RIYADH: Bitcoin, the leading cryptocurrency internationally, traded higher on Thursday, falling by 0.45 percent to $30,365.75 as of 8:30 a.m. Riyadh time.
Ethereum, the second most traded cryptocurrency, was priced at $1,804.38 up by 0.86 percent, according to data from Coindesk.
Galloire to accept cryptocurrency for physical or digital art
Galloire, a Dubai-based contemporary art gallery, has signed an agreement with Abu Dhabi’s MidChains to become the first major Middle Eastern gallery to accept cryptocurrency as payment for physical or digital art, according to a statement.
Galloire has now joined a list of major international galleries such as Pace, Lehmann Maupin, and Gagosian that accept Bitcoin, Ethereum, and USD coins for global artwork sales, the statement said.
MidChains is a platform for trading virtual assets that previously received support from global firms such as MIAX and regional firms such as Mubadala and ADQ.
The gallery will begin accepting cryptocurrency payments this week.
Luna Crypto crash investigation launched in South Korea
Do Kwon’s Terraform Labs is the subject of an investigation by South Korean police and prosecutors following the $40 billion implosion of his tokens, which roiled the global cryptocurrency market, according to the Financial Times.
It added that the Seoul Metropolitan Police Agency has opened an investigation into allegations that an employee of Terraform Labs embezzled bitcoin from the company.
Seoul prosecutors are already looking into two collective complaints filed on behalf of 81 investors in late May alleging that both Terraform and its founders deceived them with their flawed algorithmic coins, the Financial Times reported.
The Financial Times said that several financial authorities around the world are currently taking steps to tighten regulation of the crypto market following the spectacular collapse of Da Kwon’s stablecoin luna, as well as its counterpart terraUSD.
