of Bitcoin – despite being down on its current investment. The filing explains that the company had purchased $5 million in Bitcoin before March 31st of 2022. Its coins are secured through third part custodial services. That said, the Townsquare acknowledges...

Adam Aron – CEO of AMC Theatres – revealed that cryptocurrencies and other digital payment methods accounted for more than a third of the online payments for the company during Q1, 2022. The largest movie theatre chain in the world accepts several digital assets, including Bitcoin, Ether, Litecoin, Bitcoin Cash, Dogecoin, and Shiba Inu. AMC’s Decision to Embrace Crypto Labeled a Success Last year, the entertainment firm jumped into the digital asset ecosystem by allowing...

Binance – the largest and most popular digital currency platform by daily trading volume – says that it is unveiling a new cryptocurrency-based credit card to be used by Ukrainians that have been displaced by the ongoing conflict with Russia. Binance Establishes New Crypto Credit Card for Ukrainians Roughly three months ago, the world watched in horror as Russia invaded Ukraine. Since then, the United States and many of its allies have sought to place sanctions on...

The Indian government’s strict stance on the crypto sector seems to be gathering more steam. In the latest development, the Goods and Service Tax (GST) Council reportedly plans to impose the highest 28% GST slab for crypto activities. Digital Assets at Par With Gambling Quoting unnamed sources, media reports suggested that the thinking in the GST Council is that crypto activities should be treated at par with casinos, lottery, gambling, and horse racing. All these endeavors...

Bitcoin ATM provider Chain Bytes has set up a new machine in the Mexican Senate building. The company is working with bitcoin ATM manufacturer Axolotl Bitcoin to establish the machine’s presence and lead the efforts of Mexican Senator Indira Kempis as a means of establishing bitcoin as official legal tender within the country’s borders. Chain Bytes Establishes Bitcoin ATM for Mexican Lawmakers Eric Grill – the CEO of Chain Bytes – explained in a recent interview: We are...

With Bitcoin’s price on the decline, rumors have buzzed about whether MicroStrategy risks getting liquidated on its $205 million Silvergate loan. On Tuesday, company CEO Michael Saylor cleared the air on how much collateral that loan requires, and how much breathing room they have. MicroStrategy’s Bitcoin Loan As Saylor clarified over Twitter, the loan requires maintenance collateral worth $410 million to stay active – which is twice the value of the loan itself....