Two years and seven months after Facebook announced Libra, it's dead before it was ever born. But Meta isn't done with crypto.

Decentralized finance is often considered hackproof. However, hackers are an ingenious lot and have devised methods to breach the seemingly invincible fortress of cryptocurrency. In the latest hack concluded by hackers, a flaw in the smart contract code used in an Ethereum bridge has been exploited. The latest victim is Qubit Finance, a decentralized platform.

The post Hackers Siphon Off $80 Million in Cryptocurrency from Qubit DeFi platform appeared first on CoinGape.

After a rollercoaster January, Wall Street is now expecting the Fed to aggressively raise interest rates over the course of the year as they scramble to control inflation. The US dollar is once again king as most economists are now expecting the Fed to deliver anywhere between 3-7 rate hikes this year. The upcoming week […]

An age-old saying states that there are only two certainties in life: Death and taxes. Whoever came up with that saying clearly coined the phrase before crypto, I would add one more to that list, and that is fees! Not all exchanges are created equal in terms of fees, asset support, rewards distributions, features etc., which is […]

The post OKcoin-Fee Free Earning and Low Fee Trading! appeared first on Coin Bureau.

LUNA has been dropping sharply in the past few days, deeper than larger cryptocurrencies. As of press time, Terra’s native token moves on critical support barely above $50 with a 16.4% loss in the last 24 hours. Related Reading | Terra Announces Non-Profit ‘Luna Foundation Guard’ According to Wu Blockchain, the token lost as much as 20% in the last day. Apparently, retail investors have been panic selling their LUNA funds due to concerns about several of its dApps and UST. The latter is one of many stablecoins operating on the Terra ecosystem which is based on a supply and demand mechanism to maintain its peg. As NewsBTC reported back in December, UST has been gaining relevance across the DeFi sectors. The stablecoin allows holders access to the Anchor Protocol, Terra-based lending and borrowing application that consistently offered its users a 19.5% compounding yield on their UST deposits. This rate surpasses that of its competitors, some of which have issues offering a 10% yield with similar products. However, the current downtrend in the crypto market has heavily impacted LUNA and the Terra ecosystem. Some users believe the ecosystem as a whole could be in danger as a result of a reduction in Anchor’s reserves which according to some projections could reach $0 in the coming weeks. Without these funds, the protocol would be unable to pay off its users and due to Terra’s mechanism, it could trigger a fresh leg down across its assets. The pegged in UST has been offered in the past days, as more users seem to believe this theory. Thus, panic spreads amongst sellers looking to mitigate their losses. As of press time, UST has seen an important recovery as it hit a multi-month low of 0.98 versus the U.S. dollar. Terra (LUNA) Inventor Addresses Concerns Around Anchor Do Kwon, co-founder, and CEO of Terraform Labs, the entity behind Terra’s ecosystem, recently addressed the controversy generated around Anchor and UST. In an attempt to counterbalance the FUD, as some LUNA holder has called it, Do Kwon emphasized Anchor’s objectives. The first, he wrote on a Twitter thread, is to make market yields on stablecoins less volatile, while increasing the capital efficiency of the platform. Anchor’s Yield Reserve is a “centerpiece” to address these issues, but this component of the protocol can operate with a surplus or a deficit. Kwon said: Recently as leverage started to wind down from crypto markets, deposits have gone up a lot and borrowing down. The yield reserve has been running at a deficit to maintain the deposit yield. Users seem to believe that the Yield Reserve, Kwon said, should “always operate at a surplus”, and that the YR depletion will “have disastrous consequences”. The co-founder of Terraform Labs said that Anchor’s Yield Reserve was always designed to be used on current market conditions. On the second widespread concern by users, Kwon said that if the protocol runs out of funds in its Yield Reserve, it will “operate as a regular money market” still offering users around 15% to 16% in incentives. Therefore, he concluded that the protocol, and by extension the ecosystem, “will be fine”. Related Reading | NEAR Records 70% Rally On Terra Integration, Will It Close The Year In Profit? In the future, the team at Terraform Labs will make improvements to reduce “LUNA dominance in Anchor collateral under 40%”. In that way, a similar situation could be prevented. In the meantime, Kwon said: I am resolved to find ways of subsidizing the yield reserve. Anchor is still in the growth phase, and maintaining the most attractive yield in DeFi stable will strengthen that growth & build up moats.

The MIT Cryptoeconomics Lab was founded by Catalini. Celsius has announced that it would integrate Chainlink Proof of Reserve (PoR).

The post has appeared first on thenewscrypto.com

Crypto exchange Binance has partnered with Paysafe to allow EUR deposits and withdrawals via the SEPA payment network. “The full re-opening of SEPA channels will scale up across the markets in due course,” Binance noted. Binance Resuming SEPA Transfers in Phases Cryptocurrency exchange Binance announced Wednesday that it has “reopened EUR bank transfer by SEPA.”…

The post Binance Begins Allowing EUR Deposits and Withdrawals via SEPA Payment Network appeared first on Bitcoin News Miner.

Ethereum’s value against bitcoin has plunged by more than 26% since its high of 0.088 BTC in December. The crypto now goes for 0.065 bitcoin per eth, its lowest level...

The CFO of Wonderland DeFi project has been outed as a co-founder of QuadrigaCX, the now-defunct crypto exchange as we are reading more about in our latest cryptocurrency news today. The latest reports show that the co-founder of Wonderland was behind one of the crypto’s most scandalous exchanges QuadrigaCX. 0xSifu as the co-founder and CFO […]

The Biden Administration's secret crypto strategy is becoming clear: it wants to force stablecoin issuers into the arms of big banking.

TurboXBT is a groundbreaking synthetic trading platform that allows online traders to earn up to 90% profits in 30 seconds, trading short-term contracts in a secure, spam-free environment.

The post Is TurboXBT legit? Here’s what you need to know about the platform appeared first on CryptoSlate.

“For the last 20 years, I have talked to many SMEs around the globe and they have the

The post The Leaders Taking Over Real-World Asset Finance appeared first on Crypto-News.net.