Tag: ust

Sep 21 2022

U.S. House Bill aims to ban UST-Like Stablecoins for two years

Sep 21 2022 Published at Coinscreed under tags  bill news stablecoins terra us

Although its full impact and consequences are yet to be determined; a recent draft of a U.S. House bill proposes a two-year ban on stablecoins like Terra's UST stablecoin. The Federal Reserve, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corp., and the SEC are just a few of the federal […] The post...

Sep 18 2022

Do Kwon, Who’s Wanted By The Cops, Says He’s Not On The Run

Sep 18 2022 Published at Bitcoinist.com under tags  bitcoin btcusd crypto crypto news do kwon

As of Sunday, Do Kwon, the disgraced co-founder of the Terra ecosystem which collapsed dramatically in May and for whom the Singapore Police Force had issued an arrest warrant, is no longer in the country. Last Monday, Kwon and five others were named in an arrest order issued by South Korean prosecutors. He is largely responsible for creating two cryptocurrencies whose stunning demise...

Aug 14 2022

“I bet big and I think I lost” Do Kwon Speaks On Terra’s crash

In a yet to be fully aired interview by Coinage Media, hosted by Zack Guzman, called "Inside Crypto's Largest Collapse", the founder of beleaguered Terra Form labs...

Jul 21 2022

New Reason For The Market Crash Revealed: Tesla Sold 75% Of Its Bitcoin In Q2

It’s true, Tesla already sold almost a billion dollars in BTC and the market took it like a champ. Of course, the price fell below the previous all-time high for the first time in bitcoin’s history, but there are clear reasons for that. The Tesla dump wasn’t among those reasons until yesterday night, when the company’s quarterly update for Q2 hit the Internet....

Jul 20 2022

Terraform Labs Investigation Intensifies: Seven Crypto Exchanges Linked To Collapse Raided

Jul 20 2022 Published at Bitcoinist.com under tags  crypto news do kwon luna south korea terra

The South Korean cryptocurrency ecosystem is still experiencing issues because of the Terraform Labs probe. According to reports, the nation's authorities advanced the probe on Wednesday with their most recent actions. The investigation into the fraud claims against the Terraform Labs management is still ongoing. Terraform Probe Heats Up As part of their ongoing inquiries into the failure of Terraform Labs' iconic Terra...

Jul 15 2022

Terra’s Plot Thickens: Prosecutors Uncover Secret Subsidiary Used As Fund Channel

The ongoing inquiry into Terra's crash has reportedly taken a new turn as authorities have connected a new crypto entity called "Flexe" to Terra and Do Kwon, according local Korean news outlet KBS news. Terra's Secret Subsidiary Belongs To Do Kwon The Terra debacle doesn't appear to be over. 1Prosecutors in South Korea allegedly discovered a Terraform Labs subsidiary, according to...

Terra (LUNA) Saga Is Not Over Yet, Korean Prosecutors Discovers Another Domestic Subsidiary Of Terra “Flexi”

Jul 15 2022 Published at Coingape under tags  do kwon luna news terra terraform labs

According to Korean local news site KBS news, the ongoing investigation for Terra's crash has taken another turn as investigators have now linked a new crypto entity "Flexi" to Terra and Do Kwon. Details of the corporation were not made public Since the crash of TERRA/LUNA in April, investigation is carried out earnestly and it...

Jun 28 2022

Did Hacktivist Group Anonymous Target Terra’s Do Kwon? Or Is It An Affinity Scam?

A new Anonymous video surfaced and it points its finger at the infamous Do Kwon. The Terra/ UST/ LUNA collapse is the gift that keeps on giving, the story just refuses to die. And, as it usually happens with everything Terra- related, things might not be as it seems. Anyone can be Anonymous, it’s a decentralized and open hacktivist group. That being said, the...

Jun 27 2022

Hacktivist group Anonymous sets sights on Do Kwon after LUNA meltdown

Jun 27 2022 Published at CryptoSlate under tags  anonymous do kwon people terra ust

Hacktivist group Anonymous said it will ensure that Terra founder Do Kwon is brought to justice in a newly released YouTube video. Anonymous listed all of Do Kwon's alleged crimes, including taking $80 million monthly from the Terra...

Jun 23 2022

Tether To Roll Out Token Pegged To The British Pound Next Month

Tether Operations, the issuer of the world's biggest dollar-pegged stablecoin, will launch a new token backed by the British Pound Sterling this coming July, The development follows Tether's recent roll-out of MXNT, a crypto asset pegged to the Mexican peso. According to a corporate statement released on Thursday, the stablecoin (GBPT) would first be supported on the Ethereum network. The stablecoin will have...

Jun 20 2022

Breaking: Korean Financial Authority Imposes Departure Ban On Terra Developers

Jun 20 2022 Published at Coingape under tags  do kwon lfg luna coin news terra

According to Korean news site JTBC, the Seoul Joint Financial and Securities Crime Investigation Team has placed travel embargoes on developers in the Terra team. This is as a result of the ongoing investigation on Terra by Korean Authorities. TFL's members were not informed about the ban After the crash of LUNA and UST, authorities...

South Korea Blocks Terra’s Employees From Leaving The Country Amid Investigation

As investigations into Terra's LUNA and UST death spiral continue, prosecutors in South Korea have imposed travel limits on Terra developers and former devs, according to JTBC News. South Korea Places Travel Ban On Terraform's Developer The travel ban was announced by the Financial and Securities Crime Joint Investigation Team to keep persons involved in the case from leaving the country. The move...

Jun 15 2022

Stablecoin Total Supply Decreases for First Time in History

Jun 15 2022 Published at Crypto Briefing under tags  analysis stablecoin ust

Stablecoin redemptions have reached a historic high, with more than $10 billion redeemed across major issuers and about $3 billion retired from MakerDAO. Supply Shrinks By At Least $13 billion...

Jun 13 2022

Terra investors file a class action lawsuit against Binance.US

A group of investors has filed a class-action lawsuit against Binance.US and its CEO for allegedly failing to comply with federal and state securities laws. According to the filing, Binance.US falsely advertised UST, the algorithmic stablecoin tied to Terra's...

Jun 10 2022

Terra’s Do Kwon May Face Charges In The U.S. As Money Laundering Accusations Emerge

Terra CEO Do Kwon has been in hot water ever since the collapse of the network last month. After the UST lost its peg and the price of LUNA (Now LUNC) crashed below zero, there had been calls for investigations into the cause of the crash seeing that thousands of investors had lost billions of dollars. The most recent allegation against the CEO...

Jun 09 2022

Terra’s Do Kwon says there “are lots of misinformation” as reports emerge that SEC is investigating UST

Jun 09 2022 Published at CryptoSlate under tags  do kwon legal sec terra ust

In a recently released statement, the Founder and Chief Executive Officer of Terraform Labs, Do Kwon, said that the level of misinformation in public surrounding the network is high. 1/ While most of our efforts had...

Terra’s Anchor protocol users vote to halt ‘earning and borrowing’

Indications have emerged that users of the largest DeFi platform on the Terra network, Anchor Protocol, have voted in favor of a...

Jun 08 2022

NYDIG Paper Claims Algorithmic Stablecoins Are Impossible And DeFi Too Risky

In “On Impossible Things Before Breakfast,” NYDIG uses the Terra/ LUNA collapse as a case study. The paper aims to prove that the algorithmic stablecoin concept is flawed in nature. It also takes aim at the current state of the DeFi stack and...

Jun 03 2022

What Terra’s Collapse Brought For Stablecoins In Japan, New Law Passed

Jun 03 2022 Published at Bitcoinist.com under tags  crypto news terra terrausd ust

The collapse of the Terra (LUNA) ecosystem continues to ripple across the crypto industry. This cryptocurrency and its algorithmic stablecoin UST lost over 99% of its value in less than a week, leaving investors with billions in losses. Related Reading | Elon Musk Has ‘Super Bad Feeling’ About The...

Jun 02 2022

Hindsight 20/20: The Winners Of The Terra (LUNA) Collapse

Jun 02 2022 Published at Bitcoinist.com under tags  luna luna crash luna holders lunc terra

The Terra (LUNA) collapse may be almost a month old at this point but its impacts remain fresh in the mind of investors. Millions of users on the decentralized finance (DeFi) network had lost billions of dollars when UST had suddenly lost its peg, triggering a rise in the supply of LUNA, which meant more losses spilling into those who held the native...

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