Internet
Another ‘algorithmic’ stablecoin has fallen below its $1 peg — but experts say it’s not ‘Terra 2.0’
Cryptocurrencies have been under immense pressure after the collapse of a so-called stablecoin called terraUSD. Umit Turhan Coskun | Nurphoto via Getty Images A controversial stablecoin launched just before the collapse of a similar token called terraUSD is struggling to maintain its peg to the U.S. dollar. USDD, a so-called “algorithmic” stablecoin that’s meant to […]
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Bitcoin could plunge even further to a low of $13,000, one strategist warns
If crypto’s past bubbles are anything to go by, bitcoin could be about to fall much further. That’s according to one strategist, who warns the world’s top cryptocurrency is likely to tank as low as $13,000 — an almost 40% drop from current levels. “We would still be selling these kinds of cryptocurrencies into this […]
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South Korea puts crypto company Terraform Labs’ staff on no-fly list
The collapse of the Terra ecosystem will go down as one of the most painful and devastating chapters in crypto history. Gabby Jones | Bloomberg via Getty Images Several employees of South Korea-based Terraform labs, the company behind the stablecoin TerraUSD, which collapsed last month and roiled cryptocurrency markets, cannot leave the country, prosecutors said. […]
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Amazon loses two Black executives, including one on leadership team
Jeff Kowalsky/Bloomberg via Getty Images Amazon is losing two top executives who lead warehouses and transportation. Alicia Boler-Davis, senior vice president of global customer fulfillment and a member of the company’s leadership team, and David Bozeman, VP of Amazon Transportation Services, are departing the company, according to people familiar with the matter. Both were among […]
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Elon Musk says 3 issues need to be resolved before his Twitter buyout can go ahead
In this photo illustration, Twitter account of Elon Musk is seen on a smartphone screen and Twitter logo in the background. Pavlo Gonchar | Lightrocket | Getty Images Elon Musk says there are three main hurdles to overcome before he can complete his purchase of Twitter. Musk is seeking to buy Twitter for $44 billion, […]
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A crypto lending app tried to take over a ‘whale’ account to stop it from collapsing the system
The logo of cryptocurrency platform Solana. Jakub Porzycki | NurPhoto via | Getty Images Decentralized finance platforms are going to extreme lengths to limit the fallout from a sell-off in cryptocurrencies. Solend, a lending platform built on the Solana blockchain, tried to gain control of its largest account, a so-called “whale” investor that it said […]
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Gaming giant NetEase plunges nearly 7% after it delays release of Diablo Immortal in China
The NetEase Games booth at the China Joy conference in Shanghai on July 30, 2021. Arjun Kharpal | CNBC On China’s Twitter-like service Weibo, the official account of Diablo Immortal is banned from posting for “violating relevant laws and regulation.” It’s unclear which rules the account has broken. NetEase declined to comment further on the […]
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What you need to know about staked ether, the token at the center of crypto’s liquidity crisis
Ether is the second-largest cryptocurrency in the world by market value. Jaap Arriens | NurPhoto via Getty Images Another controversial cryptocurrency is causing havoc in the digital asset market — and this time, it’s not a stablecoin. Staked ether, or stETH, is a token that’s supposed to be worth the same as ether. But for […]
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Bitcoin sinks below $20,000 as crypto meltdown intensifies
Crypto investors are grappling with aggressive interest rate hikes from the U.S. Federal Reserve and a worsening liquidity crunch. Bloomberg | Bloomberg | Getty Images Bitcoin dropped below the $20,000 mark on Saturday, extending a brutal slide in cryptocurrencies. The price of bitcoin fell 9% in 24 hours to $19,217.81, according to Coin Metrics data. […]
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Lawmakers urge Google to tackle misleading abortion search results
Senator Mark Warner (D-VA) questions David Marcus, head of Facebook’s Calibra (digital wallet service), during testimony before a Senate Banking, Housing and Urban Affairs Committee hearing on “Examining Facebook’s Proposed Digital Currency and Data Privacy Considerations” in Washington, July 16, 2019. Erin Scott | Reuters Several lawmakers are urging Google to clamp down on misleading […]
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