Technology

Iran Blocks 9,200 Bank Accounts Over Suspicious Foreign Currency, Crypto Transactions

May 17, 2022 0

Iran’s Ministry of Intelligence has reportedly blocked almost 10,000 bank accounts over suspicious foreign currency and cryptocurrency transactions. The action was carried out in collaboration with the country’s central bank. 9,219 Bank Accounts Blocked Iran’s Ministry of Intelligence issued a

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Former Fed Chair Bernanke: Bitcoin Is Mainly Used in Underground Economy for Illicit Activities

May 17, 2022 0

Former Federal Reserve chairman Ben Bernanke says the main use of bitcoin is “mostly for underground economy activities and often things that are illegal or illicit.” He added, “I don’t think bitcoin is going to take over as an alternative form of money.” Ben Bernanke on Bitcoin, Cryptocurrency Former Federal Reserve chairman Ben Bernanke shared […]

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Grayscale Launches European ETF While Urging SEC to Approve GBTC Conversion Into Spot Bitcoin ETF

May 16, 2022 0

Grayscale Investments has announced the launch of an exchange-traded fund (ETF) in Europe. The company’s Future of Finance UCITS ETF will list on the London Stock Exchange (LSE), Borsa Italiana, and Deutsche Börse Xetra. Grayscale Launches ETF in Europe Grayscale Investments, the world’s largest digital asset manager, announced Monday the launch of its first European […]

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China Backed Publication: Terra LUNA Crash Vindicates Country’s Ban on Crypto-Related Activities

May 16, 2022 0

An op-ed article published in the state-backed Chinese publication Economic Daily, has suggested that the recent crash of the Terra blockchain’s LUNA and the de-pegging of the UST stablecoin vindicate the Asian country’s decision to ban crypto-related activities. In the article, the author names the interest rate hikes by the U.S. Federal Reserve and the […]

Technology

Finder’s Poll Conducted Weeks Before Terra’s Fallout Predicted LUNA Would Tap $143 This Year

May 16, 2022 0

Just recently, the product comparison platform finder․com polled 36 fintech specialists about the cryptocurrency terra (LUNA) before terrausd (UST) lost its parity with the U.S. dollar. According to the poll, Finder’s experts predicted LUNA would be $143 before the end of the year. Currently, LUNA is worth far less than a U.S. penny and while […]

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Biggest Movers: XMR and SOL Higher on Monday

May 16, 2022 0

Despite BTC and ETH trading lower on Monday, several cryptocurrencies managed to move higher to start the week. XMR was one of the biggest climbers, with solana also moving higher during the session. Monero (XMR) XMR was one of Monday’s biggest gainers, as prices rose by almost $20 from lows during Sunday’s session. Following a […]

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CZ Says Binance Supports Proposal to Compensate LUNA Retail Users First

May 16, 2022 0

Binance’s Changpeng Zhao (CZ) has said the exchange supports the proposal to compensate retail LUNA users ahead of larger investors. He also said the LUNA tokens received by Binance in exchange for a $3 million investment in Terra have not been sold or moved. Binance’s LUNA Tokens Not Sold After his exchange faced criticism for […]

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Circle Says USDC Reserve Backed Entirely in Cash and Short-Dated US Treasuries

May 16, 2022 0

On May 13, Circle’s chief financial officer Jeremy Fox-Geen published a blog post called “How to Be Stable,” following the aftermath of Terra’s stablecoin implosion. Circle’s CFO explained that since usd coin’s inception, the stablecoin aims to be “the most transparent and trusted dollar digital currency.” Terra’s Stablecoin De-Pegging Incident Has Cast a Spotlight on […]

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Bitcoin, Ethereum Technical Analysis: BTC Below $30,000 to Start the Week

May 16, 2022 0

Following a volatile weekend of trading, cryptocurrency prices consolidated to start the week, with BTC close to its long-term floor. Overall, bitcoin was trading marginally below $30,000, with ETH hovering slightly above $2,000. Bitcoin BTC started the week trading below $30,000 following a volatile weekend of trading, which saw prices mainly consolidate. Following a rise

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David Marcus Launches Bitcoin Payments Startup Lightspark

May 16, 2022 0

David Marcus, former cryptocurrency head at Meta, is launching Lightspark, another payments company that will use crypto as its central payment tool. The startup, which will have Marcus at the helm as CEO, also features some of Meta’s former employees and will explore the possibilities of using the layer 2 Lightning Network (LN) as a […]