Weekend Updates — 14.05.2022
We’re helping you catch the best stories in cryptocurrency over the past week so you can stay well informed.
LUNA’s Crash Landing Is Taking UST Down With It
TL;DR: Algorithmic stablecoins like Terra have been getting battered by recent crypto market conditions. Holding these coins for too long could lead to disastrous consequences, as many traders and arbitrageurs rely on these coins for stability, which is not guaranteed due to the fluctuating value of cryptocurrencies.
📰 Full article:
https://novuminsights.com/post/luna-s-crash-landing-is-taking-ust-down-with-it/
How crypto bear markets work
TL;DR: Crypto bear markets are serious. Investors need to be careful and understand what the consequences are, to not let the panic get to them. But in crypto, it’s not truly a bear market until there are real consequences, such as; Funds close, Startups shutter or “Established” crypto companies start announcing layoffs.
📰 Full article:
https://www.axios.com/2022/05/12/crypto-bear-markets-bitcoin-ethereum
Warnings From the Crypto Crash
TL;DR: In a nutshell, the author discusses how the liquid markets that have been in place for cryptocurrencies has turned into a crash as credit conditions have tightened. The author also highlights the possibility that some investors could end up defaulting on loans and shares when their other investments falter.
📰 Full article:
Crypto VC Jill Gunter on what it will take to beat Ethereum
TL;DR: Jill Gunter has witnessed three phases of development in the crypto space and sees Ethereum’s high transaction costs and low throughput as a central factor to understanding the current competitiveness between different blockchains.
📰 Full article:
Former “Crypto Queen” Ruja Ignatova Put on Most Wanted List
TL;DR: OneCoin, a crypto scam that blew up in the face of investors five years ago, has a new chapter. Europol is now offering a reward of up to €5,200 for any information that could lead to the arrest of Ruja Ignatova, OneCoin’s former CEO.
📰 Full article:
Yellen Says Terra Meltdown Shows Crypto-Stablecoin Dangers
TL;DR: Janet Yellen, US Secretary of Treasury, says she wants to regulate crypto-assets and that the crash of TerraUSD demonstrates the dangers of tokens that purport to be pegged to the US dollar.
📰 Full article:
Nubank, Brazil’s Largest Digital Bank, Launches Bitcoin and Ether Trading
TL;DR: Nubank, the largest Brazilian digital bank by market value, is adding the option for customers to buy and sell bitcoin (BTC) and ether (ETH) on its platform, the company announced Wednesday. Nu Holdings, Nubank’s parent company, also said it is allocating roughly 1%.
📰 Full article:
https://finance.yahoo.com/news/nubank-brazil-largest-digital-bank-173610487.html
