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Day: May 28, 2022

Buterin: How to create algo stablecoins that don’t turn into Ponzis or collapse

“What we need is not stablecoin boosterism or stablecoin doomerism, but rather a return to principles-based thinking,” Vitalik Buterin emphasized. Ethereum co-founder Vitalik Buterin has shared two thought experiments on how to evaluate whether an algorithmic (algo) stablecoin is sustainable. Buterin’s comments were sparked by the multi-billion dollar losses caused by the collapse of the Terra ecosystem and its algo stablecoin …

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Dogecoin Jumps on Elon Musk SpaceX Tweet

The Tesla CEO said merchandise for his space exploration startup could soon be bought using the meme cryptocurrency. Tesla (TSLA) CEO Elon Musk is once again helping his pet cryptocurrency, dogecoin (DOGE), gain some momentum. The billionaire tweeted Friday morning ET that merchandise for SpaceX, his space exploration startup, will soon be able to be bought with …

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Hong Kong’s Hang Seng rises nearly 3%; Alibaba shares soar after earnings report

KEY POINTS Asia-Pacific stocks largely rose on Friday, with shares in Hong Kong leading gains regionally. Chinese tech giant Alibaba reported Thursday fiscal fourth-quarter earnings that were above analyst expectations. Australia’s retail sales rose 0.9% in April to “another record level,” according to a Friday media release from the country’s Bureau of Statistics. SINGAPORE — …

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Thailand Exempts Crypto Transfers from VAT Payments until 2024

The Thai government has decided to exempt crypto transfers from value-added tax (VAT) payments until December 31, 2023, following a royal decree, the Bangkok Post reported. The new ruling states that crypto and digital asset transfers on regulated exchanges will not require 7% VAT payments until the start of 2024. According to The Block, this …

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Russia Considers Using Cryptocurrencies for International Settlements

Authorities in Russia are mulling over the possible use of digital currencies for international payments, a high-ranking official from the finance ministry has indicated. If recognized as property, he noted, cryptocurrency can be utilized in barter deals with foreign partners. Finance Ministry Suggests Russia May Employ Crypto in International Trade The possibility of using cryptocurrencies …

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