The relevance of cryptocurrencies and digital assets is increasing in the global economic structure. Therefore, almost every country is exploring new ways to inculcate crypto in its financial ecosystem. As a result, developing nations, like Panama, have shown more interest in cryptocurrencies at a state level. Even though the integration of crypto in traditional economies...
Melvin Capital, a hedge fund run by Gabe Plotkin that struggled heavily with losses last year and never quite recovered from the GameStop short squeeze in 2021, is closing its doors. Melvin Capital was once one of the top-performing funds in the world. The very same fund that made billions betting against GM and medallion...
A number of recent Ponzi schemes have utilized decentralized finance (DeFi) infrastructure and the crypto ecosystem to steal from their investors. CFTC charged two Americans with running a cryptocurrency Ponzi scheme that defrauded hundreds of people out of $44 million in recent news. CFTC charges participants in an ongoing features fraud The Commodity Futures Trading...
Goldman Sachs has pointed out that the recent crash in the crypto market will have little effect on the United States economy in the long run. The country is working tirelessly to evade recession as inflation has taken the reins amid the deceleration of growth in the economy. Meanwhile, the crypto market has been a...
The Commonwealth Bank has announced the suspension of the crypto-based testing currently going on inside its app. According to the statement, the Australian bank was in the process of a second pilot test to test crypto services inside its application. This test is coming after its success in the first pilot test. However, this new...
The CEO of the investment company Galaxy Digital, Michael Novogratz, finally speaks out about the recent financial disaster in the Terra ecosystem. Michael Novogratz is a known supporter of the Terra ecosystem, including its Luna cryptocurrency and so-called stablecoin TerraUSD (UST). Mike Novogratz keeps his LUNA tattoo as a reminder that investing requires humility In...
The global financial situation is bleak at the moment. The cryptocurrency industry has suffered the most, and its consequences have been harsh. The Terra LUNA and UST market crashes have devastated investors. Do Kwon, the founder’s ethnicity being South Korean, has left the government of South Korea to handle the aftermath. South Korean government revives...
Amid LUNA‘s fall out three important legal team members left TFL. The resignation of Terraform Lab’s legal team members resulted in the project facing difficulty. This came into the news through the Linkedin accounts of those members. It resulted in the fall out of LUNA and UST, and as a result, crypto-assets lost their value...
90% of the initial voters rejected Do Kwon’s proposal to hard fork the Terra blockchain. Initially, Kwon submitted the poll to the Terra community with only one simple question: “Fork?” On its face, it appears that a majority of those polled would like to avoid seeing the blockchain forked. Do Kwon pushes forward Terra’s revival...
Financial Times, in their latest announcement, said that Japanese investment bank Nomura will start a new firm focusing on cryptocurrencies, decentralized financing (Defi), and non-fungible tokens (NFTs) for corporate investors. Additionally, this move will give institutional access to digital assets. According to the Financial Times, Nomura wants to hire roughly 100 individuals for the subsidiary...