In wake of Terra collapse, South Korea plans new crypto oversight committee: Report The ecosystem’s rise and fall has had major consequences all around the world, but there’s no doubt that South Korea, the birthplace of its’ creator, was the most concerned country of them all. Amid signs that Terraform Labs co-founder Do Kwon was … Read more
Finance Redefined: Uniswap breaches $1T volume, WEF 2022 discussion on Terra, and more The decentralized finance (DeFi) ecosystem continues to struggle with the ongoing market volatility and after-effects of the ecosystem collapse. Over the past week, major DeFi protocols showed signs of increased trading activity, with breaching the $1 trillion trading volume mark. Terra remained … Read more
Exchanges show initial support to Terra revival by listing new LUNA token Crypto trading platforms show initial signs of support for the revival of the collapsed network by listing Terra’s brand new token, also named LUNA. The HitBTC exchange took to Twitter (NYSE:) on Wednesday to announce that Terra’s new chain token Luna will be … Read more
Binance promoted terraUSD as a “safe” investment just weeks before the stablecoin and its counterpart luna collapsed in a $40bn wipeout that shook the crypto industry. The world’s biggest crypto exchange advertised on April 6 an investment scheme in which clients lend out their terra to earn a yield of almost 20 per cent as … Read more
Finance Redefined: Lifeline for Terra projects, proposed Terra hard fork and more The past week in the decentralized finance (DeFi) ecosystem was dominated by ‘s collapse and its aftermath on various ecosystems it was connected. Now BNB chain has come to the rescue of several stranded projects on Terra by offering financial and technical assistance. … Read more
Do Kwon, a trash-talking entrepreneur from South Korea, called the cryptocurrency he created in 2018 “my greatest invention.” In countless tweets and interviews, he trumpeted the world-changing potential of the currency, Luna, rallying a band of investors and supporters he proudly referred to as “Lunatics.” Kwon’s company, Terraform Labs, raised more than $200 million from … Read more
Breadcrumb Trail Links FP Finance Cryptocurrency ‘The only direction from here is down — absent a miracle’ Author of the article: Bloomberg News Olga Kharif The value of Terra’s main cryptocurrency, Luna, and the related TerraUSD stablecoin collapsed following a wave of selling pressure. Photo by Terraform Labs Article content The crypto world has been … Read more
It’s the third day since TerraUSD, an algorithmic stablecoin designed to trade 1 to 1 against U.S. dollars, fell off its peg for an extended period of time. TerraUSD USTUSD, -3.18%, or UST, the 11th largest cryptocurrency by market capitalization, dropped to as low as 23 cents on the dollar on Wednesday, before it rebounded … Read more
Don’t miss CoinDesk’s Consensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. Good morning. Here’s what’s happening: Prices: Bitcoin mounts a small Sunday comeback. Insights: Crypto companies may face more scrutiny in Singapore. Technician’s take: BTC is on track for its first consecutive seven-week decline. Catch … Read more
(Bloomberg) — Speculation that the collapse of one of the biggest experiments in decentralized finance could bring about the death of crypto appears to have been overblown. If Terra’s implosion had happened after a few more months of growth, the resultant market impact might have created a DeFi version of 2008 — instead, high-profile algorithmic … Read more