Algorand and MakerX Commit 1M Algo to Migrate Terra Users to Algorand

In a surprise move, the Algorand Foundation has shown commitment to helping those impacted by the Terra collapse, offering a place where developers and projects can continue to grow and innovate. Algorand (Algo) is one of the most advanced layer-one networks in the blockchain industry, focused on sustainably expanding blockchain utility. Algorand was founded by The post Algorand and MakerX Commit 1M Algo to Migrate Terra Users to Algorand appeared first on Coin Bureau.

Timeline of Algorand, Terra-luna-v2

Tron has become the third-largest network by total value locked (TVL) in DeFi protocols a month after launching its algorithmic stablecoin, USSD. The post USDD is fueling Tron's DeFi TVL rise, draws comparison with Terra's UST appeared first on CryptoSlate.

In response to criticism on Twitter, Kraken CEO Jesse Powell is defending his exchange's decision to list the new Terra 2.0 (LUNA) crypto asset. Kraken listed the new LUNA on Saturday with the altcoin being airdropped to holders of the previous LUNA, now Luna Classic (LUNC), following its collapse in early May after the Terra The post Kraken CEO Jesse Powell Defends Listing of New Terra (LUNA) After 50% Crash in Just a Few Days appeared first on The Daily Hodl.

As a direct response to what it has dubbed the “terra (LUNA) incident”, The South Korean government is taking steps to launch a new regulatory body to police the crypto sector, and could fast-track its creation. The body, to be named the Digital Assets Committee, will be launched “as early as next month”, reported by...

Binance CEO “CZ” has asked his investigation team to look into allegations by Terra insider FatMan against Terraform Labs founder Do Kwon and Terra. Binance's CEO had always opposed the idea behind UST algorithmic stablecoin and Do Kwon's plan for revival of UST and LUNA tokens.

A week after South Korea's Financial Services Commission (FSC) called for a global alliance to work together to scrutinize cryptocurrencies, the country said it plans to set up regulatory policies for local crypto exchanges. South Korean Crypto Regulatory Plans  According to a local news report, South Korean authorities are planning to regulate crypto trading platforms in a bid to properly scrutinize digital assets and improve consumer protection.

THORmaximalist, a Terra validator, released the full chat logs of the events leading up to the launch of LUNA 2. The post Validator leaks secret LUNA ‘war room' chat logs appeared first on CryptoSlate.

The Chinese government has used its Economic Daily newspaper to indicate that additional regulatory action may be taken against stablecoins in the wake of Terra's algorithmic stablecoin failure. In May, the collapse of one of the most well-known US dollar-pegged stablecoin initiatives resulted in investors losing tens of billions of dollars as they abandoned in.

Almost three weeks have passed since ALGO set a new 2022 low at $0.34 on 12 May, courtesy of the crash after UST's collapse. ALGO experienced a notable bounce-back since then, but it has since then given up those gains in favor of a support retest.

A few weeks after Terra's blockchain fiasco that saw TerraUSD (UST) lose its peg to the U.S. dollar and its sister token, LUNA crashing, the team behind the project has now launched a new Terra network (a.k.a Terra 2.0) as part of its revival plan. Pheonix-1 mainnet is now live and producing blocks – public node services, wallets and explorers should be going live shortly.

This week's launch of Terraform Labs' Luna 2.0 was off to a rocky start after its native token crashed nearly 70% within the last 24 hours. The post LUNA 2.0 Launches With Rocky Start, Casts Doubts Following Price Crash appeared first on BeInCrypto.