It’s been a rough year for DeFi, and it may not get any better until projects focus more on security, regulation and usability. The persistent challenges faced by decentralized finance have been well documented by a handful of analysts and the recent collapse of the Terra ecosystem re-enforced the fact that something is critically wrong with DeFi....Continue Reading

About 70% of tokens are held in escrow and will be vested starting later this year. On Tuesday, cryptocurrency exchange Binance said it completed the first stage of airdropping new Terra Luna (LUNA) tokens to holders of Terra Luna Classic (LUNC), TerraUSD (USTC) and AnchorUST (aUST).  The distribution was based on “pre-attack” and “post-attack” snapshots...Continue Reading

A top Russian central bank official said at a press conference that the monetary authority will permit foreign trade with crypto. First deputy governor of the Russian central bank Ksenia Yudayeva stated Tuesday that the bank is open to using cryptocurrency for international payments, Reuters reported, along with Russian media, which added that the bank...Continue Reading

BTC bulls pressed the price to $33,300, but significant tailwinds in traditional markets could continue to weigh on Bitcoin price. Bitcoin (BTC) price action has been surprisingly bullish since May 27. Weekends, especially holiday weekends, are notoriously volatile and indecisive, with major whipsaws in price movements being the norm. Even in bull markets, bearish price...Continue Reading

How do the decisions of the United States Federal Reserve affect Bitcoin and the broader crypto markets? “The Market Report” with Cointelegraph is live right now. On this week’s show, Cointelegraph’s resident experts discuss how Jerome Powell and the United States Federal Reserve influence the crypto market. But first, the Cointelegraph experts analyze the latest...Continue Reading

The Treasury wants to empower the Financial Market Infrastructure Special Administration Regime to oversee the safe return of customer funds in the event of a stablecoin collapse. In a new consultation paper published on Tuesday, the Treasury of the United Kingdom proposed a new set of regulatory changes for the stablecoin industry.  In its report,...Continue Reading

In the precariousness of Web3 open-source code, iterative development and move fast ethos, things break. And through breaking, things are also made. A new project allows anyone to create a copy of someone elses NFT, aptly named Mimics. But how does Mimics work, and what does it mean for the NFT art market to have...Continue Reading

Miners are still accumulating BTC so far, but depressed prices continuing may upend the status quo this summer, new analysis says. Bitcoin (BTC) fell in line with United States equities on May 31 as the return of Wall Street began with a whimper. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Stocks take BTC price south...Continue Reading

Institutions that reportedly purchased 10,939 BTC from Coinbase in December 2020 are not selling yet. Bitcoin’s (BTC) price dropped by more than 50% after peaking out at $69,000 six months ago but the plunge did little in forcing some of its wealthiest investors into selling. Notably, the number of Bitcoin under Coinbase Custody for institutional...Continue Reading

Out of 2,000 applications submitted for the Axie Infinity Builders Program, only 12 projects were selected. On Tuesday, Sky Mavis, creator of the popular fantasy monster-battle nonfungible token (NFT) game Axie Infinity, announced that it had accepted the first user-created projects in its Axie Infinity Builders Program. Out of 2,000 applications submitted, just 12 were...Continue Reading