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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Axie Infinity (AXS) price reverses course with 50%+ gain ahead of Origin launch

Play-to-earn (P2E) gaming was one of the hottest sectors in the cryptocurrency market in 2021 and based off the recent moves of Yuga Labs and Bored Ape Yacht Club, the gaming industry could continue to be a winner in 2022. Axie Infinity was the first game to really capture widespread attention and highlight the possibilities of what P2E had to offer and is continuing to lead the way in 2022 as the protocol prepares for its next major launch. Data from Cointelegraph Markets Pro and TradingView shows that the price…

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OpenSea reverses limits on minting after community backlash

NFT marketplace OpenSea has backflipped on a controversial decision to limit the number of NFTs and collections creators can mint using its smart contract. The platform previously allowed unlimited collections and items, but changed its policy to only allow five NFT collections with 50 items per collection when using OpenSea’s collection storefront contract. The unexpected announcement from OpenSea’s Twitter Support account, posted on Jan. 27, stated the lower limits came after it had “addressed feedback received about its creator tools.” . A follow-up tweet asked the community to “share how…

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Bitcoin price reverses gains on New Year’s Eve; hodlers continue stacking sats

Bitcoin (BTC) and the broader cryptocurrency market turned lower later in the day on Dec. 31, erasing intraday gains to cap off a highly successful year on a weaker note.  Market Update BTC price fell below $46,000 on Dec. 31 and was last seen hovering below that level, according to data from Cointelegraph Markets Pro and TradingView. The flagship cryptocurrency is down over 5% from its intraday peak and 2.9% on the day to trade at $45,933.  Bitcoin’s price is back on the defensive as the year draws to a…

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Kraken CEO reverses $100K BTC 2021 forecast: Crypto winter now possible

As Bitcoin (BTC) continues to trade sideways around $48,000, Kraken CEO Jesse Powell is not counting out a potential crash on cryptocurrency markets in the short term. A crypto winter is now “possible,” Powell said in a Dec. 14 interview with Bloomberg Technology, noting that Bitcoin and the crypto ecosystem have historically evolved around cycles based “sort of around the Bitcoin halving.” But despite a potentially looming crypto winter, Powell is confident that the market will bounce back from a bear market once investors start buying should BTC drop below…

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Bitcoin reverses ‘bear market’ at $53.5K as Pfizer gains on fresh panic over coronavirus ‘Nu’ variant

Bitcoin (BTC) stemmed some of its losses as Wall Street opened on Nov. 26 after concern over a new COVID-19 variant spark a global market sell-off. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Pfizer gains as coronavirus panic sets in Data from Cointelegraph Markets Pro and TradingView showed BTC/USD ending its downturn at just above $53,500 on Bitstamp. The pair then added almost $1,500 as some sense of equilibrium returned to crypto markets, trading at around $54,400 at the time of writing. Both crypto and traditional assets were rattled on the…

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OnlyFans reverses decision to ban porn after assurances from ‘banking partners’

OnlyFans has made a sharp u-turn on its decision to ban sexually explicit content after it received a  backlash from creators and some new assurances from at least one bank suffering bad PR. The platform became wildly popular by connecting online sex workers to subscribers, but this has not gone down well with a number of major banks. The firm was forced to change its policy on Aug. 19 to prohibit “sexually explicit conduct” following pressure from the Bank of New York Mellon, Metro Bank, and JPMorgan Chase, who refused…

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Judge reverses own ‘mistaken’ dismissal of Overstock lawsuit

A Utah federal judge has reversed his own dismissal of a class-action lawsuit against online retailer Overstock that alleges it manipulated the market by issuing a security token “Digital Dividend” to shareholders last year. On Jan. 6, Judge Kimball reversed his previous decision to dismiss the lawsuit, granting the plaintiffs’ request from October to file an amended consolidated complaint. The class-action was filed by lead plaintiff Mangrove Partners Master Fund in September 2019, alleging that Overstock lied about the purpose of its OSTKO security token — which the plaintiffs claim…

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Novogratz hopes Biden admin reverses Trump’s anti-crypto stance

The United States is in desperate need of open-minded cryptocurrency regulations from the incoming Biden administration, according to Galaxy Digital CEO Mike Novogratz.  Appearing in a Thursday segment of CNBC’s Sqwuak Box, Novogratz said the Bitcoin (BTC) bull market has proven resilient to the recent wave of anti-crypto rhetoric coming from Capitol Hill: “It tells you about how powerful this bull market is […] They are throwing lots at the system, and it’s not actually impacting it.” Nevertheless, for the cryptocurrency industry to truly succeed in the long run, more…

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Dow Reverses as Pelosi Rejects Trump’s $1.6 Trillion Stimulus Offer

The Dow Jones fell 200 points from its daily peak to trade flat. Investors continue to see mounting layoffs and unacceptably high jobless claims in the U.S. Nancy Pelosi sent the Dow into red figures late in the session after she rejected a sizeable aid offer from the Trump administration. The Dow Jones fell on Thursday as corporate layoffs mount and jobless claims remain unacceptably high. Markets struggled for momentum after Nancy Pelosi turned down $1.6 trillion in coronavirus aid from the White House, raising doubts about her commitment to…

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