Crypto crash wreaking havoc on DeFi protocols, CEXs

[ad_1] On Monday, a heavy cryptocurrency sell-off in the markets caused significant ripples for projects and entities alike. On popular decentralized finance, or DeFi, lending protocol Aave (AAVE), utilization rates have fallen across nearly all stablecoin borrowings. Most notably, borrowings for Binance USD (BUSD) now stand at a mere 30% compared to a high of … Read more

Do Kwon dismisses allegation of cashing out $2.7B from LUNA, UST

[ad_1] Do Kwon, the CEO and co-founder of the infamous Terra (LUNA) and TerraUSD (UST) ecosystems, refuted the claims of cashing out $80 million every month for nearly three years.  Numerous unconfirmed reports surfaced on Saturday, claiming Kwon’s participation in draining liquidity out of Luna Classic (LUNC) and TerraUSD Classic (USTC), before the crash to … Read more

UNFCCC weighs blockchain use cases to fight climate change with Cointelegraph

[ad_1] The United Nations Framework Convention on Climate Change (UNFCCC) along with climate change entrepreneurs and Cointelegraph delved into discussing the role of emerging technologies such as blockchain in solving global issues including climate change. During the DigitalArt4Climate press conference, Cointelegraph editor-in-chief Kristina Cornèr took over the stage to understand the various blockchain initiatives that … Read more

Bitcoin, altcoins sell-off on record-high inflation, but traders still expect BTC to consolidate

[ad_1] Global financial markets once again find themselves trending lower on June 10 after the Consumer Price Index (CPI) came in at a blistering 8.6% year-over-year increase, the highest print since 1981.  The hotter-than-expected CPI print resulted in a collapse of the $30,000 support and Bitcoin (BTC) price sold off to a daily low of … Read more

Global Bitcoin adoption to hit 10% by 2030: Blockware report

[ad_1] The adoption of Bitcoin (BTC) could occur more rapidly than the adoption of past disruptive technologies such as automobiles and electric power, with global take-up likely to hit 10% by 2030 according to a new report. In its Wednesday report, Blockware Intelligence said it arrived at this forecast by examining historical adoption curves for nine … Read more

OpenSea ‘insider trading’ could see NFTs labeled securities: Former SEC lawyer

[ad_1] Former Securities and Exchange Commission lawyer Alma Angotti says this week’s news about an OpenSea employee being charged with insider trading could open the doors to non-fungible tokens being labeled as securities.  On Wednesday, in a first for the industry, prosecutors in Manhattan charged former OpenSea product manager Nathaniel Chastain with insider trading. The … Read more

Optimism airdrop overwhelmed by all-time high demand: ‘Scaling is hard’

[ad_1] Ethereum Layer-2 scaling solution Optimism has been overwhelmed with “all-time high demand” following the launch of its highly anticipated airdrop today. Users racing to collect their tokens were greeted with failed or delayed transactions as the Optimism team raced in the background to add additional capacity to the network. As previously reported in April, … Read more