BitcoinBreaking - Your source for CryptoNews

2022-05-12 09:18:02 Luna Foundation Guard seeks more than $1 billion to shore up UST stablecoin

The Luna Foundation Guard (LFG), a Singapore-based non-profit that supports the Terra blockchain ecosystem, is looking to raise more than $1 billion to shore up the UST algorithmic stablecoin after it lost parity with the US dollar, according to three sources familiar with the situation.

Algorithmic stablecoins like UST are meant to stay pegged one-to-one to the price of an underlying fiat currency such as the dollar. But UST dropped as low as $0.61 on Monday amid a wider sell-off in crypto markets, before recovering to $0.91 at the time of writing.The group is now looking to raise fresh capital from some of the industry’s largest investment firms and market makers, according to the sources.

Source

Join Now
@BitcoinBreaking Open / Comment

2022-05-11 18:16:02 Binance Temporarily Suspends LUNA Withdrawals

Top cryptocurrency trading platform Binance has halted LUNA and UST withdrawals due to network congestion and slowness. Due to a significant volume of outstanding withdrawals, LUNA and UST withdrawals were suspended at 2:20 a.m. UTC on May 10.

Terra's algorithmic stablecoin, UST, suffered a free fall after losing its peg, as previously reported. Terra (LUNA) is now trading at $31.79, down 48.59% in the previous 24 hours, while UST stablecoin is now trading at $0.914, down 9% below $1.According to blockchain data and crypto market participants, the de-pegging was likely sparked by TerraUSD withdrawals from decentralized projects Curve Finance and Anchor.

Source

Join Now
@BitcoinBreaking Open / Comment

2022-05-10 14:35:03 ApeCoin down 40% in 7 days as Otherside lands’ price drops

ApeCoin (APE) is down by 40% in the last seven days after a price drop in non-fungible token (NFT) metaverse land sold as part of the Bored Ape Yacht Club’s metaverse, The Otherside.The rush to buy Otherdeeds – the NFTs representing Otherside land parcels – caused transaction fees on Ethereum to skyrocket. Now, it seems, investors may be operating at a loss in the secondary market.

As DappRadar reported: “Users paid around $6,000 (305 ApeCoin) for each land parcel, plus another $6,000 in gas fees during peak hours, amounting to a total cost of roughly ETH4.24 on the minting day”. Since then, Otherdeeds have been changing hands for ETH3.59, “which means investors who bought those NFTs at the gas peak are actually losing money,” added DappRadar.

Source

Join Now
@BitcoinBreaking Open / Comment

2022-05-09 16:54:02 California set to create complete crypto regulatory framework as Governor indicators Government Order

California Governor Gavin Newsom has signed an govt order on cryptocurrencies to create a complete regulatory framework for the trade.The order will see the Governor’s Workplace of Enterprise and Financial Improvement work with different departments just like the Division of Monetary Safety and Innovation and California’s Enterprise, Client Companies, and Housing Company to develop an intensive guideline for the operations of the area.

In accordance to Dee Dee Myers, the director of the Governor’s Workplace of Enterprise and Financial Improvement, a few quarter of the 800 blockchain companies in North America are in California. Thus, the manager order is a method for the state to create laws that assist these companies function responsibly within the state.The chief order requires the businesses to seek the advice of with stakeholders.

Source

Join Now
@BitcoinBreaking Open / Comment

2022-05-08 14:10:06 New crypto litigation tracker highlights 300 cases from SafeMoon to Pepe the Frog

The SEC, CFTC and DOJ have seven cases either resolved or ongoing this year, with the litigation against husband-wife duo Ilya Lichtenstein and Heather Morgan being the most high profile.A new crypto litigation tracker from commercial law firm Morrison Cohen LLP shows details of more than 300 active and settled court cases since 2013.

Morrison Cohen is a New York-based firm that caters to large financial institutions, entrepreneurs and early-growth stage companies and specializes in capital markets, business litigation, real estate and bankruptcy, to name a few. The company also has a cryptocurrency litigation team.The firm stated that it will regularly update the tracker “to include the key rulings in these litigations,” and it also contains a host of “articles, webinars, and podcasts” and regulatory crypto announcements from various government agencies.

Source

Join Now
@BitcoinBreaking Open / Comment

2022-05-07 14:04:02 Cardano activity ramps up as Vasil hardfork nears; Here are the latest developments

As the Cardano (ADA) ecosystem continues to grow and evolve, its team has been diligent in informing its observers every step of the way, listing all the updates it carries out each week toward fulfilling the network’s roadmap.

In terms of its core technology, there have been important updates on the Vasil hardfork which, as Finbold earlier reported, is scheduled for June 2022 and guarantees to help scale the protocol and dramatically increase its transaction throughput, and with it, volume and liquidity.According to the team’s latest status update from April 29, the month’s end has seen the node.

Source

Join Now
@BitcoinBreaking Open / Comment

2022-05-07 12:30:29 FOTA NFT sale!
The FOTA Metaverse in the land with magical creatures and mighty gods.
Features:
MOBA RPG Game Metaverse: millions of users can play in real time.
New Microsoft Mixed Reality technology for unique virtual experience.
Stable farming - financial tools to $FOTA holders.
Smart business model solves high-level problems.
Control ID with the FOTA Wallet and get access with your avatar.
Team from Microsoft, Riot Games & Kixeye
Backers: Microsoft, Hobbit Ventures, D.lion. Certik & Hacken to audit $FOTA.

Buy a Hero to join the FOTA world! The heroes gain XP points to increase Levels. Higher levels - more income! After the game launch, these heroes won't be minted, but will be available for renting.

Giveaway for buyers on Liquidifty: get a chance to win 1 of 20 Kyla and 10 Third Eyes NFT.

The NFT Staking Program available only for INO! The more NFTs you give, the more you get: up to 10% for 2 months.

Tigris, Orson, Kekor, Aprum NFT are ready for sale!
https://liquidifty.info/3kGugj7 Open / Comment

2022-05-06 12:41:02 Ape-themed airdrop phishing scams are on the rise, experts warn

As the crypto community notices and calls out such scams, the fraudsters tend to turn off replies to their tweets to prevent being exposed as scammers.Cybersecurity experts identified and disclosed the rising popularity of airdrop phishing among crypto and nonfungible token (NFT) scammers.

Airdrops serve as an essential marketing tool for crypto projects, which involves sending free cryptocurrency tokens or NFTs to promote awareness among investors. However, a new report released by Malwarebytes Labs highlighted an alarming rise in airdrop phishing attempts as scammers try to cash in on the hype around Yuga Labs’ BAYC Ape-related NFT collection.

Source

Join Now
@BitcoinBreaking Open / Comment

2022-05-05 13:08:02 Yield farm offering one million percent APY turns out to be a fraud

In early April, MaxAPY claimed it was transforming the decentralised finance sector with a yield farming protocol that aimed to offer holders the highest fixed and most sustainable APY. Instead it was a rug pull.

As a strategy, yield farming is not dissimilar to foreign currency carry trading where investors aim to lend currencies offering the highest returns and borrow those with the lowest interest rate. Yield farming is typically done via stablecoins such as USDT, DAI and USDC, or protocols linked to the Ethereum blockchain. MaxAPY’s backers did not state which token they were using for their project.

Source

Join Now
@BitcoinBreaking Open / Comment

2022-05-04 21:04:34 BIG GIVEAWAY - 150.000 PSR TOKENS TO BE SHARED AMONGST 5.000 LUCKY WINNERS

For all those who were eager to get your hands on our multifunctional governance token PSR but were not lucky enough during our previous giveaways...

We're giving away another batch of these marvelous tokens (because you deserve it!).

This time around, we're distributing 150.000 PSR tokens (1.5% of PSR's total supply) amongst YOU!

Grab your share NOW at: https://pandora.digital/airdrop/2

For any concerns, kindly read through 2nd PandoDrop's terms and conditions before contacting our support team. Open / Comment