After an earthquake there are always aftershocks. The collapse of UST could be a sign that other stablecoins are also critically flawed. The past week has not been an easy one. After the collapse of the third-largest stablecoin (UST) and what used to be the second largest blockchain after Ethereum (Terra), the de-peg contagion seems...Continue Reading

Ailing stock markets continue to impact crypto prices and technical analysis suggests BTC is at risk of falling below its recent $25,500 low. On May 17, United States Federal Reserve Chairman Jerome Powell told the Wall Street Journal that the 50-basis-point rate hikes would continue until inflation is under control. Powell’s emphasis on a hawkish...Continue Reading

The five applications suggest the social media firm may use its namesake in a payments processing platform called Meta Pay. Social media giant Facebook’s parent company, Meta, may be planning to launch a payments platform with support for cryptocurrency.  According to records submitted to the United States Patent and Trademark Office, or USPTO, on May...Continue Reading

Despite the overwhelming approval of the proposal as of Wednesday, many Terra users on social media suggested the network burn its LUNA tokens. Terraform Labs CEO Do Kwon’s plan to create a new blockchain “without the algorithmic stablecoin” TerraUSD (UST) has the support of 85 million community votes. In a proposal opened to the Terra...Continue Reading

Mike McGlone, senior commodity strategist at Bloomberg, and financial commentator Frances Coppola discuss the implications of last week’s Terra collapse in Cointelegraph’s latest interview. Financial commentator Frances Coppola is convinced that algorithmic stablecoins such as TerraUSD (UST) will always be vulnerable to sudden collapses, no matter how much the technology improves.  “They can improve their...Continue Reading

Shock earnings reports contributed to fresh market weakness, depriving Bitcoin and altcoins of any new gains. Bitcoin (BTC) headed toward an “interesting” liquidity area on May 18 as United States stock markets opened with a bearish bang. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price nears “interesting” rematch with lows Data from Cointelegraph Markets...Continue Reading

ETH bulls are aiming to flip $2,000 back to support, but these two metrics point toward further downside. Ether (ETH) price has been trying to establish an ascending channel since the May 12 market-wide crash that sent its price to $1,790. Currently, the altcoin’s support stands at $2,000, but the high correlation to traditional markets...Continue Reading

Chainabuse allows crypto users, victims of financial crimes and crypto businesses to report, discuss and actively issue warnings to reduce the effectiveness of scams. Seven major crypto companies — Binance.US, Circle, Solana Foundation, The Aave Companies, Hedera, TRM Labs and Civic — joined hands to launch a community-driven scam reporting tool. Named Chainabuse, the tool...Continue Reading

A new database from Cointelegraph Research tracks VC activity in the crypto and blockchain industry in unprecedented detail. Despite the generally negative price action across the crypto industry, continued venture capital investments in the space indicate that the industry is healthy and continues to evolve. Cointelegraph Research’s new venture capital database tracks the activity of...Continue Reading

The entity will be dissolved upon the completion of ShapeShift’s decentralization process. On Wednesday, ShapeShift — a Swiss decentralized autonomous organization (DAO) hosting a cryptocurrency trading ecosystem — announced that its centralized corporate brand, ShapeShift AG, has formed the FOX Foundation. The nonprofit organization’s stated purpose is to oversee the decentralization of its namesake trading...Continue Reading