Analysis of FTX and Alameda Collapse Points to Terra LUNA Fallout Starting the Domino Effect

An analysis of the FTX and Alameda Research collapse has been published by the blockchain and crypto analytics firm Nansen and the report notes that the Terra stablecoin collapse, and the liquidity crunch that ensued, likely started the domino effect that led to the company's implosion.

Timeline of Terra-luna-v2

According to local reports, Terraform Labs Co-founder Daniel Shin has claimed that he did not sell LUNA at its peak, before the token's price collapsed. Shin reportedly held a considerable number of LUNA during the ecosystem's collapse in May.

Terra Luna Classic price prediction is bearish; however, buyers still have hope for a bullish reversal above $0.000169, a support level extended by an upward trendline. The cryptocurrency market has recently been harsh to investors, with most cryptocurrencies unable to produce gains.

A South Korean Court has frozen Terra co-founder, Daniel Shin's US$104 million in digital assets for allegedly violating the capital markets law and breach of duty. CEO Do Kwon tweets he was wrong, not fraudulent.

A South Korean court has approved the prosecution's request to seize assets belonging to Terraform Labs co-founder Shin Hyun-Seong over his role in the collapse of the Terra (LUNA) ecosystem. 

Luna Foundation Guard released a third-party technical audit on 16 November The audit confirmed the absence of impropriety on the part of Terraform Labs and LFG. When Terra crashed, it caused billions of dollars in losses in the crypto world, both personally and for institutions.

A third-party audit report released by JS Held on Nov. 16 revealed that Luna Foundation Guard spent $2.8 billion after the UST de-peg to come out of the debacle. Notably, it has become clear that the reserves were not used to pay back the investors of the project.

Luna Foundation Guard (LFG), the entity behind the collapsed Terra ecosystem, spent $2.8B (80,081 BTC and 49.8M in stablecoins) to defend UST's peg, a new report by London-based third-party auditing firm JS Held has shown.

The Luna Foundation Guard (LFG), nonprofit managing UST algorithmic stablecoin, has released a technical audit to provide full transparency into assets and efforts to repeg TerraUSD (UST) in May. LFG aims to answer all allegations including misappropriated funds, insiders, holdings funds in other wallets, and funds frozen.

Luna Foundation Guard published an audit today by JS Held showing its efforts to defend the UST peg during the May collapse. The post Luna Foundation Guard says it spent $2.8 billion to defend UST peg appeared first on The Block.

A November 9 technical audit report submitted by JS Held revealed the Luna Foundation Guard spent $2.8 billion to defend UST's peg between May 8 and May 12. The post Audit reveals Luna Foundation Guard spent $2.8B to defend UST peg in May appeared first on CryptoSlate.