The Securities and Exchange Commission (SEC) reports that Terraform Labs PTE, Ltd. and founder Do Kwon will pay a $4.5 billion penalty as they have been found guilty of a “years-long fraud.” It was previously reported that the SEC was seeking a $5.3 billion settlement…. Read More
After trying to evade law enforcement for around six months, Terraform Labs CEO Do Kwon has now been taken into police custody in Montenegro. Kwon and Terraform Labs were responsible for TerraUSD, an aspiring algorithmic stablecoin, and sister crypto Luna, which collapsed last year… Read More
Algorithmic stablecoins became the “focal point” of the crypto industry in May, following the depegging of UST from the US dollar “which triggered the LUNA bloodbath,” the team at Huobi notes. The report from Huobi pointed out that this had “a knock-on effect on other… Read More
Following the Luna de-peg and the collapse of the UST stablecoin last week, Terra co-founder Do Kwon has unveiled a proposal for what he calls “the path forward.” This included forking the Terra chain “into a new chain without the algorithmic stablecoin, with the old… Read More
The collapse of TerraUSD (UST), an attempt to create an algorithmic stablecoin, and the demise of LUNA has captured the attention of the entire crypto-sphere. Going from billions to almost nothing is a spectacular event. Inevitably there is a pile on of “I told you… Read More
Terra, the creator of the algorithmic stablecoin TerraUSD (UST) and LUNA, has halted the Terra blockchain. In a Tweet, Terra.Money stated: The Terra blockchain was officially halted at a block height of 7603700. https://lcd.terra.dev/blocks/latest Terra validators have decided to halt the Terra chain to prevent… Read More
While TerraUSD (UST) has lost more than half of its dollar-pegged stablecoin value, Binance – the issuer of its own stablecoin – has published a blog post discussing the importance of fiat-backed stablecoins. As the crypto world knows, UST is an algorithmic stablecoin designed to… Read More
TerraUSD (UST) has lost its status as a stablecoin as it is now trading at $0.40 $0.35 having dropped to as low as $0.30 in the last 24 hours. UST’s collapse is the hottest story in crypto land as it was, until recently, touted as… Read More
There has been a certain amount of panic and a large amount of discussion regarding UST (TerraUSD), an algorithmic stablecoin ostensibly pegged to the US dollar, losing its one-to-one valuation. Currently, UST is recovering trading around $0.9273 but in the past 24 hours, UST traded… Read More
The Luna Foundation Guard (LFG), a recently formed non-profit to support decentralization, economic sovereignty, and foster the growth of the Terra ecosystem, “will add AVAX to its new UST Decentralized Forex Reserve.” By diversifying the base of non-correlated assets “to major assets like BTC and… Read More
The team at digital asset firm Kraken is pleased to confirm that their platform now supports TerraUSD (UST). Clients may now add UST to their Kraken accounts by navigating to Funding, choosing the asset, and hitting Deposit. Trading is scheduled to begin on February 17,… Read More
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