Terra

Stablecoins have dominated the headlines in the world of cryptocurrency this week with the crash of several coins. The downward moves and negative connotations building for stablecoins could spell trouble for a SPAC deal that involves a leading stablecoin company. What Happened: A SPAC deal ...

Galaxy Digital Holdings Ltd (OTC: BRPHF) CEO Mike Novogratz has written a letter to shareholders of the company and the cryptocurrency community at large touching on Terra (CRYPTO: LUNA) and TerraUSD (CRYPTO: UST) fiasco that rocked the market recently. What Happened: Novogratz, a Bitcoin...

South Korea has revived the ‘Yeouido Grim Reaper’ financial crimes task force to investigate the collapse of Terra’s (CRYPTO: LUNA) stablecoin TerraUSD (CRYPTO: UST). What Happened: According to a report from local news publication SBS, the...

Terra (CRYPTO: LUNA) founder Do Kwon has reportedly been ordered to pay 100 billion won or $78 million in taxes by South Korea’s National Tax Service. What Happened: According to a report from local news outlet Naver, the country’s tax authorities found...

The collapse of cryptocurrency Terra has been one of the most talked-about topics in the crypto world over the past few weeks. A famous hedge fund manager weighed in with his take on the situation and offered up a harsh comparison. What Happened: Blockchain protocol Terra has a token called Terra (...

Major crypto exchange Coinbase Global Inc (NASDAQ: COIN) plans to slow hiring in the wake of rapidly declining cryptocurrency prices. What Happened: In an announcement on Tuesday, Coinbase said it would be reprioritizing its hiring needs after the current market downturn. “We’ve made an...

A vast majority of the Terra (CRYPTO: LUNA) community is opposed to forking the existing blockchain. What Happened: According to a snapshot of the Revival Plan V2 preliminary vote, 92% of the 5,410 voters were against forming a new blockchain – a suggested fix put forward by Terra...

South Korean lawmakers have reportedly summoned Terra (CRYPTO: LUNA) founder Do Kwon to appear before Congress and testify on the subject of TerraUSD’s (CRYPTO: UST) collapse. What Happened: According to a report from local publication Newspim,  Rep. Yoon Chang-hyeon of the People’...

A scammer is pretending to be Binance on YouTube and running a Bitcoin (CRYPTO: BTC) and Ethreum (CRYPTO: ETH) giveaway scam. What Happened: A link included in the YouTube video pitches the scam as the “Biggest Luna Foundation Giveaway” by Terra (LUNA) co-creator Do Kwon. ...

Analysts at Morgan Stanley have said that non fungible tokens (NFTs) could be the next area of concern in the cryptocurrency space following the collapse of Terra’s (CRYPTO: LUNA) stablecoin TerraUSD (CRYPTO: UST). What Happened: In a research note...

The CEO of one of the largest cryptocurrency platforms shared his take on the collapse of Terra (CRYPTO: LUNA) and the stablecoin TerraUSD (CRYPTO: UST) associated with it. What Happened: In a Twitter Inc (NYSE: TWTR) thread, FTX co-founder and CEO Sam Bankman-Fried shared that “not all bad...

Justin Sun, the founder of the Tron (CRYPTO: TRX) blockchain, laughed off claims that he was behind an organized attack that took down Terra (CRYPTO: LUNA) and its stablecoin TerraUSD (CRYPTO: UST). What Happened: In an interview with CoinDesk, Sun denied any involvement in UST...

The governance token of MakerDAO and Maker Protocol, Maker (MKR), emerged as the top gainer last week. The two protocols, based on Ethereum (CRYPTO: ETH), allow for the issuance and management of the DAI (DAI) stablecoin. Top Gainer of Week Ending May 16, 2022 (Data via CoinMarketCap)...

On-chain data shows that Terra’s (CRYPTO: LUNA) $3.5 billion Bitcoin (CRYPTO: BTC) reserves have been depleted entirely. What Happened: A report from blockchain analytics firm Elliptic followed the movement of Terra’s BTC reserve after the collapse of its stablecoin TerraUSD (CRYPTO:...

In a recent Twitter post, Terra (CRYPTO: LUNA) founder Do Kwon has said that he is “heartbroken” about his creations losing all of their value this week. Founder of the Terraform Labs, Kwon, said he spent the last several days calling various community members about the tokens...