Avalanche buys back $53M of AVAX tokens from Terra’s LFG
The AVAX tokens were purchased for $100 million a month before the infamous Terra Luna collapse. This post was originally published on this site
Avalanche buys back $53M of AVAX tokens from Terra’s LFG
The AVAX tokens were purchased for $100 million a month before the infamous Terra Luna collapse. This post was originally published on this site
Terra Classic Advocates Propose Plan to Re-Establish USTC’s Peg With US Dollar, Token’s Value Surges by Over 9%
Almost 12 months back, terrausd (UST), an algorithmic stablecoin, suffered a detachment from the U.S. dollar, causing the Terra ecosystem to crumble shortly thereafter. At present, supporters of the Terra Classic blockchain community are deliberating on a plan to revive the ecosystem by re-establishing the once-stable token’s peg with the U.S. dollar. In response to […]
Stablecoin issuer Paxos reportedly probed by New York regulators
While the exact reason for the investigation hasn’t been revealed, it has been reported that the New York regulator plans on upping its efforts to protect consumers this year.This post was originally published on this site
South Korean officials traveled to Serbia to find Do Kwon
The South Korean prosecutor’s office reportedly admitted that the reports one of its team visited Serbia “aren’t false.”This post was originally published on this site
FTX’s Bankman-Fried to face market manipulation probe, Do Kwon chimes in
As part of a broader inquiry into FTX’s collapse, federal prosecutors are looking at the role that FTX and Alameda may have played in the fall of Terra LUNA. This post was originally published on this site
Terra Supporters Hope to ‘Defy the Odds’ by Pumping the Now-Defunct Stablecoin USTC Back to $1 Parity
It’s been six months since Terra’s algorithmic stablecoin UST (now USTC) depegged from the U.S. dollar and the price has remained depegged from the greenback since May 9, 2022. Currently, the former stablecoin is exchanging hands for $0.02 per unit, but a number of Terra Classic supporters believe there’s a chance USTC can regain its […]
Celsius had ‘insufficient’ accounting and operational controls, says examiner
The examiner revealed that Celsius’ digital assets in its customer’s Custody wallets account officially became underfunded on Jun. 11.This post was originally published on this site
While Its Lost 94% in Value Since the Collapse, Terra’s Fractured Ecosystem Is Still Worth $2.5 Billion
It’s been five months since the Terra ecosystem collapsed as tens of billions of dollars in value disappeared from the crypto economy in a matter of days after May 7. Terra’s new Phoenix blockchain managed to restart the ecosystem to some degree and since the end of June, Terra’s total value locked (TVL) in decentralized […]
Terraform Labs claims case against Do Kwon is ‘highly politicized:’ WSJ
A spokesperson for the company behind Terra said it believes prosecutors heeled to public pressure and expanded the definition of a security after its associated cryptocurrencies collapsed.This post was originally published on this site