The newly launched Polygon play-to-earn cryptocurrency project, Dragoma, has been allegedly rug pulled just a few days after launching. This announcement was made by a high-profile blockchain security company, PeckShield, via its verified Twitter handle. Dragoma Investors Lost Over $1 Million To Rug Pull Crypto enthusiasts have again fallen victims of rug pull via Web3…
The House of Representatives delayed the bipartisan bill because of more negotiations and debates. The lawmakers proposed the bill to discuss the risks of stablecoins in the cryptocurrency markets. Stablecoins constitute a minute part of the cryptocurrency market capitalization, but they are traded in high volumes. Investors often use stablecoins and other crypto users to…
Lawyers in the lawsuit against Solana claim that its native token is a centralized asset. They further say it is riddled with insider trading to the disadvantage of retailers. Too Strong Allegations Solana labs have become the most recent crypto firm to be entangled in a lawsuit. The lawyers went ahead to say it is…
The US Federal Reserve hosted a meeting of speakers to discuss cryptocurrencies and the economy. Surprisingly, the panel unanimously supported the cause of digital assets. Panelists at the event asked that cryptocurrencies be allowed to grow in the US. Using Crypto to Strengthen the Dollar The panel went further to say allowing cryptocurrencies will only…
Argentina has been struggling against increasing inflation for a long time now. Its Peso has been falling helplessly against the US Dollar. Argentina has one of the highest rates of crypto adoption in the world. What a Resignation Foretells The country witnessed a sharp rise in the price of dollar-pegged stablecoins over the weekend. The…
Binance.US has introduced a zero-fee trading option for Americans as part of its competitive strategy. The company is following the footsteps of a popular company, Robinhood. Robinhood introduced a no-fee cryptocurrency trading option in 2018. As stated by Binance.US CEO Brian Shroder, this move would attract more users. Also, it is the first U.S. cryptocurrency…
As the UK is shifting towards stablecoin regulation, crypto companies are trooping into the region. Recently, the country’s Ministry of Finance released plans to permit the usage of stablecoins for payment. Meanwhile, the popular stablecoin issuer, Tether, has taken a step to position itself in the UK. The company has expanded its stablecoins by releasing…
Babel Finance has been able to address some of its closest liquidity problems. The Hong Kong-based crypto lender reached a debt settlement deal with some counterparties it has. Necessary Deals Across Every Table It was initially reported that the firm temporarily suspended redemption and withdrawals. The event which took place on the 17th of June…
Celsius has decided to put a hold on withdrawals and related activities on its platform. There will also be no transfers or crypto swapping. The crypto lending platform says it takes the decision due to poor market conditions. More obviously, the decision comes from long-term rumors that the platform might become insolvent. The fears follow…
Justin Sun, the founder of the Tron blockchain project, recently introduced a new stablecoin product called USDD. The algorithmic stablecoin project will be pegged to the value of the Tron native token called TRX. Sun has introduced stablecoin as a decentralized project of Tron. Sun is the former CEO of Tron blockchain, who is also…
The circle around cryptocurrencies is becoming more and more constrained in the United Kingdom. However, the Finance Minister’s office in the region has recently shown some confidence in stablecoin projects. The ministry is working to formulate a regulatory framework directed towards stablecoins that can be used as a mode of payment in the region. A…
Senator Elizabeth Warren was recently speaking at the Senate Banking Committee on the matter of stablecoins. The Senator representing the state of Massachusetts recently issued some fairly abrasive remarks about the stablecoins. Warren has been known for her critical opinions about the DeFi markets. She has been vocal about how the stablecoin run can hurt…
