The ECB State that the Terra Crash Shows Stablecoins are a Risk to Global Finances
According to an ECB report, stablecoins aren’t practical as a payment method and the current form of them isn’t suitable for real-world use.
Crypto Currency Platform OKX Sponsors Premier League Club Manchester City’s Training Kit
The OKX logo will be featured on Manchester City’s training gear as part of a sponsorship agreement signed in March.
Huge Loses Due to Crypto Market Downturn as $2 Trillion Disappears in 8 Months
The crypto currency has lost a lot of value over the past eight months against fiat currencies such as the U.S. dollars. Bitcoin’s most important crypto asset, Bitcoin, has lost 69% since its all-time high of November 10, 2021 when the value reached $69K per unit. As the total market capitalization for all 13,413 tokens is just below $1 trillion, the crypto economy has shown some recovery.
$4 Million Raised by DeepNFTValue for Expansion
Rockaway Blockchain Fund provided $4 million funding for DeepNFTValue. The startup currently estimates CryptoPunks’ value and plans to expand its coverage to include Azuki, Bored Ape, and other NFT collections.
Bitcoin mining Profits Force GPU Prices to Drop
A small window of opportunity was created by the dramatic drop in GPU prices for small-time miners who wanted to purchase more powerful, efficient mining equipment.
Bitcoin Loan Given to Celsius has been Liquidated Says Tether
Stablecoin’s issuer claims that the loan was too collateralized and that it was liquidated in a manner that minimized the impact on the market.
A report Will Soon be Released on Bitcoin Mining and Climate Change impact by Biden Administration
A new report claims that the U.S. president Joe Biden’s administration is focused on proof of work (PoW), mining. On July 2, 2022, the White House Office of Science and Technology Policy (OSTP), principal assistant director for energy, discussed the report. Costa Samaras, an official at OSTP, stated that digital currencies will be around for the foreseeable future. He said that it was important that financial systems be “developed responsibly and minimizes total emission.
Brazilian Authorities Raid Crypto Gang who launder Crypto for Gold Mining
Brazil’s federal police conducted a Thursday operation against an alleged criminal group that used crypto tokens for laundering illegal gold mining money.
Binance Expands Further in Europe with New Registration in Spain
Spain is now the third European Union country that has registered Binance as a digital asset supplier after France and Italy.
Lawsuit States Solana SOL is an Unregistered Security with insiders Profiting
Plaintiffs claim that Solana’s SOL token was a centralized security where insiders made huge profits while retail traders were rekt.
