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Vechain Foundation Wants Terra (LUNA) Developers To Migrate To Vechain, Offers $30K To Help

Mark Brennan
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Vechain Foundation Wants Terra (LUNA) Developers To Migrate To Vechain, Offers $30K To Help

 

VeChain Woos Terra (LUNA) Developers With a $30k Grant Program.



While the Terra team struggles to solve the Luna ecosystem’s issues, other blockchain networks are now stepping in to capitalize on the situation. One of these is VeChain, which has been trying to attract Terra developers to join its network.

In a tweet, the VeChain Foundation went on a charm offensive to warm up to the potential developers who may no longer be happy to stay with Terra.

VeChain is now offering up to $30k in help for developers to migrate their Layer1 chains to VeChain.

VeChain prides itself as a strong Layer 1 (L1) smart contract platform for enterprises. It also claims to have a low-carbon emission and has a scalable blockchain network.

 

The VeChain Developers’ Grant

While going on in its attempt to woo developers, VeChain shared a link to its grant application page. Apparently, the grant covers a number of development projects including tools and infrastructure, application development, and blockchain-related research.

There’s an allowance of up to $30k for each stand-alone project, with a possible 50% bonus for Economic X Node. Developers can use the blockchain to develop and field social media, NFT, DAO, identity management, and DeFi platforms.

While VeChain’s efforts and grants to attract developers from Terra Luna may be tempting, it’s still not yet clear if anyone has migrated to the blockchain.

Besides, this may not be attractive to the Devs at the moment as the Terra team plans to create a LUNA fork and airdrop to its users and stakers – in which case the developers on the network stand to gain.

Some Fans Aren’t Happy

A quick look at the Twitter reactions following VeChain’s wooing attempt shows that fans are not happy with this move. Some fans wonder whether the blockchain network hasn’t had a clear development plan that it has to offer money to developers to make them join its network even after years of existence in the industry. VeChain hasn’t responded to these queries.

 

Terra Founder Vows To Build Back LUNA, Says LUNA is More Than UST, Tells He Won’t Leave No Matter How Hard it Gets

Albert Brown
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Terra Founder Vows To Build Back LUNA, Says LUNA is More Than UST, Tells He Won’t Leave No Matter How Hard it Gets

Terra CEO Reiterates His Intention to Make Investors Whole Again, Says He Won’t Abandon Them.


“Terra is more than $UST. The Terra community is my family. I will always be here, no matter how hard it gets. Let’s build it back up again – together.”

 

The Terra CEO is still not prepared to let go as he suggests a new revival plan to make investors whole again.

Despite the massive plunge in Terra’s native cryptocurrencies TerraUSD (UST) and Terra (LUNA), Do Kwon, the CEO and founder of TerraForm Labs, has reiterated his dedication to making investors in these digital currencies whole again.

Kwon noted how inspiring it has been for him to see how committed the Terra community has been in proffering solutions to revive the ecosystem tokens from the dust, noting that the team has made a decision on how best to go back to its glory days.

Terra’s Revival Strategy

In a Twitter thread, Kwon proposed that the Terra chain be forked, which would see the ecosystem have two chains – Terra Classic (LUNAC) and Terra (LUNA). The Terra Classic chain is the existing and current network, while the Terra will be the new chain.

While both chains will coexist, Kwon noted that the old tokens will be renamed LUNAC while the new ones will be called LUNA.

The launch of the new chain will require Terra developers to airdrop new LUNA tokens to holders of the old LUNA (LUNAC) and UST, as well as developers once the plan is implemented, Kwon said.

Furthermore, Kwon noted that the plan will also require the team to remove the TerraForm Labs wallet from the airdrop.

“We believe this token distribution, in addition to best efforts by LFG to make $UST holders whole, best solves for the varying interests and time preferences for each stakeholder group, and most importantly, creates the most viable path to revive the Terra ecosystem,” Kwon added.

According to Kwon, the upgraded Terra ecosystem will be focused on developers, and as such special funds in LUNA tokens will be allocated to them to get things started.

Notably, a governance proposal will be made by the TerraForm Labs today and once it passes, the fork with validators will be coordinated by May 27, 2022.

This comes after Terra’s stable coin lost its peg to the dollar, thus causing its price including LUNA to crash significantly.

LUNA which traded above $125 last month is down to $0.00017818, while UST is down from $1 to $0.099.

While the team noted that it did not sell LUNA and UST during the crisis, it recently disclosed that it made use of part of its BTC holdings to save its ecosystem tokens from crashing.

LFG Sinks 80K BTC in Desperate Attempt at Reviving UST

The Luna Foundation Guard (LFG) claims it sunk 80 thousand Bitcoins (BTC) in desperate efforts to save its TerraUSD (UST). Consequently, LFG’s BTC reserves have whittled down to 313 coins.

The foundation provided an explanation following an uproar from its customers on how it handled the debacle. In a series of tweets, LFG showed how it allocated funds from its reserve to shore up the sinking UST.

Accounting for 80K BTC

LFG began by revealing its assets in its reserve as of 7th May. It disclosed that it held 80,394 BTC, 39 914 BNB, and about 26.3M USDT. Additionally, it had nearly 23.6M USDC and 1.97M AVAX. Some 697K UST and roughly 1.7M LUNA were top-up in that reserve.

The foundation says it started converting its reserve assets to UST when crypto started dipping below a dollar. It says it traded some 50K BTC with a counterparty on May 8th. Again, they sold some additional 30K BTC in the last gasp effort to secure the peg.

How Did LFG Get Here?

Last week the $40B Terra Ecosystem crashed following UST dropping from a dollar to below 20 cents. Further, its LUNA token that’s designed to absorb shocks nosedive from $80 to under two cents.

According to Larry Cemik, VP of research at the Block,  LFG’s reserves have plummeted from $3.1B to about $87M. He tweeted that Terra spent about $3B trying to anchor the stablecoin to no avail.

What’s Next for UST Holders?

LFG says it has some reserves, including the 313BTC and several other altcoins totaling $80 million. It adds that it’ll return all the assets to the wallets tagged in dashboard.lfg.org shortly. Additionally, it’s unbinding the staked LUNA and will reimburse it within twenty days.

It also affirms its commitment to compensating UST users for their losses. For that, it’ll use its remaining assets and will start with those with smallholdings.

The foundation refuted allegations that it had used its BTC reserves to bail out crypto whales. In a Twitter response to that suggestion, LFG insists that it didn’t strike a deal with its insiders to quit. Instead, it holds that it used the funds to purposely help secure UST’s peg.

Terra Founder Proposes An Airdrop For Affected LUNA and UST Holders, Binance CEO Says ‘This Won’t Work’

Mark Brennan
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Terra Founder Proposes An Airdrop For Affected LUNA and UST Holders, Binance CEO Says ‘This Won’t Work’

 

Terra Founder Wants An Airdrop For Affected LUNA and UST Holders, But the community doesn’t think it’s a good idea.



The ghosts of failure are still battering Terra Luna, but it seems that the project team has finally thought of a way to pull the coin out of the trenches.

According to a recent Twitter update by Do Kwon, there’s a plan to fork LUNA and airdrop it to the stakeholders.

 

Technically, this would create a whole new cryptocurrency and still leave the old one in place. Do Kwon proposes that the new coin be named Terra without the algorithmic stablecoins, while the old network/chain will be called Terra Classic.

As such, there will be the new LUNA and the old LUNA Classic (LUNC). The two chains will run in co-existence. Once the fork is done, the new LUNA will be airdropped to old LUNA users as well as UST holders. Terra’s wallet (Terraform wallet) will also be deactivated to make the Terra chain fully owned by the community.

“The Terra chain as it currently exists should be forked into a new chain without algorithmic stablecoins called “Terra” (token Luna – $LUNA), and the old chain is called “Terra Classic” (token Luna Classic – $LUNC). Both chains will coexist.”

313 BTC And $383 Million Worth Of Crypto

According to an update by the Luna Foundation Guard, the foundation held over 80,000 BTC at the start of May. It also held a collection of other cryptos including BNB, UST, AVAX, LUNA, USDC, and USDT. However, as of now, there are only around 313 BTC left.

During the crypto crash, the foundation had undertaken an aggressive sell-off to prop up UST. However, this doesn’t seem to have worked since the coin is still down by huge margins losing its Dollar peg.

Despite the small BTC stash left, the LFG still has a total of around $383 million worth of cryptos. These will be used to compensate affected users, stakers, and holders as the forking plan take effect.

Critics Say “This Won’t Work”

While Do Kwon’s plan to fork LUNA may seem to be a relief to many who have been waiting for him to develop an action plan, there are those in the crypto space who aren’t exactly receptive to it.

One of these is the Binance CEO, and another one is the Dogecoin co-founder Billy Markus. Binance CEO argues that creating a fork doesn’t accord the new coin any more value than the collapsed one. He called the attempt “wishful thinking.” The CEO had earlier slammed the Terra team for being sloppy in handling the crypto crash.

 

On his part, DOGE creator Billy Markus doesn’t think creating a LUNA fork is a smart move at all. He sees it as a venue for people to lose even more money.

“the plan is actually fu.king stupid, the only way it works is for a massive amount of even stupider people want to throw their money in a dumpster fire to save one of the dumbest things to ever happen in crypto.”

 

Dogecoin Founder Says 95% Cryptocurrencies Are Garbage And Scam, Elon Musk Responds 

Lele Jima
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Dogecoin Founder Says 95% Cryptocurrencies Are Garbage And Scam, Elon Musk Responds 

The outspoken Dogecoin creator is not holding back as he slams illicit cryptocurrency projects.


The creator of Dogecoin (DOGE) Billy Marcus has slammed the majority of cryptocurrencies in the market, calling a whopping 95% of them are scams and garbage.

According to a tweet made by the Dogecoin creator, cryptocurrencies have earned quite a bad reputation since their inception, with many people, especially traditional financial players, using derogatory terms to describe the asset class.

Derogatory terms like scams, garbage, and bubbles have been used to describe digital currencies in recent times due to the sad stories that have filled the crypto market since its inception.

Doge founder comments in the wake of Terra Luna’s price collapse along with its sister Stablecoin, UST. Billy blasted Luna’s Do Kwon as one of the “tech bros”. Luna and UST crisis has caused investors to lose billions of dollars. As a result, Terra Founder Do Kwon Seeks Police Protection Following Recent Home Invasion From an Alleged LUNA Investor.

Commenting on the derogatory names cryptocurrencies have earned over the years, Marcus said:

“The reason why people think crypto is 95% scams and garbage and most crypto people are assholes is that crypto is 95% scams and garbage and most crypto people are assholes. Let’s change that. it starts with you – what you support, and how you behave.”

He added that anyone who gets agitated by the tweet is the scammers and a.shol.s that are being referred to.

Elon Musk Reaction

Meanwhile, the tweet made by Marcus prompted the reaction of Elon Musk, the founder and CEO of the American electric car company Tesla.

Musk replied to the Dogecoin creator’s tweet with a laughing and crying emoji, suggesting that the post was funny to the extent that it brought tears to his eyes while he was laughing.

As a result of continuous teasing Terra founder, Do Kwon blocked Doge founder on Twitter.

Terra Founder Do Kwon Blocks Doge Founder Billy Markus, Doge Founder Responds

Mark Brennan
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Terra Founder Do Kwon Blocks Doge Founder Billy Markus, Doge Founder Responds

 

Terra Founder Blocks Doge Founder, Doge Founder Responds.



A few days ago, Dogecoin co-founder, Billy Markus, called out what he referred to as “tech bros hubris” in the crypto industry.

This came in the wake of Terra Luna’s price collapse and its sister Stablecoin, UST. Billy singled out Luna’s Do Kwon as one of the “tech bros” he was talking about.

Now, it appears that Billy’s comments didn’t go down well with Do Kwon. Watcher Guru’s recent Twitter update claims that Do Kwon has blocked Billy Markus on Twitter. This is a rare occurrence especially involving influential people in the crypto and blockchain industry.

No Big Deal For Billy

However, the blocking didn’t seem to faze the Dogecoin co-founder. Commenting on it, Billy opined that he wasn’t shocked by Do Kwon’s action, saying blocking people in the crypto space is great, especially if they deserve it.

Billy intimated that he has also blocked “a ton of people” in the crypto space. Going on, he opined that it makes sense that Do Kwon would react since Billy has been his fan while he has been ruining trust in the industry.

“I think blocking people is great. I block a ton of people. I think a ton of people are absolutely worthy of getting blocked, especially in crypto. it makes sense he would block me, as I am not a fan of psychopathic people ruining trust in this space.”

In another somewhat funny tweet, Billy Markus said that he was all for blocking people who can’t tell the difference between real cryptos and Ponzi schemes and who live to make false accusations. Billy may have been referring to DOGE’s eight years of existence and that the crypto has been accepted far and wide. A meme coin that has massive support from people like Elon Musk and Ethereum’s Vitalik Buterin.

“I would also recommend blocking people who can’t tell the difference between actual ponzi scams and cryptocurrency that has been around for 8 years and goes through all the usual cycles. that type likes to make accusations.”

 

Not The Only Critic

Notably, Billy Marks isn’t the only influential person to throw jabs at Luna and Do Kwon. Just recently, another crypto figure, Peter Brandt, expressed his distrust of Luna. According to Peter, Bitcoin is the only actual crypto. However, in Peter’s case, it’s worth noting that he has always been anti-altcoin and views BTC as the ultimate crypto.

It’s not clear why Do Kwon chose to block Billy even as other figures like Binance CEO have been pointing fingers at him and the Terra team for not moving fast to save Luna. Binance CEO shared a tweet to that effect a few days ago.

Detailed List Of Central Banks, And Financial Authorities Participating in El Salvador International Bitcoin Conference 

Albert Brown
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Detailed List Of Central Banks, And Financial Authorities Participating in El Salvador International Bitcoin Conference 

 

President Nayib Bukele wants to lure developing countries into adopting Bitcoin via a conference that will be held in El Salvador.


Following his massive interest in Bitcoin (BTC), Nayib Bukele, the president of El Salvador, has disclosed that his country will be hosting an international Bitcoin conference tomorrow that will feature financial authorities from 44 countries. 

According to President Bukele, El Salvador has invited 32 central banks and 12 financial authorities from different countries. These financial authorities will discuss the benefits and rollout of the world’s largest cryptocurrency Bitcoin, and financial inclusion, among others. 

“Tomorrow, 32 central banks and 12 financial authorities (44 countries) will meet in El Salvador to discuss financial inclusion, digital economy, banking the unbanked, the #Bitcoin rollout and its benefits in our country,” President Bukele. 

Following are Banks, institutions, and ministries participating in El Salvador Bitcoin conference according to Bukele.

“Banco Central de São Tomé e Príncipe, Banco Central del Paraguay, Banco Nacional de Angola, Bank of Ghana, Bank of Namibia, Bank of Uganda, Banque Centrale de la République de Guinée, Banque Centrale de Madagascar, Banque de la République d’Haiti, Banque de la République du Burundi.

Central Bank of Eswatini, Ministry of Finance of Eswatini, Central Bank of Jordan, Central Bank of The Gambia, Comisión Nacional de Bancos y Seguros de Honduras, Direction Générale du Trésor, Ministère des Finances et du Budget Madagascar, Maldives Monetary Authority.

National Bank of Rwanda, Nepal Rastra Bank, Sacco Societies Regulatory Authority (SASRA) Kenya, State Bank of Pakistan, Superintendencia General de Entidades Financieras de Costa Rica, Superintendencia de la Economía Popular y Solidaria de Ecuador, Banco Central de El Salvador.

Central Bank of Egypt, Central Bank of Jordan, Central Bank of Nigeria, Ministère de l’Economie des Finances et du Plan du Sénégal, Superintendencia de Bancos de la República Dominicana, Banque Centrale de Mauritanie, Banque Centrale du Congo, Central Bank of Armenia, Bangladesh Bank.

Banco de Moçambique, Bank Al-Maghrib (Morocco), Bank of Sierra Leone, Bank of Zambia, Central Bank of Lesotho, Central Bank of Liberia, Central Bank of Sudan, Financial Regulatory Commission of Mongolia Ministry of Finance Zambia, Palestine Monetary Authority, and Reserve Bank of Malawi.”

Invited Countries

The majority of invitees that have been added to the list of countries that will be attending the cryptocurrency conference in El Salvador are mostly developing nations, especially African countries. 

Some of the countries invited to the conference include Nigeria, Ghana, Burundi, Egypt, Jordan, Pakistan, Nepal, Rwanda, Kenya, Costa Rica, Ecuador, Zambia, Morocco, Armenia, and Paraguay. 

It is not clear whether all the countries invited will be attending the conference, but President Bukele seems confident that the conference will be held successfully as slated. 

Cardano’s Founder Reaction

The move has been widely celebrated by the entire cryptocurrency community, who seem confident that the conference will bring positive results to the industry, like seeing more countries adopt Bitcoin as a legal tender just like El Salvador did eight months ago. 

One industry expert who seems happy with the initiative is Charles Hoskinson, the CEO of Input Output Global (IOG), the organization in charge of research and development at Cardano. 

In an update on the microblogging platform Twitter, Hoskinson quoted President Nayib Bukele and added a gif of a man nodding in agreement with the development, with the caption “Yes” admiring the development.

El Salvador’s Bitcoin Adoption

Meanwhile, El Salvador has been at the forefront of leading the Bitcoin evolution among nations, as it believes the digital currency will eventually replace fiat in the near future. 

President Bukele has not only been talking about Bitcoin’s adoption, but he has also led El Salvador on a BTC accumulation spree, with hundreds to thousands of top cryptocurrencies bought on different occasions, especially during dips. 

As reported last week, El Salvador took advantage of the massive dip to purchase 500 units of Bitcoin.  

Cardano Founder Sets Timeline for Vasil Hard Fork Testnet Launch, Applauds Community Love For ADA Ecosystem

Lele Jima
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Cardano Founder Sets Timeline for Vasil Hard Fork Testnet Launch, Applauds Community Love For ADA Ecosystem

Cardano is still on track to implement the Vasil upgrade as scheduled. 


Charles Hoskinson, the founder, and CEO of Input Output Global (IOG), the organization in charge of research and development of Cardano, has reiterated that the upcoming Vasil Hard Fork will be implemented as scheduled.

Speaking in a recent YouTube video, Hoskinson said the much-anticipated Vasil Hard Fork will be launched on June 29, 2022. However, the testnet for the upgrade is slated to be deployed later this month, which will make the necessary preparation for the mainnet launch on June 29, 2022.

Upcoming Vasil Features

It is worth noting that the upcoming Vasil Hard Fork is tipped to deploy significant upgrades to the current Cardano performance, especially the network’s smart contract platform.

According to the IOG team led by Hoskinson, the Vasil upgrade will introduce four major CIPs that will enhance the entire network’s performance.

The IOG teased last month that Vasil will deploy CIP-31 (Reference Inputs), CIP-32 (Inline Datums), CIP-33 (Reference Scripts), as well as CIP-40 (Collateral Outputs).

With the Vasil upgrade preparing for a mainnet launch by the end of next month, the IOG noted that all hands are on deck to ensure the Hard Fork has a smooth launch as expected.

At the moment, the development team is currently focused on the UTXO HD integration, an aspect of the upgrade that is concerned with testing and resolution workflow.

So far, a total of eight nodes have been redeployed to the peer-to-peer testnet. In addition, another 51 pre-registered SPOs are also integrated to assess testnet performance and share feedback.

Hype Around Vasil Upgrade

There has been a lot of fuss around Vasil Hard Fork, with Hoskinson spearheading the hype around the project.

According to Hoskinson, many developers are eagerly waiting for the official launch of the upgrade, as it is expected to unveil significant features as well as enhance the network’s scalability.

Hoskinson is confident that once more developers start building on Cardano, the amount of total value locked (TVL) on the network will skyrocket.

Hoskinson Applauds Community

In other news, the IOG CEO also took out time to commend the Cardano community for their massive show of love and support for the popular blockchain project.

This comes after two Cardano enthusiasts tweeted a picture of themselves with the Cardano flag, with the caption that read:

“Try to get the #Cardano flag out on the summit of Mount Everest in the high winds with my sherpa Nerbu @IOHK_Charles.”

Responding to this show of love, Hoskinson stated that the development shows the difference between Cardano and other digital currencies.

He stated that while other cryptocurrencies pay influencers to get these things done, the Cardano community executes them based on the love they have for the ecosystem, adding:

“The Cardano Community just does it themselves out of love for the ecosystem and philosophy. We got marketing. It’s three million strong and growing.”

“Never Moved Or Sold” Binance CEO Shares More Insights Showing Exchange Still Holds 15M Terra (LUNA) Received In 2018

Mark Brennan
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“Never Moved Or Sold” Binance CEO Shares More Insights Showing Exchange Still Holds 15M Terra (LUNA) Received In 2018

 

Binance CEO Says they completely support Terra’s (LUNA) proposal of supporting retail Investors while holding the Luna and UST.



Binance’s CEO admitted that he was under pressure from crypto Twitter to disclose whether the exchange owned any UST in a recent tweet. He intimated that he made moves to ask his team at Binance whether the company had invested n UST.

Apparently, Binance doesn’t hold any UST except what the exchange gets as trading fees.

“We probably do have some from trading fees. Probably valued close to 0 now. (Think of it as free trading in the past, haha). This just wasn’t on my mind. Not how we prioritize things. Users first.”

Binance’s CEO confirmed that Binance invested $3M in Terra (LUNA) in 2018 as Binance Labs invested in hundreds of projects. The 15M coins that cost Binance $3M in 2018 could have been sold at 560x returns when Luna was trading at an all-time high of $119, but the exchange Never moved those coins nor sold them.

“Binance received 15,000,000 LUNA (at peak worth $1.6 billion, now not much) as part of the original ($3m) investment. 560x return at peak. It still sits at the address we received it. Never moved or sold.” 

Binance CEO also shared an address for clarification.

Address: https://finder.terra.money/mainnet/address/terra19scdgmvhj5rl7f66n06z5pescf0gmeysw6pjrz

 

The CZ confirms that Binance has not invested any amount in the 2nd round of Luna’s fundraising regarding UST.

“Binance did not participate in the 2nd round of Luna’s fundraising, nor did we acquire any UST. Binance Labs invested $3m in Terra (the layer 0 blockchains) in 2018. UST came much later after our initial investment.

Further Binance CEO highlights that the exchange holds $12M UST from the trading fees or staking over time on the same address but sold none.

“On this same address, we have about $12,000,000 UST from staking over time (not bought). Also never moved or sold.”

The CZ finally said that Binance’s first aim is to protect users. They ask the Terra project team to compensate the retail users first:

“Now, the important part. To lead by example on PROTECTING USERS, Binance will let this go and ask the Terra project team to compensate the retail users first and Binance last. Binance (after a 5 min discussion) fully supports this proposal.”

Ripple v. SEC: FOX Journalist Says Jay Clayton Was the Only SEC Exec Who Reviewed William Hinman’s 2018 Speech

Mark Brennan
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Ripple v. SEC: FOX Journalist Says Jay Clayton Was the Only SEC Exec Who Reviewed William Hinman’s 2018 Speech

More revelations continue to surface about the 2018 William Hinman documents.  


There has been much controversy surrounding William Hinman’s 2018 speech that saw the SEC’s former Director of the Corporation of Finance declare Ethereum as a non-security.

The speech, which ended the neck-to-neck contest for which cryptocurrency would become the second-largest cryptocurrency between Ethereum and Ripple, made many believe that Hinman drafted that speech in favor of ETH due to his affiliation with the digital currency at the time.

According to a recent analysis by FOX Business journalist Eleanor Terrett, the 68 drafts of the speech were not reviewed by anyone but Jay Clayton, the former Chairman of the SEC.

Terrett noted that Clayton, who is believed to have close affiliations with Ethereum, made some input into the speech before Hinman made it public.

“Regarding @SECGov vs. @Ripple, I think I’m pretty much up to speed now. My biggest takeaways: The whole commission except Clayton was left off the 68 drafts of Hinman’s speech. @CGasparino and I reported that Clayton gave input on the speech before delivery,” Terrett said.

Interestingly, the SEC’s Ethics counsel who warned Hinman not to have any meeting with Simpson Thacher & Barlette while he was still Director of the Corporation Finance, was also not added to the email distribution list.

It is worth noting that despite the warnings from the ethics counsel, Hinman still went ahead and had a series of meetings with Simpson Thacher, a member of the Enterprise Ethereum Alliance (EEA).

The Big Question

Following Hinman’s close ties with the EEA, Terrett asked:

“As a member of a former (and future) firm with these ties, wouldn’t Hinman’s speech declaring Ethereum, not a security (and, subsequently, the price of ETH soaring) qualify him as ‘participating personally and substantially in a manner that would have a ‘direct and predictable effect’ on Simpson, Thacher & Bartlett?”

She added that if at all Hinman did not consider the implications before delivering the speech, someone at the Ethics department would have spotted the loophole unless they were not given access to review the speech.

“It will be interesting to see if the SEC responds to @EMPOWR_us request for an investigation into its ethics officials,” Terrett concluded.

Reacting to the development, attorney John Deaton, a lawyer representing 65,000 XRP holders in the ongoing lawsuit between the SEC and Ripple applauded the FOX journalist for the important question raised, saying:

Meanwhile, the Securities and Exchange Commission is doing everything within its power to prevent Hinman’s documents from being used as evidence in the ongoing lawsuit despite the court’s orders.

California ‘Cardinale Automotive Group’ Now Accepts Shiba Inu (SHIB) As Payment

Zabi
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California ‘Cardinale Automotive Group’ Now Accepts Shiba Inu (SHIB) As Payment

California Business “The Cardinale Automotive Group” Now Accepts Shiba Inu (SHIB) as a Payment via BitPay.



The Cardinale Automotive Group, one of the California businesses headquartered in Marina that deals in quality automobiles added support for Shiba Inu (SHIB). Marina is a city in Monterey County, California, United States.

The Cardinale Automotive Group will now accept Shiba Inu as payment through BitPay, in all of its 22 car dealership stores located in the following three US states California, Arizona, and Nevada.

The decision comes after the car dealership company realized that the financial world is transforming fast. Now, people use to exchange electronic money more compared to cash. So, the acceptance of cryptocurrency at this moment is a need of the hour. With this decision, the company also hopes to attract new businesses to them.

John Guru, Corporate General Manager and Director of Digital Assets said:

“Our automotive group is very forward-thinking on their belief that cryptocurrency is the future and a hedge against inflation. We realize that almost all transactions are done electronically now. Rarely is anything done with cash and we strongly believe in digital assets.”

John Guru also confirmed that they will take the help of BitPay, in order to make the acceptance of cryptocurrency possible in their business. He said:

“BitPay manages the entire process turning the customer’s crypto into dollars deposited into our bank account the next business day.”

BitPay is a company that gives businesses access to a $1+ trillion crypto market by providing them with powerful, enterprise-grade tools for crypto acceptance and spending. The company currently accepts a total of 13 cryptocurrencies which account for 70% of the global crypto, including 5 USD-pegged stablecoins.

The list includes Bitcoin (BTC), Ethereum (ETH), Shiba Inu (SHIB), Dogecoin (DOGE), USD Coin (USDC), Bitcoin Cash (BCH), Litecoin (LTC), Dai (DAI), Wrapped Bitcoin (WBTC), Gemini Dollar (GUSD), Pax Dollar (USDP), Binance USD (BUSD), and Ripple (XRP).

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