Category Archives: Cryptocurrency News

The Terra Community Prevented an Attack on Liquidity Pools

Community members of the failed Terra project have identified an exploit that threatens liquidity pools and forced the developers to disable the ability to use mBTC, mETH, mGLXY and mDOT as collateral. Two days after the launch of the updated Terra 2.0, a user named Mirroruser informed the community about an exploit he had discovered, potentially threatening to restart the entire project. According to his observations, a targeted attack is being carried out against the…

MoneyGram will allow customers to transfer money abroad in stablecoins

Money transfer company MoneyGram plans to launch a service that will allow customers to send money to other countries using stablecoins. The company entered into a partnership with Stellar Development, which developed the Stellar (XLM) blockchain and a decentralized protocol focused on cross-border transfers, Bloomberg reported. The new service will allow users to convert their stablecoins into fiat currencies where MoneyGram operates. According to Alex Holmes, CEO of the company, today the world of cryptocurrencies…

Binance will open LUNA 2.0 trading in the innovation zone for high-risk crypto assets

Cryptocurrency exchange Binance has announced that it will list Terra 2.0 (LUNA) in the Innovation Zone and open trading for the LUNA/USDT and LUNA/BUSD pairs on May 31 at 06:00 UTC. The exchange drew the attention of users that the innovation zone is a specially created trading area where users can trade new crypto assets that have increased volatility and pose a higher risk of loss for traders. Therefore, if wishing to trade in this…

Nansen: Attack on Terra came from within

Analytical company Nansen, against the background of many versions about the reasons for the collapse of the UST stablekin, put forward the version that the project fell victim to a group attack from the Terra ecosystem. The research platform posted a report “Demystifying TerraUSD De-Peg”. The company’s analysts specified that, according to their investigation, from May 7 to May 11, a group of seven well-funded wallets of the Terra ecosystem operated on the Terra and…

The US regulator rejected the application of the creator of a carbon-neutral bitcoin ETF

The US Securities and Exchange Commission (SEC), despite progress in registering bitcoin futures ETFs, has rejected One River Asset Management’s application. An application to launch One River Carbon Neutral Bitcoin ETF from One River Asset Management has been denied in accordance with NYSE Arca Rule 8.201-E. The main reason for the rejection of the application is that the offer to list on the NYSE Arca exchange lacks sufficient investor protection, which is not allowed under…

UnionBank first in the Philippines placed digital bonds

One of the largest Philippine banks, UnionBank, uses blockchain to issue bonds for $18 million. UnionBank has become the first financial institution in the country to use blockchain to issue securities. The bank launched a public offering of bonds in national currency. The bank told the Philippine Stock Exchange that the minimum bond issue will be 1 billion Philippine pesos ($18 million). The first public offering began on May 24. The issue will take place…

Crypto.com hires former Bittrex executive to develop Web3

Singapore-based cryptocurrency exchange Crypto.com is hiring a head of development to keep business ties during a downturn in the cryptocurrency market. The new managing director of Crypto.com will implement the exchange’s Web3 plans. The place was taken by the former executive director of the crypto exchange Bittrex Kwon Park. He will report directly to Crypto.com COO Eric Anziani. The responsibilities of the Park will include the search for new business opportunities, as well as the…

Turkish authorities tighten regulation of cryptocurrencies

Turkish legislators plan to submit to the parliament projects that are designed to strengthen control over the cryptocurrency market and introduce taxation of a number of operations with digital assets. Unnamed officials in the country’s government told Bloomberg that President Recep Tayyip Erdogan’s ruling AKP party plans to submit new rules to parliament not only for national cryptocurrency exchange platforms, but also for foreign companies. Legislators’ proposals include a minimum equity cap for cryptocurrency platforms…

Thailand will cancel the payment of VAT on cryptocurrency transactions

The Government of the Kingdom of Thailand will provide exemptions for the payment of value added tax for transactions with digital assets until December 31, 2023. Thai legislators made a proposal in March, but it was approved by the authorities only on May 24. According to the royal decree, transactions with cryptocurrencies and tokens will be exempt from paying value added tax on trading floors registered by the Ministry of Finance. The main goal of…

Ripple developers are testing to add NFT functionality to the network

Developers are conducting extensive testing on NFT-Devnet to bring non-fungible token functionality to the Ripple network. The innovation was announced by the developer of server software for the XRP ecosystem, Nik Bougalis. The network validators voted to activate the XLS-20 standard in the XRP Ledger Ripple (XRPL), aimed at bringing NFT functionality to the Ripple mainnet. This will be implemented through an upgrade of Ripple’s servers, allowing developers to create, trade, and destroy NFTs while…