CZ shares his thoughts on the crypto space following Terra's collapse

Changpeng Zhao (CZ), the CEO of Binance, the largest crypto exchange by trading volume, has come out to share a few crypto lessons after the crash of TerraForm Labs' LUNA and UST coins. The post CZ shares his thoughts on the crypto space following Terra's collapse appeared first on CryptoSlate.

Timeline of Terra-luna

The Terra UST token faced the axe from popular cryptocurrency exchanges like Binance, BitMEX, OKX and FTX in the last few days. In a latest move, another top exchange Gemini joins the list of exchanges that announced or already have Terra delisted.

Mike Novogratz, CEO of digital asset manager Galaxy Digital, warned against trying to predict a bottom to the recent crypto crash. Novogratz's comments come in the wake of one of the worst downturns seen by the crypto market in recent times.

Terra (LUNA) saw a complete and total implosion this week, which saw the price of LUNA drop from $62 on May 9 to less than a cent on May 14. Bloomberg reported on Friday that the UK's financial regulator and finance ministry, the Treasury, will investigate the collapse of the Terra ecosystem's crypto tokens while …

Following the recent Terra LUNA drama, Commonwealth Bank of Australia (CBA) has suspended plans to launch an in-app cryptocurrency trading service, according to reports from The Guardian.  Recall that in November 2021, Coinfomania reported that CBA partnered with cryptocurrency firms Gemini and Chainalysis as part of its efforts to launch a crypto trading service for its clients.

Binance comes to the rescue of Terra projects, Chainalysis introduces new tools to track stolen crypto funds, Do Kwon's new proposal for a Terra hard fork and more in this week's DeFi newsletter.

Investors continue to trade the LUNA token despite its enormous fall, seeing the coin lose 99% of its value from $62 on May 9 down to less than a cent by May 14. However, on May 20, LUNA remains the most trending cryptocurrency searched on CoinMarketCap.

The CEO of Terraform Labs is facing possible criminal charges in the wake of two leading cryptos collapsing earlier this month. In a new report, Yonhap News says that South Korean authorities are considering bringing Ponzi scheme charges against Do Kwon, the founder of Terra (LUNA) and algorithmic stable coin TerraUSD (UST), both of which The post Terra (LUNA) Founder Do Kwon Facing South Korea Investigation Over Claims of Ponzi Fraud: Report appeared first on The Daily Hodl.

Analysts at Bank of America, the second-largest U.S. bank, have argued that concerns surrounding a so-called crypto winder or contagion risk associated with the collapse of the Terra ecosystem are unfounded. In a note shared with clients, first reported on by CoinDesk, analysts led by Alkesh Shah noted that investors should take into account that

G-7 nations' finance ministers have urged the group's Financial Stability Board (FSB) to hasten up the process of formulating and implementing comprehensive crypto regulations following the recent collapse of the TerraUSD (UST) algorithmic stablecoin and the LUNA token, according to…

Since the time bears have shadowed the LUNA price action, the currency's circulating supply is rising continuously. This increase in the circulating supply is mainly due to people redeeming their UST staking for digital assets. Reflecting the huge amount of tokens being dumped into the market, the price of LUNA declined. At the time of …