Terraform CEO Do Kwon revealed plans to add $3 billion to UST’s Bitcoin reserve Luna Guard Foundation has already raised $2.2 billion to bolster UST’s BTC reserves. Terraform CEO Do Kwon took to Twitter to unveil plans of increasing UST’s Bitcoin reserves to $3 billion. Do Kwon, in a series...
Quick take: The Terra blockchain has been halted by its team Terra Validators have decided to stop the Terra Chain to prevent governance attacks Such attacks have become cheaper given LUNA’s ongoing price drop and inflation Over 15 billion LUNA coins have been issued today Binance, Bybit, and Bitmex have...
Summary: In a recent AMA, Binance CEO was asked whether he would consider taking over from Do Kwon at LUNA and bailing out UST. CZ responded by stating he was humbled by the request, but such a scenario was unlikely given that he is ‘pretty busy already.’ CZ also clarified...
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...
Quick takeaways: The team at Terra has clarified that the new chain that will arise from Proposal 1623 is not a hardfork. The Terra Team has described Terra 2.0 as the genesis of a new blockchain. Dapps from the old chain will not pre-exist on the new Terra (LUNA) chain....
It is reported that 26.7 billion of customer assets were forcibly liquidated during the Luna crash. Uprise is considering compensation for affected customers. Uprise previously attracted 24 billion in it’s Series C round investment, with Koran investors such as Kakao Ventures and KTB Network backing the company. This is not...
Recent court filings made by the SEC confirmed that Chicago-based Jump Trading entered a secret deal with Do Kwon and Terraform Labs to prop up TerraUSD a year before its collapse.
Terra designer blocked from leaving Korea as investigations into the $40 billion LUNA wipe-out intensify.
Summary: Larry Cermak has shared a document showing that Binance might have invested $300 million in Terra Mr. Cermak was responding to a Tweet that suggested he might have lied on his claims that Binance was a significant investor in Terra CZ had earlier refuted rumors that Binance had invested...
Lawyers representing Do Kwon have requested a New York Judge to dismiss the securities fraud lawsuit filed by the SEC. The lawyers argued that there were no securities involved in the matter.
Summary: Binance has announced that it will relist Terra (LUNA) and TerraUSD (UST) This is after the Terra blockchain was restarted and block production resumed CZ had earlier expressed concerns about the way the Terra team handled the UST depegging and inflation of LUNA The popular crypto exchange of Binance...
The prosecutor heading the probe into Do Kwon and Terraform Labs believes that Do Kwon may be handed a record 40 year prison sentence. The Terra founder could then be extradited to the US to face trial and serve a separate jail term if convicted.