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Tag: Terra

Terra is the name of the Terraforms Labs team project and ecosystem, and their token is called LUNA.

Terraform Labs and Founder Do Kwon Found Liable for $40 Billion Fraud

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A Manhattan jury has found Singapore-based Terraform Labs and its founder, Do Kwon, liable for civil fraud charges related to their stablecoin, TerraUSD. The Securities and Exchange Commission (SEC) accused Terraform Labs and Kwon of misleading investors about the stability of TerraUSD and falsely claiming that Terraform’s blockchain was used in a popular Korean mobile payment app. The collapse of TerraUSD in 2022 resulted in investors...

Cryptocurrencies, Front page, Terra

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Crypto Market Update: November 29, 2023

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Recent News Impacting the Crypto Market Crypto products are witnessing a surge in popularity, with inflows reaching levels not seen since late 2021. Despite the absence of regulatory approval for exchange-traded funds (ETFs) tied to the spot price of Bitcoin, optimism in the market remains high. The crypto sector is on the brink of a new chapter. Binance founder Changpeng “CZ” Zhao is currently in Seattle, awaiting sentencing after...

$UST, Bitcoin, Crypto market, Cryptocurrencies, Terra

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gas burning - quema de gas

Binance announces LUNC burn, and token jumps 35%

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The price of Luna Classic (LUNC), formerly known as Terra, has risen by almost 35% after it was announced that Binance would back a proposal to destroy the project. Binance, the largest cryptocurrency exchange in the world by trade volume, announced on Monday that Terra Classic, the older version of the doomed blockchain, has a new way to burn itself. The Terra community has come up with a plan to charge a 1.2% tax on all on-chain...

$LUNA, $UST, Front page, News, Terra

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do kwon fugitive

Interpol red-lists Terra creator Do Kwon

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Do Kwon is the founder of Terraform Labs and the main person responsible for the Terra ecosystem. A week ago, the South Korean authorities filed a request to issue a red alert for Do Kwon. The request was made because Do Kwon’s stable currency UST lost parity with the dollar in May and collapsed, causing tens of thousands of investors all over the world to lose their money. Do Kwon is the subject of a “red alert,” which...

$LUNA, $UST, Front page, News, Terra

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Illustration of Do Kwon behind bars

South Korea urges Interpol to stop Terra creator from avoiding extradition

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South Korean police have requested a red alert from Interpol to prevent crypto entrepreneur Do Kwon from evading extradition, days after the Terra creator denied being “on the run” in a tweet. Kwon was the creator of the Terra/Luna cryptocurrency platform, an effort to create a system with comparable scalability to Ethereum. In the spring of 2022, however, Kwon’s attempts to create an “algorithmic stablecoin”...

$LUNA, $UST, Cryptocurrencies, Front page, Terra

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