Holders of these crypto-assets are now seeking compensation for their losses as a result of regulatory actions following the collapse of Terra’s LUNA and its UST stablecoin. Jeffrey Lockhart filed a class-action lawsuit against Binance.US and its CEO, Brian Shroder, on June 13th, on behalf of himself and all other “similarly situated” claimants. The claimants[…]
Proposition for Terra hard fork to save the ecosystem
Do Kwon, co-founder of the ailing Terra Luna cryptocurrency, proposed a revised strategy to revive the ecosystem on Monday, after a combination of substantial market volatility and inherent protocol design problems wiped out the vast majority of the blockchain’s market cap. According to Kwon, Terraform Labs will provide a new governance proposal to split the[…]
Buterin says Terra should prioritise protecting the smallholders over the whales
Vitalik Buterin has asked for redress for the average UST smallholder who was enticed by crypto influencers’ promises of high stablecoin yields. Vitalik Buterin, the co-founder of Ethereum, believes that any proposed payment strategy for the ailing Terra project should prioritize smallholders. As widely known, the Terra ecosystem experienced a death spiral around May 9,[…]
A call for a ‘completely new chain’ to replace Terra
The operator of a major validator node on Terra is dissatisfied with the events that led to the chain’s demise and hopes that a new blockchain will be built to replace it. As the dust settles following the Terra ecosystem breakdown and the community debates what to do next, the CEO of a validator runner[…]
Terra is now the second-largest corporate Bitcoin holder
Terra’s commitment to stocking its coffers with Bitcoin has been reinforced yet again with a $1.5 billion(R 24bn) purchase. This is the result of the project’s vow to purchase more than $10 billion(R 162bn) in BTC to serve as a reserve for its stablecoin, UST. More importantly, this strengthens the foundation’s position among firms that[…]
Luna Foundation Guard boosts $1.5B(R24.1 bn) in BTC to its reserve
The Luna Foundation Guard has raised $1.5 billion( R24.1 bn) in bitcoin to boost its reserves of US Terra, its most popular stablecoin. Three Arrows Capital and Genesis Trading assisted the company in acquiring 37,863 BTC through over-the-counter swaps. Meeting its $10 million(R160m) goal The total amount raised, $500 million (R8bn), was obtained through a[…]
