Billions of Luna minted as supply grows 20-fold in four days

The UST crisis is causing billions of Luna to be minted — and it may not ease up any time soon. The post Billions of Luna minted as supply grows 20-fold in four days appeared first on The Block.

Timeline of Terra-luna

The Crypto crash continues for the 4th consecutive day which is constantly extracting a billion of the market cap each day. While there is an extreme fear among the traders, as they keep extracting all their investments, spiking the trading volume by more than 41.85%. Terra, being the spotlight of the crash recorded more than …

Binance, the world's largest crypto exchange, warned on Thursday that trading Terra on its platform will be prone to disruptions. The exchange cited surging withdrawal requests for LUNA, which have congested the network.

Terraform Labs on Thursday said it has proposed three new emergency measures to save LUNA and UST stablecoin. The company has proposed to burn all UST in the community pool, burn the remaining 371 million UST cross-chain on Ethereum, and stake 240 million LUNA to protect from network governance attacks.

Do Kwon outlined Terra's path after the UST stablecoin de-pegging and issued a proposal in hopes of re-pegging the ecosystem's stablecoin so let's have a closer look at today's altcoin news. The founder of Terraform Labs, Do Kwon outlined Terra's path for the near future and what are the next steps in the wake of

Crypto companies announced no exposure to UST and LUNA as they both started crashing and the stablecoin lost its peg so stakeholders rushed to head off the damages caused by UST crashing so let's read more today in our latest crypto news today. As UST and LUNA crash to new lows, most in the crypto

According to two former SEC lawyers, the Securities and Exchange Commission is likely already probing what happened to UST over the last week. A spokesperson for the SEC told The Block: “The SEC does not comment on the existence or nonexistence of a possible investigation.”  The legal status of stablecoins in the US regulatory framework …

Terra's dollar stablecoin crashed below its dollar peg but Luna followed as it crashed in value below the $1 level so let's read more about it in today's latest cryptocurrency news. While Terra's UST trades more than $0.75 from the dollar peg, the currency responsible for maintaining the peg LUNA is also crashing.

Timeline of the Collapse: -In the early morning of May 8, to prepare for the 4Crv Pool, Luna Foundation Guard (LFG), a Singapore-based non-profit that maintains the Terra network, removed $150 million worth of UST from the UST-3Crv Pool. At this time, the TVL of the pool was around $700 million.

The two most-discussed tokens this week - luna (LUNA) and terraUSD (UST) kept moving lower, despite the team behind these projects announcing "three more emergency actions" in an attempt to save the UST algorithmic stablecoin.

Gemini crypto exchange has refuted claims that it had something to do with the recent dump of Terra protocol's native token, LUNA. According to the exchanges, the rumors that it was involved in the massive decline of the token are false.