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

Do Kwon Advises Against Burning LUNA Days After Sharing a Burn Address

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Earlier this month, the crypto industry suffered a huge setback after Terra’s algorithmic stablecoin UST depegged from the US dollar and caused LUNA to lose 99.9% of its value. Shortly after the crash, Terraform Labs’ CEO Do Kwon proposed a revival plan for the Terra ecosystem. It centered on forking the current chain, abandoning UST, … Read more

Delphi Digital Explains How the LUNA-UST Fiasco Harmed the Firm

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The cataclysmic fall of the Terra ecosystem last week wiped nearly $40 billion off the cryptocurrency market, leaving UST and LUNA investors (both retail and investment firms) in severe losses. As those affected by the crash are seeking ways to either move on or take legal action against Terra’s Do Kwon, leading crypto research and … Read more

The Terra (LUNA) Collapse: 4 Lessons To Be Learned (Opinion)

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As the stormy waters recede from this month’s crypto market bloodbath, one blockchain network has been washed ashore dead: Terra. The network’s co-founder, Do Kwon, has forfeited any attempt at restoring the current chain to its former glory. He’s now advocating to hard fork and start anew with a different cryptocurrency – a highly questionable … Read more

Nox Bitcoin To Refund UST At $1 To Their Customers

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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

Terraform Labs Has Paid in Full its Taxes in South Korea, Says Do Kwon

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A lot has been said about Do Kwon, his cryptocurrency project, and the failure of the two native digital assets in the past two weeks. One of them included owning $78 million in taxes to South Korea, but Kwon refuted this, saying his firm had paid its dues. CryptoPotato summarized the events that transpired two … Read more

Cosmos (ATOM) Skyrockets 12% Following Bitcoin And Ethereum Recovery

cosmos-(atom)-skyrockets-12%-following-bitcoin-and-ethereum-recovery

The crypto market is showing signs of recovery, and it seems Cosmos has also been pulled in the same direction with an increase of 12% in the last 24 hours. Cosmos (ATOM), the 27th biggest cryptocurrency, has a total market cap of $3.2 billion. ATOM, the token that fuels the Cosmos blockchain network, has been … Read more

Terra Under Heat After Amending Proposal Mid-Vote

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Currently, the market is experiencing one of the most painful weeks this year, and it was exacerbated by Terra’s crash. While Terra’s ecosystem boss, Do Kwon, has been putting forward revival plans, he also amended one. But more importantly – he did so while the proposal 1623 was being voted on. Titled ” Rebirth Terra … Read more

BitMEX Mastermind Arthur Hayes Pleads Guilty, Avoids Jail Time

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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

Avalanche Founder Compares LUNA’s Collapse to Mt. Gox

avalanche-founder-compares-luna’s-collapse-to-mt.-gox

The collapse of Terra’s ecosystem – more specifically, the depeg of UST and the subsequent crash of LUNA – are undoubtedly crypto’s hottest story in 2022 and perhaps even beyond. Speaking on the matter was the founder of Avalanche – Emin Gun Sirer. He noted how Terra’s previous growth affected other blockchains and what its … Read more