The European Central Bank (ECB) has kept interest rates at zero but Christine Lagarde, ECB’s president, said there was “unanimous concern” among policy makers about inflation. “Compared with our expectations...

French gaming powerhouse Ubisoft has officially partnered with the HBAR Foundation and Hedera to deliver Web3 GameFi products for the Ubisoft brand.

Ubisoft keeps enlisting crypto allies as it now turns to The HBAR Foundation and explores the Hedera ecosystem.

Terra Luna’s ‘lunatics’ have had their sights set on a multi-part announcement that is set to unveil, and this week the first piece of the puzzle has come to life. This week, Terra announced the formation of a new non-profit organization, the Luna Foundation Guard (LFG), that is “dedicated to supporting the advancement of open-source technology, facilitating the growth of the Terra ecosystem, and improving the sustainability and stability of Terra’s algorithmic stablecoins.” Terra Says “LFG” Terra has launched a dedicated landing page, lfg.org, outlining the team, mission, and funding & grants around LFG. The new non-profit will emphasize a number of major pillars that they see as core in advancing the ecosystem. Founder and CEO of Terraform Labs, Do Kwon, also released a recent tweet thread highlighting the major pillars behind LFG: 1/ 1 out of 3 💎 https://t.co/PcxKtGhpeT is born: – a non-profit foundation – governed by top builders in @terra_money eco– dedicated to $UST stability and adoption– decentralizing core teams behind @terra_money https://t.co/p6PkN4cWE0 — Do Kwon 🌕 (@stablekwon) January 20, 2022 In all, the Foundation will serve as a mechanism to continue driving engagement and adoption of Terraform Lab’s growing stablecoin, UST. Adoption of UST has continued to grow as the token, seen broadly as one of the most decentralized yet mainstream stablecoin options currently available, approaches an $11B market cap. The aforementioned Do Kwon will lead the charge for the Luna Foundation Guard, alongside founding member Nicholas Platias and several governing council members. The team will deploy foundation grants, starting at the end of the month, to blockchain projects in the ecosystem that address open-source development, research and education, and community growth within the Terra network. Related Reading | TA: Bitcoin Dives Below $40K, Why Bulls Could Struggle In Near Term Luna, the tradable token that arguably serves as the 'backbone' of the Terra ecosystem, has performed exceptionally well over the past year. | Source: LUNA-USD on TradingView.com One Of Three… What’s To Come? As mentioned previously, this announcement is slated to be the first of three, from what started as a teaser image of the cover photo used here. That photo led many ‘lunatics’ to speculate on what could be coming – the two intersecting circles led many to believe that an incoming MasterCard partnership could be coming, and many Terra fanatics believed that some sort of Bitcoin-related support could be brought to life as well. Speculation aside, the Terraform Labs-created blockchain continues to shine, recently becoming the first decentralized stablecoin to achieve a $10B market cap as well as launching a new automated market maker (AMM), Astroport. For now, the LFG webpage still has a “{redacted}” section, so don’t be surprised if the coming two announcements, which could likely be unveiled over the weeks to come, are extensions or supplementary pieces of the non-profit. Related Reading | TA: Ethereum Nosedives, Indicators Show Signs Of Larger Downtrend Featured image from medium.com/terra-money, Charts from TradingView.com The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.

The organization is going from ‘open review’ to ‘open source’ to boost network decentralization, among other upgrades.

According to preliminary Eurostat estimates cited by Trading Economics, annual inflation in the eurozone surged for the sixth straight month in December to a record high of 5 percent. Inflation last dipped in June, when it dropped to 1.9 percent from 2 percent in May.  “We view these figures with some concern, as they are higher than we initially expected,” Isabel Schnabel, member of the Executive Board of the ECB, commented in a recent interview with Süddeutsche Zeitung. The official also acknowledged that many individuals in Europe are concerned about the decline in real salaries and interest income. Nonetheless, Schnabel made it plain that the European Central Bank is not yet ready to hike interest rates in the eurozone, citing estimates that the global pandemic’s price spike will be followed by a ‘marked decrease.’ The banker also indicated that the ECB should avoid suffocating the recovery, saying: “In our predictions, medium-term inflation will even fall below our objective of 2 percent, even if we accept that the projections are currently subject to great uncertainty.” European Central Bank to Act if Inflation Settles Above 2% The ECB executive body’s spokesman also stated that the euro zone’s central bank ‘would act promptly and aggressively if we determine that inflation may stabilize over 2 percent.’ She stated that ending net asset purchases is a prerequisite for raising rates. The decision by the ECB’s Governing Council in December to progressively cut them over the next quarters, according to Schnabel, is the first move in that direction. The Pandemic Emergency Purchase Program is expected to be phased out by the end of March 2022. The official denied claims that the ECB’s silence reflected its fears that the euro debt crisis could resurface if interest rates are raised, particularly in countries like Italy.  “Our actions are guided solely by our price stability mandate. Public borrowing by individual countries has no bearing on the Governing Council’s decisions,” she insisted. The findings from Eurostat and Schnabel’s statements come as other major nations experience rising prices as a result of steps taken to deal with the economic consequences of the COVID-19 outbreak. The consumer price index jumped to 7 percent last month, according to data released by the US Labor Department on Wednesday. This is the most significant annual growth in the last four decades.

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The European Central Bank is concerned over inflation in the euro area rising beyond its own expectations, a high-ranking ECB official has admitted. However, Europe’s monetary authority is not prepared to raise interest rates at this point in time, the executive unveiled. ECB Sees No Reason to Adjust Interest Rates Despite Eurozone Inflation Reaching 5% […]