In the first block of Bitcoin, Satoshi Nakamoto encoded a goal statement for the industry. In essence, crypto should first and foremost do no damage.
Concerns about the algorithmic stablecoin terrausd (UST) losing its $1 parity have grown as crypto markets continue to fall in value. On May 7, 2022, UST fell to $0.985 per unit against tether (USDT), sparking widespread concerns that the stablecoin might lose its dollar anchor. Following the dip on Saturday, the Luna Foundation Guard (LFG) announced that it was loan out millions of dollars in bitcoin and UST to keep the peg in place until market conditions normalized.
Failure to enforce sanctions against Russia in accordance with the larger financial services industry will cost the crypto sector dearly.
Prices are rising at a time when the public has little faith in government to solve the problem. That leaves bitcoin, the ultimate anti-inflation hedge, as an option.
The United States Treasury Department is stepping up attempts to halt the flow of stolen cryptocurrency following an unprecedented $620 million hack.
The Joe Rogan Experience host Joe Rogan compares bitcoin to the early internet. 'The government is freaking out,' he said, noting that Bitcoin is now a 'viable kind of cash' with which 'you can really buy stuff.'
Bentley University, a private university in Waltham, Massachusetts, has announced that it would now accept digital currencies as payment for tuition. The president of Bentley University stated that the institution has been 'at the vanguard in producing business leaders' and that the staff is 'glad to embrace' the technologies that its students are learning about today.
Bitcoin was slightly higher on Wednesday, as crypto markets recovered their green before the Fed meeting. In today's session, ETH also recovered, moving away from its long-term support level.
It's been six months, or around 180 days, since bitcoin hit an all-time high of $69K per unit on November 10, 2021, and the USD value of bitcoin has dropped 45 percent since then. Typically, once bitcoin's price peaks, it enters a bear market that sees its value plummet by 80 percent or more. However, given the recent price peak mirrors the expansion from April to November 2013, bitcoin's subsequent negative downturn may not be as significant this time.
100,000 Cubans are leveraging crypto assets, according to a report from the National Broadcasting Company (NBC), a broadcast television and radio network. According to the report, growing crypto usage is attributable to the fact that Cubans are unable to utilize certain payment methods due to US sanctions.