Reports show that South Korean authorities have initiated an unrestricted investigation into the Terra meltdown. The authorities would investigate the LUNA-UST crash and Terra founder and CEO Do Kwon. Reports from local news firm JTBC noted that the investigations aim to discover if Keon manipulated the prices of UST and LUNA to cause the assets’ […]
After several accusations of not being transparent in its dealings, the Luna Foundation Guard (LFG) has provided a detailed explanation of the expenditure of assets under its custody. LFG is the organization responsible for securing the one dollar-peg of TerraUSD (UST), the algorithm-backed Stablecoin of the Terra ecosystem. The organization has acquired over 80,000 BTC, […]
The official Terra Twitter account tweeted yesterday that the network blockchain had been halted as the team scrambled for solutions to their predicament. The Twitter handle noted: “The Terra blockchain was officially halted at a block height of 7603700. Terra validators have decided to halt the Terra chain to prevent governance attacks following severe $LUNA […]
Stablecoins have become the talking point on the lips of most of Washington. This comes after TerraUSD (UST) posted a debilitating crash below its $1 peg, worsening the already bearish sentiment in the cryptocurrency market. That said, US lawmakers have called for emergency regulation of Stablecoins. Yesterday, US Treasury Secretary Janet Yellen used UST as […]
Terra USD (UST) has become one of the most talked-about Stablecoins in the market today because of the jaw-dropping 20% APY (annual percentage yield) it promises. UST essentially promises significantly more returns on your assets than most hedge funds and banks. If it sounds too good to be true, it is probably because it is. […]
