Lloyd Blankfein, the former CEO of Goldman Sachs, has advised that businesses and consumers in the United States should prepare for a downturn. He emphasized that the risk is 'extremely high.'
'The same pattern has recently played out in crypto, only there's no substantial asset at the bottom of it like housing.'
Despite Terra's demise, the decentralized finance (defi) ecosystem continues to be illuminated by its own demise. Defi's entire worth has dropped from $231 billion to today's $112.29 billion, a loss of 51.38 percent in 42 days following Terra's aftermath.
The income disparity, technological stress, and overuse of jargon all contribute to a lack of financial and crypto literacy, which makes it difficult for the average person to understand cryptocurrency.
Although not all analysts are calling the development 'groundbreaking', it will undoubtedly aid the industry's fight against fraud.
Ethereum 2.0, also known as Eth2 or Serenity, is an upgrade to the Ethereum network that promises significant improvements.
Stablecoins are expected to face greater regulation, according to a US Securities and Exchange Commission commissioner. Treasury Secretary Janet Yellen, on the other hand, says stablecoins are 'not a serious threat' to the country's financial stability right now.
The Terraform Labs CEO submitted a 'Revival Plan' on Friday that would redistribute network ownership.
Do Kwon of Terraform Labs and his partners offered a bad bet to thousands of ordinary people. We're starting to realize the extent of the damage.
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.