Terra plunges back to earth as UST stablecoin loses dollar peg
Top blockchain and crypto news: UST knocked out of Luna orbit. Making NFTs Instagrammable. China’s black market ‘digital collectibles’ trade.
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Terra’s UST fiasco cited by Yellen, who warns about stablecoins
U.S. Treasury Secretary Janet Yellen reiterated her stance on stablecoin regulations and said it’s “highly appropriate” to have a framework ready by the end of this year, as TerraUSD (UST) loses its dollar peg. See related article: Run on UST cuts the ground from under Terra’s feet Fast facts Yellen said at a Tuesday hearing…
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Run on UST cuts the ground from under Terra’s feet
A probable run on terraUSD (UST) has weighed on the ability of the company and the non-profit behind the pioneering stablecoin project to defend its dollar peg.
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Three Australian crypto ETFs to debut on Thursday after delays
Australia’s first cryptocurrency exchange-traded funds (ETFs) are set to go live on Thursday May 12 on the country’s Cboe exchange after delays kept the financial products off the market for two weeks. See related article: Launch of three crypto ETFs in Australia delayed Fast facts Three funds were initially announced for listing in late April…
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UST loses dollar peg as Terra market cap slumps
Terra’s dollar-pegged stablecoin, terraUSD (UST), “depegged” for the second time this week, dropping to as low as US$0.6841 in Tuesday morning trading in Asia, according to CoinMarketCap. It has since recovered slightly. See related article: What are stablecoins, and why are some governments so afraid of them? Fast facts Terra’s price also dropped by over…
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China’s diktat against NFT flipping spawns an ingenious industry
Despite Beijing’s rhetoric against speculation in non-fungible tokens, some in mainland China are trading on WeChat groups, spawning an industry that caters to the fervor over the asset class.
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Wildlife conservatory Australia Zoo announces NFT project with Algorand
Australia Zoo, a wildlife conservatory related to the family of noted conservationist Steve Irwin, has announced a non-fungible token (NFT) series on the green blockchain Algorand to celebrate the 20th anniversary of its Wildlife Warriors conservation project. See related article: Algorand becomes 2022 Qatar World Cup’s new blockchain partner Fast facts Created in partnership with…
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Indian crypto exchanges ordered to record customer data for five years
The Indian Ministry of Electronics and IT has issued a new directive that requires cryptocurrency exchanges to collect and preserve a wide range of client data for five years, 60 days after the date of issuance on April 28. See related article: Indians see future in crypto, government sees revenue, FM says Fast facts “During…
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Canada’s 3iQ could be first to launch Australian crypto ETF
Last-minute delays to three Australian cryptocurrency exchange-traded funds (ETFs) could allow Toronto-based 3iQ Digital Asset Management to launch the first of such products in the country, the Australian Financial Review reported. See related article: Launch of three crypto ETFs in Australia delayed Fast facts The Canadian firm lodged disclosure documents with the Australian Securities and…
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BTC Markets partners with Australian Fashion Week for couture NFT
Australian crypto exchange BTC Markets Pty Ltd has partnered with the 2022 Australian Fashion Week (AFW) in launching a couture dress as a non-fungible token (NFT) in collaboration with local designer Daniel Avakian. See related articles: How high fashion is waking up to blockchain’s possibilities Fast facts The dress will be displayed physically during the…