↩️Terra community proposed rolling back the network before the collapse of the UST stablecoin rate
💻Terra’s official Twitter account reposted a post by a user nicknamed stablechen, stating that the community has decided to roll back the network prior to the beginning of the collapse of the TerraUSD (UST) stablecoin rate. The community also suggests removing Terraform Labs, returning the UST collateral, and developing a new mechanism for the LUNA token.
https://getblock.net/en/news/terra-community-proposed-rolling-back-the-network-before-the-collapse-of-the-ust-stablecoin-rate
💻Terra’s official Twitter account reposted a post by a user nicknamed stablechen, stating that the community has decided to roll back the network prior to the beginning of the collapse of the TerraUSD (UST) stablecoin rate. The community also suggests removing Terraform Labs, returning the UST collateral, and developing a new mechanism for the LUNA token.
https://getblock.net/en/news/terra-community-proposed-rolling-back-the-network-before-the-collapse-of-the-ust-stablecoin-rate
🎓South Korea to institutionalize cryptocurrencies by 2024
📝By 2024, South Korea’s administration under new President t Yoon Suk-yeol will develop a new regulatory framework to institutionalize cryptocurrency. According to local media reports, citing a leaked government report, a draft for the “Digital Asset Basic Act” will be introduced as early as 2022. The presidential administration confirmed the validity of the leak but noted that the released documents are not the final versions.
https://getblock.net/en/news/south-korea-to-institutionalize-cryptocurrencies-by-2024/
📝By 2024, South Korea’s administration under new President t Yoon Suk-yeol will develop a new regulatory framework to institutionalize cryptocurrency. According to local media reports, citing a leaked government report, a draft for the “Digital Asset Basic Act” will be introduced as early as 2022. The presidential administration confirmed the validity of the leak but noted that the released documents are not the final versions.
https://getblock.net/en/news/south-korea-to-institutionalize-cryptocurrencies-by-2024/
💥 Cryptocurrency rate dynamics 14.05.2022💥
Almost all crypto assets in the top 10 by market capitalization are in the "red zone" today:
⬆️ Polkadot showed the biggest gain overnight: +4.0%;
⬇️ Cardano showed the biggest decrease: -8.7%.
🔴 BTC - $29,519.05 (-3.4%)
🔴 ETH - $ 2,043.83 (-2.7%)
🔴 BNB - $ 291.80 (-0.2%)
🔴 XRP - $ 0.434610 (-2.7%)
🔴 ADA - $ 0.539745 (-8.7%)
🔴 SOL - $51.91 (-0.3%)
🔴 DOGE - $ 0.090870 (-2.5%)
🟢 DOT - $10.55 (+4.0%)
🔴 AVAX - $32.33 (-7.6%)
🟢 TRX - $0.073963 (+1.8%)
Almost all crypto assets in the top 10 by market capitalization are in the "red zone" today:
⬆️ Polkadot showed the biggest gain overnight: +4.0%;
⬇️ Cardano showed the biggest decrease: -8.7%.
🔴 BTC - $29,519.05 (-3.4%)
🔴 ETH - $ 2,043.83 (-2.7%)
🔴 BNB - $ 291.80 (-0.2%)
🔴 XRP - $ 0.434610 (-2.7%)
🔴 ADA - $ 0.539745 (-8.7%)
🔴 SOL - $51.91 (-0.3%)
🔴 DOGE - $ 0.090870 (-2.5%)
🟢 DOT - $10.55 (+4.0%)
🔴 AVAX - $32.33 (-7.6%)
🟢 TRX - $0.073963 (+1.8%)
📉Real Vision CEO predicted recession and massive liquidations in the crypto market in the coming month
🗣Raoul Pal, a former employee of the investment bank Goldman Sachs and the founder of Real Vision TV, believes that May will be a tough one for the digital asset market. In his view, cryptocurrencies are facing a “nasty recession” and “liquidation write large.” Pal said that the drop in global market demand is because of the US Federal Reserve System’s (Fed) tighter monetary policy. Although the crypto market is in “full panic mode,” the analyst called cryptocurrencies a “long-term investment.” Pal stressed that he sees the coming recession as a huge “opportunity.”
https://getblock.net/en/news/real-vision-ceo-predicted-recession-and-massive-liquidations-in-the-crypto-market-in-the-coming-month
🗣Raoul Pal, a former employee of the investment bank Goldman Sachs and the founder of Real Vision TV, believes that May will be a tough one for the digital asset market. In his view, cryptocurrencies are facing a “nasty recession” and “liquidation write large.” Pal said that the drop in global market demand is because of the US Federal Reserve System’s (Fed) tighter monetary policy. Although the crypto market is in “full panic mode,” the analyst called cryptocurrencies a “long-term investment.” Pal stressed that he sees the coming recession as a huge “opportunity.”
https://getblock.net/en/news/real-vision-ceo-predicted-recession-and-massive-liquidations-in-the-crypto-market-in-the-coming-month
👊SEC said stricter regulation of stablecoins after the UST collapse
🇺🇸The US Securities and Exchange Commission (SEC) may tighten regulation of stablecoins following the collapse of TerraUSD (UST) and the temporary fall of Tether (USDT). According to Commissioner Hester Peirce, the regulator has the ability to include in its powers the development of rules for digital currencies and the platforms on which they are traded. In doing so, she noted the potential for stablecoins to be used in market-based systems.
https://getblock.net/en/news/sec-said-stricter-regulation-of-stablecoins-after-the-ust-collapse
🇺🇸The US Securities and Exchange Commission (SEC) may tighten regulation of stablecoins following the collapse of TerraUSD (UST) and the temporary fall of Tether (USDT). According to Commissioner Hester Peirce, the regulator has the ability to include in its powers the development of rules for digital currencies and the platforms on which they are traded. In doing so, she noted the potential for stablecoins to be used in market-based systems.
https://getblock.net/en/news/sec-said-stricter-regulation-of-stablecoins-after-the-ust-collapse
💰FTX head acquired a $648 million stake in Robinhood
📋Emergent Fidelity Technologies, owned by the head of FTX crypto exchange Sam Bankman-Fried, bought a 7,6% stake in the online broker Robinhood. According to a report filed with the US Securities and Exchange Commission (SEC) on May 12, the total value of the stake was $648,29 million. After that, Robinhood’s stock price rose by more than 30%. As of May 13, 16:15 Moscow time, HOOD’s shares are trading at $8,56.
https://getblock.net/en/news/ftx-head-acquired-a-648-million-stake-in-robinhood
📋Emergent Fidelity Technologies, owned by the head of FTX crypto exchange Sam Bankman-Fried, bought a 7,6% stake in the online broker Robinhood. According to a report filed with the US Securities and Exchange Commission (SEC) on May 12, the total value of the stake was $648,29 million. After that, Robinhood’s stock price rose by more than 30%. As of May 13, 16:15 Moscow time, HOOD’s shares are trading at $8,56.
https://getblock.net/en/news/ftx-head-acquired-a-648-million-stake-in-robinhood
While bitcoin is trying to get out of the pit, other coins, such as CAKE, may be worth considering. The other day, the coin’s community voted to limit the issuance of the token to 750 million CAKE. The proposal was approved by the project team. Previously, the issue of CAKE was unlimited. In this, the coin had almost no reaction to such fundamental news. This may be due to the fact that the market has been closely watching the development of the situation with LUNA and UST in recent days.
According to the chart, in mid-March CAKE came out of the downward movement, in which the cryptocurrency has been since August 2021. After that, the CAKE rate was probably pressured by the bitcoin collapse to $26 700.
The material is not an investment recommendation and is published for information purposes only.
https://getblock.net/en/market-analysis/cake-review-dated-14052022
#CAKE #Analytics
According to the chart, in mid-March CAKE came out of the downward movement, in which the cryptocurrency has been since August 2021. After that, the CAKE rate was probably pressured by the bitcoin collapse to $26 700.
The material is not an investment recommendation and is published for information purposes only.
https://getblock.net/en/market-analysis/cake-review-dated-14052022
#CAKE #Analytics
🇺🇸SEC chief considers it necessary to equate crypto assets with securities
📃The US Securities and Exchange Commission (SEC) chief Gary Gensler has said that most crypto assets should be regulated by his agency. He explained that many cryptocurrencies attract entrepreneurs “raising money from the public in anticipation of profits.” This, according to Gensler, is a characteristic of a security or investment contract, which the SEC has the power to oversee. He reported this at the annual meeting of the International Swaps and Derivatives Association (ISDA).
https://getblock.net/en/news/sec-chief-considers-it-necessary-to-equate-crypto-assets-with-securities
📃The US Securities and Exchange Commission (SEC) chief Gary Gensler has said that most crypto assets should be regulated by his agency. He explained that many cryptocurrencies attract entrepreneurs “raising money from the public in anticipation of profits.” This, according to Gensler, is a characteristic of a security or investment contract, which the SEC has the power to oversee. He reported this at the annual meeting of the International Swaps and Derivatives Association (ISDA).
https://getblock.net/en/news/sec-chief-considers-it-necessary-to-equate-crypto-assets-with-securities
📢Meta Vice President to assemble team to develop Lightning Network
☝David Marcus, ex-Meta (recognized as an extremist organization and banned within the Russian Federation) crypto chief, announced the launch of Lightspark, a new company focused on the development of the Lightning Network. The startup has been backed by investors such as Andreessen Horowitz (a16z), Paradigm, Coatue, and Matrix Partners.
https://getblock.net/en/news/meta-vice-president-to-assemble-team-to-develop-lightning-network/
☝David Marcus, ex-Meta (recognized as an extremist organization and banned within the Russian Federation) crypto chief, announced the launch of Lightspark, a new company focused on the development of the Lightning Network. The startup has been backed by investors such as Andreessen Horowitz (a16z), Paradigm, Coatue, and Matrix Partners.
https://getblock.net/en/news/meta-vice-president-to-assemble-team-to-develop-lightning-network/
👍Robert Kiyosaki called bitcoin’s price crash “great news”
📚American entrepreneur and author of the bestseller “Rich Dad Poor Dad” Robert Kiyosaki called the bitcoin crash “great news.” He noted that he had previously intended to buy BTC when its price fell to $20 000. Now Kiyosaki expects it to drop to $17 000.
https://getblock.net/en/news/robert-kiyosaki-called-bitcoins-price-crash-great-news/
📚American entrepreneur and author of the bestseller “Rich Dad Poor Dad” Robert Kiyosaki called the bitcoin crash “great news.” He noted that he had previously intended to buy BTC when its price fell to $20 000. Now Kiyosaki expects it to drop to $17 000.
https://getblock.net/en/news/robert-kiyosaki-called-bitcoins-price-crash-great-news/
☝️Terraform Labs CEO proposed plan to revive the Terra ecosystem
📉Terraform Labs co-founder Do Kwon made a proposal to restore the Terra ecosystem after the UST stablecoin lost its peg to the dollar and its rate had been dropping to $0,03. Kwon’s idea involves paying compensations to UST and LUNA holders who were unable or unwilling to sell their assets during this week’s price collapse.
https://getblock.net/en/news/terraform-labs-ceo-proposed-plan-to-revive-the-terra-ecosystem
📉Terraform Labs co-founder Do Kwon made a proposal to restore the Terra ecosystem after the UST stablecoin lost its peg to the dollar and its rate had been dropping to $0,03. Kwon’s idea involves paying compensations to UST and LUNA holders who were unable or unwilling to sell their assets during this week’s price collapse.
https://getblock.net/en/news/terraform-labs-ceo-proposed-plan-to-revive-the-terra-ecosystem
⚠️Phishing links to steal cryptocurrency appeared on CoinGecko and Etherscan
👾Cryptocurrency services Etherscan, CoinGecko, DeFi Pulse, and others have reported incidents of a malicious pop-up, offering users to connect their MetaMask crypto wallets. A preliminary investigation revealed that the phishing attack was caused by a malicious ad noscript on the affected sites. A warning for users appeared on Twitter of the Etherscan service.
https://getblock.net/en/news/phishing-links-to-steal-cryptocurrency-appeared-on-coingecko-and-etherscan
👾Cryptocurrency services Etherscan, CoinGecko, DeFi Pulse, and others have reported incidents of a malicious pop-up, offering users to connect their MetaMask crypto wallets. A preliminary investigation revealed that the phishing attack was caused by a malicious ad noscript on the affected sites. A warning for users appeared on Twitter of the Etherscan service.
https://getblock.net/en/news/phishing-links-to-steal-cryptocurrency-appeared-on-coingecko-and-etherscan
😕British blogger lost $2,8 million on the fall of the LUNA rate
📉The British blogger, KSI, tweeted that he lost $2,8 million on the collapse of the Terra (LUNA) token rate. Despite hyperinflation, the blogger has no plans to sell his assets, which are now worth around $1 000. He said he will wait for the rate to recover.
https://getblock.net/en/news/british-blogger-lost-28-million-on-the-fall-of-the-luna-rate
📉The British blogger, KSI, tweeted that he lost $2,8 million on the collapse of the Terra (LUNA) token rate. Despite hyperinflation, the blogger has no plans to sell his assets, which are now worth around $1 000. He said he will wait for the rate to recover.
https://getblock.net/en/news/british-blogger-lost-28-million-on-the-fall-of-the-luna-rate
✈️Emirates airline to start accepting bitcoin payments
✅Dubai airline Emirates will start accepting bitcoin payments. The airline will also add the ability to trade NFTs on its websites and begin developing a metaverse. The virtual space will be used for work tasks, pilot training, and sales. In addition, the company intends to use blockchain technologies to track aircraft.
https://getblock.net/en/news/emirates-airline-to-start-accepting-bitcoin-payments
✅Dubai airline Emirates will start accepting bitcoin payments. The airline will also add the ability to trade NFTs on its websites and begin developing a metaverse. The virtual space will be used for work tasks, pilot training, and sales. In addition, the company intends to use blockchain technologies to track aircraft.
https://getblock.net/en/news/emirates-airline-to-start-accepting-bitcoin-payments
❗️Customers sued Coinbase for listing fake GYEN stablecoin
📃Coinbase customers from the US have filed a class action lawsuit against the cryptocurrency exchange for posting a fake GYEN stablecoin. According to the lawsuit, the price of the token, which is pegged to the Japanese yen, collapsed by 80% the day after trading began, Bloomberg reports. The plaintiffs allege that the issuer of the GMO-Z stablecoin misled about the stability of the coin, resulting in investors suffering losses of millions of dollars.
https://getblock.net/en/news/customers-sued-coinbase-for-listing-fake-gyen-stablecoin/
📃Coinbase customers from the US have filed a class action lawsuit against the cryptocurrency exchange for posting a fake GYEN stablecoin. According to the lawsuit, the price of the token, which is pegged to the Japanese yen, collapsed by 80% the day after trading began, Bloomberg reports. The plaintiffs allege that the issuer of the GMO-Z stablecoin misled about the stability of the coin, resulting in investors suffering losses of millions of dollars.
https://getblock.net/en/news/customers-sued-coinbase-for-listing-fake-gyen-stablecoin/
🇨🇳Chinese court recognized bitcoin as a valuable asset
☝The Shanghai High People’s Court has recognized bitcoin as a valuable asset. During the consideration of one of the cases, the court said that the first cryptocurrency has an economic value and is protected by the country’s laws.
https://getblock.net/en/news/chinese-court-recognized-bitcoin-as-a-valuable-asset
☝The Shanghai High People’s Court has recognized bitcoin as a valuable asset. During the consideration of one of the cases, the court said that the first cryptocurrency has an economic value and is protected by the country’s laws.
https://getblock.net/en/news/chinese-court-recognized-bitcoin-as-a-valuable-asset
💥 Cryptocurrency price dynamics 16.05.2022💥
Almost all crypto-assets in the top 10 by market capitalization are in the green zone today.
⬆️ Solana was the biggest gain overnight: +8.1%,
⬇️ Polkadot saw the biggest drop: -1.6%.
🟢 BTC - $30,322.28 (+1.5%)
🟢 ETH - $ 2,067.80 (+1.5%)
🟢 BNB - $ 300.66 (+2.4%)
🔴 XRP - $ 0.420856 (-0.8%)
🟢 ADA - $ 0.570016 (+6.9%)
🟢 SOL - $55.18 (+8.1%)
🔴 DOT - $11.04 (-1.6%)
🟢 DOGE - $0.089575 (+1.3%)
🟢 AVAX - $ 33.91 (+1.3%)
🟢 SHIB - $ 0.00001234 (+0.7%)
Almost all crypto-assets in the top 10 by market capitalization are in the green zone today.
⬆️ Solana was the biggest gain overnight: +8.1%,
⬇️ Polkadot saw the biggest drop: -1.6%.
🟢 BTC - $30,322.28 (+1.5%)
🟢 ETH - $ 2,067.80 (+1.5%)
🟢 BNB - $ 300.66 (+2.4%)
🔴 XRP - $ 0.420856 (-0.8%)
🟢 ADA - $ 0.570016 (+6.9%)
🟢 SOL - $55.18 (+8.1%)
🔴 DOT - $11.04 (-1.6%)
🟢 DOGE - $0.089575 (+1.3%)
🟢 AVAX - $ 33.91 (+1.3%)
🟢 SHIB - $ 0.00001234 (+0.7%)
❗️Fraudulent group of crypto coaches wanted in Russia
📢The Ministry of Internal Affairs of Tatarstan has issued a wanted notice for four people involved in a fraudulent group of crypto coaches. From February 2017 to October 2021, the criminals engaged in fraud under the guise of learning to trade on crypto exchanges. During this time, they managed to fraudulently earn 53 million Russian rubles (RUB). 12 of the 16 suspects have already been detained by law enforcement agencies.
https://getblock.net/en/news/fraudulent-group-of-crypto-coaches-wanted-in-russia/
📢The Ministry of Internal Affairs of Tatarstan has issued a wanted notice for four people involved in a fraudulent group of crypto coaches. From February 2017 to October 2021, the criminals engaged in fraud under the guise of learning to trade on crypto exchanges. During this time, they managed to fraudulently earn 53 million Russian rubles (RUB). 12 of the 16 suspects have already been detained by law enforcement agencies.
https://getblock.net/en/news/fraudulent-group-of-crypto-coaches-wanted-in-russia/
Bitcoin
After reaching $26 700 on bitcoin’s hourly timeframe, a steady local uptrend could be seen, which may indicate either a reversal or a correction during a global bearish trend. On the morning of May 16, there was a breakout of the local trend line, but there remains a possibility that this is a false breakout and the bitcoin price will return above $30 000 in the coming hours.
The material is not an investment recommendation and is published for information purposes only. Remember: technical analysis does not guarantee successful trading, as it is based on historical data only.
https://getblock.net/en/market-analysis/btc-review-dated-16052022
#BTC #Analytics
After reaching $26 700 on bitcoin’s hourly timeframe, a steady local uptrend could be seen, which may indicate either a reversal or a correction during a global bearish trend. On the morning of May 16, there was a breakout of the local trend line, but there remains a possibility that this is a false breakout and the bitcoin price will return above $30 000 in the coming hours.
The material is not an investment recommendation and is published for information purposes only. Remember: technical analysis does not guarantee successful trading, as it is based on historical data only.
https://getblock.net/en/market-analysis/btc-review-dated-16052022
#BTC #Analytics
🤝TrustWallet сrypto wallet became Instagram partner
💵TrustWallet, a cryptocurrency wallet, has become a partner of the social network Instagram, owned by Meta (recognized as extremist and banned within the Russian Federation). The deal will integrate NFT collections into the social network and support their creators. With a built-in decentralized browser, users of the social network will be able to buy and sell various collectibles.
https://getblock.net/en/news/trustwallet-srypto-wallet-became-instagram-partner
💵TrustWallet, a cryptocurrency wallet, has become a partner of the social network Instagram, owned by Meta (recognized as extremist and banned within the Russian Federation). The deal will integrate NFT collections into the social network and support their creators. With a built-in decentralized browser, users of the social network will be able to buy and sell various collectibles.
https://getblock.net/en/news/trustwallet-srypto-wallet-became-instagram-partner
⛏Illegal mining farm of almost 1500 devices discovered in Dagestan
🔍Employees of the Ministry of the Interior and the Federal Security Service have discovered a large illegal mining farm in Makhachkala. Law enforcers seized 1476 cryptocurrency mining devices during searches. This was reported by the TASS agency with reference to the press service of the Ministry of Internal Affairs of the Republic of Dagestan.
https://getblock.net/en/news/illegal-mining-farm-of-almost-1500-devices-discovered-in-dagestan
🔍Employees of the Ministry of the Interior and the Federal Security Service have discovered a large illegal mining farm in Makhachkala. Law enforcers seized 1476 cryptocurrency mining devices during searches. This was reported by the TASS agency with reference to the press service of the Ministry of Internal Affairs of the Republic of Dagestan.
https://getblock.net/en/news/illegal-mining-farm-of-almost-1500-devices-discovered-in-dagestan