The popular stablecoin tether (USDT) is again the subject of unwanted attention after approximately USD 9bn has been redeemed for US dollars by users in the aftermath of the terraUSD (UST) collapse. The redemptions have come despite USDT trading on exchanges within a rounding error of its USD 1 peg. At the time of…
Read more
Another headache appears to be incoming for Do Kwon (full name Kwon Do-hyeong) and his company Terraform Labs – with investors in South Korea ready to wage a legal battle against the CEO. Munhwa Ilbo reported that as many as three separate legal cases are now being mounted – each involving hundred of South…
Read more
Major Terra (LUNA) backer Mike Novogratz of Galaxy Digital is still largely silent on the downfall of LUNA and the terraUSD (UST) algorithmic stablecoin, while some other institutional investors have put out vague statements that called the incident “hell for our entire community” and “incredibly humbling.”… Read More: From Silence to Humbling Hell –…
Read more
Fans of shiba inu (SHIB) will be dismayed to hear that fintech specialists say that the doggy-themed coin will be worth nothing at all in eight years’ time – with most opining that the time has come for Shib Army soldiers to ditch their coins…before it’s too late…. Read More: Shiba Inu Army, Look…
Read more
The little-known smart contract platform Chain (XCN) is attracting attention after its native XCN spiked in price and briefly leaped into the top 40 list of the most valuable cryptoassets by market capitalization. Shortly after, however, the token dumped in the market to trade at its lowest point in nearly a week. As of…
Read more
A plan to revive the Terra (LUNA) ecosystem by creating a new blockchain without an algorithmic stablecoin has been designated as “final” and put to vote by Terraform Labs CEO and co-founder Do Kwon. (Updated at 13:00 UTC with details about the vote over Do Kwon’s proposal.)… Read More: Do Kwon’s Plan for New…
Read more
DEI, a hybrid algorithmic stablecoin of decentralized finance (DeFi) protocol DEUS Finance, has failed to restore its intended peg, currently trading under one dollar for the third day. The stablecoin first lost its dollar peg on Sunday after a wave of uncertainty incited by the crash of Terra’s decentralized stablecoin UST led to traders…
Read more
Another Terra (LUNA) ecosystem revival plan by Terraform Labs (TFL) CEO and Co-founder Do Kwon seems to have the support of at least some Terra developers, while trust issues still pose serious challenges to this plan. In a Monday post and an accompanying Twitter thread, Kwon suggested forking the Terra network into a new…
Read more
The Terraform Labs mastermind Do Kwon (real name Kwon Do-hyeong) could be facing trouble from financial and law enforcement authorities in South Korea and Singapore as a torrid month for the Terra (LUNA) platform just keeps getting worse. Following reports that Kwon appears to have dissolved two domestic arms of his company as early…
Read more
Bitcoin price remained well bid above the USD 29,000 level, formed a base, and jumped above USD 30,000. It is currently (11:46 UTC) showing positive signs near USD 30,400 and might gain pace if it clears USD 31,200. BTC is up around 1% in a day and a week…. Read More: Bitcoin and Ethereum…
Read more
