Stablecoins, the safe and strait-laced cousins of crypto, are looking distinctly dicey. Tether, USDC and others lost their prized pegs to the dollar last week in a bout of market mayhem that shook faith in these coins that were designed to sidestep crypto volatility. But was it an isolated outburst, or are they losing their […]
Reuters
Uber Technologies Inc on Monday said it launched pilot food delivery services with autonomous vehicles in two California cities, and said it was adding electric vehicle charging stations into its global driver app. The announcements are part of Uber’s annual product event where the ride-hail and food delivery company showcases the latest updates to its […]
Two top U.S. defense intelligence officials were due to testify on Capitol Hill on Tuesday about what the government knows of unidentified flying objects, in the first public congressional hearing concerning UFOs in more than 50 years. The hearing before a U.S. House Intelligence subcommittee comes 11 months after a report documenting more than 140 […]
REE Automotive, which develops rolling chassis for commercial electric vehicles (EVs), said on Monday it will build an assembly plant in the British city of Coventry to supply customers in Europe. The Israeli-based startup said the highly-automated assembly plant it will complete this year in partnership with Rockwell Automation and Expert Technologies will have an […]
The United States and European Union will announce a joint effort to avert a “subsidy race” as they scramble to boost production of scarce semiconductor chips, a senior Biden administration official said. The move will be unveiled at the second meeting of the U.S.-EU Trade and Technology Council (TTC), taking place on Sunday and Monday […]
Cryptocurrency exchange FTX’s founder has said that bitcoin has no future as a payments network and criticized the digital currency for its inefficiency and high environmental costs, the Financial Times reported on Monday. Bitcoin, the world’s largest cryptocurrency, is created by a process called “proof of work” that requires computers to “mine” the currency by […]
A top official at the U.S. Securities and Exchange Commission (SEC) signalled on Thursday that stricter rules around crypto stablecoins could be drawing closer. Cryptocurrency markets have an overall value of about $1 trillion this week amid the collapse of the stablecoin TerraUSD and a destabilising plunge in Tether, currently the world’s largest stablecoin by […]
The United States will share technologies used to make COVID-19 vaccines through the World Health Organization and is working to expand rapid testing and antiviral treatments for hard-to-reach populations, President Joe Biden said on Thursday. Speaking at the second global COVID-19 summit, Biden called on Congress to provide additional funds so that the U.S. may […]
Cryptocurrencies nursed large losses on Friday, with bitcoin just above $30,000 and set for a record losing streak after the collapse of TerraUSD, a so-called stablecoin, rippled through cryptocurrency markets. Crypto assets have also been swept up in broad selling of risky investments on worries about high inflation and rising interest rates. Sentiment is particularly […]
The meltdown in TerraUSD, one of the world’s largest stablecoins, rippled through cryptocurrency markets on Thursday, pushing another major stablecoin Tether below its dollar peg and sending bitcoin to 16-month lows. Cryptocurrencies have been swept up in a sell-off in risk assets, which has picked up steam this week as data showed U.S. inflation running […]