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Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

The death spiral of the Terra (LUNA) and TerraUSD (UST) ecosystem served as a catalyst to the 2022 bear market — causing losses in the millions, damaging investor sentiment and intensifying the regulatory spotlight over cryptocurrencies. However, the recent depegging of Circle’s USD Coin (USDC) led Binance CEO Changpeng ‘CZ’ Zhao to believe that traditional banks are a risk to stablecoins that are usually pegged 1:1 with fiat currencies, like the US dollar.

The Frax community recently approved a proposal to make its FEI stablecoin fully backed by USD equivalents, rather than maintaining a partially backed and semi algorithmic stablecoin. With Frax’s decision, the days of experimentation with algorithmic stablecoins could finally be behind us.

Stablecoins are a type of cryptocurrency offering investors price stability. The most popular stablecoins are those backed by the United States dollar — the world’s leading reserve currency. Others are less popular and not widely used, so many may not have heard of alternatives if they haven’t searched for them.

Indonesia aims to launch its much-anticipated state-backed crypto exchange by mid-2023, according to the country's Commodity Futures Trading Regulatory Agency (Bappebti), which currently oversees digital assets.

The chief executive officer of Apollo Global Management-backed German lender Oldenburgische Landesbank said on 22 February that record profits in 2022 meant the company was prepared for a stock-exchange listing.

As the use of crypto-backed debit cards becomes more widespread, there is an ongoing consolidation of Web2 and Web3 solutions.

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

The central Bank of England and the UK Government will today, reportedly, formally start a consultation for the 'digital pound'.

The holding company for the crypto-friendly bank, BankProv, has revealed it’s no longer providing loans secured by cryptocurrency mining rigs after writing off $47.9 million in loans primarily secured by them throughout 2022.

[content][quote]Market Story[/quote][title]Dogecoin outperforms top 10 coins, experiences significant 8.1% increase[/title][body]On Tuesday, the cryptocurrency market experienced little change with the exception of Dogecoin which saw a notable 8.1% increase.> TradingView reported that Bitcoin dipped 0.3% to $23,117 while Ether also saw a 0.3% decrease, settling at around $1,583. Binance Coin saw a small 1.1% rise, while Cardano's ADA declined by 0.7%.> Meanwhile, Polygon's MATIC experienced a 1.7% increase following a decrease the previous day.> Both Dogecoin and Shiba Inu, two memecoins with a dog theme, saw growth with Dogecoin rising by 8.1% and Shiba Inu by 0.5%.> In the stock market, Silvergate shares climbed 4.5% to around $13 by 10:00 AM, as reported by Nasdaq data.> Other crypto stocks, including Block led by Jack Dorsey, saw a 2.2% rise to trade at around $82, while MicroStrategy rose 2.5%. Coinbase also saw growth with a 1% increase.[/body][/content]

Blockchain startup accelerator Cronos Labs has announced the opening of applications for its second cohort of the $100 million-backed Cronos Accelerator Program. 

Since the fall of the Terra (LUNA) algorithmic-stablecoin in mid-2022, many users in the crypto space have developed a weariness towards that particular asset class. The market for algorithmic stablecoins has dropped 10 times what it was at its all-time high prior to the Terra incident.

Decentralised Finance (DeFi) startup Flint, which is backed by investors like Sequoia Capital and Coinbase, has decided to discontinue its flagship yield offering service amid regulatory uncertainty, YourStory reported on January 27 citing an internal mail.

An investing platform backed by the likes of oil giant Saudi Aramco and French soccer player Paul Pogba is launching a novel proposition in the U.K.: a physical branch and bank accounts backed by gold.

Bankrupt crypto lending firm BlockFi has plans to sell off $160 million in loans backed by around 68,000 Bitcoin mining machines as part of bankruptcy proceedings, according to reports.

The owners of Asda are considering merging the UK supermarket chain with EG Group, their UK petrol forecourts business, in a mega deal that would create a retail giant worth between £11bn-£13bn.

In the test phase, the user enters their phone number, verifies their identity through video identification, and loads their wallet with real euros via Spanish instant payments service Bizum. Automatically, the same amount of EURM is created as the number of real euros deposited by the user and they can send EURM to the other registered users.

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