Crypto.com unblocks users, reverses glitched LUNA trades that made 30-40x

Crypto.com was one of the few crypto exchanges to keep LUNA trades open as Terra’s death spiral saw an unrecoverable price crash of LUNA and stablecoin UST. However, a technical glitch on Crypto.com’s mobile application allowed users to get away with a 30-40x profit on LUNA trades momentarily. On Friday, Crypto.com abruptly barred users from trading after an internal tool detected the system quoting incorrect prices for LUNA due to some error. Just when Crypto Twitter started raising concerns about trade reversals on the exchange, Kris Marszalek, CEO of Crypto.com,…

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Failed exit? Traders complain Crypto.com reversed profitable LUNA transactions

Cryptocurrency exchange Crypto.com has halted the trading of Terra (LUNA) tokens after it determined that user transactions were quoted at an “incorrect price,” prompting severe backlash from the community. In a Friday news release, Crypto.com said that LUNA trades have been halted due to a pricing error between 12:40 and 13:39 UTC on May 12. “[U]sers who traded LUNA were quoted an incorrect price,” the exchange said. “Our systems quickly detected the error and trading was halted. Trading remains halted until further notice.” Market participants took this to mean that…

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Crypto.com (CRO) slumps 30% as staking rewards are slashed

Crypto exchange Crypto.com announced severe reductions to CRO staking rewards for most tiers of its VISA prepaid card which has forced the token price to fall around 30% in less than a week. Its May 1 blog post explains that card rewards will be reduced by an average of 69.5%, and 100% on its lowest tier Midnight Blue card “to ensure long-term sustainability.” On its highest tier Obsidian card which requires at least $400,000 in CRO to be staked, rewards will drop from 8% to 5%. Changes to the rewards…

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Crypto.com will air campaign in support of Ukraine during Academy Awards

Cryptocurrency exchange Crypto.com plans to use its ad time during the 94th Academy Awards on Sunday to air a TV spot regarding the humanitarian crisis in Ukraine. In a Wednesday announcement, Crypto.com CEO Kris Marszalek said the exchange had partnered with the International Committee of the Red Cross, or ICRC, to launch a campaign aimed at helping those suffering under war-torn conditions in Ukraine. The CEO did not specify what the campaign would entail, but the platform already allows donations in crypto, fiat and nonfungible token purchases to the humanitarian…

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Crypto.com becomes official sponsor of 2022 FIFA World Cup in Qatar

FIFA, an international governing body for many major soccer tournaments, has announced that cryptocurrency exchange Crypto.com will be an official sponsor of its next World Cup in Qatar. In a Wednesday announcement, the association said Crypto.com’s branding will appear both inside and outside of stadiums for the FIFA World Cup Qatar 2022 scheduled to begin in November. The crypto exchange will provide opportunities for its users to attend matches and win official merchandise as part of the sponsorship. According to FIFA chief commercial officer Kay Madati, the deal will help…

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Crypto.com rolls out its exchange platform in the United States

Following its immense marketing efforts, Crypto.com finally begins the initial rollout of its services to users in the United States.  In an announcement, Crypto.com mentioned that its exchange platform is already available to users who are waitlisted and will be available to more users soon.  Currently, the trading platform can only be used by selected institutional investors. However, in the next few months, the exchange will be offering its services to more investors who want to trade using Crypto.com. The exchange is also inviting institutional investors based in the United…

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Russia and Belarus face crypto sanctions, Crypto.com hounds users for loan payments and Biden signs executive order on crypto: Hodler’s Digest, Mar. 6-12

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 Biden to sign executive order on crypto, authorize all-government effort to consolidate regulation While many in the crypto community previously feared the worst regarding regulation, President Joe Biden on Wednesday signed an executive order on digital assets that had a relatively favorable approach to the…

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Crypto.com airdrops LeBron James NFT collection to eagle-eyed Super Bowl ad viewers

The Crypto.com exchange announced the airdrop of its “The Moment of Truth” nonfungible token (NFT) collection featuring Los Angeles Lakers forward LeBron James to 5,550 randomly selected viewers of its Super Bowl commercial. Those who found and scanned a hidden QR code that appeared 10 seconds into a conversation between present-day James and his apprehensive teenage self could enter to win a limited edition NFT. The collection consists of instant snapshots of behind-the-scenes moments from the making of the Big Game spot. Introducing “The Moment of Truth” NFT Collection featuring @KingJames Airdropping…

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Crypto.com gives users in excluded countries one week to repay loans

Crypto.com is reportedly giving users from countries restricted from its loan program until March 15 to repay their crypto loans.  The firm updated the list of restricted countries to include the United States, United Kingdom and 38 others. Users from European nations such as Germany, Switzerland and the U.K. have all shared emails from the company regarding the loan closure date. It’s worth noting that some of these users who do not have crypto loans on the platform have received the emails as well. According to the new policy, if…

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South Park destroys Matt Damon’s Crypto.com ad in season premiere

More than three months after its release, the ad from crypto exchange Crypto.com featuring Hollywood star Matt Damon was the subject of ridicule in the latest episode of the animated series South Park. In the first episode of its 25th season titled “Pajama Day”, the creators of South Park took on people in the United States refusing to wear a mask and once again associated crypto investments with scams. Characters in the show attacked Damon’s appearance in an TV spot titled “fortune favors the brave”, showing the actor speaking about…

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