Der neue Indexfonds von Grayscale, der auch Krypto-Unternehmen abbildet, wird ab morgen an den Börsen in Deutschland, England und Italien handelbar sein.
Großer Validator schlägt „völlig neue Chain“ anstelle von Terra vor
Der Betreiber eines großen Validatorknotens von Terra ist unzufrieden, wie sich die Situation um das Anhalten der Chain abgespielt hat und hofft, dass es eine völlig neue Chain anstelle der alten geben wird.
Binance to help Terra rebuild but expects more transparency, CEO ‘CZ’ says
Binance CEO Changpeng ‘CZ’ Zhao says the leading cryptocurrency is ready to support Terraform Labs and its community’s rise from the ‘ashes’. However, he expects the team behind the LUNA and UST tokens to offer more transparency and accountability.
LUNA and UST’s collapse this past week caused ripples and attracted a lot of attention from around the crypto community and elsewhere. Among these reactions have been “falsehoods circulating in crypto twitter,” regarding what happened.
1/8 These past weeks have proven to be a watershed moment for the crypto industry. We have witnessed the rapid decline of a major project, which sent ripples across the industry, but also a new found resiliency in the market that did not exist during the last market downswing.
— CZ 🔶 Binance (@cz_binance) May 15, 2022
Regarding Binance’s support for Terra, Zhao explained that his viewpoint is that “minting, forking, don’t create value.” According to him, mechanisms that allow for buying back,or burning work. However, this requires funds that Do Kwon and his Terraform Labs team may not have access to.
Binance will therefore work towards helping the team. But more needs to be done.
“In this regard, I would like to see more transparency from them. Much more! Including specific on-chain transactions (txids) of all the funds. Relying on 3rd party analysis is not sufficient or accurate. This is the first thing that should have happened,” he said.
Projects can and will fail, but…
Zhao acknowledges that failures can and will happen. Nonetheless, when such setbacks occur, it needs the team behind the project to be more transparent, act with speed and communicate. Owning up when failures happen is also vital, the Binance chief added in a Twitter thread on Sunday.
Zhao said Binance supported Terra’s first fundraising but not the second one. The leading exchange did not also acquire any TerraUSD.
“I am just hoping that the project teams can rise from the ashes and rebuild in a proper and sensible way. Regardless of my personal views, or the solution chosen in the end, we will always be here to support the community in any way we can”
Terra collapsed dramatically last week, with de-pegging of UST from the dollar sending both the stablecoin and LUNA to zero. Binance halted and then resumed spot trading for LUNA and UST.
The post Binance to help Terra rebuild but expects more transparency, CEO ‘CZ’ says appeared first on Coin Journal.
Despite the Terra debacle, the UK to recognise stablecoins as legal tender
We only seek to legalize fully backed stablecoins says the Treasury
As the crypto world gears up to deal with the consequences of the death spiral suffered by the Terra ecosystem last week, the United Kingdom’s Department of Treasury announced that its plans to regulate stablecoins as a legal tender continue to stay in place.
The announcement has reinstated Her Majesty’s Treasury’s commitment to supporting innovation in the country.
The department has confirmed that the legalisation of stablecoins as a payment mechanism was part of the financial legislation section of the Queen’s speech. Prince Charles explained that the nation was undertaking various legislations across the board to improve living standards and promote growth.
The Economic Crime and Corporate Transparency Bill will play an important role in achieving these goals as they strengthen the power of law enforcement officers to tackle illicit finance and reduce economic crime, which will facilitate business growth, the Prince of Wales said.
While the UK’s Economic and Finance Ministry department confirmed last month that its constitution would be amended to make way for the use of stablecoins, scepticism regarding the future of such legislation grew as the markets crashed last week following the downfall of LUNA and UST due to the crash witnessed by Terra, one of the most popular stablecoins.
The Treasury’s Chancellor, Rishi Sunak, hinted that the events of last week did not impact the country’s plans, adding that the government will take all steps to ensure the UK financial services industry is always at the forefront of technology and innovation.
A Treasury spokesperson further pointed out that the UK will not legalize payments via “algorithmic stablecoins” like Terra but instead supports 1:1 fully-backed stable coins like USDT or USDC:
“The Government has been clear that certain stablecoins are not suitable for payment purposes as they share characteristics with unbacked crypto assets.
We will continue to monitor the wider crypto asset market and stand ready to take further regulatory action if required.”
The post Despite the Terra debacle, the UK to recognise stablecoins as legal tender appeared first on Coin Journal.
Ether (ETH) droht Einbruch um 25 Prozent: Klassischer Bärenwimpel auf dem Chart
Ethereum könnte ein weiterer Einbruch drohen, obwohl er sich den letzten drei Tagen um über 20 Prozent erholt hat.