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While the idea of creating an algorithmic stablecoin seems promising, the collapse of the Terra ecosystem has shaken confidence in the DeFi industry and the cryptocurrency market in general. This was announced
Bill Ackman, billionaire CEO and founder of Pershing Square Capital Management, said Terra’s collapse was like the collapse of a financial pyramid. When I read about the ‘algorithm’ @terra_money it sounds just
LKB & Partners, one of South Korea’s leading law firms, is preparing to file a lawsuit against Terraform Labs CEO Do Kwon. This was reported by local media citing a company statement.
The collapse of the Terra ecosystem can be compared to the collapse of Mt.Gox, the attack on the DAO, the bursting of the ICO bubble and the collapse of the crypto market
Three members of Terraform Labs legal department resigned following the collapse of the algorithmic stablecoin TerraUSD (UST) and the LUNA token. The Block writes about this, citing a source. According to the
Yun Chang-hyun, spokesperson for the South Korean People’s Power Party, has called for parliamentary sessions on the recent collapse of the Terra ecosystem. This is reported by local media. According to him,
Terraform Labs co-founder Do Kwon suggested hard forking Terra with a new network and an airdrop. He described it as “a chance to revive the project from the ashes”. 2/ It was
Changpeng Zhao, CEO of Binance bitcoin exchange, talked about investing in the failed Terra project, revealing the amount the company holds in its UST stablecoin. 2/ Binance received 15,000,000 LUNA ($1.6 billion
The nonprofit Luna Foundation Guard (LFG) has revealed information about the status of the reserve fund after it tried to save the algorithmic stablecoin TerraUSD (UST). 8/ As of now, the remaining
The recovery plan for funds lost due to the collapse of the Terra project should prioritize small holdings. This view was voiced by Ethereum co-founder Vitalik Buterin. Strongly support this. An influencer,
