A lawsuit filed in a district court in Illinois details Jump Trading's alleged involvement with Terra Labs in manipulating the price of algorithmic stablecoin TerraUSD (UST). According to court documents from May 9, the firm purchased millions of UST tokens in 2021 hoping to manipulate its value to reach $1. Plaintiff Taewoo Kim is accusing Jump and its CEO Kanav Kariya of violating both the Commodity Exchange Act and the Commodity Futures ...
Bitcoin bounced back from a near two-month low on Saturday, as bulls moved in to buy the recent dip in price. Saturday’s move came as the cryptocurrency rebounded from a recent support point, after yesterday’s breakout. Ethereum was also higher, climbing above $1,800.
Bitcoin
Bitcoin (BTC) moved away from a recent two-month low on Saturday, as bulls opted to buy the recent dip.
After falling to a low of $25,878.43 on Friday, BTC/USD rose...
Bitcoin (BTC) sought to pass $27,000 on May 13 after a “scam wick” produced new two-month lows.Michaël van de Poppe, founder and CEO of trading firm Eight, agreed that the May 12 daily candle had turned out to be “good.”Analysis before the local lows likewise flagged $26,500 as an important level to reclaim in order to consider long positions.#Bitcoin is showing weakness and #altcoins are slightly bouncing in their BTC pairs as they have be...
Inflation in China registered an increase of 0.1% year-over-year in April, according to numbers from the National Bureau of Statistics of the country, falling below expectations. Some analysts are already warning about the dangers of deflation, even calling on the Chinese government to deliver cash handouts in order to push consumer demand.
Low Inflation Numbers in China Worry Analysts
China, one of the biggest economies in the world, ha...
Creditors of the bankrupt Canadian crypto exchange QuadrigaCX are set to receive 13% of their total claims as part of an “interim dividend.” According to a May 12 notice to creditors from QuadrigaCX’s bankruptcy trustee Ernst & Young (EY), each “creditor with a proven claim will receive 13.094156% of their proven claim less the levy amount payable to the Office of the Superintendent of Bankruptcy pursuant to the BIA.” “The interim divid...
The International Monetary Fund (IMF) has warned of “very serious repercussions” to both the U.S. and the global economy if the U.S. defaults on its debt obligations, which could be as soon as June 1. “We are calling on all of the parties to come together, reach consensus, and resolve the matter as quickly as possible,” said the IMF’s director of communications.
IMF Warns About U.S. Debt Default
The International Monetary Fund (IMF) has ...
Digital asset firm Bakkt has dropped 25 of the 36 crypto tokens listed on its recently acquired trading platform Apex Crypto. A spokeswoman for the company told Cointelegraph on May 12 that the decision was "part of our regular coin listing review process," and added that:"Our clients’ and their consumers’ best interests are our core commitment, and our review process ensures those interests are best served when we contemplate the most up-t...
Billionaire investor Elon Musk will be stepping down as chief executive of Twitter and taking on other roles in the company. The owner of the microblogging platform revealed he has hired a new CEO, media executive Linda Yaccarino, who should be at the helm of the social media giant in less than two months’ time.
Elon Musk to Leave CEO Post at Twitter and Become Company’s CTO
Entrepreneur Elon Musk announced he has found someone to replac...
Two United States Senators from opposite sides of the political aisle have reintroduced legislation from 2022 aimed at mitigating perceived risks posed by El Salvador’s adoption of Bitcoin as a legal currency.Congressional records showed Idaho Senator James Risch and New Jersey Senator Bob Menendez introduced “a bill to require reports on the adoption of cryptocurrency as legal tender in El Salvador” on May 11. The legislation appeared to b...
Macro Markets, hosted by crypto analyst Marcel Pechman, airs every Friday on the Cointelegraph Markets & Research YouTube channel and explains complex concepts in layperson’s terms, focusing on the cause and effect of traditional financial events on day-to-day crypto activity.Today’s show starts by discussing the economic crisis in Argentina, a Latin American country that is experiencing hyperinflation. After years of populist measures,...
