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  • crypto-lending-platform-hodlnaut-suspends-services-due-to-liquidity-crisis
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    Crypto lending platform Hodlnaut suspends services due to liquidity crisis

    Hodlnaut avoided 3AC exposure and earlier denied ever buying UST, but several reports and on-chain data have shown that the lending firm at one point owned over $150M worth of UST. Blaming market conditions and lack of liquidity, Singapore-based crypto lending platform Hodlnaut has become the latest firm to suspend withdrawals and deposits.The crypto lending… More

  • singapore’s-financial-watchdog-pushes-back-against-terra-and-3ac-associations
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    Singapore’s financial watchdog pushes back against Terra and 3AC associations

    According to the MAS managing director, TerraForm Labs, Luna Foundation Guard and Vauld were “not licensed or regulated” by Singapore’s financial watchdog. Ravi Menon, the managing director of the Monetary Authority of Singapore, or MAS, said companies often labeled by the media in connection to the recent market volatility as “Singapore-based” were not representative of… More

  • two-bitcoin-price-prediction-polls,-same-outcome:-$10k-btc-is-coming
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    Two Bitcoin price prediction polls, same outcome: $10K BTC is coming

    While a classic technical indicator could be hinting at BTC price falling below $13,000 as well. Bitcoin (BTC) investors in China plan to buy the dip despite an ongoing market correction and a nationwide crypto ban, a new survey shows.Consensus sees Bitcoin at $10KA survey of 2,200 people conducted on China-based social media platform Weibo… More

  • terra-crash-highlights-stablecoin-risk-to-financial-stability:-ecb
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    Terra crash highlights stablecoin risk to financial stability: ECB

    A recent ECB report says stablecoins are not practical as a mode of payment and their current form isn’t fit for use in the real economy. The European Central Bank (ECB) has released a report analyzing the growth of the cryptocurrency market over the past decade and the risks it poses to the existing financial system.A section… More

  • double-bubble?-terra’s-defunct-‘unstablecoin’-suddenly-climbs-800%-in-one-week
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    Double bubble? Terra’s defunct ‘unstablecoin’ suddenly climbs 800% in one week

    The USTC price rally does not mean it would reclaim its lost U.S. dollar peg in the future. Terra’s $40-billion experiment to create a functional “algorithmic stablecoin” project has failed drastically following its collapse in May. Nonetheless, its native stablecoin TerraClassicUSD (USTC), earlier called TerraUSD (UST), has been thriving in the past week.Dead stablecoin walkingTo… More

  • xrp-price-technical-breakdown-boosts-chances-of-a-40%-drop-by-july
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    XRP price technical breakdown boosts chances of a 40% drop by July

    XRP’s bearish outlook is driven by a mix of technical and fundamental factors that could see its price drop to $0.18 next. Ripple (XRP) price stares at potential losses in the coming weeks as it breaks out of a “descending triangle” pattern, with its bias skewed toward the downside.Major XRP breakdown underwayTo recap, XRP started forming… More

  • binance.us-faces-class-action-lawsuit-over-luna-and-ust-sale
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    Binance.US faces class-action lawsuit over LUNA and UST sale

    The lawsuit could be the first of many for U.S.-listed crypto exchanges that offered LUNA or UST to customers. Binance.US, the sister company of global cryptocurrency exchange Binance, is facing a class-action lawsuit from investors for the sale of LUNA and TerraUSD (UST).A group of investors filed a class-action lawsuit in the Northern District of California on… More

  • legal-troubles-mount-for-terraform-labs-as-seoul-police-investigate
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    Legal troubles mount for Terraform Labs as Seoul police investigate

    South Korean authorities are currently investigating Terraform Labs and its employees on several charges including tax evasion and market manipulation. Terraform Labs, the parent company behind the collapsed Terra ecosystem, is currently under multiple investigations from the South Korean authorities.The latest investigation revolves around the alleged embezzlement of Bitcoin (BTC) from the company’s treasury. According… More

  • south-korea-ramps-up-crypto-investigations-and-regulations
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    South Korea ramps up crypto investigations and regulations

    South Korea announced Digital Assets Committee, launched an investigation and met with Asia-Pacific financial authorities. On Friday, South Korea’s Financial Supervisory Service (FSS) began an investigation into payment gateway services that work with digital assets. The FSS is South Korea’s financial regulator that operates under the Financial Services Commission (FSC), both of which are government… More

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