South Korean prosecutors apply to revoke Do Kwon and other Terra employees’ passports
Singapore, where Terra co-founder Do Kwon is currently staying, does not have an extradition treaty with South Korea. Go to Source Powered by WPeMatico
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Apollo DAO to close vaults on Terra Classic
The protocol’s TVL has plunged from around $200 million in September 2021 to less than $125K. Go to Source Powered by WPeMatico
CoinShares reports $21.7M loss tied to Terra implosion
The firm’s book-making took a huge hit after being exposed to the TerraUSD collapse. Go to Source Powered by WPeMatico
Investors shifting toward lower-risk crypto yields: Block Earner GM
The Australian fintech company has seen a surge in investors wanting a “less risky version” of double-digit crypto returns. Go to Source Powered by WPeMatico
Finder’s Bitcoin Prediction Report Expects BTC to Bottom at $13,676 and End the Year at $25,473
According to the latest crypto prediction report published by the product comparison platform finder.com, 77% of 53 fintech specialists polled in the report say cryptocurrency markets are officially in a “crypto winter.” The poll further explains that only 29% of the report’s participants believe the bear market will end in 2022. While bitcoin is expected … Read more
Troubled Crypto Hedge Fund 3AC Reprimanded by Singapore’s Monetary Authority, Liquidators Eye Su Zhu’s Properties
On Wednesday, it was reported that the crypto hedge fund Three Arrows Capital (3AC) was liquidated by a British Virgin Islands court and following the alleged liquidation, the Monetary Authority of Singapore (MAS) has reprimanded 3AC for misleading regulators. Furthermore, reports claim that liquidators in Singapore are attempting to seize the properties owned by 3AC … Read more
FTX CEO Sam Bankman-Fried Warns More Crypto Company Insolvencies Are Coming
In a recent interview, Sam Bankman-Fried, the founder of the popular exchange FTX, warned that some crypto exchanges are “secretly insolvent” and may soon fail. Bankman-Fried’s FTX and Alameda Research have already helped Blockfi and Voyager Digital as the 30-year-old billionaire says sometimes you have to do “what it takes to sort of stabilize things … Read more
Bitcoin, Ethereum Price Down Over 30% This Week, Terra Classic (LUNC) Overtakes Terra 2.0 (LUNA) in Market Cap
Even with the Fed raising interest rates by unprecedented amounts, last week’s Consumer Price Index (CPI) numbers showed a further 6% gain. Record gas prices continue to drive inflation at an incredible rate, causing uncertainty in global markets. Since the Bitcoin and Ethereum prices continue to follow stock market actions, we’re seeing further losses as … Read more
Shady WLUNA Contract Bridge Spells Trouble for the Terra Luna Community
Wrapped Luna Classic (WLUNA) is an Ethereum token designed to represent Terra (LUNA) on the blockchain. It’s not LUNA but a distinct ERC-20 token created to track the value of LUNA. Wrapped Luna Classic was intended to allow LUNA holders to trade, hold, and engage in Ethereum-based decentralized finance (DeFi) dApps. 1 LUNA can be … Read more
Bitcoin Price Continues Losses as Metaverse Crypto Coins Show Significant Gains
As expected, this week, the stock market opened in a bear market, with the Dow losing 876 points, S&P falling into bear territory, and the Nasdaq selloff continuing. Bitcoin and Ethereum saw significant bearish momentum on Monday, which continued through Tuesday, with the Bitcoin price losing nearly 25% this week and the Ethereum price down … Read more
