The world’s largest stablecoin Tether regains dollar peg after a stumble

    Tether (USDT), the world’s largest stablecoin, regained its peg to the US dollar on Friday after more than $3 billion worth of tokens left the system in a single day. On May 12, the stablecoin sunk as low as 95 cents and struggled to climb back to its intended dollar peg, as the recent collapse…

    KuCoin raises $150 million with a market cap of $10 billion to grow its Web3 platform
    12 May 2022
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    KuCoin, a global crypto exchange, announced a $150 million pre-Series B funding round, bringing its valuation to $10 billion. Led by Jump Crypto, the round saw the participation of multiple investment funds, including Circle Ventures, IDG Capital, and Matrix Partners. The exchange wants to use funds to further expand its Web3 ecosystem. According to Johnny…

    Arab-developed Bitcoin trading bot set to revolutionize the way people invest

    AYMBot, a fully-automated, algorithmic, Bitcoin-trading bot developed in Jordan, aims to revolutionize the way people generate wealth from cryptocurrency, according to its creator. AYMBot was designed to tackle the main issues and challenges associated with Bitcoin and cryptocurrency trading, including volatility and accessibility, CEO Ahmad Alsharqatli told Arab News. “The problem with crypto, that people…

    Bitcoin falls below $30,000, leading markets to over $1 billion in liquidations

    Bitcoin tumbles to its lowest price since July 2021 as tighter monetary policy continues to impact risk-on assets. Bitcoin and ether lost pivotal support level leading to massive losses for long futures traders. Bitcoin fell to $29,731 on Tuesday, its lowest level since July 2021, after dropping nearly 12% last week, its worst weekly loss…

    Bitcoin falls to 10-week lows amid global geopolitical uncertainty

    BTC crashed below $35.500, leaving over $400 million worth of liquidated positions in the process and taking the entire crypto market with it. Last week, Bitcoin had also witnessed the major outflows from the market, totaling $120 million, as the uncertainty of institutional investors continued to grow. However, MicroStrategy promised to support Bitcoin in the…

    Coinbase takes the first-ever loan from Goldman Sachs with Bitcoin as collateral

    Major crypto exchange Coinbase has taken out a loan from Goldman Sachs using its Bitcoin assets as collateral to strengthen ties between crypto and traditional banking. The amount of the historic transaction has not been disclosed, but the collateral for it was based on a portion of Coinbase’s Bitcoin Holdings. As of 2021, Coinbase owns…