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Last Week’s Hot 5 Altcoin News

We all know the cryptocurrency market never sleeps, unlike the centralized stock market. There are constant updates and developments happening throughout the industry. It is vital to keep track of the latest developments to make educated choices. Here’s the latest about Altcoins!

HUSD Lost USD Peg Temporarily

The HUSD Stablecoin, originally associated with Huobi Global, lost its peg to USD and dropped to a low of $0.827 per unit on Thursday last week. Huobi tweeted, “We are aware of the current liquidity issues associated with the HUSD stablecoin, which is issued by Stable Universal Limited and built on the Ethereum network.” It added, “Huobi has always prioritized the safety of our customers’ assets, and will work together with HUSD’s issuer to find a solution and restore its stability as soon as possible,”

Gnosis Plans on Distributing 50 Million SAFE Tokens

Gnosis Safe, the multi-signature wallet, has proposed to distribute 50 Million SAFE tokens to prepare for the successful launch of its SafeDAO to govern the ecosystem. 

Binance Obtains In-Principle Approval From AFSA in Kazakhstan

Binance has received an In-Principle Approval from the Astana Financial Services Authority for operating as a Digital Asset Trading Facility and Provider of Custody in the Astana International International Financial Centre. 

Crypto.com Signed Pre-Registration Undertaking with OSC in Canada

Crypto.com, one of the largest digital asset trading platforms, has recently received a pre-registration undertaking for operations in the Canadian Region by the Ontario Securities Commission (OSC). 

“The North American market, and Canada specifically, represent a significant area of potential growth for the crypto market, and we are proud to work with the OSC and the CSA in providing Canadian customers access to a safe, secure and reliable global platform.” told, Kris Marszalek, the CEO of Crypto.com. 

Galaxy Digital Terminates its acquisition of BitG

Galaxy Digital recently terminated its acquisition of BitGo, the crypto custodian. The financial services and investment management firm last week announced the termination of the $1.2 billion acquisition. BitGo is reportedly seeking $100 million compensation after Galaxy moves to end acquisition! 

These are some of the latest news in the Altcoin industry. Follow us to stay updated! 

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