The cryptocurrency market has seen a lot of dark days in its history, but few compare to the events of the past week.
Sam Bourgi
Sam Bourgi is a business editor at Cointelegraph, where he brings a decade of experience in economic analysis and financial market writing. Past roles included think tanks, boutique research firms and the wild world of freelance crypto. His passions include Bitcoin, Austrian economics and writing. Also heavy music and strong coffee.
- Newsletter
Crypto Biz: Luna’s meltdown will live on in infamy, May 5–11, 2022 - News
Breaking: Do Kwon proposes Terra revival, including token redistribution plan After two days of silence, the Terra founder has issued a new governance proposal to keep the community alive and compensate token holders.
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Failed exit? Traders complain Crypto.com reversed profitable LUNA transactions Terra’s death spiral resulted in the mispricing of LUNA tokens on the popular cryptocurrency exchange. Traders aren't happy with the compensation.
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Breaking: Terra blockchain officially halted following LUNA price collapse Validators decided to halt chain operations on Thursday in anticipation of governance attacks as the LUNA token plunged over 99%.
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Why did Terra LUNA and UST crash? | Find out on The Market Report On this week’s special episode of “The Market Report,” Cointelegraph’s resident experts discuss the Terra ecosystem meltdown.
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FCA-regulated Fasanara Capital raises $350M crypto and fintech VC fund Venture capital continues to target crypto and fintech for funding, with Web3 emerging as a major trend in 2022.
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42.5K BTC reportedly moved from Luna Foundation Guard wallet as UST peg crumbles The Bitcoin price plunged below $31,000 on Monday, marking a new low for the year. Altcoins also sold off sharply.
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Galaxy Digital reports $112M Q1 loss, citing crypto price volatility Bitcoin and altcoins declined sharply in the first quarter in a selloff that was partly triggered by a shift in central bank policy.
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Crypto Biz: The real reason crypto hodlers should care about the Federal Reserve, April 28–May 4, 2022 On May 4, the FOMC voted to raise interest rates by 50 basis points. Here's why Bitcoin investors need to care about central bank's policy.
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Grayscale’s GBTC and ETHE products now available on Robinhood The discount brokerage has seen a steep decline in crypto-related revenue over the past 12 months as retail traders exited the market.
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Luna Foundation Guard acquires additional 37,863 BTC as part of reserve strategy The acquisition, totaling roughly $1.5 billion, will be used to further backstop Terra Luna’s algorithmic stablecoin UST.
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Polkadot launches cross-chain messaging system to solve blockchain’s bridge problem Bridges have become one of the largest points of failure in the crypto industry. Polkadot wants to do away with them.
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VC Roundup: Gaming, crypto fintech and blockchain infrastructure dominate venture capital rounds HBAR Foundation, bloXroute, GamerGains, Spruce, Venly, Playmint and Oasis.app headline the latest funding deals from the world of blockchain.
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Crypto Biz: If you think crypto is bearish, you’re not paying attention, April 21–27, 2022 Despite evidence of a bear market, venture capital continues to allocate billions to crypto and blockchain projects.
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Aave founder Stani Kulechov briefly suspended from Twitter after joking about becoming interim CEO Not everyone is convinced that Elon Musk’s takeover of Twitter will promote free speech.
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Propy partners with Abra to provide crypto-backed real estate loans Cryptocurrency investors now have more options for purchasing property without having to sell their digital assets outright.
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Grayscale to expand crypto fund offering into Europe CEO Michael Sonnenshein said the firm’s European rollout would be done piecemeal due to various regulatory regimes and investor attitudes.
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Ethereum scaling solution Optimism upgrades governance structure Optimism Foundation will launch a governance token called OP to govern protocol and network parameters, and incentivize adoption.
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Crypto Biz: The Web3 arms race is upon us, April 14–20, 2022 2022 is shaping up to be the year for Web3. KuCoin, Framework Ventures and CoinDCX have all made a splash in this emerging paradigm.
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Polygon launches ‘Supernet’ chains, pledges $100M to Web3 developers The layer-2 scaling solution continues its focus shift to Web3, a broad concept that refers to the blockchain-powered internet.
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SoftBank leads $60M CertiK raise as demand for Web3 security grows Web3 is generating a lot of opportunities for blockchain-native businesses, but it’s also creating serious security vulnerabilities.
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Public blockchain Kadena launches $100M Web3 grant program Web3 development has become a top priority for the blockchain industry as infrastructure providers look to enable the new internet economy.
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Framework Ventures allocates half of $400M fund to Web3 gaming Like DeFi in 2020, gaming is considered by many to be the next major growth play for the blockchain industry in 2022.
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KuCoin-backed companies launch $100M Web3 developer fund The fund will support early-stage NFT projects that are contributing to the growth and development of the Web3 economy.
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Gulf Energy pursues joint venture with Binance, invests in BNB The Bangkok-based holding company has identified digital infrastructure and “digital-asset related initiatives” as priority areas.
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Crypto Biz: An eye-opening chat with Mr. Wonderful, April 7–13, 2022 Kevin O’Leary told Cointelegraph that Bitcoin mining could incentivize green energy production. We also interviewed Mark Yusko and Mike McGlone at Bitcoin 2022.
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NFT avatar startup Genies valued at $1B following Series C funding round Nonfungible token platforms incorporating Web3 and the Metaverse continue to attract sizable investments from venture capital firms.
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ETH devs implement first-ever ‘shadow fork’ as PoS testing continues The shadow fork, which is intended to test the next phase of Ethereum’s configuration, has no impact on the existing mainnet.
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Ethereum L2 Boba Network valued at $1.5B following Series A In terms of adoption and TVL, layer-2 scaling solutions continue to lead the cryptocurrency industry by a wide margin.
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Crypto Biz: Proof of integrity? Gold industry wants blockchain to solve its biggest problems, March 25–31, 2022 Blockchain technology is coming to the aid of another legacy financial industry. Meanwhile, the race to accumulate Bitcoin continues to heat up.