Korean police seek freeze on Luna Foundation Guard assets: KBS
Police in South Korea have reportedly asked multiple exchanges to freeze assets belonging to Luna Foundation Guard.
stablecoins
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Lawsuits aimed at recouping UST/Luna losses test uncharted waters
Legal trouble is brewing for Terraform Labs following last week’s collapse of TerraUSD. Do unhappy investors have a case?
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UK financial regulator advises against rush to add crypto markets, Financial Times says
The UK chancellor revealed plans in April to regulate stablecoins and issue an NFT as part of a bid to position the UK as a crypto hub.
Tether reduces commercial paper holdings to improve quality of reserves
Tether cut its commercial paper holdings by 17% in the first quarter of 2022.
South Korea revives 'Grim Reaper' financial crimes unit to investigate Terra's collapse
Teraform Labs CEO Do Kwon is also facing fines for alleged tax evasion, according to local media reports.
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Do Kwon puts his Terra revival plan to the vote
Terraform Labs CEO Do Kwon has put his Terra ecosystem revival plan to the vote among Luna holders.
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Major Korean law firm to sue Do Kwon after UST collapse, local media report
LKB & Partners, one of the top law firms in Korea, has reportedly decided to sue Terraform Labs CEO Do Kwon after UST's sudden collapse.
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Terraform Labs’ legal team resigns after UST collapse
The in-house legal team at Terraform Labs resigned shortly after the collapse of Terra’s algorithmic stablecoin.
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Algorithmic stablecoins need payments adoption to succeed, Goldman argues
The bank says stablecoins provide value for investors in digital assets and wider adoption could see algorithmic stablecoins survive in the long-run.
Terra community seems dead set against Do Kwon’s fork proposal
According to an online poll, 90% of the community disagrees with Terraform Labs CEO Do Kwon’s path forward.
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South Korean politician calls for Do Kwon to attend hearing on TerraUSD's collapse
Yun Chang-Hyun of South Korea's People Power Party has reportedly called for a hearing on TerraUSD after the stablecoin's sudden collapse.
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Do Kwon wants to fork the Terra blockchain as part of revival plan
The fork, proposed today on a Terra discussion forum, would create a new Terra chain and the original would become 'Terra Classic.'
DeFi lender left with $35 million bad debt after quoting depegged stablecoins at $1
The DeFi platform Scream has racked up a significant amount of bad debt after hardcoding the price of depegged stablecoins to $1.
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Luna Foundation Guard depleted its $3 billion reserves to try to save UST, it reveals
LFG said it would look to compensate users for losses suffered due to the breakdown of its algorithmic stablecoin.
Central African bank regulator reminds member states of crypto ban, Reuters reports
The reminder came after a chaotic week for crypto when the linked meltdown of the algorithmic stablecoin UST and Terra's native Luna asset resulted in big losses for many.
Terra Dapp Expo canceled following chaotic week for Terra network
"The decision was not made lightly and is crushing news for everyone involved,” the expo organizers said on Twitter.
Do Kwon says he is 'heartbroken' in new statement, claims no UST or LUNA sold during crisis
Terraform Labs co-founder and CEO Do Kwon broke his social media silence early Friday evening with a trio of tweets about the collapse of Terra's LUNA token and associated stablecoin, UST.
Terra network halt leaves LUNA-based ETPs unable to trade
VanEck, Valour and 21Shares have been forced to halt their LUNA-based exchange-traded products (ETPs) as the Terra Network remains halted.
Do Kwon pitches revival plan for Terra blockchain, with distributions to LUNA and UST holders
Do Kwon, the co-founder and CEO of Terraform Labs, pitched a revival plan proposal on Friday following the collapse of the algorithmic stablecoin UST and its related Terra-based asset, Luna.
Over $1.2 billion in bitcoin reserves remains unaccounted for by Luna Foundation Guard
Amid Terra's collapse, over $1.2 billion in bitcoin reserves remains unaccounted for by Luna Foundation Guard.
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