debacle

USDT market cap up by $2 billion following Tornado Cash debacle

The market capitalization of Tether (USDT) tokens has increased by nearly $2 billion since the U.S. Treasury Department imposed sanctions on cryptocurrency mixer Tornado Cash. The Office of Foreign Asset Control essentially barred Americans from using Tornado Cash on Aug. 8, blacklisting 44 USD Coin (USDC) and Ether (ETH) addresses connected to the service to …

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Robinhood to face class action lawsuit from meme stock debacle: Report

Cryptocurrency and stock trading platform Robinhood will allegedly face allegations of market manipulation as part of a class-action lawsuit brought by investors in “meme stocks” from 9 different companies during a January 2021 rally. According to a Thursday report from Reuters, United States District Court Judge Cecilia Altonaga of the Southern District of Florida ruled …

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GameFi and Metaverse least affected by Terra debacle: Report

Blockchain gaming and the Metaverse have managed to “sidestep” the “Lehman brothers-like” collapse of Terra in May — though decentralized finance (DeFi) and nonfungible tokens (NFTs) haven’t been so lucky, a report says.  In a July 29 report from decentralized application data aggregator DappRadar, the collapse of Terra in May was similar in scale to …

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