Terra (LUNA) blockchain developer Terraform Labs (TFL) has gifted the Luna Foundation Guard 10 million LUNA worth around $820 million at current prices. The Luna Foundation Guard (LFG) is a nonprofit organization attached to Terra that is tasked with collateralizing the network’s algorithmic stablecoin Terra USD (UST) to keep it pegged with the U.S. dollar.…
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The crypto industry has reacted strongly against a EU Parliament committee voting in favor of a regulatory package for tighter know-your-customer (KYC) and anti-money laundering (AML) rules for ”unhosted” private wallets. The new guidelines would require crypto service providers — most commonly exchanges — to verify the identity of every individual behind an unhosted wallet…
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U.S. Bitcoin mining firm Core Scientific has posted bullish 2021 fiscal year results compared to the year prior, with its revenue increasing by 803% to $544.5 million and gross profit growing 2,443% to $238.9 million. The major BTC miner highlighted growth in hash rate, mining equipment sales, hosting revenue, digital asset mining income as key…
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Keenon Dequan Ray Jackson, the rapper who goes by the name YG appears to show off a fat $30 million stack of Bitcoin (BTC) in his latest music video. The reveal appears to either be an eye-watering — but possibly fake — flex, or a crafty bit of product placement, as a cold storage device…
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The Department of Justice (DOJ) has taken action against an alleged NFT rug pull, after it slapped the founders of the Frosties project with charges relating to fraud and money laundering. The two founders are accused of purposely concealing their identities to operate a rug pull on the Frosties community by failing to deliver on…
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The U.S. Securities and Exchange Commision (SEC) has been granted an extension to submit a discovery schedule relating to individual defendants Brad Garlinghouse (CEO) and Chris Larsen (co-founder) as part of the case against Ripple Labs. The bitter legal dispute has been going since late December 2020, after the SEC alleged that Ripple Labs generated…
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The Australian Competition and Consumer Commission (ACCC) is taking Meta Platforms, Inc. (formerly Facebook) to the Federal Court, alleging that the firm and its Irish branch engaged in “false, misleading or deceptive conduct” by publishing scam celebrity crypto ads. Some users have lost hundreds of thousands of dollars to the sophisticated and long running scams…
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The founder of Terraform Labs (TFL) and Ethereum competitor Terra (LUNA) Do Kwon has outlined plans to accumulate a whopping $10 billion worth of Bitcoin (BTC) to add to the project’s stablecoin reserves. Terra is a decentralized blockchain platform that specializes in stablecoin minting. Its Terra USD (UST) is an algorithmic stablecoin pegged to the…
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A former blackhat hacker who goes by the name Gummo online claims to have amassed around $7 billion worth of Bitcoin (BTC). Despite a flood of positive comments and posts relating to his interviews with the Soft White Underbelly YouTube channel — which has 3.18 million subscribers — information about Gummo is scarce elsewhere, which…
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Democratic Senator Elizabeth Warren is preparing a bill to crack down on the use of crypto as a way to avoid economic sanctions. Warren’s latest anti-crypto move comes alongside a push from the U.S. government to stamp out the possibility of Russia using crypto to skirt a host of economic sanctions placed on the nation.…
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