While some furious South Korean crypto investors are readying multiple lawsuits for Do Kwon and the masterminds of the troubled terra (LUNA) protocol, others in the country are snapping up LUNA tokens at rock-bottom prices – even though the coin is currently being delisted from most major exchanges in the country….
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Technology giant Meta, previously Facebook, has filed five trademark applications for a digital payments platform dubbed ‘Meta Pay’. According to records submitted to the United States Patent and Trademark Office (USPTO), Meta filed five new trademark applications on May 13, which echo its future plans for a payment platform where users can exchange all forms of currencies….
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The popular stablecoin tether (USDT) is again the subject of unwanted attention after approximately USD 9bn has been redeemed for US dollars by users in the aftermath of the terraUSD (UST) collapse. The redemptions have come despite USDT trading on exchanges within a rounding error of its USD 1 peg. At the time of writing (08:39 UTC), the stablecoin traded at USD 0.
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Major US-based crypto exchange Coinbase is backing the development of the “first-ever” enterprise-grade liquid staking protocol, bringing know-your-customer (KYC) checks to the world of decentralized finance (DeFi). According to an announcement from Coinbase on Tuesday, the new liquid staking protocol is being developed by Alluvial, a development firm made up of people with experience from various DeFi-related projects….
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Testifying before Congress on Wednesday, he warned that more actions against crypto firms could be on the way….
Continue reading on https://decrypt.co/100806/sec-chair-gensler-threatens-action-against-unregistered-crypto-exchanges
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Crypto exchange and web wallet provider CoinCorner has announced the launch of its Bolt Card, a contactless Bitcoin (BTC) card powered by near-field communication (NFC) and the Lightning Network (LN). The card allows users to leverage the power of the LN, a layer 2 (L2) payment protocol layered on top of Bitcoin that makes fast and cheap transactions.
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The ongoing downturn in the crypto markets is triggering changes to the hiring plans by some of the major industry players, with crypto exchange Coinbase announcing it will slow down its expansion plans with regard to creating new jobs this year. The latest development follows the release of disappointing financial results for the first quarter of 2022….
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People Power lawmaker Yun Chang-Hyun alleges that various domestic exchanges saw the UST depeg as an opportunity for unscrupulous profiteering….
Continue reading on https://decrypt.co/100665/south-korea-lawmaker-calls-for-enquiry-into-exchanges-terra-activities
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Major crypto exchanges Coinbase and BitMEX are deploying new features to lure more customers, benefiting from users’ rising interest in direct and mobile Web3 access, and spot markets, among others. As planned, the major crypto derivatives platform, BitMEX, is introducing a new spot exchange that allows traders to buy, sell and trade cryptoassets with the use of an orderbook.
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After facing a backlash from the Bitcoin (BTC) community over comments to the Financial Times that Bitcoin is “not a payments network,” Sam Bankman-Fried, the billionaire CEO of crypto exchange FTX, now hints that his exchange may implement Bitcoin Lightning Network payments. “Sounds right, will ping devs,” Bankman-Fried replied to a comment that suggested that “all is forgiven” if Lightning is integrated into FTX….
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