TerraClassic USD (USTC) has soared by nearly 40%. The coin is valued at $0.059 at the time of publishing, but still far from its $1 peg. The fully diluted market cap of USTC is at $561 million, with a 24-hour trading volume of $355 million. A possible reason behind the...
Summary: Terra chief Do Kwon says he doesn’t trade crypto and none of his funds were frozen by South Korean prosecutors. Authorities confiscated some of Kwon’s crypto holdings worth $39.6 million, CoinDesk reported on Wednesday citing local Korean media. Previous reports also claimed that investigators froze 3,313 Bitcoin on KuCoin...
Binance has finished its first burn of Terra Classic (LUNC), burning about $1.86 million in USDT equivalent from trading fees collected from spot and margin trading pairs. Binance first announced that it would burn the trading fees on September 26, and the next announcement will take place on October 10....
A spokesperson for Terraform Labs said they would not reveal the location of co-founder Do Kwon, according to a Wall Street Journal report. The company has cited “physical security risks” as the reason behind not wanting to disclose Kwon’s location. Interpol has issued a red notice for Do Kwon, who...
Luna Foundation Guard has denied that it has moved any cryptocurrencies linked to Terra or Do Kwon. South Korean prosecutors have asked OKX and KuCoin to freeze over 3,300 BTC linked to Kwon. Meanwhile, the location of Kwon is unknown. The Luna Foundation Guard has denied all allegations that it...
Summary: Last week, the Luna Foundation Guard reportedly transferred around $69 million worth of Bitcoin. CryptoQuant spotted the transactions shortly after South Korean prosecutors issued an arrest warrant for Terra CEO Do Kwon, CoinDesk Korea reported on Tuesday. CryptoQuant analysis showed that the LFG created a wallet on Binance and...
Binance announces a burn mechanism to burn all trading fees on the Terra Classic spot and margin trading pairs. The first batch will be calculated from September 21 to October 1. Changpeng Zhao said that the exchange wants to be fair to all users. Binance has announced the details of...
A Bloomberg report citing South Korean prosecutors assert that Do Kwon might be evading the investigation launched against him The Terra founder is not in Singapore as presumed earlier, raising questions on whether Do Kwon is allegedly on a run to evade legal probes initiated against him. South Korean prosecutors...
Terraform Labs has been sued again, this time over allegations of racketeering. The plaintiff Matthew Albright and lawyers conducted an investigation by reviewing several of Terraform Lab’s public statements. The company is facing other lawsuits and investigations. Terraform Labs is facing yet another lawsuit, this time over alleged racketeering. Lawyers...
Summary: Early LUNA investor Hashed lost $3 billion in the Terra collapse. The crypto venture capital company confirmed the news on Wednesday. CEO Simon Seojoon Kim told Bloomberg that the VC firm bought some 30 million LUNA tokens in Terra’s early days. The coins were worth over $3.6 billion after...
