The Luna Foundation Guard (LFG), the entity whose task was to maintain the stability of the terraUSD (UST) peg, said it spent nearly all of its bitcoin (BTC) held in reserves to defend UST’s dollar peg as it collapsed. But from what is left, users of the failed stablecoin will be compensated, LFG said….…
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New reports fuelled speculations that Do Kwon (real name Kwon Do-hyeong) may have been aware of a storm brewing for the terra (LUNA) platform – and that the Terraform Labs mastermind may have taken action to dissolve domestic parts of his company as early as last month in anticipation…. Read More: Terra’s Do Kwon…
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Big players in the crypto industry do not seem supportive of the latest Do Kwon’s proposal of how to help the collapsed Terra (LUNA) ecosystem. Last Friday, Terraform Labs co-founder Do Kwon put forward a ‘revival plan’ suggesting that the network hard fork and reset ownership to 1 billion tokens. A the time of…
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At a time when the third-largest stablecoin, terraUSD (UST) collapsed, a group of Coinbase’s clients are suing the crypto exchange over its alleged role in the promotion and trading of GYEN, another stablecoin the plaintiffs claim brought them millions of dollars in losses…. Read More: Coinbase Sued Over Collapsed Stablecoin, but It’s Not UST…
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It’s time for some self-reflection in the crypto community after the spectacular collapse of the terraUSD (UST) stablecoin and the entire Terra (LUNA) ecosystem. A debate about what crypto investing should be like, how crypto projects are promoted and whether ‘bitcoin-only’ is the best strategy to follow for average investors, has now re-emerged in…
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A furious terra (LUNA) investor appears to have come knocking at the door of the Terra mastermind Do Kwon (also known as Kwon Do-hyeong) looking for answers after the token spectacularly collapsed. South Korean police are hunting for an unidentified person who reportedly broke into the apartment complex in which Kwon resides and rang…
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The Terra (LUNA) blockchain has been halted by network validators for the second time, after saying on Thursday that block production had been resumed again. Despite the network halt, the token continues to be traded on some exchanges. “Terra Validators have halted the network to come up with a plan to reconstitute it. More…
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Some smaller-cap stablecoins are struggling to maintain their targeted peg, which is mainly USD 1, amid a huge bloodbath in crypto that has wiped off billions from the market. The development follows a depeg seen by Terra (LUNA)’s decentralized stablecoin UST, which seems to have placed the entire market into jeopardy. At 10:30 UTC,…
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The price of the stablecoin protocol Maker’s governance token MKR has erased all of its gains from this week, after spiking up by close to 90% on Wednesday. At the time of writing (12:18 UTC), MKR was trading at USD 1,117, down by 27% for the past 24 hours and down by 25% for…
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The two most-discussed tokens this week – luna (LUNA) and terraUSD (UST) kept moving lower, despite the team behind these projects announcing “three more emergency actions” in an attempt to save the UST algorithmic stablecoin…. Read More: LUNA Dives Below USD 0.05, UST Trends Lower Despite New Rescue Plans Read more »Pay, Trade, Buy…
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