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Meta Kills Crypto Payments Wallet, Novi
It has been about three years since Facebook announced its global cryptocurrency project, Libra. Since then, the project progressed through several stages of development and decline, until it finally became clear that the project could not successfully exist due to regulatory restrictions. 📌 In current reality, Mark Zuckerberg is forced to close another project — a crypto payment wallet called Novi — due to this story.
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Cardano Team Commences Countdown for Vasil Network Upgrade
Input Output, the lead developer behind the Cardano blockchain, has entered the final stage before launching the much-awaited Vasil hard fork. 🚀 This long-awaited update to the Cardano network will expand the blockchain's capabilities and significantly increase its throughput. Cryptocurrency holders, investors, and crypto-enthusiasts have been waiting for this event for a long time. It looks like it will happen soon! 🕛
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Dogecoin Pumps 8% After Elon Musk Says He's Still Buying💥
As Bitcoin and major altcoins are getting hammered amid the crypto market crash, Dogecoin rose over 10% from near-record lows on Sunday after Tesla CEO Elon Musk said he would continue to buy the cryptocurrency. In under 24 hours, the coin surged 8% to $0.058 after Musk tweeted, "I will keep supporting Dogecoin."
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Crypto market crash: Why is crypto crashing?
Cryptocurrency markets have hit a new low for the year, with a market capitalization of $971.53 billion as of Monday, down more than 12% from Sunday's market capitalization of $1.02 trillion. This means that in 2022, the worldwide cryptocurrency market valuation has dropped by about $1 trillion, and nearly every major coin is now worth half or even less than its all-time high. Analysts assume that the market drop coincided with a similar capitulation of tech stocks recently, implying that the two are reacting in lockstep to external market pressures.
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MoneyGram Partners with Stellar to allow users to Trade USDC and Fiat Currency
MoneyGram International, one of the world's leading cross-border transfer platforms, has teamed up with the Stellar blockchain to develop a stablecoin-based platform for money transfers. The decision comes as remittances become increasingly common in emerging economies and heightened scrutiny of stablecoins that are supposed to maintain a 1-to-1 relationship with a commodity or currency like the US dollar.
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JPMorgan Has Started Using Blockchain for Collateral Settlements
JPMorgan (#JPM.N) predicts significant growth in the use of blockchain in the banking sector. The company has already assessed the prospects of such a solution. For example, the global investment bank has been using a blockchain for collateral settlements, allowing its clients to use a wider range of assets as collateral and trade outside market operating hours. The first transaction of this nature took place on May 20. 🤔
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Terra to launch Luna 2.0
Terra will launch a new Luna token, Luna 2.0 on May 27. 66% of Luna holders and validators were in favour of Terra Labs founder Do Kwon’s recovery plan following the massive Luna crypto crash this month. So what is Luna 2.0 exactly all about?
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Balenciaga Stores in New York and Beverly Hills to Accept BTC and ETH
According to Bitcoinist, Balenciaga stores in New York City and Beverly Hills will begin accepting payments in Bitcoin (#BTCUSD) and Ethereum (#ETHUSD). The option will be available at the brand's flagship stores on Madison Avenue in NY and Rodeo Drive in BH. In addition, clothing at Balenciaga will also be available for tokens.
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ETH 2.0 could happen in August
The long-awaited switch from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism on the Ethereum network appears poised to happen in August.
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PayPal looks to embrace all possible crypto and blockchain services
The popular world-known payment service provider, PayPal, has announced plans to embrace all possible crypto and blockchain services.
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Ecuador has installed its first Bitcoin ATM
Ecuador has installed its first $BTC/USD ATM, following in the footsteps of other South American countries.
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What is happening with Terra Luna and UST?
It has been a tough week for Terra Protocol, with UST and LUNA crashing hard. The protocol’s algorithmic stable coin tumbled below $0.3 before rebounding to 50% of its peg value
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