Keith Johnson, a U.S. investor in the Dogecoin cryptocurrency, has filed a US$258 billion class-action lawsuit against Elon Musk and two of the companies he heads, alleging illegal behavior to manipulate the memecoin’s price. See related article: What is the real value of joke coins like Dogecoin and SHIB? Fast facts The lawsuit alleges: “Since…
USD Coin (USDC) creator Circle announced on Thursday it will release the Euro Coin (EUROC), a redeemable stablecoin pegged to the euro, on June 30. See related story: US$500 mln in USDC added to TRON DAO USDD reserve Fast facts Ethereum-based EUROC will join Circle’s USDC, which is the world’s second-largest stablecoin with over US$54…
Huobi Thailand will shut its cryptocurrency trading platform’s Thailand unit on July 1 after the country’s Securities and Exchange Commission (SEC) revoked its license. See related article: Can Thailand emerge as a ‘crypto-positive’ travel destination? Fast facts Huobi Thailand said the firm will no longer have any connections or legal bindings with Huobi Group following…
Terra’s LUNA/UST death spiral was entirely predictable — and it served as a stress test for better-designed stablecoins, writes Gytis Trilikauskis of MEV Capital.
Top blockchain and crypto news: Cryptos sink as inflation rises. Celsius freeze sends CEL token tumbling. Are Inner Mongolia’s miners catching a break?
Crypto markets posted some gains in Asia trading after a pummeling this week, but the sentiment shifted back to negative as markets across the board try to second-guess the Federal Reserve’s thinking on interest rates.
After what seems like a dead cat bounce, cryptocurrencies are falling again in Asian trade as markets head into the Federal Reserve’s announcement of its decision on interest rates on June 15.
Amid the ongoing insolvency risk, crypto lender Celsius has hired restructuring attorneys from the law firm Akin Gump Strauss Hauer & Feld LLP, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. See related article: CEL down over 50% since Celsius Network’s withdrawal freeze Fast facts Celsius is exploring financing options…
U.S.-based cryptocurrency exchange Coinbase will cut its global workforce by about 18% to ensure it stays “healthy during this economic downturn,” CEO Brian Armstrong said in a blog post. See related article: Coinbase is the first crypto firm to make the Fortune 500 list Fast facts Coinbase will cut approximately 1,100 employees, or 18% of…
Still recovering from the Terra-LUNA debacle that wiped off billions of dollars in investor wealth, people sold off cryptocurrencies amid a market slump over expectations that the Fed will act faster to tame inflation.