Solana-based stablecoin NIRV drops 85% following $3.5M exploit
The $3.5 million flash loan attack Solana-based Nirvana Finance saw the price of its stablecoin NIRV and native token ANA fall around 85% apiece.
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Solana-Based Algorithimc Stablecoin Plummets 99% After a $3.5M Flash Loan Exploit
Solana-based decentralized finance yield protocol, Nirvana, is the latest victim of a flash loan attack in the cryptocurrency space. Data from blockchain security firm, PeckShield, revealed that the attacker managed…
Nigerians Rush to Buy Bitcoin Amid Economy Collapse (Report)
The crash of Nigeria’s national currency (naira) reportedly pushed many residents to turn to alternative assets such as bitcoin and stablecoins to preserve their wealth. The peer-to-peer exchange LocalBitcoins marked…
South Korean Authorities Issued a Notice Upon Arrival to Do Kwon (Report)
The South Korean Ministry of Justice reportedly approved the prosecutors’ request that the notorious Co-Founder of Terraform Labs – Do Kwon – be ordered to notify authorities when he returns…
Stablecoin Bill Delayed to September After Treasury Raises Concerns
The House Financial Services Committee has pushed back its long-awaited stablecoin bill to September following objections from Treasury Secretary Janet Yellen. This will delay congressional discussions on the subject until…
Q2 2022 Cryptocurrency Report Highlights Terra’s Collapse and Capital Exiting the Crypto Ecosystem
On July 13, the dedicated crypto price tracking, volume, and market capitalization web portal Coingecko published the company’s “Q2 2022 Cryptocurrency Report” which discusses the last quarter’s crypto market action…
Holding Stablecoins Was More Profitable Than Fiat in 2022: Report
CryptoQuant – a blockchain analytics firm – has released a report evaluating data around stablecoins and their peg-robustness. It found that holding almost any of the current top stablecoins throughout…
Stablecoin Market Cap Slides, BUSD and DAI Valuations Jump, Fiat Tokens Represent 70% of All Crypto Trades
During the last month, the stablecoin economy’s market valuation dropped from $155.23 billion to $153.34 billion on July 20, sliding roughly 1.21%. The top two stablecoins by valuation, tether and…
Circle CSO lays out policy principles for stablecoins in US
Dante Disparte hinted the U.S. could take a leading role in stablecoin regulation in an effort to “avoid trans-Atlantic or global misalignment."
Long-Term Bitcoin Holders Did Not Sell Amid the Market Crash: Coinbase Research
Long-term bitcoin holders have not disposed of their holdings into the market weakness as short-term speculators are mainly responsible for the heavy selling that exacerbates the asset’s nosedive, according to…
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