South Korean police request exchanges freeze LFG related funds

south-korean-police-request-exchanges-freeze-lfg-related-funds

Police in South Korea have contacted the country’s leading exchanges to freeze any funds linked to the embattled Luna Foundation Guard. Crypto exchanges in South Korea have been issued notices from police requesting the sequestering of funds related to the Luna Foundation Guard.  On May 23rd, 2022, Korean authorities sent a request to the top … Read more

LUNA Records 100% Growth In A Single Day. More Upside Coming?

luna-records-100%-growth-in-a-single-day.-more-upside-coming?

LUNA has been on the decline since the crash of the UST rocked the crypto space earlier this month. What had been one of the most successful cryptocurrencies in the market had quickly turned sour. The digital asset had fallen from trading around the $100 level to trading a couple of zeros below $1, causing … Read more

Nox Bitcoin To Refund UST At $1 To Their Customers

nox-bitcoin-to-refund-ust-at-$1-to-their-customers

Nox Bitcoin, a cryptocurrency exchange in Brazil, has taken the unprecedented step of using its own funds to refund customers for their TerraUSD coins at the full rate. Following local media’s report on May 20, the Nox Bitcoin exchange has refunded all UST holders at a $1 rate with Tether’s USDT. The report stated that … Read more

BitMEX Mastermind Arthur Hayes Pleads Guilty, Avoids Jail Time

bitmex-mastermind-arthur-hayes-pleads-guilty,-avoids-jail-time

The picture is getting clearer for BitMEX co-founder Arthur Hayes. The judge called what he did “a willful violation of the Bank Secrecy Act,” but he still got two years probation. Hayes will serve the first six months of that sentence in home confinement, but that’s it. The banker and entrepreneur will not set foot … Read more

Investors Continue To Trade LUNA Despite Massive Crash

investors-continue-to-trade-luna-despite-massive-crash

Investors continue to trade the LUNA token despite its enormous fall, seeing the coin lose 99% of its value from $62 on May 9 down to less than a cent by May 14. However, on May 20, LUNA remains the most trending cryptocurrency searched on CoinMarketCap. With a market cap of $918 million, LUNA is … Read more

Altcoin prices briefly rebounded, but derivatives metrics predict worsening conditions

altcoin-prices-briefly-rebounded,-but-derivatives-metrics-predict-worsening-conditions

Declining demand for Tether and negative futures premiums for altcoins reflect a growing disinterest from crypto investors. On May 12, the total crypto market capitalization reached its lowest close in 10 months and the metric continues to test the $1.23 trillion support level. However, the following seven days were reasonably calm while Bitcoin (BTC) gained … Read more

Cosmos price rebounds 45% in one week despite Terra’s debacle — what’s next for ATOM?

cosmos-price-rebounds-45%-in-one-week-despite-terra’s-debacle-—-what’s-next-for-atom?

ATOM’s ascending triangle setup opens up the possibility for another major crash by June 2022. Cosmos (ATOM) emerges as the biggest gainer among the top cryptocurrencies this May 20, brushing aside the fears about its association with Terra (LUNA), an algorithmic stablecoin project whose market valuation fell by 99% last week. Cosmos TVL down from … Read more

Court documents reveal Do Kwon dissolved Terraform Labs Korea days before LUNA crash

court-documents-reveal-do-kwon-dissolved-terraform-labs-korea-days-before-luna-crash

A revelatory discovery of legal documents could provide greater context to the catalyst of the infamous LUNA and UST price crash The dramatic story of the Terra (LUNA) crash — referred to by some as the Lehman Brothers of crypto — has taken yet another remarkable turn as legal documents reveal the liquidation of two South … Read more

Tether CTO: Terra wasn’t a rug pull, it was a poorly designed ‘castle of cards’

tether-cto:-terra-wasn’t-a-rug-pull,-it-was-a-poorly-designed-‘castle-of-cards’

“It was clear to me, it was clear to many that I know that it was a bad idea,” said Tether and Bitfinex CTO Paolo Ardoino. Tether and Bitfinex CTO Paolo Ardoino said that the Terra (LUNA) project was not intended to be a rug pull, but was simply “poorly designed.” Speaking on the Terra … Read more

Here’s why Terra’s snowball effect could send Avalanche (AVAX) price to $15

here’s-why-terra’s-snowball-effect-could-send-avalanche-(avax)-price-to-$15

The collateral damage of Terra’s collapse could continue to impact Avalanche price, especially considering that the Luna Foundation Guard holds 1.97 million AVAX tokens. Avalanche (AVAX) has emerged as one of the worst-performing cryptocurrencies among the top-ranking tokens in the last 24 hours, partially due to fears connected to Terra (LUNA) and it’s a near-dead … Read more