Bitcoin Crypto Signals

2022-05-23 20:02:02 Tether USDT’s $82.4 Billion In Reserves Depegs Investors’ Fears

The old adage “trust is everything” has never been more true than in the world of cryptocurrency. In the aftermath of the Terra collapse, it’s become clear that trust is the most important factor when it comes to stablecoins.

In fact, this couldn’t be more true than in the case of Tether’s USDT stablecoin, which as one of the most popular options in the crypto ecosystem has come under fire in recent years due to its run-ins with the U.S. SEC and concerns about its reserves. As a result, many investors are still hesitant to trust USDT with their money.

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2022-05-22 18:42:02 Brazilian crypto exchange refunds all UST holders 1:1

Brazil-based crypto exchange Nox Bitcoin announced it will spend 620 million Brazilian reais to reimburse UST holders, crypto news outlet Portal do Bitcoin reported.The exchange will make up the difference between the current value of UST ($0.08) to ensure each UST holder has $1 for each 1 UST held.

Nox Bitcoin allowed users to stake their UST to receive a return like many exchanges worldwide. The exchange reportedly staked the tokens on behalf of its customers via Anchor Protocol which offered up to 20% APY on stablecoin staking. The exchange does not appear to have any insurance or guarantee that would require it to reimburse holders. Nox Bitcoin CEO Joao Paulo Oliveira said:Only investors who bought UST before the de-peg will be reimbursed for their tokens. Both LUNA and UST are still listed on Nox Bitcoin, with LUNA down over 99% and UST down over 90%.

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2022-05-21 17:24:02 Terra Community Divided on Do Kwon’s ‘Authoritarian’ Hard Fork Proposal

As UST and LUNA founder Do Kwon struggles to resolve his currencies’ sudden fall from grace, which shocked crypto markets last week, the Terra community has weighed in on Kwon’s new hard fork proposal—and reviews are mixed.

The proposal for the Terra blockchain outlines plans for a hard fork—meaning it’s split off from the original chain, with the new chain operating under new rules. According to the Terra Builder Alliance, some of Terra’s VCs, validators, and others helped create the proposal.In a tweet summarizing the proposal, Kwon suggested that the “old” chain be referred to as Terra Classic going forward. The existing LUNA cryptocurrency (which plunged from an all-time high of $116 to $0.0001733) would be renamed Luna Classic, or LUNC.

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2022-05-20 16:54:02 NFL DEFENSIVE END ALEX BARRETT IS TAKING 100% OF HIS SALARY IN BITCOIN

Alex Barrett, defensive lineman for the San Francisco 49ers, has officially partnered with Bitwage to receive 100% of his paycheck in bitcoin, according to an exclusive press release sent to Bitcoin Magazine.

“I stumbled across Bitwage in a Twitter Spaces room a few months ago when they announced that they were supporting UFC fighter Matheus Nicolau and his journey to get paid in bitcoin,” Barret said. “I was amazed by how Bitwage set this guy up so easily and with VIP service. I thought, ‘why not me?’Shortly after that Twitter Space, Barrett began having meetings with Bitwage, a bitcoin payroll service provider, who then offered the NFL player tickets to Bitcoin 2022 – the largest bitcoin conference in the world – where the partnership was solidified.

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2022-05-19 19:56:02 Canada testing ‘digital ID’ system that uses blockchain, biometrics to screen travellers

The Canadian government is helping to test a new airport security and screening system that will allow travellers to digitize and share travel documents and biometric information with authorities in advance.

Launched at the World Economic Forum (WEF) meeting in Davos, Switzerland, the “Known Traveller Digital Identity” system aims to exploit an array of emerging technologies including biometrics, blockchain and artificial intelligence to boost cross-border security, reduce the threat of cyber-terrorism and streamline international travel, according to the WEF.The system aims to empower airport authorities to focus more of their time and energies on scrutinizing high-risk travellers, according to a WEF report on the initiative.

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2022-05-18 19:12:02 Portugal to Tax Cryptocurrency Income According to Minister of Finance

Portugal, one of the countries considered a crypto tax haven due to its absence of crypto-related taxation, is preparing to change this policy. Fernando Medina, minister of finance of Portugal, stated that the country is working on a framework to allow the taxation of cryptocurrency .

Portugal, one of the countries that has been touted as a crypto haven due to the absence of taxation in this regard, is working on the establishment of laws that will allow it to tax these digital assets. The statements on the subject were made by the minister of finance of the country, Fernando Medina, during a state budget discussion.The government had already given signs of its future direction regarding cryptocurrency taxation.

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2022-05-18 09:37:27 Bitcoin Crypto Signals pinned a photo Open / Comment

2022-05-18 09:37:21 The past few weeks have been witness to a sharp downturn in the market, with most cryptocurrencies trading in the red. The prevailing panic from this has knocked a well-backed algorithmic stablecoin, UST, to less than a quarter of its value. The cryptocurrency behind the stablecoin, TerraUSD rose in popularity earlier this year when it was pledged that $10 billion worth of bitcoin would be amassed to support its dollar peg.
Over the weekend, it's reported that around $500 million was withdrawn from the Anchor protocol on LUNA. This triggered a downward spiral as investors sold off large amounts of UST, causing it to lose its peg. The market was swamped by the onslaught of investors offloading, so much so that Binance suspended the withdrawals of UST and LUNA.
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2022-05-17 08:43:02 Dogecoin “Proof of Assets” To Arrive on Binance

According to DogeDesigner, a UX/UI specialist and graphic designer at Dogecoin Foundation, "Proof of Assets" for Dogecoin might soon arrive on Binance following the community's persistent push for it. "Proof of Assets" is a wallet that should contain an equal number of real Dogecoins matching the BSC-Doge supply, which had not been available on Binance all the while.

"Proof of Assets" indicates on-chain behaviors of BToken and locked native token assets. The same token can circulate on both networks and flow between them bi-directionally via a cross-chain communication mechanism. The total circulation of the same token should be managed across the two networks, i.e., the total effective supply of a token should be the sum of the token's total effective supply on both BSC and BC.

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2022-05-16 13:25:09 Bitcoin Crypto Signals pinned a photo Open / Comment