Terra, Salvador, ECB, Madonna, DeFi

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  • 32 central banks and 12 CFOs from 44 nations meet in El Salvador during the day. according to the country’s president, Nayib Bukele, who claimed that on the menu of discussions are, among others, Bitcoin (BTC). Read more.
  • That Luna Foundation Guard (LFG), the official custodian of Terra’s bitcoin reserves, today issued a statement explaining how it is deferring millions of dollars in cryptocurrency in its failed attempt to hold on to its stablecoin terraUSD (UST). LFG notes that its BTC reserves have been almost completely depleted – falling from around 80,000 BTC to around 300. The remaining assets will apparently be used to compensate investors.
  • Major players in the crypto industry seem to reject the latest proposal from Make Kwon on how to align the Terra (LUNA) ecosystem. Last Friday, the co-founder was off Terraform LabsDo Kwon, presented a “recovery plan” that suggests the network is going through a hard fork and resetting supply to 1 billion tokens. Vitalik Buterin and CZ, CEO of Binance, responded.
  • Grayscale launches an ETF in Europe that will invest in Bitcoin and cryptocurrencies. The Fund Manager will place its Future of Finance UCITS ETF (ticker GFOF) on the London Stock Exchange, Borsa Italiana and Deutsche Börse Xetra, in collaboration with the white label ETF platform HANetf.
  • pop culture icon Madonna and digital artist Beeple will collaborate on a three-video NFT project with a naked CGI Madonna giving birth. The film is titled “Mother of Creation”.
  • GameFi, the most promising sector of Web 3.0? According to Footprint Analyticsincreased transactions related to the GameFi sector by 2,934% in 2021.
  • A football referee’s decision to toss a “Bitcoin coin” before the start of a football match has sparked controversy in Turkey. The country’s football authority is trying to determine why a cryptocurrency was used for the ritual, when that role should have been reserved for the Turkish lira.
Turkish referee turns Bitcoin on Istanbul Derby Kick-Off, Soccer Authority launches investigation
Source: https://news.bitcoin.com/
  • Cryptocurrencies can lead to “dollarization” of part of the economy, which may be against the country’s sovereign interests, senior officials of the Central Bank of India have told a parliamentary finance committee, according to an article from Press Trust of India.
  • DeFi attacks are on the rise. Dozens of DeFi systems have been hacked in the past year and the trend does not seem to be slowing down. According to the latest statistics, approximately $ 1.6 billion in cryptocurrencies were stolen from DeFi platforms in the first quarter of 2022. Furthermore, more than 90% of all stolen cryptocurrencies come from hacked DeFi protocols.
  • A digital euro can be issued by the European Union (EU) within four years, a senior EU official has said. European Central Bank (ECB). Peer-to-peer payments could be among the first uses.
  • Is Terra’s failure a signal of the lack of viability of algorithmic stack coins? Terra was without a doubt one of the most ambitious stablecoin protocols in the cryptosphere, arguably too ambitious, some would say in light of recent events. While the future of blockchain remains unclear, most players in the cryptosphere say, after a waltz of interruptions and then resumes of blockchain operations, that they are disappointed with the way this affair has been handled.

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