Exchanges begin delisting LUNA, Binance explains why

The world's largest exchange by trading volume, Binance, has delisted its trading pairs for Terra's LUNA.  The exchange announced that it had canceled all pending orders, ceased trading, closed user positions, and conducted an automatic settlement of all LUNA trading pairs.

Timeline of Terra-luna

Following a few days of carnage, the two leading crypto assets built on top of the Terra blockchain have plummeted to significant lows. LUNA has dropped to $0.00000100 per coin and the once-stable coin terrausd (UST) hit a low of $0.044 per unit. After temporarily halting the Terra blockchain and restarting it, the team has

The Terraform Labs CEO was last seen in Singapore, but his current location is unknown. The post After Terra's stablecoin implosion, battered investors ask ‘where is Do Kwon?' appeared first on The Block.

The collapse of TerraUSD (UST), an attempt to create an algorithmic stablecoin, and the demise of LUNA has captured the attention of the entire crypto-sphere. Going from billions to almost nothing is a spectacular event.

Today in data, the stablecoin TerraUSD falls, leading to a market-wide cryptocurrency collapse. Data 29B: Market capitalization in dollars of LUNA coin two weeks ago 60M: Number of Americans who have purchased cryptocurrency in the last year 40M: Funding in dollars announced by crypto-to-fiat startup BVNK 120,000: LUNA's market cap in dollars Thursday (May 12)

Pro-crypto commissioner of the Securities and Exchange Commission (SEC) Hester Peirce, popularly known as crypto mom, said there might be some developments towards stablecoin regulation soon, according to a Reuters report. The post Pro-crypto SEC commissioner foresees faster stablecoin regulations after Terra crash appeared first on CryptoSlate.

Janet Yellen has made some thoughtful remarks about the proper way to regulate digital currencies and assets, innovation, and their rules. The current gloomy environment surrounding the crypto market necessitates government regulation of the cryptocurrency industry.

At this point, it's easy to conclude that the market price and valuation of the once-a-darling cryptocurrency Terra (LUNA) have reached a point of no return. As seen from Terra Analytics, a significant number of the LUNA is still being launched into circulation, which is hurting and dragging the price into the abyss.

Changpeng Zhao, popularly referred to as CZ, is the founder and Chief Executive Officer of Binance. Speaking from his official Twitter handle, he revealed what prompted the decision to take LUNA and UST off Binance.

Galaxy Digital, an early backer of Terraform Labs and Luna, said in a release that market conditions warrant an update on its liquidity position. The post Terra-backer Galaxy Digital gives update on liquidity position appeared first on The Block.

Block data showed that the Terra network was reactivated on Friday, after being paused twice in 12 hours. The reactivation comes nearly 12 hours after the network was suspended by its developers, who said they planned to “reconstitute” the blockchain.