Near Foundation sets up $40M fund to bail out USN investors in case of collapse
The program was launched after Decentral Bank, the issuer of NEAR-native stablecoin USN, raised concerns about the stablecoin depegging due to algorithmic failure. Near Protocol’s in-house stablecoin, USN, recently became undercollateralized, forcing Near Foundation to recommend winding down USN to prevent a situation similar to the Terra (LUNA) and UST collapse. Supporting this move, the Near Foundation opened up a $40 million fund to protect investors and help them cash out of USN with equal amounts of wrapped Tether (USDT.e).On Oct. 24, Near Foundation revealed setting up a $40 million....
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The Bail Project, Chicago Community Bond Fund and Nashville Community Bail Fund take cryptocurrency donations not just in BTC, but also ETH and even BAT.
Source: YouTube user Ross Ulbricht. An update to a story recently posted on the topic of alleged Silk Road founder Ross Ulbricht. After a bail hearing on the 21st of November, the court decided to not grant Ulbricht bail. Ulbricht's lawyer, Joshua Dratel set before the court the proposition to grant $1 million bail to Ulbricht (an amount pledged by Ulbricht's family and friends). The court decided this wasn't the way to go, particularly after hearing the Manhattan federal prosecutor's case that Ulbricht would try to flee the United States before it was time for his trial. Ulbricht's family....
The managing director of the International Monetary Fund (IMF) reportedly said that investors should not completely pull out of crypto after the collapse of cryptocurrency terra (LUNA) and stablecoin terrausd (UST). IMF Chief Has a Message for Crypto Investors After the Collapse of LUNA, UST Kristalina Georgieva, the managing director of the International Monetary Fund (IMF), discussed cryptocurrency at the World Economic Forum’s annual meeting in Davos Monday. She urged people not to completely shun crypto after the recent collapse of algorithmic stablecoin terrausd (UST) and....
The notorious Mark Karpeles, CEO of Mt Gox, was released on bail yesterday after paying nearly $100,000 prior to being released, according to Japanese media. In 2014, the now-defunct bitcoin exchange, Mt Gox, collapsed after it was reported that it had lost hundreds of millions of dollars in customers bitcoins. Karpeles can’t leave Japan. According to Japanese news outlet, News24, Karpeles paid around $100,000 with the condition that he wasn’t to leave Japan once on bail. Since the collapse of Mt Gox, Karpeles was reportedly arrested twice last year in connection with the investigation....
Mt Gox CEO Mark Karpeles has been released on bail 10 months after being charged with embezzlement, according to a Japanese media report. Karpeles was charged in September amidst an investigation into the collapse of Mt Gox, the now-defunct bitcoin exchange that, at its height was the most voluminous bitcoin exchange in the world. Mt Gox collapsed in early 2014 after it was revealed that the exchange had lost hundreds of millions of dollars in customer bitcoin. According to local Japanese media outlet news24, Karpeles paid ¥10m (roughly $95k) prior to being released on bail. Karpeles is....