BIG CRYPTO NEWS TODAY 🚨 THIS IS BIG! 🔥 TERRA LUNA CLASSIC BURN UPDATE !🚨 🔥 🌌 BTC NEWS TODAY 🌛
What is happening with bitcoin, what is happening with the overall crypto market right now were gon na, be talking about that. So, if that sounds good to, you, guys make sure to hit the thumbs up button. If you guys knew the channel make sure to subscribe, hit the notification bell and as always, this is not financial advice – im, not a financial advisor, but i hope you guys are enjoying the journey so far and guys. I want to kick it off with some good news in the crypto space today, so we do like the good news on the channel, so have a look at this tether prepares full audit to improve usdt reserves, transparency. Now this is uh really big news, because we know one of the big drivers of fudd recently has been usdt usdt tether. If we check out the crypto prices right now, youre going to see number three crypto usdt tether right here. This has a big market cap. So 66 billion and a lot of the fun behind tether was uh. Basically, you know whats backing this. Cryptocurrency is one day this just going to pop. Is it just going to disappear? Is it going to crash down to below zero like ust did and uh right? Now and right now we have a really big update for usdt, and it says here in an interview with euromoney chief technology officer, paolo said, tether was now working on providing a comprehensive audit which, unlike attestations, would help give a complete picture of the companys financial position Over a specific period – and he says i think its one of the top 12 – so not that bad big four are a bit more cautious about providing full audit when the rules are not clear.
So hes, referring to the big four auditing companies out there, deloitte ey, pwc and kpmg, but its gon na be a top 12 audit company and uh. You know it is important, so if this actually does go through, they do get a big audit for tether. This is going to be a good signal, so its going to put a lot more faith back into this stable coin, which is good for the crypto, because we dont want the crypto to collapse, thats going to drag down the rest of the market, just how kind Of terra luna, the original one did collapse, but thats a really important update so im looking forward to this big audit coming out for usdt, which will dispel a lot of the fight in the crypto space, and we also have massive bailouts happening in the crypto market. As well so have a look at this crypto exchange, ftx bails out lending platform block fi, so the ceo of ftx sam bankman freed uh. He is basically bailing out a lot of the lending providers that have run into financial difficulty. One of the big ones we have spoken about before is block fi, so there was big questions around block fight kind of similar to celsius, whether it was going to be insulting or not, and it says right here that his ftx crypto trading platform has extended a 250 million loan to block fi, and last week the ceo helped crypto broker voyager digital pull back from the brink, with a loan that totaled about 585 million dollars in cash and bitcoin.
So what we are seeing right now is cryptocurrency bailouts and uh. That is really interesting, so ftx obviously has a lot of money. This guy has a lot of money and hes bailing out a lot of the centralized lending protocols, which is good. So this is another piece of good news for today and it means theres not going to be more bankruptcies in the crypto space when cryptos collapse. You know that fear that is caused does drive investors out of the crypto market. We want the crypto market to grow steadily healthily and good to see some bailouts happening for those lending platforms right there, and we also have a tweet from cesar of binance and have a look at this todays crypto price around twenty one thousand dollars. But then, if you go back every year so one year ago, was it thirty one thousand dollars two years ago, nine thousand dollars three years ago, ten thousand dollars four years ago, six thousand dollars five years ago, uh two thousand dollars, and then it gets ridiculously small. So, nine years ago, 110 – and yesterday on the channel, what do we say? It was like at one cent 11 years ago, and this is the magic of cryptocurrency, so those people who get into good projects early like your bitcoin. That is where some crazy gains can happen in the crypto market. So if youre holding an altcoin, you think youre in early and you think its going to grow.
You know over a period of time and you look at this. This is a long time window. This is not just a couple of months guys. This is multiple years. This is 10 years of growth for bitcoin and some years the price also went down, but we talked about the bitcoin price at the end, but thats a very cool tweak coming out of cz and guys. We also have some updates about tara, luna, 2 and tara luna classic as well. I want to share with you guys right now so: tara, luna 2., joe kwan hes, been very quiet over on twitter and there has been some more bad news for tara luna 2.0 and it says right here: south korea puts crypto company terraform labs staff on a No fly list, so that is not good, so we do know they are caught up in our legal troubles. Right now, with the collapse of tara luna, the original and uh the south korean government have put them on a no fly list right there, but time will tell how this cryptocurrency ends up going and guys lets do an update on terra luna classic. So we do know theres a lot of interest in terra luna. Classic we can see, the burn has exceeded 1 billion right there. But again this is still early days for tara, luna classic and we do have some other big updates have a look at this proposal. 4095 re enable staking slash delegation to existing active validator set only and this one has passed with a yes, so its reached the threshold, which is good.
So there is a lot of interest with lunar classics and uh. You know my personal belief about lunar classic. Is you know its a high reward high risk crypto, but at the same time you know the essence of this cryptocurrency will come down to that community. So the stronger the crypto community is for lunar classic the more people who want to get involved in you know developing out the crypto ecosystem, creating that utility putting in place those burns, the better it will be for the cryptocurrency and really terra luna classic. You know synonymous with burn, so what needs to happen is that burn number needs to shoot up its really good to see it above 1 billion, though today and guys lets talk about the overall crypto prices. Lets talk about bitcoins price and what are some critical things? You guys need to be aware of today, and i do think there is still a very strong correlation between bitcoin and also what is happening with the stock market, so the stock market a little bit choppy recently. You can see oil price actually dropping down and uh. You know a lot of the stock market asian stock market, the u.s stock market, its just in a volatile state right now – and i am a still believer that you know for the crypto prices to kind of pump up uh to push back up. We do need some bullish momentum in the stock prices, but if we just zoom out right here, where are we up to with bitcoin and uh lets, just have a look at the overall.
You know the last couple of weeks really for bitcoin, so you guys can see right here. You know we used to be in the realm. Where you know btc was you know maintaining that 30k level, so 30k level was uh holding up pretty good, but then we got hit with this big slide down in the crypto space. So a lot of fud uh entered the market, lots of panics and just recently there was a bit of a low, so it actually did drop down to around 17 500. You guys can see it right. There 17 500 on the charts, and just recently it has been kind of treading along the twenty thousand dollar level. So we did see it push up above twenty one thousand dollars yesterday, which is good, but recently you know twenty thousand dollars is kind of the new 30k battle zone right now, so you know i do i am. I am still a believer, though, if you do actually take a very, very long term uh. You know zoom out here and were gon na put on the weekly chart right here. You know there is a big difference between the crypto market now and uh the crypto market back in 2017, 2018 and uh. That is theres, so much more investment, even though the charts are looking red. Uh weve. Had you know a dozen weeks of red, or so recently right here, uh the difference between the 2017 market is, you know, theres a lot more investment in crypto right now, its a lot more built out in the 2021 market 2022 market than it was back in 2017.
2018. The only thing that probably is a little bit. You know rocky on the downside of the current market. Is you know the background, unfortunately, just with what the worlds been hit with in the last two years, be it the conflict? You know russia, ukraine and also whats happening with the world with uh. I cant say the word because youtube doesnt like it, but you guys know whats up that has battered the economy to some degree. So 2022 were dealing with a little bit of uh fud economically. In the background, so i think im still a believer. You know once the economics gets sorted out, crypto should be in a good position, but also at the end of the day. You also have to zoom out and remember. It is a long journey. So, multiple years, you know decades, five years ten years and you always have to be also comfortable with your levels of risk. What youre, diversifying in what your exposure is to crypto always have those things in your mind, thats. What i do anyway, but as always, not financial advice, and if we do take a look at the other cryptos today have we had any big winners, so ships looking really nice today, so up 18, we have waves up 40 as well, and uh. Zill is up 10 and snx is up 16, so some winners on the crypto market today, other ones a little bit in the red. You guys know it is kind of pairing up with bitcoin.
So when bitcoin drops 2.6 in the last 24 hours, a lot of the other cryptos will drop. But again, if you do zoom out, you do take that long term perspective. I do think there are some great cryptos out there and im still bullish on bitcoin in the long run, but guys massive wrap on the market. For today. I hope you guys got some value out of it.