One of the world’s biggest cryptocurrency exchanges, Binance, strengthened its European presence by obtaining registration and regulatory approval in Italy. A Binance company had previously registered to operate in France at the beginning of May. On Friday, the exchange’s official blog reported that Binance Italy has received regulatory approval in the country through registration as a Cryptocurrency Service Provider with Organismo Agenti e Mediatori (OAM), as required by Italian legislation. The registration allows Binance to offer crypto products to its customers in Italy in compliance with local regulations as well as to open offices and expand the local team. In …

The price of Terra (LUNA) has tanked around 70% since the re-launch of the Terra ecosystem via Terra 2.0 on May 28. Under the revival plan of Terraform Labs founder Do Kwon, new LUNA tokens, also referred to as LUNA 2, are being airdropped to investors that previously held Luna Classic (LUNC), TerraUSD Classic (USTC) and Anchor Protocol UST (aUST). The only reason to buy $LUNA 2.0 is to qualify for the next airdrop of $LUNA 3.0 after it goes to zero like $LUNA 1.0 — Luke Martin (@VentureCoinist) May 29, 2022 According to data from CoinGecko, LUNA has dropped …

Multi-strategy blockchain investment fund Old Fashion Research (OFR) has completed its first close. Led by several former executives from Binance, OFR invested in over 50 blockchain projects in its first year. According to an announcement, Old Fashion Research is now coming out of stealth mode, in which it has been operating since its foundation in late 2021. Since that time, OFR put money in more than 50 companies in different markets, such as WOO Network, Genopets, Metaverse Magna, MetaDerby and ZetaChain. The fund was founded by Ling Zhang, the former vice president of mergers and acquisitions, and investments at Binance; …

The fall of Terra shook the entire crypto market. However, the project has no plans to stay down, having secured backing from crypto exchanges to help it rebuild. In an announcement on Thursday, Terra provided details on an upcoming airdrop of the new native token for its new blockchain dubbed Terra 2.0. The distribution of tokens will proceed on Friday, and holders of Terra Luna Classic (LUNC), TerraUSD Classic (USTC) and Anchor Protocol UST (aUST) who are eligible will receive new tokens Crypto exchanges Binance and FTX noted that they are working closely with the Terra team regarding the upcoming …

Cryptocurrency exchange Binance has signed a memorandum of understanding, or MOU, with the government of Kazakhstan to bolster “virtual asset market development” in the central Asian country. The signing of the MOU, which is between Binance and Kazakhstan’s Ministry of Digital Development, Innovations and Aerospace Industry, took place on Wednesday during Changpang Zhao’s official visit to the country. The Binance CEO met with Kazakh President Kassym-Jomart Tokayev, First Deputy Chief of Staff Timur Suleimenov and Bagdat Musin, the minister overseeing the country’s digital innovation strategy. Under the framework, Binance will assist Kazakhstan in developing legislative guidelines and regulatory policies for …

The crypto market has been in decline over the past six months with its valuation dropping from over $3 trillion in November 2021 to $1.23 trillion in May 2022. Fears over persistently higher inflation, the Federal Reserve's hawkish response to it, and the ongoing conflict between Ukraine and Russia prompted investors to limit their exposure to riskier assets. Also, their increasing appetite for the safe-havens, such as the U.S. dollar, weighed down demand for some of the top cryptocurrencies and U.S. equities. As a result, some digital assets, such as Dogecoin (DOGE) and Cardano (ADA), fell by more than 80% …

The past week in the decentralized finance (DeFi) ecosystem was dominated by Terra's collapse and its aftermath on various ecosystems it was connected. Now BNB chain has come to the rescue of several stranded projects on Terra by offering financial and technical assistance. After its spiral collapse, Terra co-founder Do Kown proposed a revival plan and a hard fork to revive the blockchain. Chainalysis introduced new tools to monitor and track stolen funds across multiple blockchains. Swiss asset manager Julias Baer is eyeing crypto and DeFi potential. Top DeFi tokens saw another week of bleeding, with the majority of these …

Binance will welcome migration and offer support to projects from the Terra (LUNA) ecosystem following this month’s unraveling of the decentralized finance (DeFi) platform and its algorithmic stablecoin. BNB Chain (BNB) has committed to providing investment and support to projects that are considering migrating from the Terra ecosystem in the wake of the biggest black swan event to hit the cryptocurrency space in recent years. Stader Labs will become one of the first Terra ecosystem projects to begin integrating with the BNB Chain. The firm builds liquid staking solutions across four blockchains, namely Solana (SOL), Near (NEAR), Fantom (FTM) and …

Seven major crypto companies — Binance.US, Circle, Solana Foundation, The Aave Companies, Hedera, TRM Labs and Civic — joined hands to launch a community-driven scam reporting tool. Named Chainabuse, the tool aims to enable crypto users to issue warnings and discuss ongoing fraudulent activity such as scams and hacks in real-time. Launched on Wednesday, the Chainabuse platform aims to counter the ongoing scams plaguing the crypto ecosystem. On May 4, Cointelegraph warned the community about the rise in Ape-themed airdrop phishing scams. Chainabuse serves as a one-stop-shop platform for crypto users, victims of financial crimes and crypto businesses to actively …

Changpeng “CZ” Zhao, the CEO of crypto exchange Binance, recently questioned the idea of hard forking the Terra blockchain as a means to revive the once-thriving Terra (LUNA) and TerraUSD (UST) ecosystems. Following up on the same, CZ revealed his perspective on the appropriate course of action for falling projects across the crypto community. “This won’t work,” said CZ while dismissing the validators’ idea of a hard forking to TERRA2, which would involve providing a new version of LUNA to all holders based on a snapshot of the holdings before the market collapsed. CZ suggested: “Reducing supply should be done …

Global cryptocurrency exchange Binance has suspended trading pairs with Terra (LUNA) ecosystem's cryptocurrencies, LUNA and TerraUSD (UST), on its platform following the major crash of the algorithmic stablecoin. Binance confirmed the move on May 13, with spot trading for LUNA/BUSD and UST/BUSD trading pairs being suspended. It's not clear when the withdrawals for LUNA and UST will continue, as the crypto exchange simply stated that it will wait for the issues with the Terra network to be solved. It is the latest move by the world’s largest cryptocurrency exchange by trading volume following one of the most significant black swan …

Major crypto exchange Binance announced it will be delisting its Tether (USDT)-margined Terra (LUNA) futures contracts following a more than 99% drop in price. In a Thursday blog post, Binance said it would be taking “precautionary measures” around its LUNA/USDT perpetual contracts, intending to delist the pair if the price goes under 0.005 USDT. The announcement followed the exchange changing the leverage and margin tiers for the LUNA-tied contracts on Wednesday, with the maximum leverage set at eight times for positions under 50,000. As mentioned previously, Binance Futures will conduct an automatic settlement on the $LUNA USDT-Margined Contract and then …