Author: Kryptonews

Four years after the Luna meltdown, a new development is shedding light on the dramatic collapse of the multi-billion-dollar crypto project. Terraform Labs sues Jane Street, alleging insider trading and market manipulation during the 2022 TerraUSD collapse that erased $40 billion. Filed by court-appointed administrator Todd Snyder, the complaint claims Jane Street shorted TerraUSD (UST) while aware of significant liquidity shifts, allegedly accelerating a collapse that wiped out more than $40 billion in market value. The estate seeks to recover damages resulting from what it terms a coordinated strategy to exploit Terraform’s internal vulnerabilities. The lawsuit claims that Jane Street…

Days after JPMorgan Chase & Co. admitted to debanking President Donald Trump after the Jan. 6, 2021 attack on the Capitol, the Federal Reserve seeks comments on its proposal that would stop government supervisors from pushing banks to sever ties with lawful customers based on their activities, including crypto companies.”We have heard troubling cases of debanking — where supervisors use concerns about reputation risk to pressure financial institutions to debank customers because of their political views, religious beliefs or involvement in disfavored but lawful businesses,” including cryptocurrency, said Vice Chair for Supervision Michelle W. Bowman.”Discrimination by financial institutions on these…

A major shareholder in Empery Digital has called on the company to abandon its Bitcoin-centric strategy, sell its digital asset holdings and return the proceeds to investors, along with demanding the resignation of the CEO and the entire board of directors.In a letter to the company’s board on Monday, Tice P. Brown, who is the beneficial owner of roughly 9.8% of Empery Digital’s outstanding shares, accused management of entrenching themselves at shareholders’ expense. Brown said that Empery Digital’s leadership privately approached him on Feb. 18 with an offer to repurchase all of his shares at a price equal to 100% of…

Ether (ETH) dipped below $1,900 during Asian trading hours on Tuesday, extending 30-day losses to 38% as President Donald Trump’s tariffs soured investor sentiment. Several market and technical indicators show that the ETH price may fall further before any recovery attempts by the bulls.Key takeaways:Ether trades below its realized price, which has historically marked bearish continuation phases. ETH price may not find a bottom until its 50-week moving average crosses below the 100-week average.The Coinbase Premium at a 3.5-year low and persistent ETF outflows reflect strong selling by US traders.Ether falls below its realized priceEther’s 38% drop over the last month…

An acclaimed Kara Walker sculpture, abstractions by beloved painters of the past and present, and a video about two lizards in Covid-era New York are among the 158 artworks acquired last year by the Museum of Contemporary Art Los Angeles, which revealed the newest pieces to enter its holdings on Tuesday. Fifty of the artists behind those works have never before seen their art acquired by MOCA, one of LA’s top museums. The Walker sculpture, Unmanned Drone (2023), is perhaps the most high-profile work of the bunch. It is currently on view in the exhibition “Monuments,” a co-production between MOCA…

Crypto exchange Kraken is launching what it calls the first regulated perpetual futures contracts based on tokenized stocks, the firm told CoinDesk.The products, available to eligible non-U.S. users in more than 110 countries, track digital versions of major U.S. stocks, indices and a gold ETF, building on the tokenized equities offering of xStocks that Kraken acquired in December.Initial listings include tokenized versions of the S&P 500, the Nasdaq 100, Apple, Nvidia, Tesla and SPDR’s gold ETF (GLD), the firm said.Kraken’s launch matters because perpetuals trading has enjoyed a rapid growth, dominating crypto derivatives trading. Blockchain-based decentralized exchanges processed over $600…

Everyone is talking about the Citrini Research report that sent the market into a tailspin yesterday. Buried in its 7,000 words of wisdom is a huge buy signal for Solana and Ethereum Layer 2s.The report, entitled The 2028 Global Intelligence Crisis, is a work of fiction that explores a future scenario in which AI disruption leads to what it describes as a “negative feedback loop with no natural brake”. JUNE 2028. The S&P is down 38% from its highs. Unemployment just printed 10.2%. Private credit is unraveling. Prime mortgages are cracking. AI didn’t disappoint. It exceeded every expectation.What happened?​​​​​​​​​​​​​​​​https://t.co/JzzwCrbJgS— Citrini…

Blockchain analytics company Nansen will establish a local entity and build a Bhutan-based team in Gelephu Mindfulness City (GMC), expanding into the kingdom as its Special Administrative Region advances its digital asset strategy.According to a joint announcement shared with Cointelegraph, Nansen plans to incorporate within GMC and develop on-the-ground analytics capabilities to provide blockchain data and market intelligence to industry participants operating in the region.GMC is a purpose-built Special Administrative Region in southern Bhutan focused on long-term economic development. The region has previously announced digital asset initiatives spanning custody infrastructure, tokenization, institutional liquidity and regulatory frameworks.The move does not replace…

The British Museum is gearing up for a major logistical challenge: moving the iconic Bayeux Tapestry from Normandy to London. According to the online publication Arts Professional, the museum has set aside £1.2 million to cover the transport, including all the preliminary work needed to get the 11th-century masterpiece safely across the Channel. The tapestry is already being covered by a UK Treasury guarantee of around £800 million ($1 billion). Now the museum has confirmed the extra cost of transporting the 230-foot-long embroidered wall hanging as part of its nine-month loan. It will be on show in London from September…

Binance, the world’s largest crypto exchange by trading volume, is returning to offer tokenized stocks nearly five years after shelving a similar product under regulatory pressure.The exchange has teamed up with tokenization specialist Ondo Finance to list 10 tokenized U.S. stocks, ETFs and commodity-linked products on the Binance Alpha platform, the companies said in a Tuesday press release. Binance Alpha is a platform within Binance Wallet, the exchange’s crypto wallet service, that allows users to trade early-stage, riskier crypto projects before listing them on the centralized spot marketplace.The lineup includes blockchain-based token versions of Apple, Google, Tesla and Nvidia shares,…