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” Court documents reveal Do Kwon dissolved Terraform Labs Korea days before LUNA crash “ The dramatic story of the Terra (LUNA) crash — referred to by some as the Lehman Brothers of crypto — has taken yet another remarkable turn as legal documents reveal the liquidation of two South Korean offices and the dissolution of…
” Terra fallout: Stablegains lawsuit, Hashed loses billions, Finder wrong and more… “ Fallout from the collapse of the Terra ecosystem continues to unfold with the United States-based yield generation app Stablegains facing potential legal action over its losses from the event. Users believe Stablegain has allegedly lost up to $44 million worth of deposited…
” Tether CTO: Terra wasn’t a rug pull, it was a poorly designed ‘castle of cards’ “ Tether and Bitfinex CTO Paolo Ardoino said that the Terra (LUNA) project was not intended to be a rug pull, but was simply “poorly designed.” Speaking on the Terra ecosystem’s market-shattering crash, Ardoino likened its algorithmic stablecoin TerraUSD…
” Here’s why Terra’s snowball effect could send Avalanche (AVAX) price to $15 “ Avalanche (AVAX) has emerged as one of the worst-performing cryptocurrencies among the top-ranking tokens in the last 24 hours, partially due to fears connected to Terra (LUNA) and it’s a near-dead UST algorithmic stablecoin project. Avalanche price dips amid Terra’s tax…
” BNB Chain offers another lifeline to Terra ecosystem projects “ Binance will welcome migration and offer support to projects from the Terra (LUNA) ecosystem following this month’s unraveling of the decentralized finance (DeFi) platform and its algorithmic stablecoin. BNB Chain has committed to providing investment and support to projects that are considering migrating from…
” Terra crash not a risk to the broader crypto ecosystem, says Huobi Global CEO “ As the fall of Terra (LUNA) and TerraUSD (UST) may have a noticeable short-term impact on the decision-making of both retail and institutional investors, it doesn’t pose a risk to the larger crypto ecosystem, according to Du Jun, CEO…
” South Korean watchdog reportedly fines Terraform Labs $78M for tax evasion “ Terraform Labs and co-founder Do Kwon continue to attract more legal trouble in the wake of the collapse of the Terra ecosystem. After early reports of a possible congressional hearing and an investigation from Grim Reapers financial crimes unit, the crypto firm has now…
” Novogratz says LUNA tattoo is a constant reminder investing ‘requires humility’ “ Mike Novogratz, the billionaire founder of crypto asset management firm Galaxy Digital, has told his followers that his LUNA-inspired tattoo will serve as a reminder to remain humble in the world of venture capital investing. Following the fallout of the recent LUNA…
” ‘Grim Reapers’ financial crimes unit revived to investigate Terra collapse “ Legal troubles are mounting for the co-founder of failed Terra crypto project Do Kwon as the South Korean government revives the dormant “Grim Reapers of Yeoui-do” to investigate Terra’s fall. The special investigative and prosecutorial team consists of members from various financial regulators,…
” Was Terra’s UST cataclysm the canary in the algorithmic stablecoin coal mine? “ The past week has not been an easy one. After the collapse of the third-largest stablecoin (UST) and what used to be the second-largest blockchain after Ethereum (Terra), the depeg contagion seems to be spreading wider. While UST has completely depegged…