The Seoul Metropolitan Police Agency said it had launched an investigation into allegations about an employee of crypto billionaire Do Kwon's Terraform Labs

The eight largest stablecoins had an aggregated market capitalisation of $154 billion at May 30 and accounted for around 96% of the total market

The bill marks one of the most ambitious efforts yet by US lawmakers to supervise rapidly growing and controversial crypto markets

The move underscores the growing acceptance of digital currencies among financial institutions as they seek a wider range of investors

China may have to strengthen already stringent cryptocurrency rules following the TerraUSD stablecoin collapse, the report said

The Commodity Futures Trading Commission seeks "disgorgement of ill-gotten gains", civil monetary penalties and an injunction against further violations of the Commodity Exchange Act

South Korean Do Kwon co-founded TerraUSD and Luna, two cryptocurrencies that crashed last month, causing mayhem across the industry.

"We refute the popular narrative of one 'attacker' or 'hacker' working to destabilise UST," Nansen's principal research analyst Aurélie Barthère and colleagues said in the report.

Asset management firm One River sought to list on the NYSE Arca exchange, but the Securities and Exchange Commission ruled the ETF did not meet standards

Stepn lets users buy and trade NFTs and in-game crypto by walking or running in the real world and they then convert in-game earnings to other crypto or cash

The firm had raised $40 million in its previous round, a year earlier. The cryptocurrency lender and asset manager is now valued at $2 billion.

Crypto exchanges crowded the sidelines of the main conference aiming to gain credibility with mainstream companies ranging from Tyson Foods to Salesforce.com