❌Terraform Labs CEO liquidated the company days before LUNA and UST’s collapse
📃Terraform Labs CEO Do Kwon applied to liquidate the company’s headquarters in Busan and offices in Seoul on April 30, days before the network collapsed. On May 4 and 6, the application was approved by authorities, after which Terraform Labs ceased its legal existence in South Korea. This was reported by a Reddit user, citing relevant documents.
https://getblock.net/en/news/terraform-labs-ceo-liquidated-the-company-days-before-luna-and-usts-collapse
📃Terraform Labs CEO Do Kwon applied to liquidate the company’s headquarters in Busan and offices in Seoul on April 30, days before the network collapsed. On May 4 and 6, the application was approved by authorities, after which Terraform Labs ceased its legal existence in South Korea. This was reported by a Reddit user, citing relevant documents.
https://getblock.net/en/news/terraform-labs-ceo-liquidated-the-company-days-before-luna-and-usts-collapse
☝️Litecoin network strengthened privacy after upgrade
🌪On May 20, the MimbleWimble Extension Block (MWEB) upgrade was launched on the Litecoin mainnet. The new protocol uses CoinJoin, a mixing mechanism, and increases the level of transaction privacy. According to chief developer David Burkett, MWEB will expand the possibilities of using Litecoin as a means of payment.
https://getblock.net/en/news/litecoin-network-strengthened-privacy-after-upgrade
🌪On May 20, the MimbleWimble Extension Block (MWEB) upgrade was launched on the Litecoin mainnet. The new protocol uses CoinJoin, a mixing mechanism, and increases the level of transaction privacy. According to chief developer David Burkett, MWEB will expand the possibilities of using Litecoin as a means of payment.
https://getblock.net/en/news/litecoin-network-strengthened-privacy-after-upgrade
⚖️BitMEX co-founder sentenced to six months house arrest
📋The co-founder and former CEO of the BitMEX cryptocurrency exchange, Arthur Hayes, received six months of house arrest and two years’ probation. In October 2020, Hayes and two other BitMEX founders, Benjamin Delo and Samuel Reed were charged with violating the Bank Secrecy Act, which requires the creation of protective measures such as verifying the identities of the exchange’s customers in the United States.
https://getblock.net/en/news/bitmex-co-founder-sentenced-to-six-months-house-arrest
📋The co-founder and former CEO of the BitMEX cryptocurrency exchange, Arthur Hayes, received six months of house arrest and two years’ probation. In October 2020, Hayes and two other BitMEX founders, Benjamin Delo and Samuel Reed were charged with violating the Bank Secrecy Act, which requires the creation of protective measures such as verifying the identities of the exchange’s customers in the United States.
https://getblock.net/en/news/bitmex-co-founder-sentenced-to-six-months-house-arrest
☝️Wormhole protocol paid out $10 million to white hacker
💰The developers of the Wormhole cross-chain protocol paid a white hat hacker $10 million as a reward for discovering a critical vulnerability. An unknown person under the nickname satya0x reported a vulnerability in the smart contract, with which attackers could have blocked all users’ assets. According to the developers’ blog, the hacker identified it back on February 24, 2022.
https://getblock.net/en/news/wormhole-protocol-paid-out-10-million-to-white-hacker
💰The developers of the Wormhole cross-chain protocol paid a white hat hacker $10 million as a reward for discovering a critical vulnerability. An unknown person under the nickname satya0x reported a vulnerability in the smart contract, with which attackers could have blocked all users’ assets. According to the developers’ blog, the hacker identified it back on February 24, 2022.
https://getblock.net/en/news/wormhole-protocol-paid-out-10-million-to-white-hacker
⚽️Manchester City FC to release its own NFTs with player images
🤝English Premier League football club Manchester City will release an NFT collection with 3D images of players. There will be four drops of the team’s non-fungible tokens at the end of the season. Manchester City representatives have already signed a partnership agreement with Quidd, an NFT marketplace.
https://getblock.net/en/news/manchester-city-fc-to-release-its-own-nfts-with-player-images
🤝English Premier League football club Manchester City will release an NFT collection with 3D images of players. There will be four drops of the team’s non-fungible tokens at the end of the season. Manchester City representatives have already signed a partnership agreement with Quidd, an NFT marketplace.
https://getblock.net/en/news/manchester-city-fc-to-release-its-own-nfts-with-player-images
🖼OpenSea launched an NFT exchange feature
🗣The OpenSea NFT marketplace has announced the launch of its new Seaport protocol, which will allow exchanging of non-fungible tokens. The platform’s customers will be able to transfer NFT without using trading tokens. According to the developers, OpenSea will not control or operate Seaport.
https://getblock.net/en/news/opensea-launched-an-nft-exchange-feature/
🗣The OpenSea NFT marketplace has announced the launch of its new Seaport protocol, which will allow exchanging of non-fungible tokens. The platform’s customers will be able to transfer NFT without using trading tokens. According to the developers, OpenSea will not control or operate Seaport.
https://getblock.net/en/news/opensea-launched-an-nft-exchange-feature/
📊Tether co-founder called the impact of Terra’s collapse on the crypto market insignificant
🗣Bitcoin Foundation chairman and Tether co-founder Brock Pierce said that the collapse of the Terra ecosystem has not negatively impacted the crypto market, even though the project gained significant scale in a short period of time. Pierce cited the main problem as the fact that people trusted Terra early. He also warned investors against putting too much trust in other new projects.
https://getblock.net/en/news/tether-co-founder-called-the-impact-of-terras-collapse-on-the-crypto-market-insignificant/
🗣Bitcoin Foundation chairman and Tether co-founder Brock Pierce said that the collapse of the Terra ecosystem has not negatively impacted the crypto market, even though the project gained significant scale in a short period of time. Pierce cited the main problem as the fact that people trusted Terra early. He also warned investors against putting too much trust in other new projects.
https://getblock.net/en/news/tether-co-founder-called-the-impact-of-terras-collapse-on-the-crypto-market-insignificant/
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❗Bank of America called the reason for Terra’s collapse
🤔The Bank of America (BofA) has called a possible reason for the collapse of the Terra ecosystem. According to the bank’s analysts, the project team was focused on adopting the TerraUSD (UST) stablecoin rather than maintaining its rate. Experts added that UST was not backed by traditional assets.
https://getblock.net/en/news/bank-of-america-called-the-reason-for-terras-collapse
🤔The Bank of America (BofA) has called a possible reason for the collapse of the Terra ecosystem. According to the bank’s analysts, the project team was focused on adopting the TerraUSD (UST) stablecoin rather than maintaining its rate. Experts added that UST was not backed by traditional assets.
https://getblock.net/en/news/bank-of-america-called-the-reason-for-terras-collapse
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☝SWIFT srtarted testing international payments in CBDCs
💳SWIFT, a payment operator, in cooperation with the consulting company Capgemini, has started testing international transfers using central bank digital currencies (CBDCs). A report on the SWIFT website states that this is a new step towards seamless cross-border payments using national digital currencies.
https://getblock.net/en/news/swift-srtarted-testing-international-payments-in-cbdcs
💳SWIFT, a payment operator, in cooperation with the consulting company Capgemini, has started testing international transfers using central bank digital currencies (CBDCs). A report on the SWIFT website states that this is a new step towards seamless cross-border payments using national digital currencies.
https://getblock.net/en/news/swift-srtarted-testing-international-payments-in-cbdcs
🙌How Terra developers could have saved the project. Binance’s head opinion
🔥The CEO of cryptocurrency exchange Binance, Changpeng Zhao, said that the collapse of the Terra ecosystem could have been avoided. According to him, the project team needed to use its reserves to do so when the UST stablecoin rate deviated from the US dollar by 5%. Zhao noted that when the value of the coins had already fallen by 99%, the company tried to use $3 billion to restore the peg, but it no longer worked.
https://getblock.net/en/news/how-terra-developers-could-have-saved-the-project-binances-head-opinion
🔥The CEO of cryptocurrency exchange Binance, Changpeng Zhao, said that the collapse of the Terra ecosystem could have been avoided. According to him, the project team needed to use its reserves to do so when the UST stablecoin rate deviated from the US dollar by 5%. Zhao noted that when the value of the coins had already fallen by 99%, the company tried to use $3 billion to restore the peg, but it no longer worked.
https://getblock.net/en/news/how-terra-developers-could-have-saved-the-project-binances-head-opinion
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💥 Cryptocurrency price dynamics 23.05.2022💥
All crypto-assets in the top 10 by market capitalization are in the green zone today:
⬆️ Avalanche showed the biggest gain overnight: +6.0%.
🟢 BTC - $ 30 369,82 (+3.3%)
🟢 ETH - $ 2 048,87 (+3.8%)
🟢 BNB - $ 324,64 (+3.2%)
🟢 XRP - $ 0,422335 (+2.5%)
🟢 ADA - $ 0,545306 (+3.3%)
🟢 SOL - $ 52,79 (+5.3%)
🟢 DOGE - $ 0,086607 (+1.7%)
🟢 DOT - $ 10,23 (+1.7%)
🟢 AVAX - $ 31,42 (+6.0%)
🟢 TRX - $ 0,077799 (+4.8%)
All crypto-assets in the top 10 by market capitalization are in the green zone today:
⬆️ Avalanche showed the biggest gain overnight: +6.0%.
🟢 BTC - $ 30 369,82 (+3.3%)
🟢 ETH - $ 2 048,87 (+3.8%)
🟢 BNB - $ 324,64 (+3.2%)
🟢 XRP - $ 0,422335 (+2.5%)
🟢 ADA - $ 0,545306 (+3.3%)
🟢 SOL - $ 52,79 (+5.3%)
🟢 DOGE - $ 0,086607 (+1.7%)
🟢 DOT - $ 10,23 (+1.7%)
🟢 AVAX - $ 31,42 (+6.0%)
🟢 TRX - $ 0,077799 (+4.8%)
Bitcoin
Bitcoin gained 6% over the weekend. The asset approached the $31 000 resistance level. The cryptocurrency’s volatility has decreased significantly in recent days. This may indicate that momentum will occur soon, which will take the asset price out of the $29-30 000 range. The bitcoin rate may continue to decline, or it may start to recover.
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-23052022
#BTC #Analytics
Bitcoin gained 6% over the weekend. The asset approached the $31 000 resistance level. The cryptocurrency’s volatility has decreased significantly in recent days. This may indicate that momentum will occur soon, which will take the asset price out of the $29-30 000 range. The bitcoin rate may continue to decline, or it may start to recover.
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-23052022
#BTC #Analytics
📉Avalanche Foundation lost $60 million due to Terra’s collapse
🗣The founder of Avalanche and Ava Labs CEO Emin Gün Sirer reported that his organization lost $60 million due to the collapse of the Terra ecosystem. He revealed that the partnership between the Avalanche Foundation and Terraform Labs was aimed at improving the interoperability of their blockchains.
https://getblock.net/en/news/avalanche-foundation-lost-60-million-due-to-terras-collapse
🗣The founder of Avalanche and Ava Labs CEO Emin Gün Sirer reported that his organization lost $60 million due to the collapse of the Terra ecosystem. He revealed that the partnership between the Avalanche Foundation and Terraform Labs was aimed at improving the interoperability of their blockchains.
https://getblock.net/en/news/avalanche-foundation-lost-60-million-due-to-terras-collapse
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🚫Terraform Labs CEO opposed the burning of LUNA tokens
🔥Terraform Labs CEO Do Kwon called the burning of LUNA tokens a bad idea. In his view, it will not restore the Terra ecosystem, furthermore, the holders will lose their assets. Despite this statement, the Terra CEO has provided a wallet address for the burn of LUNA coins.
https://getblock.net/en/news/terraform-labs-ceo-opposed-the-burning-of-luna-tokens
🔥Terraform Labs CEO Do Kwon called the burning of LUNA tokens a bad idea. In his view, it will not restore the Terra ecosystem, furthermore, the holders will lose their assets. Despite this statement, the Terra CEO has provided a wallet address for the burn of LUNA coins.
https://getblock.net/en/news/terraform-labs-ceo-opposed-the-burning-of-luna-tokens
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☝Russian court recognized cryptocurrency as a means of payment for the first time
⚖️The St. Petersburg City Court recognized 55 million Russian rubles (RUB) in digital currency as a means of payment in a trial. In 2018, the victim G.A. Shemet handed over 5 million RUB in cash and 55 million RUB worth of cryptocurrency to the attackers. At that time, the court took into account only 5 million RUB and noted that cryptocurrency “is not a means of payment within the Russian Federation, therefore it cannot be recognized as an object of civil rights and the subject of a crime.”
https://getblock.net/en/news/russian-court-recognized-cryptocurrency-as-a-means-of-payment-for-the-first-time
⚖️The St. Petersburg City Court recognized 55 million Russian rubles (RUB) in digital currency as a means of payment in a trial. In 2018, the victim G.A. Shemet handed over 5 million RUB in cash and 55 million RUB worth of cryptocurrency to the attackers. At that time, the court took into account only 5 million RUB and noted that cryptocurrency “is not a means of payment within the Russian Federation, therefore it cannot be recognized as an object of civil rights and the subject of a crime.”
https://getblock.net/en/news/russian-court-recognized-cryptocurrency-as-a-means-of-payment-for-the-first-time
📢ECB chief executive said about the lack of cryptocurrency collateral
💵European Central Bank (ECB) President Christine Lagarde said that cryptocurrencies are not secured and should be regulated to protect investors from speculation. She also contrasted cryptocurrencies with the digital euro, which could be issued in the next four years through the ECB’s efforts, Bloomberg reports.
https://getblock.net/en/news/ecb-chief-executive-said-about-the-lack-of-cryptocurrency-collateral
💵European Central Bank (ECB) President Christine Lagarde said that cryptocurrencies are not secured and should be regulated to protect investors from speculation. She also contrasted cryptocurrencies with the digital euro, which could be issued in the next four years through the ECB’s efforts, Bloomberg reports.
https://getblock.net/en/news/ecb-chief-executive-said-about-the-lack-of-cryptocurrency-collateral
📋Circle started publishing weekly reports on USDC stablecoin reserves
💭Circle (the issuer of the USDC stablecoin) CEO Jeremy Allaire has announced that the company will publish weekly reports on the asset’s reserves. This move is intended to increase USDC’s transparency operation amid the TerraUSD (UST) rate crash and problems with pegging other stablecoins to the US dollar.
https://getblock.net/en/news/circle-started-publishing-weekly-reports-on-usdc-stablecoin-reserves
💭Circle (the issuer of the USDC stablecoin) CEO Jeremy Allaire has announced that the company will publish weekly reports on the asset’s reserves. This move is intended to increase USDC’s transparency operation amid the TerraUSD (UST) rate crash and problems with pegging other stablecoins to the US dollar.
https://getblock.net/en/news/circle-started-publishing-weekly-reports-on-usdc-stablecoin-reserves
⚡️Journalists reported insider trading on the largest crypto exchanges
📊The crypto market has seen cases of insider trading on leading global platforms — Binance, FTX, and Coinbase. These are the conclusions reached by The Wall Street Journal’s (WSJ) journalists after studying a report by the analytics firm Argus on the abnormal behavior of various crypto wallets. In question is buying tokens days before the official announcement of the listing on exchanges.
https://getblock.net/en/news/journalists-reported-insider-trading-on-the-largest-crypto-exchanges
📊The crypto market has seen cases of insider trading on leading global platforms — Binance, FTX, and Coinbase. These are the conclusions reached by The Wall Street Journal’s (WSJ) journalists after studying a report by the analytics firm Argus on the abnormal behavior of various crypto wallets. In question is buying tokens days before the official announcement of the listing on exchanges.
https://getblock.net/en/news/journalists-reported-insider-trading-on-the-largest-crypto-exchanges
💰Activity on the Ethereum Name Service exceeded the all-time high
📈Interest in the Ethereum Name Service (ENS), a domain name service, has reached record levels. This is demonstrated by the latest data on new registrations and renewals of existing domains.
https://getblock.net/en/news/activity-on-the-ethereum-name-service-exceeded-the-all-time-high/
📈Interest in the Ethereum Name Service (ENS), a domain name service, has reached record levels. This is demonstrated by the latest data on new registrations and renewals of existing domains.
https://getblock.net/en/news/activity-on-the-ethereum-name-service-exceeded-the-all-time-high/
🔮Blockchain fund founder predicted cryptocurrency market correction over the next 1,5 years
🗣Delta Blockchain Fund founder Kavita Gupta said that a decline in major cryptocurrencies will continue over the next year and a half and that the bitcoin price might decrease to $14 000 during that period.
https://getblock.net/en/news/blockchain-fund-founder-predicted-cryptocurrency-market-correction-over-the-next-15-years
🗣Delta Blockchain Fund founder Kavita Gupta said that a decline in major cryptocurrencies will continue over the next year and a half and that the bitcoin price might decrease to $14 000 during that period.
https://getblock.net/en/news/blockchain-fund-founder-predicted-cryptocurrency-market-correction-over-the-next-15-years
☝Analyst called three promising altcoins with low capitalization
📊Cryptocurrency analyst Michaël van de Poppe sees Polygon (MATIC), Zilliqa (ZIL), and XCAD Network (XCAD) as the most promising low-cap altcoins. In his view, these tokens have a chance to grow in price.
https://getblock.net/en/news/analyst-called-three-promising-altcoins-with-low-capitalization
📊Cryptocurrency analyst Michaël van de Poppe sees Polygon (MATIC), Zilliqa (ZIL), and XCAD Network (XCAD) as the most promising low-cap altcoins. In his view, these tokens have a chance to grow in price.
https://getblock.net/en/news/analyst-called-three-promising-altcoins-with-low-capitalization