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2022-06-19 09:56:02 USDC records second-largest trading volume ever amid crypto market decline

Blockchain research agency IntoTheBlock notes that USDC captured the UST market in time and came close to USDT and then reached its highest trading volume ever.

Cryptocurrency analytics platform IntoTheBlock posted a message on Twitter stating that the USDC stabelcoin recorded the second highest trading volume during the global cryptocurrency market decline. "Stablecoin activity is on the rise. Yesterday, USDC recorded its second highest volume ever. When BTC and ETH fell to $20,800 and $1,075, USDC's total online transaction volume reached $38.72 billion."

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2022-06-18 09:13:02 Crypto giant Kraken offers 4 months' pay for employees who don't agree with its libertarian principles to leave

Kraken, one of the world's largest cryptocurrency exchanges, will pay employees four months' worth of wages to leave if they disagree with its values, according to The New York Times.

The employees also said Powell held a companywide meeting on June 1 in which he unveiled the program, called "Jet Ski," designed to incentivize employees to leave if they don't believe in Kraken's crypto-typical libertarian principles, the Times reported. Tesla and SpaceX CEO Elon Musk has similarly said a "Woke mind virus" is hurting business at streaming giant Netflix, which also shared a culture memo with employees in May.

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2022-06-17 09:02:02 BitBoy founder threatens class action lawsuit against Celsius

Just two weeks after appearing in an ask me anything (AMA) with Celsius founder Alex Mashinsky, crypto Youtuber Ben Armstrong has announced he intends to file a class action lawsuit against the lending platform and its chief executive.

Armstrong stated that he is currently working through the process of getting all “disclosures, documents, loan details, etc” put together while speaking to attorneys to explore the best ways to go about the class action. Co-plaintiffs are yet to be added as Armstrong hasn’t “officially began moving” yet. Armstrong’s sentiments towards Celsius have swung wildly from just two weeks ago, when he was featured on the ask me anything (AMA) session with Mashinsky on Celsius’ YouTube channel.

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2022-06-16 09:20:04 Bitcoin and Lightning Network can save DeFi from adversity: MicroStrategy CEO

In light of the recent fragility in the decentralized finance (DeFi) sector, Bitcoin (BTC) maximalist and MicroStrategy CEO Michael Saylor feels that Bitcoin and the Lightning network can come to the rescue of the DeFi market.

With two enormous protocols, Terra and Celcius, facing acute difficulties within a month of each other, the DeFi sector is going through a tough time. And in a recent tweet, Saylor suggested that Bitcoin and Lightning could help stabilize the industry. According to Saylor, Bitcoin provides a "sound ethical, economic, and technical foundation for DeFi." He went on to say that the Lightning protocol and BTC token will be used to construct the next generation of DeFi.

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2022-06-15 10:43:02 Bitcoin Slips Below $21,000 Amid Rising Inflation Rates

The price of Bitcoin (BTC) briefly slipped below $21,000 in the early hours of Tuesday morning, a 52-week low for the world’s largest cryptocurrency by market capitalization. Bitcoin dropped to lows of $20,950, according to data from CoinMarketCap, before recovering to its current price of around $22,620, down over 6% on the day.

With a current market capitalization of $430 billion, Bitcoin is down over 66% from its all-time high of $68,789 recorded in November 2021. Bitcoin leads liquidation in the cryptocurrency market with $531.62 million liquidated over the past 24 hours, according to data from Coinglass. The Bitcoin fear and greed index hit 8 out of 100, its lowest level since May 2022, suggesting extreme anxiety in the market. Earlier today, Ethereum (ETH), the second-largest cryptocurrency, dropped to $1,094.70, also recording a 52-week low. Ethereum is currently trading at $1,220, up 1.3% on the day.

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2022-06-14 10:27:02 VeChain Becomes UFC’s First Layer 1 Blockchain Partner

VeChain – the layer one blockchain focusing on sustainability and logistics – has formed a partnership with the Ultimate Fighting Championship (UFC). The network will be integrated into a series of live events and media channels by the world-renowned mixed martial arts organization. VeChain-branded assets will debut this Saturday, June 11, at the Singapore Indoor Stadium.

UFC Senior VP/Global Partnerships Paul Asencio said that – after one of the MMA circuit’s largest sponsorships – the organization’s sponsorship revenues are already up 30% from last year. UFC’s engagement with the crypto industry could be traced back to its announcement of an official partnership with CryptoCom last year. UFC’s president Dana White called the crypto firm “the best partner” the organization has ever had. In April, UFC said it would pay bitcoin bonuses to UFC fighters with the help of CryptoCom.

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2022-06-13 10:30:08 Mining Chip Giant Nano Labs Filed with SEC for IPO on Nasdaq

While other NASDAQ-listed companies are in the red, their competitors from Nano Labs filled a request with the U.S. watchdog for an initial public offering (IPO). According to the statement shared by IPO monitoring portal Renaissance Capital, Nano Labs, a Chinese chip producer, filled with the U.S. SEC for an upcoming IPO on NASDAQ.

The announcement was made by Chinese cryptocurrency journalist and insider Colin Wu. As per the information of the IPO trackers, for the first time, the request to the SEC was sent quietly in 2021. The company is going to offer its stocks under the NA ticker. Nano Labs is a leading fabless integrated circuit design company in mainland China; it also created a Singapore-based fully-owned subsidiary to faciliate the expansion of its overseas market.

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2022-06-12 11:27:02 Marathon Mined 47% Less Bitcoin Than Expected In May

Marathon has revealed that the mining company has produced 47% less Bitcoin than expected during this past month of May. During this month, the Bitcoin mining company’s facilities in Texas faced energization delays due to host Compute North’s energy supplier awaiting resolution on a tax matter.

Marathon chairman and CEO Fred Thiel explains, “although we continue to install miners at the Texas facilities, we have experienced delays in energization as Compute North’s energy provider awaits federal agency confirmation of its exempt status for tax purposes based upon its arrangements with Compute North.”. The energization problem, combined with the ongoing maintenance issues at the power generation station in Hardin, Montana, has lead to the Bitcoin miner producing around 47% less BTC than it expected based on the network hashrate in May.

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2022-06-11 12:39:02 Do Kwon Suspected Of $80 Million Scandal! But No Collateral Recordings To Be Released

Terra’s LUNA and UST disaster is gradually settling, with more doubtful information regarding the company’s work making its way into the public domain. One of the Terra community and an insider inquired about the status of the BTC collateral that Do Kwon claimed to have delivered to market makers. However, there is no detail on how these funds were liquidated.

The participant has valid complaints concerning records that should include competitors, disputes, and OTC block data. Terra’s co-founder then indicated that they have no command over data and that they’ll never be receiving them due to privacy concerns. The response sparked a storm of inquiries about Do Kwon’s true intentions. All this came up while the firm was engaged with other matters, such as the Terra 2.0 launch. There was an announcement that he had taken $80 million from the project.

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2022-06-11 09:41:57 CryptoMarketUpdates pinned a photo Open / Comment