Do Kwon has come up with a new coin. But the new LUNA appears to be following the old story. Amidst the broader wobbling market, LUNA has been trading near its all-time lows. While Kwon is in the middle of multiple active lawsuits and investigations from the US and South Korea, some still believe that...Read More
According to South Korean media Money Today, the US Securities and Exchange Commission is expanding the scope of its investigations into the Mirror Protocol to add LUNA. SEC Vs. Terra In the latest development in legal tensions, the SEC has sought LUNA-related documents from Terraform Labs as well. In a parallel investigation launched last month,...Read More
Without divulging any names, a South Korean media agency reported that the Seoul Southern District Prosecutor’s Office’s Joint Financial and Securities Crime Investigation Team has banned a key Terra designer from leaving the country. The team has been investigating Terraform Labs, its employees, and founding members after the stunning collapse of TerraUSD (UST) and its...Read More
In a lawsuit filled with promises from Do Kwon, the Luna Foundation Guard, and other Terra-related entities, an Illinois-based plaintiff has alleged that all parties involved misled investors about whether all Terra tokens (including UST and LUNA) are actually securities, among other allegations. The lawsuit, filed on Friday in US District Court in Northern California...Read More
Founder and CEO at Terra – Do Kwon – posted for the first time in the past week following a massive market downturn where major cryptocurrencies are all down double-digits. Do Kwon is the man behind the Terra Ecosystem – once a multi-billion dollar project that was run to $0 because of an algorithmic exploit...Read More
In the latest example of global authorities going after Terraform Labs, the organization’s co-founder, Do Kwon, will reportedly be investigated for tax evasion in South Korea. According to local reports, prosecutors carried out a search and seizure from the Seoul Regional Tax Office and were able to secure data from a special investigation by the...Read More
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
The five leading cryptocurrency exchanges in South Korea – Upbit, Bithumb, Coinone, Korbit, and Gopax – will reportedly set up a joint consultative body that will oversee the local digital asset market, scheduled to go live during the second half of 2022. Trying to Prevent Another Accident Like Terra A local media revealed that Korea’s...Read More
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
Bitcoin and Ethereum prices show significant losses this Monday, with BTC trading at $23.7k and ETH dropping nearly 16% to $1.2k. Current cryptocurrency prices are bringing the market back to January 2021, with the global market cap finally dropping below the $1 trillion level, currently at $965 billion. Panic at the Market There’s evident panic...Read More
A new class-action lawsuit filed against the US branch of the largest cryptocurrency exchange alleges the company of misleading investors and illegally allowing the sale of unregistered securities – LUNA and UST. Filed in the Northern District of California on Monday by law firms Dontzin Nagy & Fleissig and Roche Freedman, the lawsuit reads that...Read More
The Bitcoin and Ethereum price continues to face bearish pressure as the global cryptocurrency market shows a 4.55% decline in the past 24 hours. The BTC price is down over 4%, currently trading at $27.6k, and ETH is down 6.87%, currently trading at $1.4k. Surprisingly, Terra 2.0 (LUNA) price managed to gain 4% today as...Read More
The founder and CEO of Terra, Do Kwon, has refuted recent claims that he has cashed out a whopping $2.7 billion before the fiasco that led to UST losing peg and LUNA crashing to $0. Well-known anonymous Twitter account FatManTerra made another massive allegation yesterday, arguing that Do Kwon, the founder, and CEO of Terra, cashed out...Read More
This weekend is rough for the global crypto market as it’s nearing a year low. Bitcoin struggles to hold support, dipping below $19k, and Ethereum is facing significant bearish pressure as the ETH price is down 10%, currently trading at $1,500. As Terra 2.0 (LUNA) is considered an altcoin, it’s no surprise that LUNA is...Read More
A recent court ruling has granted an application by the Securities and Exchange Commission (SEC) to order Terraform Labs and its co-founder Do Kwon to comply with the agency’s investigative subpoenas. Court Rules in Favor of the SEC The United State Court of Appeals for the Second Circuit made the ruling on Wednesday (June 8,...Read More
After setting his Twitter profile to private four days ago, Terra Luna’s Founder, Do Kwon, once again opened up his Twitter account to the public, publishing a series of posts. Do Kwon Opens Up In a series of tweets published today, June 9th, Do Kwon elaborated on several issues regarding Terra 2.0. Starting with a...Read More
As Bitcoin and Ethereum struggle to hold support, Terra 2.0 (LUNA) also faces significant bearish pressure from traders and investors. The Terra 2.0 (LUNA) price declined by over 20% in the past 24 hours and down over 58% the past week, currently trading at $2.83 and falling as traders remain impatient and fear is taking...Read More
TerraUSD and its sister token LUNA Classic’s (LUNA) dramatic collapse have pushed the South Korean policymakers to call for swift crypto regulations. Call for Draft Regulation According to a new report, top officials have now asked cryptocurrency exchanges to devise guidelines with respect to the listing and delisting of digital tokens to safeguard the investors...Read More
Ever since Terra Luna’s founder, Do Kown, unveiled a new “Terra Ecosystem Revival Plan 2” that’s supposed to bring back the glory days of Terra Luna, the asset, however, has been a free fall ever since. After a relatively small gain of about 77% immediately after launch, it seems investors are now losing faith in...Read More
Bitcoin and Ethereum are again showing bearish momentum as BTC and ETH have lost 5% in the past 24 hours. Terra 2.0 (LUNA) is also down over 14%, currently trading at $4.31, dipping below $1 billion market capitalization with a current valuation of $912 million. Major Stocks Plummet, Causing BTC and ETH Dips As the...Read More
Bitcoin and Ethereum show bullish momentum this Monday as BTC registers a 5% gain and ETH pumps by over 6% in the past 24 hours. Terra 2.0 (LUNA) also holds above $1 billion market capitalization, currently trading at $5.08, up over 5% in the past 24 hours. Terra 2.0 (LUNA) Ecosystem Continues to Expand The...Read More
The crash of Luna and TerraUSDT and the launch of Luna 2.0 have unleashed a wave of taxation issues for investors in India. While the Terraform Labs team has worked out a recovery plan and launched Luna 2.0 to compensate for the losses, concerns are piling up. Gift Tax on Luna 2.0 Airdrop In a...Read More
After trading sideways at the $6 level since June, Terra 2.0 (LUNA) price dropped significantly today by over 20%, to a current level of $4.86. The recent drop is likely due to Do Kwon closing his Twitter so that only approved followers can see his Tweets. It’s unclear why LUNA’s founder closed down his Twitter,...Read More
Jump Crypto – the crypto dedicated arm of Jump Trading – has released a report analyzing the early stages TerraUSD (UST)’s de-pegging event. The company, which was heavily involved with Terra’s blockchain, found that a small set of whales were responsible for triggering UST’s initial price pressure. Low Liquidity on Curve According to the report...Read More
The Parliament of Japan reportedly passed legislation that will put stablecoins under enhanced scrutiny. The initiative aims to give local investors further protection when dealing with such assets. Japan Sees Stablecoins as Digital Money According to a recent Bloomberg report, the Japanese authorities issued new guidelines on stablecoins. The lawmakers granted the assets a legal...Read More
With Bitcoin facing bearish momentum once again, falling below the $30k level, Terra 2.0 (LUNA) continues to trade sideways at the $6 level, and Terra Classic (LUNC) loses yet another zero, currently trading at $0.00009454 with a market capitalization of $617 million and falling. Let’s look at any relevant news regarding LUNA and LUNC and...Read More
Arthur Hayes, the co-founder and former CEO of leading crypto derivatives platform BitMEX, said Terra’s failure was a byproduct of the macroeconomic environment as the Feds raised rates and tightened up its balance sheet. He also expressed conviction on the broader market in the medium and long term, reiterating that Ethereum could still reach $10,000...Read More
With Bitcoin and Ethereum struggling to hold current support levels, Terra Luna continues to trade sideways, down 10% in the past 24 hours but hovering above the $6 support level. More applications are starting to emerge on the new chain with the latest Terraswap decentralized exchange going live on Terra 2.0, enabling users to provide...Read More
Jesse Powell – CEO of Kraken – explained on Friday why his exchange decided to list Terra 2.0 despite the collapse of the original chain. Many in the crypto community showed skepticism of the move, given Terra’s loss of credibility over the past month. Listing Isn’t Endorsement When questioned about the listing, Powell explained that...Read More
Cryptocurrency markets are slowing down their bullish price action, which started on Monday. While Bitcoin and Ethereum stabilize, BTC is holding firm above $31k, and ETH is approaching the $2k level. Unfortunately, Terra Luna’s price suffered significantly today as it dropped by over 20%, currently trading at $7.28 after briefly peaking above $10 yesterday. Binance...Read More
