Avalanche buys back $53M in AVAX tokens from Terra’s LFG
The AVAX tokens were purchased for $100 million a month before the infamous Terra Luna collapse. Go to Source
USTC
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Stablecoin dominance slides as market cap falls to near 2-year lows: CCData
After 16 consecutive months of decline, the stablecoin market dominance has fallen to 10.3% of the total crypto market capitalization. Go to Source Powered by WPeMatico
Terra Classic Advocates Propose Plan to Re-Establish USTC’s Peg With US Dollar, Token’s Value Surges by Over 9%
Almost 12 months back, terrausd (UST), an algorithmic stablecoin, suffered a detachment from the U.S. dollar, causing the Terra ecosystem to crumble shortly thereafter. At present, supporters of the Terra Classic blockchain community are deliberating on a plan to revive the ecosystem by re-establishing the once-stable token’s peg with the U.S. dollar. In response to … Read more
FBI, NY authorities probes collapse of TerraUSD stablecoin: Report
The controversial founder of Terraform Labs, Do Kwon is at the center of the investigation, despite believed to be hiding out in Serbia. Go to Source Powered by WPeMatico
Stablecoin issuer Paxos reportedly probed by New York regulators
While the exact reason for the investigation hasn’t been revealed, it has been reported that the New York regulator plans on upping its efforts to protect consumers this year. Go to Source Powered by WPeMatico
South Korean officials traveled to Serbia to find Do Kwon
South Korean authorities have previously requested cooperation from the Serbian government to bring Kwon back. Go to Source Powered by WPeMatico
Terra co-founder Do Kwon hiding out in Serbia, says authorities
South Korean authorities have requested cooperation from the Serbian government in order to bring Kwon back to face charges in South Korea. Go to Source Powered by WPeMatico
FTX’s Bankman-Fried to face market manipulation probe, Do Kwon chimes in
As part of a broader inquiry into FTX’s collapse, federal prosecutors are looking at the role that FTX and Alameda may have played in the fall of Terra LUNA. Go to Source Powered by WPeMatico
Terra Supporters Hope to ‘Defy the Odds’ by Pumping the Now-Defunct Stablecoin USTC Back to $1 Parity
It’s been six months since Terra’s algorithmic stablecoin UST (now USTC) depegged from the U.S. dollar and the price has remained depegged from the greenback since May 9, 2022. Currently, the former stablecoin is exchanging hands for $0.02 per unit, but a number of Terra Classic supporters believe there’s a chance USTC can regain its … Read more
Celsius had ‘insufficient’ accounting and operational controls, says examiner
The examiner revealed that Celsius’ digital assets in its customer’s Custody wallets account officially became underfunded on Jun. 11. Go to Source Powered by WPeMatico
