“Be content to act, and leave the talking to others.”
-Baltasar
Happy Saturday Folks! As expected, the news cycle was driving by all the stuff going on with Terra's Blockchain and it's asset LUNA, it's unstablecoin $UST, and its yield protocol $ANC. The earthquake caused by the $UST depegging also impacted other Stablecoins like $USDT. However the WEB3 world was right behind it due to Meta announcing the start of NFT testing on Instagram. Bitcoin dropping below $30K (Which it still remains there) continues to make one wonder if it will go lower; analyst sentiment points to the downside before going back up.
But don't fret, all is not lost. Latin America's largest bank Nubank (backed by Buffett himself) decided to allocate 1% of their reserves to $BTC AND El Salvador #BTFD with a 500 $BTC purchase. Lastly, Coinbase CEO talking about bankruptcy send shockwaves through the community with many scrambling to move their Bitcoin off the platform; Not Your Keys, Not Your Coins as they say.
Whatever you do - remain calm and HODL on, BTFD, and be patient - this too will pass.
LUNA SAGA
- Luna Foundation Guard Defends $UST Peg (TB | BIC | Cointelegraph | UToday | Blockworks | Bitcoinist | Cryptoglobe | Cointelegraph | ZyCrypto | TB | EWN)
- Terra founder Do Kwon shares plan to save the UST stablecoin peg (Cointelegraph | TB | Cointelegraph | UToday | BIC | Decrypt | UToday | TDH)
- $LUNA Terra Token Plummets 50% (Decrypt | UToday | Cointelegraph | Finbold | Bitcoinist | TB | BIC | Trustnodes)
- $LUNA drops below $1 (Forbes | Trustnodes | TB | Decrypt | CryptoPotato | Coindesk | Forbes)
- Maker Explodes 30% Overnight as Terra’s UST Stablecoin Struggles (Decrypt | UToday | BIC | TB | Decrypt | TB)
- Terraform Labs Launch 3 Emergency Actions to Save LUNA, UST Stablecoin (Decrypt | Cointelegraph | TB | UToday | Bitcoinist)
- Terra blockchain halted to protect against possible attack (TB | Cointelegraph | Decrypt | Blockworks)
- $LUNA Down 96% From All-Time High, Terraform Labs CEO Says ‘Stay Strong, Lunatics’ (Cryptoglobe | Forbes | ZyCrypto)
- Binance suspends LUNA and UST trading amid issues on Terra blockchain (Cointelegraph | Trustnodes | Blockworks)
WEB 3
- Meta to start testing digital collectibles on Instagram (TB | EWN | ZyCrypto | Cointelegraph | UToday | Decrypt | CryptoPotato | Bitcoinist | Blockworks | TDH)
- NFT market well-positioned to grow 35% into a $13.6B industry by 2027 (Cointelegraph | BIC | Bitcoinist)
- Madonna Gives Birth To Flora And Fauna In 1st Beeple NFT Project (That’s NSFW) (Bitcoinist | CryptoPotato | Decrypt)
LEGISLATION/REGULATION/TAXATION
- Germany Won't Tax Bitcoin, Ethereum Sold After One Year of Possession (Decrypt | CryptoPotato | Blockworks | Bitcoinist)
- India’s Goods and Services Tax Council considers a 28% tax on Bitcoin (Finbold | UToday | EWN | TB)
BITCOIN
- Bitcoin (BTC) Briefly Trades Below $30,000 Sinking to New Yearly Low (BIC | CryptoPotato | TDH | Decrypt | Forbes | TB | Cointelegraph | UToday | CryptoPotato | Cointelegraph)
- Bitcoin Struggles at $30K as Crypto Market Cap Plummets to 10-Month Lows (CryptoPotato | BIC | TDH)
- Bitcoin falls back under $30K while 8.3% US CPI shows signs inflation has peaked (Cointelegraph | Trustnodes | UToday)
ALTCOINS
- Japanese Used Car Exporting Company Adds Support for XRP and Bitcoin (UToday | Cointelegraph | BM | Cryptoglobe | ZyCrypto | BIC)
- SHIB adds over 15,000 holders in a month despite wiping $4 billion from its market cap (Finbold | UToday | Cryptoglobe)
- Shibu Inu ($SHIB) (UToday | Decrypt | UToday | Cointelegraph)
- Luna ($LUNA) (Cointelegraph | Cryptoglobe | TB)
CBDCs/STABLECOINS
- Tether's market price slips below dollar parity amid ongoing stablecoin woes (TB | Cointelegraph | UToday | Decrypt | Forbes | Cointelegraph)
- UST stablecoin struggles to maintain $1 parity amid crypto market turbulence (TB | Decrypt | UToday | TB)
- Central Bank of Nigeria to Upgrade eNaira(CBDC) for More Uses, Including Bill Payments (BIC | Cointelegraph | CryptoPotato)
- Fed: Sharp Interest Rate Spikes and Stablecoin Runs Pose Risk to US Economy (BIC | Blockworks | UToday)
ANALYST'S CORNER
- Mike Novogratz: Remains Bearish on Crypto as Bitcoin Drops to 52-Week Low (UToday | Finbold | BIC | TDH)
CRYPTO MARKET WATCH
- Galaxy Digital reports $112 million quarterly loss as crypto prices drop (TB | Cointelegraph | Bitcoinist | BIC)
ACCEPTANCE/ADOPTIONS
- Latin America’s largest digital bank Nubank will allocate 1% to BTC, offer crypto investment services (Cointelegraph | BM | TB | BIC | Cryptoglobe | Bitcoinist)
- Japanese Investment Bank Nomura Starts Offering OTC Crypto Derivatives (Cryptoglobe | TB | BM)
- El Salvador announces new purchase of 500 BTC (TB | BIC | ZyCrypto | Decrypt)
- Bitcoin to the sky: Emirates to accept BTC payments and launch NFT collectibles (Cointelegraph | Finbold | Cryptoglobe)
- Minnesota diamond store Continental Diamond becomes first in the state to accept Bitcoin for jewelry purchases (Finbold | BM | UToday)
- Central African Republic Bitcoin Adoption (BIC | Finbold | Cointelegraph)
PEOPLE ON THE MOVE
- Julian Sawyer may be out as chief of Bitstamp after short tenure (TB | TB | Cointelegraph)
FOLLOW DAT MONEY
- Citigroup, Wells Fargo join $105 million round for crypto infrastructure firm Talos (TB | Cointelegraph | TDH)
CEFI/DEFI
- Bancor 3 goes live with impermanent loss protection for liquidity providers (Cointelegraph | Decrypt | Blockworks)
EXCHANGES
- Coinbase CEO Brian Armstrong Details Crypto Bankruptcy Risks if Black Swan Event Rocks Crypto Markets (TDH | Cointelegraph | Bitcoinist | BIC | UToday | TB)
- Coinbase CEO Blames RBI for Botched India Launch (CryptoPotato | TDH | Bitcoinist)
- SEC chief accuses crypto exchanges of trading against clients (Finbold | Decrypt | TDH)
THE BAD
- 5 state regulators allege organization is tied to Russia, scamming users using metaverse Flamingo Casino Club (Cointelegraph | BIC | Bitcoinist | CryptoPotato | Bitcoinist)
- Ruja Ignatova added to Europe's most wanted list as search for missing 'Cryptoqueen' widens (TB | Decrypt | BIC)
