Author: adewale

After the collapse of Terra ecosystems’ cryptocurrency, a group of retail investors is looking for Do Kwon, co-founder of Terraform Labs.

The Financial Services Commission (FSC) of South Korea has urged local companies against jumping headfirst into the cryptocurrency market, warning that they undertake due diligence before doing so. These remarks were made by Kim Joo-Hyun, the chairman of the FSC, during a symposium in Jung-gu, Seoul, on financial strategy.

The price of bitcoin made an effort to build momentum over the resistance zone, located around $19,500, a few days ago. In fact, Bitcoin’s price even rose beyond $19,600 for a brief period, but there was no further movement.

As a result of the multiple crashes this year, the market value of cryptocurrencies has fallen to well below $1 trillion. Consequently, many cryptocurrency-related businesses were wiped out. Two major companies in the sector took such a hit that they had to declare bankruptcy, and their difficulties don’t appear to be resolved anytime soon.

Nirmala Sitharaman, the Minister of Finance for the Indian government, is unsure whether or not blockchain technology can be utilized for assets that may be traded. During this time, Indian is working toward achieving global regulation cooperation and making headway with its digital rupee CBDC.

Law enforcement in Japan has identified “Lazarus”, a hacker gang based in North Korea, as the culprit for a string of crypto-related cyber assaults spanning several years.

Late last week, Magic Eden, the largest marketplace for Solana NFTs, caved to criticism from its fast-losing customers and stated that it would no longer strictly enforce creator-set royalties on NFTs sold via its platform.

Michael Hsu, the acting Comptroller of the Currency (OCC) for the United States, has voiced his worry that regulators are spending too much time on crypto rather than other, more serious problems, such as the banking system or technology.

Last month, a market-wide sell-off occurred across the cryptocurrency ecosystem due to macroeconomic concerns that continued to weigh down risk assets, particularly stocks. The decline was mirrored in spot trading volumes, which saw a significant increase in the previous month.

Following the Russian invasion of Ukraine, which has since been followed by sanctions and inflation hurting the nation, a recent analysis from the blockchain analytics company Chainalysis has shown that there has been an increase in the adoption of stablecoins in Russia.