Crypto lenders boomed during the COVID-19 pandemic. D depositors with high-interest rates. They, however, tumbled in recent months. Following a crash in cryptocurrency prices. Celsius froze withdrawals and transfers last month. Citing “extreme” market conditions. U.S. crypto loan specialist Celsius Network said on Wednesday it has petitioned for financial protection, turning into the most recent … Read more
EU lawmakers agree on ground-breaking rules for regulating crypto assets, EU lawmakers said on Thursday. Crypto assets are largely unregulated, with national operators in the EU only required to show controls. The new law is expected to come into force around the end of 2023. The European Union has settled on momentous standards for managing … Read more
Another awful day for crypto markets. The market is still nervous following the massive sell-off caused by the insecurity of stablecoin TerraUSD (UST). This stablecoin exploded earlier this week after failing to maintain its one-to-one peg with the US dollar. UST is now trading for less than $0.045. Terra protocol’s LUNA token, which was developed … Read more
TLuna, the sibling cryptocurrency of the contentious stablecoin TerraUSD, has plummeted to less than $0. TerraUSD, or UST, has been thrust into the limelight in recent days when the so-called stablecoin, which is intended to be tied one-to-one with the US dollar, plummeted below $1. UST is a code-based algorithmic stablecoin that uses a sophisticated … Read more
Bitcoin investors are panicking as the terraUSD stablecoin continues to drift away from its intended $1 peg. Late Monday, TerraUSD, or UST, fell below 70 cents for the first time, as holders fled the token in what some have dubbed a “bank run.” According to Coinbase data, the coin plummeted as low as 62 cents … Read more
