A daily round-up of the most interesting articles on cryptocurrencies like Bitcoin, Ethereum and Tether to help jump-start the day
Contents
Market Buzz
Bitcoin at Rs 16.20 lakh
Major cryptocurrencies were trading in the red early on September 21 as the global crypto market cap dropped 1.22 percent to $927.26 billion from the previous day. The total crypto market volume decreased 11.91 percent to $68.55 billion over the last 24 hours. The total volume in DeFi was currently $4.05 billion, 5.91 percent of the total crypto market 24-hour volume. The volume of all stable coins was $63.13 billion, which is 92.09 percent of the total crypto market 24-hour volume. The price of bitcoin hovered around Rs 16 lakh, with a dominance of 39.25 percent. This was a 0.44 percent decrease over the day, according to data from CoinMarketCap. Read full here
Big Story
Major crypto trader Wintermute hit by $160 million hack, CEO says
Hackers have stolen digital assets worth around $160 million from crypto trading firm Wintermute, its CEO tweeted on Tuesday, the latest heist to hit a sector long plagued by cybercrime. The theft targeted London-based Wintermute’s decentralised finance operations, Evgeny Gaevoy said in a tweet. The firm, which provides liquidity across major crypto exchanges and trading platforms, remains solvent after the hack, he added. Read details here
Around the Globe
Latest draft of US crypto law would temporarily ban Terra-Like stablecoins
According to Bloomberg, the latest draft legislation would ban algorithmic stablecoins like TerraUSD (UST) for two years, while regulatory agencies conduct a study of “endogenously collateralized” tokens. “Endogenously” means something produced or synthesized within the organism or system. Before TerraUSD and Luna imploded in May, its creators relied on an algorithm to mint or burn Luna to keep the value of TerraUSD stable at $1. Take a look
