The biggest crypto news stories of the week
News stories come in thick and fast in the crypto world. Here’s a handy roundup of the latest crypto, blockchain and DeFi headlines:
Terra founder USD delisted from crypto exchanges
The algorithm-powered TerraUSD stablecoin has been delisted from most major exchanges, effectively terminating the project. TerraUSD’s failure to maintain parity with the dollar may signal challenges for other stablecoins designed to track fiat currencies.
Postmates founder raises $23 million for new Crpto startup TipTop
Bastian Lehmann, the founder of Postmates, has revealed that his new crypto startup, TipTop, now has more than $23 million in Series A funding and has attracted famed entrepreneur, Marc Andreessen, to its board.
Interestingly, the startup remains tight-lipped about what it will do in the crypto space. However, it previously revealed that it would be working on “consumer finance solutions for a changing web”, potentially building protocols and infrastructure that will make it easier for people to make crypto-based payments.
Russia unable to escape crypto sanctions
With Western sanctions taking their toll on the Russian economy following the illegal invasion of Ukraine, the country’s oligarchs and senior leadership are seeking to use crypto as an alternative source of finance.
However, according to a Barron’s report dated May 13, that hasn’t happened. Despite its vast size, the crypto market still doesn’t have the liquidity and cash flow required to keep a country as vast as Russia afloat. “There’s no way you have enough liquidity to turn a G-20 economy to crypto overnight,” says Michael Mosier, senior advisor at Oliver Wyman.
To make matters harder for Russian citizens, major platforms have been freezing their accounts since the Ukraine invasion began. Coinbase, for instance, reported back in March that it had suspended over 25,000 Russian-linked accounts.
Greenhouse gas emissions may soon be tracked by Blockchain
In a join document released on Monday, the U.S.-EU Trade and Technology Council’s Climate and Clean Tech working group have announced plans to collaborate researching and developing technology to track carbon emissions.
As part of this program, blockchain technology will be explored as measuring and utilization tool for lifecycle greenhouse gas (GHG) assessments. Along with blockchain technolgoy, machine learning, artificial intelligence, and “Internet of Things” (IOT) technologies will also be considered as part of the next generation of emission tracking.
The group is aiming to begin deploying climate change combating technologies, but further details are still unknown.
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