Luna’s crash will live on in shame May 5-11, 2022

The Terra crash forced crypto investors to ask themselves a question they never thought possible: will TerraUSD (UST) or Terra (LUNA) hit $1.00 first? The magnitude of this question is a sobering reminder of how quickly things can change in the cryptocurrency world. While Terraform Labs co-founder Do Kwon remains defiant, many in the industry are beginning to distance themselves from the protocol they thought would offer real-world utility for stablecoins and Bitcoin (BTC).

It could be months or even years before the contagion from Terra’s apparent collapse is fully quantified, but it seems that voices calling for a crypto winter are growing louder. Luckily, blockchain projects are supported with tens of billions of dollars. They will keep building. Can you wait a little longer to write your thesis on digital asset investing?

Celsius Network executives denied rumors of significant losses amid market volatility

The fallout from the UST/LUNA fiasco casts a negative light on Celsius Network, a cryptocurrency-focused wealth management platform that has reportedly been “killed” by the events of the past 72 hours. However, nothing could be further from the truth, Celsius’ management team confirmed on Wednesday. Rod Bolger, the company’s CFO, told Cointelegraph that “we are not materially exposed to market volatility,” including the LUNA-triggered cryptocurrency crash. CEO Alex Mashinsky also tried to set the record straight.

FCA-regulated Fasanara Capital raises $350 venture capital fund for crypto and fintech projects

Luna’s crash will live on in shame May 5-11, 2022
Luna’s crash will live on in shame May 5-11, 2022

If you had managed to read anything other than Terra News this week, you would have known that a prominent British investment firm has raised $350 million for a new fintech and cryptocurrency venture capital fund. Fasanara Capital, which has $3.5 billion in assets under management, has identified Web3 and cryptocurrencies as a huge investment opportunity, so it plans to make larger capital commitments to startups than traditional venture capital firms. Venture capital firms don’t care about cryptocurrency market cycles. They just want to accumulate as much capital in the industry as possible.

Latin America’s largest digital bank will allocate 1% to BTC and offer crypto asset investment services

A digital bank in Brazil with exposure to over 50 million customers invests 1% of its net worth in BTC, making it easy to buy, sell and store digital assets. Nubank, the largest neobank in Latin America, announced this week that it has partnered with Paxos to pursue its cryptocurrency ambitions. Cointelegraph has been reporting for years that Latin America is an emerging cryptocurrency hub. If you’re nervous about the market, read what Nubank’s executive team has to say about the potential of cryptocurrencies in the region.

Michael Saylor reassures investors after market declines hit MSTR and BTC

As Bitcoin fell below $30,000 — and MicroStrategy’s average cost basis in BTC — CEO Michael Saylor reassured investors that his crypto-heavy business intelligence firm was in no danger of being sidelined. Saylor said it would take Bitcoin price to break below $3,600 before the company would need to post other collateral. Crypto Twitter has already accused Saylor of secretly selling part of his BTC stash. That’s not true, and neither is the rumor that MicroStrategy is going bankrupt because of its bitcoin holdings.

Can you glean more analysis from LUNA? watch this video

The market reporting panel met after hours this week as I sat down with fellow analysts Jordan Finneseth, Marcel Pechman and Benton Yuan to discuss Terra (LUNA). We talked about what exactly went wrong with the Terra ecosystem, how UST lost its bond, and what that could mean for your wallet over the next 12 months. You can watch the full replay below.

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