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” Bitcoin fights to hold $29K as fear of regulation and Terra’s UST implosion hit crypto hard “ Bitcoin (BTC) price initially bounced from its recent low at $29,000 but the overall market sentiment after a 25% price drop in five days is still largely negative. Currently, the crypto “Fear and Greed Index,” which uses…
” Why did Terra LUNA and UST crash? | Find out on The Market Report “ Cryptocurrency investors never thought they’d have to ask whether TerraUSD (UST) or LUNA would reach $1 first. On Wednesday, that question became the talk of the cryptosphere as the Terra ecosystem imploded. As the algorithmic stablecoin UST lost its…
” Celsius Network execs deny rumors of significant losses amid market volatility “ The fallout from extreme volatility in the crypto market hasn’t significantly affected Celsius Network, according to its leadership. Seemingly in response to a now-deleted tweet from Twitter user David Belle that claimed the platform had been “completely wiped out,” Celsius CEO Alex Mashinsky…
” LUNA meltdown sparks theories and told-you-sos from crypto community “ No matter how hard your day is going, spare a thought for LUNA investors Wednesday. Do Kwon, CEO of Terraform Labs and 18th on Cointelegraph’s Top 100, has lost billions of dollars for their investors. Do Kwon’s coins came crashing down as brainchild Terra (LUNA)…
” Avalanche drops 30% on fears Terra’s LFG will dump AVAX next “ Avalanche (AVAX) is paying the price for being one of the collateral assets that maintain Terra’s native stablecoin TerraUSD’s (UST) peg with the U.S. dollar. Major AVAX dump ahead? AVAX’s price dropped about 30% to reach $32.50 on May 11, its lowest…
” Terra founder Do Kwon shares plan to save the UST stablecoin peg “ Do Kwon, CEO of Terraform Labs, will not admit defeat. After an 18-hour wait in which his coins Terra (LUNA) and TerraUSD (UST) endured a face-ripping freefall, Do Kwon has announced his “rescue plan” for the Terra community. Terra is down…
” Terra ‘rescue plan’ still at large as LUNA falls below $5, Bitcoin spikes to ‘$138K’ in UST “ Panic appeared to set in on crypto markets overnight on May 11 as Blockchain protocol Terra failed to steady its bleeding cryptoassets. Data from Cointelegraph Markets Pro and TradingView showed both the firm’s in-house token, LUNA…
” The Fed cites worries about stablecoin in its latest Financial Stability Report “ The United States Federal Reserve Board released its semiannual Financial Stability Report on Monday. The report points to volatility on commodities markets brought on by the Russian invasion of Ukraine, the spread of the Omicron variant of Covid and “higher and…
” US Treasury Secretary reaffirms need for stablecoin regulation following UST crash “ United States Secretary of the Treasury Janet Yellen called on U.S. lawmakers to develop a “consistent federal framework” on stablecoins to address risks to financial stability. In a Tuesday hearing of the Senate Banking Committee on the Financial Stability Oversight Council Annual…
” Binance suspends LUNA and UST withdrawals citing network congestion “ As the crypto community still tries to decipher Terra’s ongoing pegging-depegging fiasco in relation to its stablecoin offering Terra USD (UST), major crypto exchange Binance announced the suspension of withdrawals for LUNA and UST until further notice on Tuesday. The market value of UST,…