Author: Jamie Redman

Aave Launches Social Media Project Lens Protocol With Over 50 Apps Built on Polygon – Blockchain Bitcoin News

Bitcoin.com

The blockchain firm Aave has launched the Lens Protocol, a social media project with applications built on the Polygon blockchain. Lens is similar to the social media platform Twitter but Lens profiles are linked to a non-fungible token (NFT) that Read More

3 Members of Terraform Labs’ In-House Legal Team Abruptly Leave Amid LUNA, and UST Fallout – Bitcoin News

Bitcoin.com

Three members of Terraform Labs’ legal team have left the company, according to their Linkedin profiles that show their departure from the firm this month. The resignation of the company’s in-house litigation, regulatory, general, and corporate counsel members follow the Read More

Terra Community Plans to Vote on Forking the Chain — Launch May Airdrop a Billion New Tokens to Network Participants – Bitcoin News

Bitcoin.com

Following the aftermath of Terra’s UST implosion, the blockchain project’s founder Do Kwon has been actively discussing the Terra ecosystem revival plans and one specific proposal will be voted on May 18. The plan is to fork the blockchain into Read More

Finder’s Poll Conducted Weeks Before Terra’s Fallout Predicted LUNA Would Tap $143 This Year – Bitcoin News

Bitcoin.com

Just recently, the product comparison platform finder․com polled 36 fintech specialists about the cryptocurrency terra (LUNA) before terrausd (UST) lost its parity with the U.S. dollar. According to the poll, Finder’s experts predicted LUNA would be $143 before the end Read More

Circle Says USDC Reserve Backed Entirely in Cash and Short-Dated US Treasuries – Bitcoin News

Bitcoin.com

On May 13, Circle’s chief financial officer Jeremy Fox-Geen published a blog post called “How to Be Stable,” following the aftermath of Terra’s stablecoin implosion. Circle’s CFO explained that since usd coin’s inception, the stablecoin aims to be “the most Read More

Tron DAO Reserve Acquires Millions in TRX, Bitcoin, and Tether to Safeguard USDD – Bitcoin News

Bitcoin.com

Seven days ago, Bitcoin.com News reported on the Tron DAO Reserve purchasing $38 million in tron to safeguard the network’s stablecoin USDD. Since then and since the terrausd (UST) de-pegging event, the Tron DAO Reserve has continued to purchase large Read More

Ethereum Hashrate Taps an All-Time High Amid This Week’s Crypto Market Meltdown – Mining Bitcoin News

Bitcoin.com

Amid the crazy week in the world of cryptocurrencies and the Bitcoin network’s mining difficulty reaching a lifetime high at 31.25 trillion, Ethereum’s hashrate tapped an all-time high on May 13, at block height 14,770,231. Cryptocurrency miners continue to dedicate Read More

Trust in Decentralized Finance Rattled After $100 Billion Left the Defi Economy – Defi Bitcoin News

Bitcoin.com

The effect of Terra’s demise continues to shine a light on the fragility surrounding the decentralized finance (defi) ecosystem. Things have changed a great deal following Terra’s aftermath, as the total value locked (TVL) in defi has plummeted from $231 Read More

Crypto Market Rout Pulls the Floor out From Blue-Chip NFTs, Weekly Sales Down 64% – Bitcoin News

Bitcoin.com

Jamie Redman Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and Read More

Report: Terra Founder Do Kwon’s Spouse Seeks Police Protection After the LUNA and UST Fallout – Bitcoin News

Bitcoin.com

Following the aftermath of the Terra blockchain tokens LUNA and UST losing significant value, reports indicate that the Terraform Labs founder Do Kwon’s apartment was visited by an unidentified person. Do Kwon’s spouse has requested protection from the Seongdong police Read More

Terra Blockchain Temporarily Stops Block Production, Aims to Restart Network With a Patch – Bitcoin News

Bitcoin.com

At 12:14 p.m. (ET), the Twitter account operated by the Terra team announced that the Terra blockchain network had been halted. According to the Terra developers’ tweet, Terra validators needed to apply a patch to further disable delegations. Terra Blockchain Read More

Erratic Bond Yields, Lockdowns, and War — 3 Reasons Why Economic Recovery Won’t Happen Quickly – Economics Bitcoin News

Bitcoin.com

The global economy looks bleak as inflation continues to rise, and a wide array of financial investments continue to shudder in value. Since May 2, 2022, the crypto economy has dropped more than 15% from $1.83 trillion to today’s $1.54 Read More

UST Rebounds From $0.66 per Coin to $0.93, Crypto Community Assesses Stablecoin’s Damaged Reputation – Bitcoin News

Bitcoin.com

On Monday, May 9, 2022, the stablecoin terrausd (UST) lost its parity with the U.S. dollar and dropped to an all-time low of $0.66 per unit. The stablecoin has been one of the most topical discussions in crypto during the Read More

2022 Bitcoin Obituaries List Outpaces First 3 Years, Schiff Says Its ‘Highly Likely Bitcoin Will Crash Below $10K’ – Featured Bitcoin News

Bitcoin.com

While bitcoin’s price has dropped to levels not seen since January 2022, a number of detractors think bitcoin is on its death bed. Data stemming from the Bitcoin Obituaries list shows the leading crypto has died seven times in 2022, Read More

As BTC Slides Toward Resistance, the Chance of a Rare Triple Top Formation Comes Into Play – Markets and Prices Bitcoin News

Bitcoin.com

The cryptocurrency economy has shed a lot of value during the last six months dropping 48.70% from $3.08 trillion to today’s $1.58 trillion. While crypto markets looks extremely bearish these days, a few crypto advocates have theorized the bear market Read More

Value Locked in Decentralized Finance Slides 17% Lower Over the Last 30 Days – Defi Bitcoin News

Bitcoin.com

The value locked in decentralized finance (defi) protocols has lost 17.77% over the last 30 days, falling from $221.67 billion to today’s $182.27 billion. Moreover, statistics show the total value locked (TVL) across a broad range of defi protocols shed Read More

Meme Token Carnage — DOGE, SHIB Prices Sink Lower, Dogecoin Down 82% Since Last Year – Market Updates Bitcoin News

Bitcoin.com

Today’s top meme coins have lost 4.8% in value against the U.S. dollar, as the crypto market carnage has wreaked havoc across the entire digital currency economy. While dogecoin had a phenomenal year in 2021, over the past 12 months, Read More

Anchor Protocol’s Earn Rate Adjusts for the First Time, From 19.4 to 18% APY – Defi Bitcoin News

Bitcoin.com

Following the governance vote that aimed to implement a semi-dynamic earn rate for the Anchor Protocol, the decentralized finance (defi) platform’s earn rate adjusted downward for the first time this month. After holding steady with a 19.4% annual percentage yield Read More