ECB President Renews Calls for Crypto Regulation

European Central Bank President Christine Lagarde reiterated her concerns over cryptocurrencies and her desire for regulation. “My very humble assessment is that it is worth nothing, it is based on nothing, there is no underlying asset to act as an anchor of safety,” she said.

Crypto prices today: Bitcoin up 3.7%, ETH rises 4%

Bitcoin is currently trading at $30,485.34, a 3.7% increase over the previous day. Ethereum rose 4% over the last 24 hours to $2,054.06. Solana jumped 5.25% to $53, while Cardano is trading higher by 3.05% at $0.546. Avalanche (AVAX) rose 7.17% to $32.03. The global crypto market cap stands at $1.3 trillion, a 3.44% increase over the previous day.

India’s crypto sector needs ‘peace’ and ‘certainty’: CoinSwitch CEO

CoinSwitch CEO Ashish Singhal called for clearer/fair rules to resolve the regulatory uncertainty in India’s crypto space. “Users don’t know what will happen with their holdings— is the government going to ban, not ban, how is it going to be regulated? Regulations will bring peace and more certainty,” he said. Singhal was speaking at the World Economic Forum in Davos.

Manchester City FC partners with Quidd to launch new NFT collection

Manchester City FC has partnered with Quidd (a subsidiary of Animoca Brands) to launch a new 3D NFT collection. The football club has been a strong advocate of Web3. The latest NFT collaboration follows a partnership with Sony to take Premiership football to the metaverse.

Terra (LUNA) rallies over 55% in 24 hours after last week’s crash

TerraUSD (UST) surged over 10% to $0.07, while its sister crypto token Terra (LUNA) rallied more than 56% to $0.00021 over the past 24 hours. UST collapsed from its intended 1-to-1 peg to the dollar earlier this month and dragged LUNA down with it. Terra Labs’ CEO Do Kwon is facing legal prosecution in South Korea over the collapse of the two coins that wiped out billions of dollars from investors.