Labs

The blockchain industry is witnessing a significant shift in dynamics as Sui, a pioneering Layer 1 blockchain platform, experiences a price surge following an enhanced partnership with Tencent Cloud, courtesy of Mysten Labs. This collaboration is set to revolutionize the Sui ecosystem, propelling its value to a new ATH. Amidst this evolving landscape, Polkadot faces a new challenger in the form of InQubeta, an AI-centric blockchain ICO gearing up for a significant market impact. Sui and Tencent Cloud Deepen Ties…

The post SEC WINS – NY Jury Holds Terraform Labs and Founder Do Kwon Liable in Civil Fraud  appeared first on Coinpedia Fintech News A New York jury in Manhattan Federal Court has found the Singapore-based Terraform Labs and its founder Do Kwon, liable for civil fraud charges. The verdict was passed after just two weeks of trial, which held the U.S. Securities and Exchange Commission’s allegations of misleading investors in 2022 as true and made the prosecutors declared as…

Although the US has yet to win the extradition victory against South Korea for Do Kwon, a New York court has already ruled against the fallen former crypto mogul in a legal case launched by the Securities and Exchange Commission. Do Kwon and his crypto brainchild – Terraform Labs – were found guilty of misleading investors in the 2022 crash. The Terra collapse from two years ago was among the loudest in the cryptocurrency industry, which resulted in an investor…

Ethena Labs, the creators of USDe, have incorporated Bitcoin (BTC) as backing into their synthetic dollar-pegged offering. This move aims to scale USDe’s supply from its current $2 billion mark. BTC to Boost Scalability and Liquidity The announcement, made through an April 4 thread on X, highlighted the strategic importance of incorporating BTC as a backing asset. Excited to announce that Ethena has onboarded BTC as a backing asset to USDe This is a crucial unlock which will enable USDe…

The post Terra vs SEC : Terraform Labs Presents Closing Arguments in Civil Fraud Trial Amidst Allegations of Investor Deception appeared first on Coinpedia Fintech News The trial procedures on civil fraud against Terraform Labs and its founder Do Kwon are coming to an end as attorneys are gearing up to deliver their closing arguments.  The trial initiated and proceeded by the U.S. Securities and Exchange Commission focuses on accusations of wire fraud and scamming investors with TerraUSD, a stablecoin…

The post Ethena Lab’s Bitcoin-Backed USDe Sparks Concern : Terra-LUNA Déjà Vu appeared first on Coinpedia Fintech News Ethena Lab has announced that it will back its USDe synthetic dollar with Bitcoin (BTC). Ethena works to provide derivative infrastructure to transform Ethereum into the very first crypto-native yield-bearing synthetic dollar. It doesn’t only rely on the banking system: USDe. This decision has resulted in concern among crypto experts regarding potential market crashes that could await, similar to the Terra-LUNA crisis. Terra-LUNA…

Decentralized Finance (DeFi) protocol Ethena Labs has announced the addition of Bitcoin as one of the backing assets for its synthetic dollar-pegged stablecoin. The USDe is already backed by ETH, ETH-based liquid staking tokens, and Tether (USDT).  According to Ethena Labs, the move will help USDe scale significantly and provide users with a safer product.  Ethena Labs Adds Bitcoin Backing Ethena Lab’s decision to add Bitcoin comes as Bitcoin derivatives markets outpace their ETH-based counterparts. According to data presented by…

Hong Kong, Hong Kong, April 3rd, 2024, Chainwire LBank Labs, a visionary blockchain venture fund with a successful track record in the crypto space, has announced a significant investment in Interop Ventures, an early stage venture fund supporting protocols and primitives embracing the vision of sovereign, interoperable, proof-of-stake blockchains. This strategic investment positions LBank Labs at the forefront of the rapidly evolving Interchain economy, an innovative concept set to redefine the blockchain and Web3 sectors. Interop Ventures, having recently celebrated…

The post Did Binance Labs Dump STEPN? GMT Price Plunges After Token Transfer appeared first on Coinpedia Fintech News The crypto world witnessed a sharp downturn as the price of STEPN (GMT), the backbone of a popular move-to-earn app, took a nosedive. This sudden drop came after Binance Labs, the venture capital arm of crypto giant Binance, moved a whopping 9 million GMT tokens. The community feared a sell-off, leading to a 14% plunge in GMT’s value. But what exactly…