crypto blog
Tether reports 17% decrease in commercial paper holdings over Q1 2022
USDT Stablecoin issuer Tether (USDT) has reported it cut its reserves allocation to commercial paper investments and increased that of United States Treasury bills over the first quarter of 2022. In a Thursday blog post, Tether reported its reserves were “fully backed,” seemingly in an effort to assuage many users’ fears around USDT briefly depegging from the dollar on May 12. According to the stablecoin issuer, its commercial paper holdings over Q1 2022 decreased 17% from roughly $24 billion to $20 billion, with an additional 20% reduction to be reflected in the firm’s next quarterly report. Tether also increased investments in money market funds and U.S. Treasury bills by 13% over the same quarter, from roughly $34.5 billion to $39 billion. “Tether has maintained its stability through mu...
Swiss think tank urges greater global cooperation on crypto regulation
In a bid to combat illegal activity and “regulatory arbitrage,” a Swiss-based think tank has urged greater international cooperation on cryptocurrency regulation. On Monday, the Basel Institute of Governance and the International Academy of Financial Crime Litigators released a paper calling for further coordinated action against unlawful crypto-markets. Among the proposed solutions are greater cooperation between jurisdictions, as well as the creation of worldwide standards for cryptocurrency regulation. According to the paper, investigators who work with cryptocurrency should invest in learning approaches and technologies that are contemporary with evolving criminal organization techniques. Also, it recommended judicial authorities come up with new methods for prosecuting vir...
Here’s why bears aim to keep Bitcoin under $29K ahead of Friday’s $640M BTC options expiry
Over the past nine days, Bitcoin’s (BTC) daily closing price fluctuated in a tight range between $28,700 and $31,300. The May 12 collapse of TerraUSD (UST), previously the third-largest stablecoin by market cap, negatively impacted investor confidence and the path for Bitcoin’ price recovery seems clouded after the Nasdaq Composite Stock Market Index plunged 4.7% on May 18. Disappointing quarterly results from top United States retailers are amping up recession fears and on May 18, Target (TG) shares dropped 25%, while Walmart (WMT) stock plunged 17% in two days. The prospect of an economic slowdown brought the S&P 500 Index to the edge of bear market territory, a 20% contraction from its all-time high. Moreover, the recent crypto price drop was costly to leverage buyers (l...
Top gaming tokens not to miss this May
Blockchain gaming studios are raising millions for game launches. The metaverse and GameFi as a whole have seen a tremendous level of growth throughout the crypto sphere. These are the best gaming tokens and overall projects that you can buy to get the most out of the blockchain gaming space. Gala (GALA), WAX (WAXP), and Mobox (MBOX) are all gaming tokens that are worth your attention this May. On May 18, 2022, GALA tokens became available on Coins.ph, a mobile wallet that enables Filipinos to buy, make online payments, and trade digital currencies. Furthermore, on May 18, 2022, the WAX Blockchain and ecosystem grew with one more additional game, a play-to-earn (P2E) RPG title that received the community spotlight, The Adventurer’s Guild. There are numerous games consisten...
Bitcoin trades in $29K ‘no man’s land’ as Tesla ESG fallout routs stocks
Bitcoin (BTC) stayed $1,000 lower on May 19 after a grim trading session on Wall Street the day before put pay to further upside. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Musk blasts ESG “scam” after S&P 500 exit Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $29,000 at the time of writing, having bounced at $28,600 on Bitstamp. The pair had declined in step with United States equities, with the S&P 500 particularly in focus as it set its largest intraday decline since June 2020. Drama over Tesla, which was removed from the index amid ongoing controversy, fuelled the poor performance. The firm’s CEO, Elon Musk, publicly rebuked those behind the decision, which appeared tied to adherence to so-called environmental, social and gove...
What is Sorare and how to play it?
Sorare is where fantasy soccer and cryptocurrency meet. For soccer fans, this is a way to be competitive off the field and invest heavily right away. Users can play the game online in their browser or download the Sorare app. In this article, you will read all about what exactly Sorare is and how it works. What is Sorare? Sorare is a blockchain-based fantasy soccer game adored by many soccer fans worldwide. The founders of the platform want to give fans the opportunity to develop and play the game, even when they can’t play it on the field. Users can buy, trade, sell and manage a virtual team with digital player cards. By competing against other users of this fantasy football game, you can earn points. It’s more than simply playing virtual tournaments because you need to build strategies a...
DeFi-ing exploits: New Chainalysis tool tracks stolen crypto across multiple chains
Blockchain analytics firm Chainalysis has released a new tool to track transactions across decentralized finance (DeFi) protocols and multiple blockchains. Chainalysis launched a beta version of its Storyline software on Wednesday. Touted as a “Web3-native blockchain analysis tool,” Storyline aims to track and visualize smart contract transactions with a focus on nonfungible tokens (NFTs) and DeFi platforms. This is in line with the growing popularity and prevalence of NFTs and DeFi in the cryptocurrency space over the past year. Chainalysis provides blockchain analysis and annual reports on cryptocurrency crime trends and other analytics. The ever-changing landscape has seen DeFi and NFTs become important cogs in the ecosystem, with Chainalysis estimating the two sectors account for more ...
Terra crash not a risk to the broader crypto ecosystem, says Huobi Global CEO
As the fall of Terra (LUNA) and TerraUSD (UST) may have a noticeable short-term impact on the decision-making of both retail and institutional investors, it doesn’t pose a risk to the larger crypto ecosystem, according to Du Jun, CEO of Huobi Global CEO. In an interview with Cointelegraph, Jun explained that the collapse of Terra will affect the ecosystem by slowing down investor interest in crypto as an asset class. However, Jun noted that this will only be a short-term effect. In the long term, the exchange CEO explained that crypto like Bitcoin’s (BTC) demand as a hedge against fiat inflation will grow along with the advent of new applications for blockchain: “In the long term, demand for cryptocurrencies as a hedge against fiat inflation will continue to grow, as well as for appl...
If you’re a sports fan, here are some of the best sports tokens you can get on May 18, 2022
Numerous exchanges have sponsored huge events regarding the sports industry, and as such, sports fans have found a lot of appeal in cryptocurrency tokens that follow that theme. FTX and Crypto.com specifically might have put more than $1 billion dollars into sports sponsorships throughout 2021. We are going to go over the best tokens you can get as a sports fan so you can be a part of the crypto industry: Dotmoovs (MOOV) and Chiliz (CHZ). Throughout the past few years, many blockchain and crypto companies have started to push into the sports industry. Coinbase, Crypto.com, eToro, FTX, and Tezos are some of the biggest crypto companies that are making huge crypto sponsorships and partnerships. There are speculations that FTX and Crypto.com specifically have put more than $1 billion dollars ...
Nigeria introduces new rules for cryptocurrency
Nigeria wants more clarity on digital currency trading. That is why the country has released new rules for crypto. Nigeria’s Securities and Exchange Commission published “rules on the issuance, platform offering and custody of digital assets” for virtual technologies, the commission said on its website. Second-largest trading volume These rules apply to digital assets regulated by the SEC. By providing more clarity on these rules, it could increase trade in the country, according to Bloomberg. It might be better to say: increase even more. Nigeria is responsible for the second-largest crypto trading volume in the world, according to Bloomberg. “Nigeria accounts for the largest volume of cryptocurrency transactions outside the US,” the article reads. The only dubious thing about this statem...
Spotify enters the Metaverse through partnership with Roblox
Spotify, the leading music streaming platform, is ready to enter the realm of Web 3.0. The music streaming giant has joined forces with the popular game Roblox to offer its users a virtual universe experience. “Roblox fans, pack your bags,” the reveal read. Music meets nature Spotify encourages users of the digital universe to visit their new island. Additionally, Spotify’s metaverse in Roblox has a green, nature-focused design and features Spotify’s signature colour scheme, to give those using the Spotify app a familiar feeling. Launched on May 3, Spotify invites its users to perform various tasks to “climb the charts”, or in this case the Roblox leaderboard. Once on Spotify Island, users can do a number of things: Unlock four items for free, experiment with the magic of sound in a crysta...
Binance seeks German license after recent approval by French regulators
The crypto exchange giant aims to become a licensed digital asset service provider in the biggest economy in Europe The move comes just weeks after the exchange acquired regulatory approval from France regulator in a quest to bite into the European market Expansion plans by the world’s largest crypto exchange in terms of volume, Binance, have shifted focus on winning regulatory approval in Germany. Co-founder and CEO Changpeng Zhao announced that the exchange held back late last year after pressure from financial authorities across several jurisdictions, Germany included, forced them to stop operations. Germany could join Dubai, Abu Dhabi and Bahrain in the list of jurisdictions where Binance has clearance to operate in. Binance CEO recently revealed at a conference that the exchange...
