South Korean police could reportedly take over from the “Yeouido Grim Reaper” financial crimes investigation unit in the probe of Terraform Labs after “embezzlement” charges were leveled at an unnamed employee…. Read More: Police Reportedly Looking into Allegations that a Terraform Staffer ‘Embezzled’ Funds Read more »Pay, Trade, Buy Bitcoin with Credit Card
The Terra (LUNA) blockchain is moving closer to being re-born as Terra 2.0, this time without an algorithmic stablecoin. The project has already received the blessing of several exchanges, but questions about what the value of Terra is without a stablecoin have started to emerge…. Read More: Terra Moves Closer to New Chain Launch,…
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Bitcoin price declined and settled below USD 30,000. BTC traded below USD 29,200 and is currently (11:45 UTC) showing bearish signs near USD 29,100. BTC is down 1% in a day and is still up more than 1% in a week. Besides, most major altcoins are gaining bearish momentum. ETH declined below the USD…
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After a USD 175,000 seed investment by crypto gaming guild Yield Guild Games (YGG) into the competing guild Merit Circle last year, the latter guild’s community members are now proposing to refund the investment, complaining about a “lack of value” received from the investors. According to YGG, however, there were no conditions tied to…
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South Korean crypto exchanges are now in the firing line as the terra (LUNA) crash fallout continues to sow the seeds of chaos in the domestic crypto industry. Dunamu, the operator of the Upbit exchange, has denied reports that it dumped large sums of LUNA to avoid forthcoming price drops as “groundless” – but…
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The price of the Terra network’s native LUNA token and the failed stablecoin terraUSD (UST) jumped in the market on Wednesday, after a revival plan for the network officially passed a vote, with 65% voting in favor of the plan. A new Terra blockchain is now expected to launch this Friday, May 27th…. Read…
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South Korea’s financial regulators are planning to launch onsite inspections into domestic companies that have a business relationship with Terraform Labs – and particularly those that have made use of terra (LUNA) ecosystem coins. In an exclusive article, the South Korean media outlet Money Today explained that the Financial Supervisory Service (FSS) will begin…
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More regulatory scrutiny could be incoming for the crypto sector in South Korea in the wake of the terra (LUNA) and terraUSD (UST) crash – with exchanges set to come under the same kind of scrutiny as Terraform Labs and its Founder and CEO Do Kwon…. Read More: More Crypto Regulation Incoming in South…
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“I strongly believe that [tether] is fully backed, and you will never have any issues redeeming it,” Tether co-founder and BLOCKv CEO Reeve Collins has said. Speaking in an interview with CNBC on Monday, Collins said that the popular stablecoin tether (USDT) is “still backed 1:1” by reserves, although he noted that this backing…
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The purported benefits of a central bank digital currency (CBDC) in the United States are “uncertain and unlikely to be realized,” and there is no compelling case for it, the American Bankers Association (ABA) has said in a letter to the US Federal Reserve (Fed). The letter also warned that a CBDC could undermine…
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