The report suggests that whales with Binance, FTX and Coinbase “probably cashed out at the expense of smaller holders” by reducing their BTC stockpiles as retail investors bought. A report from the Bank for International Settlements (BIS) suggests that trading activity on major exchanges increased in the days following the collapse of crypto firms FTX…
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The United States Securities and Exchange Commission (SEC) ordered Paxos Trust to stop issuing Binance USD. That could affect the whole stablecoins ecosystem. New week, a new element of the crypto ecosystem is under attack. This time, the United States Securities and Exchange Commission (SEC) ordered Paxos Trust to stop issuing Binance USD (BUSD) —…
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South Korean prosecutors have applauded “meaningful” charges brought against Do Kwon, the Co-founder of Terraform Labs, by the top American financial regulator…. Read More: South Korean Prosecutors Applaud ‘Meaningful’ US Do Kwon Charges Read more »Sign up for e-EUR – the progressive stablecoin
The SEC complaint included allegations around claims of TerraUSD’s peg, Terra’s relationship to Chai, and co-founder Do Kwon cashing out for millions. A complaint filed by the United States Securities and Exchange Commission said Terra co-founder Do Kwon and Terraform Labs laundered more than $100 million worth of Bitcoin from the platform following its collapse…
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The US Securities and Exchange Commission (SEC) has sued Terra founder Do Kwon and his organization Terraform Labs for securities fraud. “[The SEC] today charged Singapore-based Terraform Labs PTE Ltd and Do Hyeong Kwon with orchestrating a multi-billion dollar crypto asset securities fraud involving an algorithmic stablecoin and other crypto asset securities,” the SEC wrote…
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While the exact reason for the investigation hasn’t been revealed, it has been reported that the New York regulator plans on upping its efforts to protect consumers this year. Paxos Trust Company — the New York-based stablecoin issuer behind Binance USD (BUSD) and Paxos Dollar (USDP) — is reportedly being investigated by the New York Department…
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A group of South Korean officials have traveled to Serbia in a bid to locate Do Kwon, the co-founder of Terra Terraform Labs, which developed the now-collapse Terra Luna and TerraUSD stablecoin. According to a Tuesday report by Bloomberg, a team of South Korean officials went to Serbia last week to seek help in the…
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LUNC, a token worth roughly over $1 billion on the Terra Classic protocol, is edging closer to a 17.54% move that could propel it to $0.00021. Meanwhile, the 50th largest cryptocurrency’s value increased by 6.5% in 24 hours and is trading at $0.0001775 at the time of writing. Investors are preparing for the expected outcome…
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The Mars Hub will launch an independent Cosmos application chain and issue MARS to users who hold the token during the two snapshots on Terra Classic. The original Terra lending protocol, Mars Hub, announced the launch of its independent Cosmos application chain on Jan. 31, along with the issue of MARS tokens to users who…
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Decentralized finance (defi) has continued to remain deeply ingrained in the cryptocurrency economy as the ecosystem provides users with a non-custodial way to exchange digital assets, lend cryptocurrencies, issue stablecoins, and ways to profit from arbitrage. In the lending sector of defi, a lot has changed during the last 12 months as lending applications like…
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