Litecoin confidential transactions spook Korean exchanges

litecoin-confidential-transactions-spook-korean-exchanges

The two exchanges cited Korea’s Act on the Reporting and Use of Specific Financial Transaction Information, a law that requires crypto exchanges to put in place KYC and AML systems. The recent privacy-focused MimbleWimble upgrade on the Litecoin (LTC) blockchain has prompted two of Korea’s largest crypto exchanges to issue investment warnings about the fifth-largest … Read more

Bearish head and shoulders pattern forces Ethereum traders to re-adjust their price targets

bearish-head-and-shoulders-pattern-forces-ethereum-traders-to-re-adjust-their-price-targets

Traders say Ethereum needs a monthly close above $2,250 to regain bullish momentum, but a bearish technical analysis pattern on the weekly timeframe threatens to push ETH price to new lows first. Crypto markets remain volatile and a handful of seasoned traders believe that the bearish trend will continue as long as stock markets are … Read more

Indian government’s ‘blockchain not crypto’ stance highlights lack of understanding

indian-government’s-‘blockchain-not-crypto’-stance-highlights-lack-of-understanding

India’s “blockchain, not crypto” stance has led to disastrous crypto policies, forcing several thriving crypto firms to relocate. Indian crypto businesses are struggling with the new tax policies as trading volumes have dried up and many established crypto firms are looking to relocate to more crypto-friendly jurisdictions. While many developed countries and even several of … Read more

FTX US to launch stock trading against stablecoins

ftx-us-to-launch-stock-trading-against-stablecoins

FTX Stocks will allow retail investors to fund their accounts with fiat-backed stablecoins like USD Coin via the FTX US crypto exchange. Major cryptocurrency exchange FTX is moving into equity trading, with its United States-based subsidiary FTX US launching a stock trading platform. West Realm Shires Services, the owner and operator of FTX US, announced … Read more

Socios fan tokens rally 40%+ after Chiliz rolls out mainnet upgrade and token burn plan

socios-fan-tokens-rally-40%+-after-chiliz-rolls-out-mainnet-upgrade-and-token-burn-plan

A new exchange listing, mainnet launch and competitive token burn mechanism led to a sharp rally in Socios fan tokens. In times of high stress and market turmoil, sports entertainment has served as a valuable escape for people around the world as they get a chance to root for their favorite players and teams while … Read more

Was Terra’s UST cataclysm the canary in the algorithmic stablecoin coal mine?

was-terra’s-ust-cataclysm-the-canary-in-the-algorithmic-stablecoin-coal-mine?

After an earthquake, there are always aftershocks. The collapse of UST could be a sign that other stablecoins are also critically flawed. The past week has not been an easy one. After the collapse of the third-largest stablecoin (UST) and what used to be the second-largest blockchain after Ethereum (Terra), the depeg contagion seems to … Read more

BitMEX launches spot crypto exchange following $30M penalty

bitmex-launches-spot-crypto-exchange-following-$30m-penalty

Founded in 2014, BitMEX is one of the world’s oldest crypto trading platforms, but it has never offered spot crypto trading till now. Global crypto derivatives exchange BitMEX is expanding its platform beyond just derivatives by finally launching a spot crypto trading platform. BitMEX officially announced on May 17 that its spot crypto exchange, the … Read more

Crypto.com unblocks users, reverses glitched LUNA trades that made 30-40x

crypto.com-unblocks-users,-reverses-glitched-luna-trades-that-made-30-40x

On May 13, Crypto.com abruptly barred users from trading after an internal tool detected the system quoting incorrect prices for LUNA. Crypto.com was one of the few crypto exchanges to keep LUNA trades open as Terra’s death spiral saw an unrecoverable price crash of LUNA and stablecoin UST. However, a technical glitch on Crypto.com’s mobile … Read more

Failed exit? Traders complain Crypto.com reversed profitable LUNA transactions

failed-exit?-traders-complain-crypto.com-reversed-profitable-luna-transactions

Terra’s death spiral resulted in the mispricing of LUNA tokens on the popular cryptocurrency exchange. Traders aren’t happy with the compensation. Cryptocurrency exchange Crypto.com has halted the trading of Terra (LUNA) tokens after it determined that user transactions were quoted at an “incorrect price,” prompting severe backlash from the community. In a Friday news release, … Read more

Crypto-associated stocks hammered as COIN and HOOD drop to record lows

crypto-associated-stocks-hammered-as-coin-and-hood-drop-to-record-lows

The stock price of listed BTC mining companies and other businesses with exposure to cryptocurrency are dropping to yearly lows as the crypto market continues to sell-off. Bad news continues to dominate crypto media headlines and May 12’s juiciest tidbit was the unexpected collapse of the Terra ecosystem. In addition to the weakness seen in … Read more