tl;dr
• Looking at the meltdown of Terra, I am looking at how other to other stablecoins work and why they are still very important• Binance CEO, CZ, does not think the recovery plan for LUNA will work• With crypto and stablecoins in the crosshairs in the UK, the Queen gives a positive nod• Allegedly, acc...
• Looking at the meltdown of Terra, I am looking at how other to other stablecoins work and why they are still very important
• Binance CEO, CZ, does not think the recovery plan for LUNA will work
• With crypto and stablecoins in the crosshairs in the UK, the Queen gives a positive nod
• Allegedly, accused metaverse project, Flamingo Casino Club, targeted US citizens with bogus NFT sales
• Soccer club RCD Espanyol de Barcelona will be the first club to accept crypto payments
OK, so it is the beginning of the week. Here is what is on my mind today:
1. Looking at the meltdown of Terra, I am looking at how other to other stablecoins work and why they are still very important. I use stablecoins as pairs with other coins I want to acquire. Although I can understand why people would hold stablecoins, I have never and have no plans to.
2. Binance CEO, CZ, does not think the recovery plan for LUNA will work. I am in no way surprised by his position. I read the release by Do Kwon. I was left sitting there wondering why he thinks there would be a path ack for UST and LUNA. I am pretty sure he's smarter than I am when it comes to these things, but I am not seeing a positive outcome from the plan. Mind you, Binance has invested in hundreds of projects, including the first round for Terra.
3. With crypto and stablecoins in the crosshairs in the UK, the queen gives a positive nod. In a speech delivered on her behalf by Prince Charles, she shined a positive light on stablecoins. It has been long expected that stablecoins would be brought under the regulatory authority of the Kingdom. This may pose an issue for algorithmic stablecoins like Tether but prove to be an easy task for coins like USDC that are backed by valued assets.
4. Allegedly, accused metaverse project, Flamingo Casino Club, targeted US citizens with NFT sales the funds from which were supposed to be used to build the metaverse casino. Remember what I said about too good to be true? Well, this alleged scheme promised chances to win things like iPhones, Teslas and even millions in cold, hard cash. Now, Texas, Alabama, New Jersey, Kentucky and Wisconsin are saying the project is a scam. Shocker there.
5. In more adoption news, Soccer team RCD Espanyol de Barcelona will be the first club to accept crypto payments. The team has partnered with Crypto Snack to become the first La Liga team to allow fans to buy tickets with crypto. I am expecting them to have an even greater success than AMC Theaters did when they adopted crypto. Soccer is that popular.