22 Jun 2022

‘Decentralization Proves To Be an Illusion,’ BIS Says

The recent Terra LUNA collapse and Celsius’ restrictions on withdrawals have sparked fears of a crisis in crypto lending. Economists at the Bank of International Settlements (BIS) said while on-chain collateral in DeFi lending overcomes asymmetric information, it doesn’t make the space immune from boom-bust episodes, compounded by liquidation spirals. Cryptocurrency

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21 Jun 2022

Crypto Workers Behind Terra and Luna Are Facing a Flight Ban in South Korea

The ongoing crypto crash has brought a lot of investors back down to earth. In the case of current and former Terraform Labs employees, it’s keeping them literally grounded. Dozens of past and present staff from the company behind two notorious crypto coins, terraUSD and Luna, have been barred from leaving

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14 Jun 2022

Binance US Sued Over Promoting, Selling UST and LUNA

A class-action lawsuit was filed today against Binance.US, alleging that the cryptocurrency exchange misled consumers about the safety of Terra’s stablecoin UST, and native token LUNA. The suit also claims Binance violated federal law both by selling UST and LUNA, cryptocurrencies that the plaintiffs claim are securities that should have been

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25 May 2022

Do Kwon’s plan to rebirth the Terra blockchain gets approved

The governance vote on Do Kwon’s proposal to relaunch the Terra blockchain and create LUNA 2.0 tokens has passed. This will result in the creation of a new blockchain that will airdrop tokens proportionally to those affected, following the sudden collapse of the TerraUSD (UST) algorithmic stablecoin. In total, 65.5% of

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11 May 2022

As Luna holders watch the token slide, many won’t be able to cash out for weeks

After the stablecoin TerraUSD (UST) lost its peg to the US dollar this week, many investors in the related token Luna (LUNA) have been left unable to sell. Stuck on the sidelines are those who own Luna tokens and have them staked. These holders are watching the value of their tokens

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