Terra ecosystem collapses, Sam Bankman-Fried buys Robinhood stock, and crypto trader receives jail sentence for a ponzi scheme: Hodler’s Digest, May 8-14

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Breaking: Terra blockchain officially halted following LUNA price collapse This week, news about the Terra ecosystem dominated the headlines after algorithmic stablecoin TerraUSD (UST) lost its peg to the U.S. dollar — and continued to crash.  At its lowest point during the week, UST fell…

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Robinhood shares spike 30% after Sam Bankman-Fried buys $650M stake

Sam Bankman-Fried, the billionaire founder and CEO of cryptocurrency exchange FTX has acquired a substantial 7.6% stake in the popular online brokerage, Robinhood.  The news was well received by the market, with Robinhood’s (HOOD) stock price initially soaring over 30% in after hours trading. At the time of writing the price has settled to a 24% overall gain. According to a securities filing made with the Securities and Exchange Commission on Thursday, Bankman-Fried purchased a total of $648 million in Robinhood shares at an average price of $11.52. The purchases…

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Meta to launch metaverse hardware store, Elon Musk buys Twitter for $44B, and ApeCoin pumps to new highs: Hodler’s Digest, April 24-30

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Elon Musk buys Twitter for $44B — crypto industry reacts Eccentric billionaire Elon Musk bought Twitter for around $44 billion this week, or $54.20 per share in cash. After the deal was accepted, Musk said he hoped that “even my worst critics remain on Twitter,…

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Elon Musk buys Twitter for $44B — crypto industry reacts

In the hours and days before Tesla CEO Elon Musk’s purchase of social media giant Twitter, discussions on free speech were common among many online users both in and out of the crypto industry. Twitter announced on Monday that it will become a privately held company following its board of directors accepting a bid from Musk to purchase the firm’s stock for $54.20 per share in cash — roughly $44 billion. Though the transaction is expected to close in 2022, it is still subject to the approval of Twitter stockholders…

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Animoca Brands buys major stake in Aussie digital services agency

NFT investment giant Animoca Brands has acquired a major stake in Australian digital marketing agency Be Media. Be Media has locations in Perth, Melbourne, and Sydney and has provided Web2 firms with advertising and digital strategy since 2013. While the company isn’t geared up towards the crypto sector, the investment seems to be a part of Animoca’s immediate aim to “shepherd companies into Web3.” According to an announcement shared with Cointelegraph, Be Media will be tasked with seeking out partnerships with top Australian Brands relating to Animoca’s various blockchain-focused initiatives…

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We’ll ‘vigorously pursue’ more BTC buys

MicroStrategy CEO Michael Saylor has proclaimed to shareholders of his company that his firm intends to “vigorously pursue” its reserve assets strategy to buy and hold more Bitcoin. Saylor’s publicly traded company is the largest single-wallet holder of Bitcoin (BTC) in the world with 129,218 BTC according to wallet tracker Bitcoin Treasuries. Those coins are currently valued at about $5.1 billion. MicroStrategy bought 4,197 more coins on April 5. By comparison, Tesla, MicroStrategy’s runner-up in the hodling race, owns 43,200 BTC valued at about $1.7 billion. In MicroStrategy’s 2022 Proxy…

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Bitcoin price levels to watch as Terra buys 2.5K BTC to nearly match Tesla

Bitcoin (BTC) is keeping traders on the edge of their seat this week as support levels come close to breaking. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Traders line up targets below $40,000 Data from Cointelegraph Markets Pro and TradingView shows that lines in the sand below $40,000 barely remain intact after multiple retests. The $40,000 mark has been working overtime in recent days as Bitcoin’s macro-fueled downtrend continues to play out. Falling in line with tech stocks, BTC/USD has erased almost all of its gains from the second half…

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Bitcoin battles for weekly close above $42K as LFG buys 4,130 more BTC

Bitcoin (BTC) prepared for its lowest weekly close of the month so far on April 10 after a week of disappointing losses. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader: BTC “giving people a second chance” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $42,700 Sunday with a matter of hours to go until the conclusion of the weekly candle. The pair had fallen into the end of Wall Street trading Friday, while the weekend provided some nervous calm as $42,000 support remained intact. For popular trader and analyst…

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Terra buys $200M in AVAX for reserves as rival stablecoins emerge

Terraform Labs (TFL) and the Luna Foundation Guard (LFG) have announced they have purchased a combined $200 million worth of AVAX tokens from the Avalanche Foundation.  TFL, the company responsible for the development of the Terra blockchain, swapped $100 million worth of Terra’s native token, LUNA for AVAX tokens, in order to “strategically align ecosystem incentives”, according to Terra’s twitter. LFG, a non-profit organization mandated to build reserves for Terra’s algorithmic stablecoin UST, used its own holdings of UST to purchase an additional $100 million worth of AVAX from the…

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Webtoon platform Kakao Piccoma buys 50% of Japan’s Sakura Exchange

Kakao Piccoma, a Japanese digital comics’ subscription service and subsidiary of the Korean internet company Kakao, has purchased a 50% controlling stake in the Japanese cryptocurrency exchange, Sakura Exchange Bitcoin (SEBC). That makes Kakao its largest shareholder and the deal is also expected to help Kakao offer cryptocurrency services on its Piccoma webtoon platform, and expand aggresively into Web3, according to local media reports. Piccoma is the largest webtoon platform in Japan, and in 2021 its app marked $1 billion in consumer spend after six years in the Japanese market.…

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