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A Curious Coincidence – Major Terra Backers Break Silence on Same Day
19.5.2022
Several major backers of Terra (LUNA) and its failed algorithmic stablecoin terraUSD (UST) spoke out about last week’s dramatic events this Wednesday, after staying largely silent since the collapse happened 10 days ago. On the same day, Do Kwon’s plan for a new Terra blockchain was put...
Tether in the Spotlight After USD 9B Worth of Redemptions
19.5.2022
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...
South Korean LUNA Buying Skyrockets, Token Trading at Huge Premium on Domestic Exchanges
19.5.2022
While some furious South Korean crypto investors are readying multiple lawsuits for Do Kwon and the masterminds of the troubled terra (LUNA) protocol, others in the country are snapping up LUNA tokens at rock-bottom prices – even though the coin is currently being delisted from most major...
From Silence to Humbling Hell - Major Terra Backers Keep Low Profile as the Small Guy Is 'the Biggest Loser'
18.5.2022
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”...
Legal Storm Brewing for Terra's Do Kwon & Co as ‘Hundreds’ of Investors Ready Complaints
18.5.2022
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...
Shiba Inu Army, Look Away: Survey Claims SHIB Will Be Worthless by 2030
18.5.2022
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....
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Do Kwon’s Plan for New Terra Blockchain Becomes ‘Final’
18.5.2022
A plan to revive the Terra (LUNA) ecosystem by creating a new blockchain without an algorithmic stablecoin has been designated as “final” by Terraform Labs CEO and co-founder Do Kwon.
By creating a new blockchain with its own native token, Do Kwon’s revival plan would airdrop the new token...
Smart Contract Platform Chain’s XCN Token Pumps and Dumps
18.5.2022
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...
Fantom Stablecoin DEI Remains Below Dollar Peg For Third Day, No Updates from the Team
18.5.2022
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...
Bitcoin and Ethereum Hover Above Key Levels, EGLD and MIOTA Accelerate
17.5.2022
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....
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South Korean Financial Regulators Begin Terra Probes, Politician Calls for Kwon to Face Parliamentary Hearing
17.5.2022
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...
Do Kwon's New Terra Revival Plan Fights for Support as Trust Challenge Remains
17.5.2022
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...
Crypto Listing and Delisting Announcements: Week 20
16.5.2022
Here is our weekly collection of digital asset listing and delisting, trading pair-related announcements by crypto exchanges that we found last week and today.
Have we missed something? Do you have information about new listings and/or delistings? Let us know here....
Terra's Do Kwon Liquidated the South Korean Arm of Terraform Before LUNA & UST Crisis
16.5.2022
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....
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Luna Foundation Says Nearly Entire Bitcoin Stack Spent, Promises Compensation to UST Users
16.5.2022
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...
Vitalik Buterin & Binance CEO Chime In as Do Kwon Proposes Another Terra 'Revival' Plan
16.5.2022
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...
After Terra's Collapse, Cryptoverse Reflects on ‘Ponzi-like Assets’, Role of VCs, and 'Ignorant' Crypto People
13.5.2022
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...
Coinbase Sued Over Collapsed Stablecoin, but It's Not UST (Yet)
13.5.2022
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....
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Terra Blockchain Halted Again as Validators Search for ‘Plan to Reconstitute It’
13.5.2022
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...
It's Getting Personal - 'Broke' LUNA Investor Comes to Do Kwon’s House, Plans to Surrender to Police
13.5.2022
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...