Since May, Do Kwon and Terra have been the crypto industry’s most popular topics. One of the major events in the cryptocurrency world was the tragic collapse of the billion-dollar business. Millions were lost by investors during a difficult period. The same has a variety of effects on the market as a whole. Recently, it was […]
LUNA
Is Terra’s Do Kwon Evading Investigation? Prosecutors Say So
Terra’s downfall is still haunting Do Kwon. The South Korean authorities are stating that Do Kwon is trying to evade a possible investigation. As UST lost its $1 peg on May 10, Terra’s currency and its algorithmic stablecoin Terra USD experienced a sharp decline. The mechanism was designed to maintain its peg to the US […]
Terra’s Do Kwon: Crypto Community “Has No Business” Knowing His Location
Terra’s founder Do Kwon took to Twitter to address some of the issues after reports began to circulate that he was on the run evading arrest from authorities. He then criticized the cryptocurrency industry, claiming that they have “no business” knowing where he is. I am not “on the run” or anything similar – for […]
Terra: The period of resurrection with LUNA’s surge
Without a question, Terra was at the epicentre of the 2022 crypto market collapse. The project was one of the most prosperous before to the catastrophe, reaching a record high of $119.18 in April. But the soaring climb paved the ground for a legendary fall. The ensuing death spiral sent investors and users into a […]
Following the Fall of LUNA, Singapore Watchdog To Lay Down Stablecoin Regulation
Following the fall of Terra, LUNA, and the entire Do Kwon ecosystem, countries are pushing regulations on crypto and stablecoins. The main financial watchdog for a city-state, the Monetary Authority of Singapore (MAS), evaluates the benefits of a regulatory framework for stablecoins. The KYC concerns that are the focus of current regulations do not take into […]
Terra Is Facing Another Class Action Lawsuit
A new class action lawsuit has been brought on TerraForm Labs, its founder Do Kwon, its director of research Nicholas Platias, and other companies. The class action complaint has been filed by Bragar Eagel & Squire PC accusing the defendants of breaking the California Common Law, the Exchange Act, the Securities Act, and the Racketeer […]
Terra Community Makes a Proposal for the Distribution Method for 0.5% Emergency LUNA Allocation
Cephii1, a Terra community member, proposes on behalf of the Terra community members. The suggestion is for a mechanism of distributing the 0.5 percent emergency LUNA allocation. According to the user, the suggestion was made on behalf of community members, validators, TFL, and others. The initiative also aims to improve the Ecosystem’s Revival Plan 2. […]
Fakesters use LUNA 2.0 airdrops to target users
Scammers are giving fresh Luna 2.0 to cryptocurrency CEOs and influencers’ addresses, according to PeckShield, a major blockchain security business, including Vitalik Buterin’s, Justin Sun’s, and the 3AC Foundation’s wallets. According to the Ethereum block explorer, the Wrapped LUNA 2.0 contract address issued millions of the new tokens and delivered them to the official addresses […]
Terra’s UST Burn Proposal Gets the Green Light
All TerraUSD (UST) tokens retained in the project’s community pool, as well as UST utilized for earlier Ethereum liquidity incentives, will be burned, according to the Terra governance system. This translates to, moreover, 1.3 billion UST, or nearly 11% of the current 11.2 billion supply, according to CoinGecko. The proposition received 99.3% of the total […]
Exchanges Show Support in Assisting LUNA’s Revival by Listing the New LUNA 2.0
For the launch of LUNA 2.0, Huobi, Binance, FTX, Bitrue, HitBTC, and Bybit cryptocurrency exchanges, have expressed interest in working with the Terra team to launch their new chain without an algorithmic stablecoin. Binance had previously halted trades after validators paused the blockchain, making trades impossible, but in response to Terra’s statement, announced in a […]