The Crypto Loss Claims Portal has been established by Terraform Labs for the creditors who want to submit their claims regarding the Terra ecosystem breakdown. Submissions to the portal will begin on 31st March 2025 and continue up to 30th April 2025 at 23:59 pm Eastern Time. Portal Access and Requirements The portal is availed […]
UST
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 […]
Did Delphi Digital predict UST collapse?
Delphi Digital, crypto-focused research and investment firm has published a post-mortem on the losses incurred by the collapse of TerraUSD (UST) algorithmic stablecoin last week, concluding that “something like this was always probable.” Delphi wrote late Wednesday on its blog, “We understood the risks of the algorithmic model upfront and sought to be transparent about them […]
Terra’s co-founder is devastated but refuses to back down
After pitching a revival plan, Terra’s creator Do Kwon took to Twitter saying he is devastated by the recent turn of events. TerraUSD [UST], a stablecoin broke its peg to the dollar earlier this week and fail to recover. Its sister coin Luna too fell from grace this week and is trading at $0.0003974 at […]
Terra experiences a single day crumple
Terra (LUNA) is in a headlong fall, having lost about 98% in less than 24 hours, causing panic and anxiety in the market as well as among investors. According to CoinMarketCap data, LUNA fell below $1 and touched $0.08384 from a 24-hour high of $32.71. The market capitalization of LUNA has likewise plummeted by 74%. The […]
Luna Foundation Is Battling as UST Crashes Again
The Luna Foundation Guard (LFG) has been fighting to save its embattled UST stablecoin, which has yet again fallen out of favor with the dollar. If the enormous crypto market crash wasn’t horrible enough, the collapse of the world’s third-largest stablecoin ecosystem has just added to the flames. The Luna Foundation Guard, a Singapore-based non-profit […]
Janet Yellen: TerraUSD’s Depegging Underscores The Need For A Regulatory Framework
Treasury Secretary Janet Yellen wasted no time saying how the recent Terra’USD breaking its dollar peg exposed the threat to financial stability and the urgent need for a regulatory framework to offset the risks, in a Senate Banking Committee hearing on 10 May. “A stablecoin known as TerraUSD experienced a run and declined in value,” […]
Binance Freezes LUNA, UST Withdrawals Amid Market Bloodbath
Binance has temporarily put on hold withdrawals for LUNA and UST tokens on the Terra [LUNA] network on 10 May 2022 in the early hours citing a high volume of pending withdrawal transactions. According to the notice published on the website, this was caused by network lags and high congestion. Once it stabilizes and the volume of pending withdrawals […]