FTX Has $2 Billion in Cash to Bailout Strategic Crypto Firms
FTX has $2 billion in cash and will offer credit lines to distressed strategic crypto firms to prevent a contagion.
Crypto News
Exchange
Crypto News
Ethereum
USDC Flips USDT Daily Average Transactions on Ethereum
For the first time in the history of USDC, the stablecoin posted more transactions on the Ethereum network than USDT.
Crypto News
DeFi
Compound Finance Founder Wants DeFi Protocols to be More Transparent
Robert Leshner of Compound Finance protocol said DeFi needs more transparency now than before following collapse of recent crises.
Crypto News
DeFi
Ethereum Whales Prefer USDC over USDT after UST Crash
Ethereum whales, mainly DeFi protocols, custodians, and cryptocurrency exchanges, prefer USDC over USDT following the UST de-peg.
Crypto News
Tether (USDT) is Overcollateralized with over $82 Billion in Reserves
An assurance report by an independent accounting firm suggests that Tether (USDT) is sufficiently backed and is safe.
Crypto News
Regulation
A Victim in Singapore Accuses Terra’ Do Kwon of Running a Ponzi
A victim in Singapore has filed a report with the police, accusing Terra’s Do Kwon of running a Ponzi scheme.
Crypto News
Ethereum
Coinbase Sued for Freezing GYEN Stablecoin Trading, Causing Millions in Losses
Coinbase sued by enraged victims for suspending GYEN trading leading to millions in losses for stablecoin holders.
Crypto News
DeFi
LUNA and UST CEO’s Family Asking for Police Protection
The family of Do Kwon, the face behind LUNA and UST cryptocurrencies, is asking for police protection after a recent break-in.
Crypto News
DeFi
Tether (USDT) is Wobbly Hours after UST Crash
Tether is trading below the $1 peg, a concern that users claim may further heap pressure on crypto assets hours after UST crashed.
Bitcoin
Crypto News
UST Blows its USD Peg, Drops to as Low as $0.69
The UST has broken its peg with the greenback. Subsequent dump of Bitcoin is keeping the crypto market suppressed.