‘Revival Plan’ Boosts ‘Essentially Zero’ Luna Price By 1,000% Amid Bitcoin, Ethereum And Crypto Crash

'Revival Plan' Boosts 'Essentially Zero' Luna Price By 1,000% Amid Bitcoin, Ethereum And Crypto Crash

Luna LUNA the collapsed cryptocurrency that was designed to support the terraUSD (UST UST ) stablecoin, has rocketed higher over the last 24 hours despite falling to near zero this week—a dramatic collapse that shook the wider bitcoin and crypto market. Subscribe now to Forbes’ CryptoAsset & Blockchain Advisor and successfully navigate the volatile bitcoin … Read more

Bitcoin Tumbles In Wild Week For Cryptocurrency

Bitcoin Tumbles In Wild Week For Cryptocurrency

NEW YORK (AP) — It’s been a wild week in crypto, even by crypto standards. Bitcoin tumbled, stablecoins were anything but stable and one of the crypto industry’s highest-profile companies lost a third of its market value. Here’s a look at some major developments in cryptocurrencies this week: The price of bitcoin dropped to around … Read more

Bitcoin tumbles, a stablecoin plunges in wild week in crypto

Bitcoin tumbles, a stablecoin plunges in wild week in crypto

NEW YORK (AP) — It’s been a wild week in crypto, even by crypto standards. Bitcoin tumbled, stablecoins were anything but stable and one of the crypto industry’s highest-profile companies lost a third of its market value. Here’s a look at some major developments in cryptocurrencies this week: Bitcoin The price of bitcoin dropped to … Read more

Could Bitcoin crash make El Salvador go BUST? Govt has lost $40m amid plans to build crypto city

El Salvadorian president Nayib Bukele (left, in the cap) has unveiled architecture studio FR-EE's designs for a cryptocurrency-funded city that is planned to rise up the side of a volcano in the south of the country

El Salvador’s Bitcoin bet could be putting the country in peril as its holdings have already lost $40m amid a cryptocurrency rout. The losses – equal to the Central American country’s next bond payment – come amid a so-called ‘crypto winter’ and the president’s plans to build a volcano-powered ‘crypto city’ to mine bit coin. … Read more

Crypto Investor Who Lost Money Visits Home of Luna Founder

Crypto Investor Who Lost Money Visits Home of Luna Founder

Do Kwon, the founder of the cryptocurrency Luna and the stablecoin TerraUSD, has reportedly been in contact with police after a possible investor in the coin “trespassed” at his home, according to a new report from South Korea’s largest newspaper, The Chosun Ilbo. Crypto News reports the investor lost roughly $1.56 million in the collapse … Read more

Regulators anxious about stablecoins like tether after UST collapse

Regulators anxious about stablecoins like tether after UST collapse

The entire stablecoin market is now worth more than $160 billion. Justin Tallis | AFP via Getty Images Regulators are getting increasingly worried about stablecoins after the collapse of controversial cryptocurrency venture Terra. TerraUSD, an “algorithmic” stablecoin that’s meant to be pegged one-to-one with the US dollar, has erased much of its value this week … Read more

Tether (USDT) stablecoin regains peg after $3 billion in withdrawals

Tether (USDT) stablecoin regains peg after $3 billion in withdrawals

Tether has long faced questions over whether it has enough assets to justify its peg to the dollar. Tiffany Hagler | Bloomberg via Getty Images Tether, the world’s largest stablecoin, regained its peg to the dollar after more than $3 billion worth of tokens left the system in a single day. The cryptocurrency — which … Read more

Terra Collapse Teaches About ‘Crypto’ And Bitcoin

Terra Collapse Teaches About 'Crypto' And Bitcoin

Terra is crumbling. The blockchain project home to the popular algorithmic stablecoin TerraUSD (UST), which had recently become the fourth-largest stablecoin by market value but now sits at fifth, is near collapse as UST repeatedly fails to sustain its $1 peg and LUNA, the blockchain’s native token, near zero. Terraform Labs, the tech start-up behind … Read more

Crypto investors panic amid digital coin, bitcoin crash

Crypto investors panic amid digital coin, bitcoin crash

Crypto investors panicked on Thursday as bitcoin plummeted to its lowest price in more than a year and other cryptocurrencies endured even worse sell-offs. Victims of the bloodbath — which comes amid a broader stock market rout — range from the billionaire crypto titans who run leading marketplaces such as Coinbase and Binance to lowly … Read more

Tether Sinks Below $1 in Nightmare Scenario for Bitcoin

Tether Sinks Below $1 in Nightmare Scenario for Bitcoin

A bitcoin sign is seen on a Coinstar ATM during the Bitcoin 2022 Conference at Miami Beach Convention Center on April 8, 2022 in Miami, Florida. Photo: Marco Bello (Getty Images) The cryptocurrency market continued to hemorrhage money Thursday, with the most popular coins down double-digit percentages over the past 24 hours. And absolutely no … Read more