The rise of this online betting platform and its subsequent fall has caused thousands of people worldwide to see their money disappear from one day to the next and increasingly lose hope of recovering what was invested in what will be one of the biggest online scams of this year 2022. Stay until the end and discover how this platform works to avoid possible losses of money in the future. What is U91 and how did it work? U91 is an online betting platform that was born at the beginning of this year 2022, its peculiar operation attracted the attention…
Author: Farwa Raza
The largest algorithmic stablecoin plummeted from $1 and is now changing hands at just a tenth of this value, as its market capitalization collapsed from $19 billion to $1 billion. The collapse of UST seemed to have had a far-reaching effect on many other cryptocurrencies, from related projects like LUNA, which plummeted to near zero, to larger projects like Bitcoin, who is fighting for $30,000. But there has been a big winner: DAI. ICD it is an algorithmic stablecoin, but that is all it has in common with UST. For one, it is issued by a decentralized autonomous organization (DAO)…
Bitcoin’s Fear and Greed indicator reached its worst level since the “corona crash” episode in March 2020. That month, bitcoin price closed down 25% against the dollar, after the pandemic accelerated the decline of several equity assets around the world. Bitcoin was not spared moments of stress on that occasion as one of the currency’s biggest daily drops was recorded with a 45% loss on its worst day. It is worth remembering that at the time each Bitcoin was $4,200 per coin, very different from the current price of US $30,000. However, after a few days, bitcoin skyrocketed and was…
Vitalik Buterinfounder of Ethereum, sent the equivalent of around 1 million dollars in ETH to the Dogecoin Foundation, responsible for DOGE. The transaction took place this Monday morning (16). Although he has not publicly commented on the reasons for this donation, it is worth noting that Buterin has been involved with Dogecoin since September of last year. Currently, the founder of Ethereum is listed as an adviser to Dogecoin on the cryptocurrency’s own website. In addition to this donation, Buterin has already donated 67 billion tokens Shiba Inu (SHIB) to help fight Covid-19. The difference is that those billion had…
The Bitcoin protocol was officially born on October 31, 2008, when its creator, the famous and unknown Satoshi Nakamoto, published it on a crypto mailing list. How Bitcoin was born Nothing is known of what happened before that, in part because no one knows who Satoshi Nakamoto really isbut it is known that on November 16 of that year Satoshi released the first code (Bitcoin Pre-Release), on January 3 of 2009 mined the first blockchain block by minting the first 50 BTC, and on January 9 published the first official version of the software (Bitcoin v0.1.0). At that time, BTC…
The Terra LUNA and UST butcher shop has shaken the faith of the cryptocurrency market and beyond in stablecoins. However, the leaders of the other leading stablecoin projects want you to know that they are nothing like UST and not all stablecoins are the same. As Cryptoreport has consistently covered in the past week, LUNA crashed and seemed to be heading for zero in a death spiral and has failed to function as expected as a plug for UST. At press time, UST is down to $0.17 after losing 83 percent of its value in the past week. LUNA, on…
After all, there may be hope for Terra UST stablecoin. One of Switzerland’s largest asset managers has announced that it is in talks to invest up to $3 billion in the project to revive it and bring it back to its $1 parity at a time when it collapsed and brought LUNA down with it. UST is an algorithmic stablecoin that relies on smart contracts and the free market to maintain its peg at $1 (though this could change in the near future). Its value depended on arbitrage traders minting LUNA when the UST exceeded $1 and burning it when…
There is no bigger story in the cryptocurrency market than the LUNA/UST debacle And the man directly in the middle of it all is Do Kwon, the founder of Terraform Labs, the company that created UST, LUNA, the Mirror protocol, and many other crypto products. And to add to the bad month he is having, his former colleagues have revealed that he was one of the key people behind another failed algorithmic stablecoin project: Basic Cash. A look into Do Kwon’s past in a failed stablecoin project UST is not the first algorithmic stablecoin in crypto, far from it. In…
the digital bank Nubank closed a partnership and will sell Bitcoin and Ethereum to its customers starting this Wednesday (11). Besides, Nubank announced the purchase of bitcoin for your deposit of value. Many companies are looking to gain exposure to this market that generated so much trading volume in the last year. Being his main figure Bitcoin, this market has reached important milestones and values above a trillion dollars for the first time. In this way, many companies bought bitcoin as a store of value currency. Others have launched this as a means of payment, making this sector much more…
The creator of Cardano and IOHK, charles hoskinson, stated that its $723 million treasury has its own growth fund and is decentralized. Charles’ response was in response to Sebastian Guillemot, the founder of dcSpark. It was in response to an appreciative tweet from Sebastian about how the Cardano treasury has a whopping $723 million in ADA. He wrote that companies like dcSpark could build seamlessly on Cardano’s treasury. dcSpark also announced that two major tool announcements would be made in 2 weeks. dcSpark is a crypto ecosystem that provides a platform to develop different crypto projects. Thanks to Cardano, it…