Tag: terra ust crash

Jun 09 2022

Breaking: Terra, Do Kwon Under SEC Investigation, But There’s A Catch

Terra founder Do Kwon and Terraform Labs (TFL) were ordered by a court on Wednesday to comply with a Securities and Exchange Commission (SEC) probe. But the probe is not in relation to the blockchain's...

Just-In: Terra Co Founder Refutes Fraud Accusations Over LUNA Crash

Jun 09 2022 Published at Coingape under tags  news terra luna crash terra ust crash

South Korean government and authorities have launched an in depth investigation over Terraform Labs after Terra's historic collapse. In the meantime, the blockchain firm’s co founder has refuted allegations of...

Jun 08 2022

Just-In: Solana Raises $100 Mln Fund To Court Terra Refugees

The Solana Foundation said on Wednesday that it has raised a $100 million fund to support crypto firms in South Korea. The fund is backed by the Solana treasury, as well as the...

Jun 03 2022

Terra Whales Dumped Onto Retail During Crash, Report Shows

Several large Terra holders exited their positions, while retail holders kept accumulating early into the crash, a report shows. Jump Capital- a major investor in Terra-...

May 31 2022

South Korea To Launch Digital Asset Watchdog In Wake Of Terra Crash

South Korea is planning to introduce a digital asset watchdog by as soon as June, according to local media reports. The country will set up a digital asset committee to serve as a...

May 26 2022

S.Korea’s Largest Exchange To Support Terra Airdrop, But There’s A Catch

Upbit, South Korea's largest crypto exchange, said on Thursday it will support the upcoming Terra 2.0 airdrop. The airdrop will consist of new LUNA tokens, and is part of the blockchain's recently-approved revival plan to create a new chain. Token holders and developers on the old LUNA chain will be the primary recipients of the The post S.Korea's Largest Exchange To Support Terra...

Terra 2.0 To Abandon These Key Wallets Along With UST

Terra's revival plan will abandon the UST stablecoin entirely from the new blockchain, which is set to launch this week. But the new blockchain, Terra 2.0, will also exclude three wallets that played a...

May 25 2022

Breaking: Binance “Working Closely” With Terra On Recovery Plan

Binance said on Wednesday it is working closely with Terra over the blockchain's recently-approved revival plan. The world's largest crypto exchange said in a tweet it aims to help users impacted by the Terra crash. The move comes just shortly after the Terra community voted in favor of the recovery proposal. 65.5% of holders voted...

Breaking: Terra 2.0 Plan Officially Approved, Testnet Goes Live

Terra's widely watched revival plan has now officially passed, with 65.5% of holders in approval of the move. Under the proposal, the Terra 2.0 blockchain will now be officially launched on May 27, beginning with an airdrop of new LUNA tokens to holders on the old chain. Terra validator Orbital Command also said in a...

Do Kwon’s Terra 2.0 Plan Rejected By S.Korean Crypto Exchanges

Terra founder Do Kwon is reportedly facing difficulty in listing Terra 2.0 on South Korea's top exchanges. Kwon reportedly approached the five top South Korean exchanges- Upbit, Coinone, Cobit, Bithumb and Gopax- over listing the new LUNA token. The token is set to be issued under a widely-approved revival plan, which will launch a new...

Voting On New Terra Chain To End Soon, Where Does The Tally Stand?

Community voting on Terra's proposal to create a new blockchain is set to end later in the day, with a majority of LUNA holders in favor of the fork. With six hours left to vote, over 67% of holders have voted yes. Just over 12% of holders have opposed the vote, while 20% have abstained...

May 24 2022

Is Terra’s Singapore Office A “Paper Company?”

Terra's main office in Singapore may be just a paper firm, according to reports from a South Korean media outlet. The report contradicts statements from Terra founder Do Kwon that Terraform Labs (TFL), the lead developer of Terra, has a sizeable presence in Singapore. While the company is incorporated in Singapore, a bulk of its...

May 23 2022

Terra Recovery Plan Mired With Technical Issues, Here’s Why

Terra's recovery plan to stabilize the blockchain and recover some value appears to be mired with technical hiccups. Roughly two proposals associated with the recovery plan have failed to execute since last week, due to issues with the smart contracts behind them. The proposals sought to burn excess UST, and also restore inter-blockchain communication between...

May 21 2022

Do Kwon Says Terra Collecting Snapshot Data For LUNA Airdrop

Terra founder Do Kwon said the blockchain is in the process of collecting data from major exchanges for the upcoming LUNA airdrop. Kwon said that because of the large amount of data to be collected, the process is taking "some time." The move comes as voting shows that a majority of LUNA holders are in...

May 20 2022

Is Do Kwon’s Terra Recovery Plan Part Of A “Kill Switch” Protocol?

A key part of Terra's recovery plan is the removal of Do Kwon's Terraform Labs and making the blockchain completely community-owned. But this aspect of the plan may have been premediated. An old interview of Kwon, which resurfaced recently, shows the Terra founder talking about a "kill switch" for Terraform Labs (TFL). The Terra recovery...

May 19 2022

Terra’s UST Causes A 20% Dump In DeFi Token Curve (CRV), Here’s How

May 19 2022 Published at Coingape under tags  curve (crv) defi news news terra ust crash

The native token of DeFi giant Curve (CRV) slumped 20% on Thursday after the platform proposed removing support for UST. CRV plummeted to as low as $0.9- its lowest level in 16 months. It is now trading at $1.10, having recovered mildly. The token's losses were triggered just after Curve proposed removing incentives for maintaining...

Terra Crash Causes Ripple Effect Among Crypto Startups, Here’s How

Crypto startup StableGains, which offered customers access to DeFi yields, may be in trouble after putting a bulk of its funds into Terra. The firm offered depositors a 15% yield by locking their funds into Terra's Anchor Protocol. This was done by converting customer funds into UST. But after UST crashed, the firm is now...

LUNA, UST Volatility Spikes As Voting On Terra Fork Begins

After losing most of their value in the past two weeks, Terra's native tokens- UST and LUNA- are experiencing large price swings. The volatility comes just after Terra opened community voting on its recovery proposal- which proposes to hard fork the blockchain into a new version. The new version will discard the UST stablecoin, and...

May 18 2022

Breaking: Terra Founder Do Kwon Faces Lawsuit In South Korea

May 18 2022 Published at Coingape under tags  altcoin news news south korea terra ust crash

A group of South Korean investors appears to have filed a court case against Terra founder Do Kwon over the blockchain's crash. Local media reports suggest that several LUNA and UST holders have decided to hold Kwon accountable for the recent price collapse. They are being represented by law firm LKB & Partners, whose employees...

Trader Who Predicted Terra Crash Expects This Token To Follow

May 18 2022 Published at Coingape under tags  news p2e games terra ust crash

Popular crypto trader @AlgodTrading (Algod), who famously predicted Terra's fall from grace, said they now expect STEPN (GMT) to follow suit. Algod was a vocal critic of Terra, and had repeatedly called out the UST/LUNA mechanism for being unsustainable. They had also placed a bet with Terra founder Do Kwon on LUNA prices staying over...

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