Crypto Biz: Luna's meltdown will live on in disgrace, 5-11.  May 2022

Crypto Biz: Luna’s meltdown will live on in disgrace, 5-11. May 2022 – Mail Bonus

The collapse of Terra forced cryptocurrency investors to ask questions they never thought possible: Will TerraUSD (UST) or Terra (LUNA) reach $ 1.00 first? The scope of this question gives a sobering reminder of how quickly things can change in cryptography. While Do Kwon, founder of Terraform Labs, is still provocative, many in the industry are starting to distance themselves from the protocols they thought were of real use to stablecoins and Bitcoin (BTC).

The risk of infection from Terra’s obvious collapse could take months or even years to fully measure, but it looks like cryptic winters are getting louder. Fortunately, blockchain projects are booted with tens of billions of dollars. They will continue to build. Can you wait a little longer to realize your thesis on investing in digital assets?

Celsius Network denies rumors of significant losses due to market instability

The fallout from the UST / LUNA madness cast a negative light on the Celsius Network, a cryptocurrency-rich platform that was reportedly “eliminated” due to the events of the last 72 hours. But nothing could be further from the truth, Celsius’ leadership confirmed on Wednesday. Rod Bolger, CFO of the company, told Cointelegraph that “we are not significantly exposed to market fluctuations,” including the cryptocurrency crash caused by LUNA. CEO Alex Mashinsky also tried to correct the story.

FCA-managed Fasanara Capital raises $ 350M cryptocurrency and fintech VC funds

If you had read anything other than Terra News this week, you would have known that a prominent British investment firm raised $ 350 million for a new cryptocurrency and fintech venture capital fund. Fasanara Capital, which manages $ 3.5 billion in assets, has identified Web3 and cryptocurrency as a major investment opportunity – so much so that it intends to commit larger capital to start-ups than traditional venture capitalists. Venture capitalists do not care about the cryptocurrency market. They just want to accumulate as much equity in the industry as possible.

South America’s largest digital bank will allocate 1% to BTC, offering cryptocurrency investment services

Brazil’s digital bank with a risk of more than 50 million customers invests 1% of its net assets in BTC and makes it easier for people to buy, sell and store digital assets. Nubank, Latin America’s largest new bank, announced this week that it has partnered with Paxos to make its cryptocurrency a reality. Cointelegraph has been reporting for years that South America is a growing cryptocurrency hub. If you’re nervous about the market, check out what Nubank’s executive team has to say about the potential of cryptocurrencies in the area.

Michael Saylor calms investors after slumping market hurt MSTR, BTC

As Bitcoin fell below $ 30,000 – and the average BTC cost base of MicroStrategy – CEO Michael Saylor assured investors that his cryptocurrency-heavy business intelligence firm was not in any danger of being marginal. Saylor said it would take the Bitcoin price drop below $ 3,600 before the company would have to provide other collateral. Crypto Twitter has already accused Saylor of secretly selling part of its BTC repositories. That’s not true and neither is rumor that MicroStrategy is going bankrupt due to its Bitcoin reserves.

Can you stomach more LUNA diagnosis? Watch this video

The Market Report met outside of normal time this week when I joined fellow experts Jordan Finneseth, Marcel Pechman and Benton Yuan to talk about Terra Luna. We talked about what exactly went wrong with the Terra ecosystem, how ICT lost its connection and what this could mean for your portfolio over the next 12 months. You can watch the full rerun below.

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