Terra CEO Neglects The Accusations Of Illegal Profits

According to officials, Shin Hyun Sung allegedly made about $105 million from the unauthorized sale of Terra/LUNA coins just several days ahead of Terra’s demise. Co-founder of Terra, Hyun-sung, is asked for assistance by South Korean prosecutors.  According to reports, Terra/Luna trading platform co-creator Shin Hyun-sung, likewise recognized as D. Shin, has been called to … Read more

BoE Proposes Stablecoin Regulation Following Terra Crash

The UK authorities have released a detailed report of how it intends to reduce the financial stability problems related to financial settlements with cryptos. The authorities saw the need for this regulation following the UST stablecoin at the beginning of this month. Before its collapse, the UST was among the top three stablecoins globally. UK … Read more

Celsius Network Partly Caused UST’s Collapse: Nansen

UST’s demise sent tremors through the cryptocurrency world. And according to researcher Nansen, they can’t trace it back to a single perpetrator. Rather, they discovered the trades of a limited number of traders, one of whom was the Celsius Network. There were expectations for UST to preserve its USD-peg. By using algorithms and trade rewards. … Read more

Amidst De-Pegging Issues, Tether Allays Fears Of A Possible USDT Crash

The largest stablecoin lost its USD peg last week, which resulted in many holders converting their USDT holdings to other stablecoins or fiat. The USDT de-pegging also created intense selling pressure in the wider crypto market. Tether Holdings Ease Fears Of Usdt Holders A part of the latest quarterly report by Tether holdings was dedicated … Read more

Waves USDN Stablecoin Slips From the Dollars Peg

93.68% of the Curve pool is made up of USDN, according to crypto writer Colin Wu’s article. Similar ratios were detected in UST’s Curve pools, indicating that the peg is below strain and that more deposits may be required to maintain equilibrium. The USDN price, which is expected to remain stable at around $1, dipped … Read more

How Polygon (MATIC) Benefits from Terra’s $30B DeFi Loss

Terra’s recent collapse forced it to eliminate several applications. For instance, the blockchains hat to remove Anchor, which was the chain’s leading DeFi network at some point. Meanwhile, the protocol is worth pretty nothing for now. As these protocols proved valuable use cases, different chains, including Polygon, are chasing the platforms like vultures. Polygon Eyes … Read more

Five Validators Want To Keep Doing Their Job On The Terra Network

On Monday, Terraform Labs CEO, Do Kwon, requested (via Twitter) that developers willing to support and commit to the development of the forked terra chain should indicate interest. 8/ We believe this token distribution, in addition to best efforts by LFG to make $UST holders whole, best solves for the varying interests and time preferences … Read more

Bitcoin (BTC) Stays Beneath $30K amid Regulatory Concerns

The broad market and Bitcoin see early pressure with increased regulatory scrutiny threatening market players’ appetite following roller-coaster events over the past week. Sunday sessions saw BTC on a 3rd successive day of gains, ending the week with an 8% loss. Bitcoin witnessed a 7th sequential week of red. While the space recovered from the … Read more