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Global Watchdogs Will Regulate Stablecoins After Terra's Fiasco

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Global watchdogs will regulate stablecoins after the Terra fiasco which wreaked havoc on the market and urged the regulators to take action faster so let's have a closer look at today's latest cryptocurrency news. The dramatic collapse of Terra's UST stablecoin wreaked havoc on the industry and accelerated the plans to regulate the market.

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Breaking: S.Korea Govt Plans To Summon Do Kwon Over Terra Crash - Coingape

The South Korean Government is reportedly planning to summon Terra founder Do Kwon for a parliamentary hearing over the Terra crash. The move comes after Terra's value imploded from over $40 billion to barely $1 billion in the span of a week.


Do Kwon Aims To Fork LUNA's Blockchain And Make Terra Classic - DCForecasts

Do Kwon aims to fork LUNA's blockchain and make Terra Classic a part of the new strategy to save the network and ditch the UST stablecoin so let's read more today in our latest cryptocurrency news. Under the new plan proposed by Do Kwon, the new chain will be called Terra Classic and won't use


U.S. SEC chair Reacts To Terra (LUNA) Crash! Rules & Disclosures Needed to Protect Investors - CoinPedia

Bitcoin, the bellwether for the crypto market, took a beating this week by hitting a 52-week low, falling down to $25,402. This week's massive variations are directly linked to the troubles of TerraUSD(UST). Terra's UST stablecoin lost its peg with the U.S dollar, resulting in a crypto market crash, leaving an impact of billions of …


Terra Community Strongly Opposes Do Kwon's Plan To Fork The Chain - Coingape

In a preliminary vote, the Terra community has opposed founder Do Kwon's proposed revival plan to fork the Terra chain into a new chain without the algorithmic stablecoin. Moreover, the Terra community believes burning will be the best option as suggested by Binance CEO Changpeng Zhao.


Terra community seems dead set against Do Kwon's fork proposal - The Block

According to an online poll, 90% of the community disagrees with Terraform Labs CEO Do Kwon's path forward. The post Terra community seems dead set against Do Kwon's fork proposal appeared first on The Block.


Here's why Luna UST crash is not crypto's ‘Lehman Brothers' moment - Invezz

Investors were flummoxed by the sharp fall in Bitcoin's value and that of other cryptocurrencies this past week, leading the total crypto market capitalization to plummet to as low as $1.23 trillion on May 12, its lowest level since July 2021. Terra Luna's UST stablecoin, which was backed by both LUNA tokens and billions in The post Here's why Luna UST crash is not crypto's ‘Lehman Brothers' moment appeared first on Invezz.


Luna Trading Draws Online Discussions in China Despite a Ban on Cryptocurrency - Blockchain News

Despite being banned in China, cryptocurrency is gaining attraction in the country as the value of some of the world's most prevailing digital currencies and Non-fungible tokens (NFTs) has increased.


WOO Network Halts Terra's LUNA Trading Just Hours After Relisting It - Coingape

The Terra disaster has led the largest cryptocurrency exchanges to delist the LUNA and UST tokens. But DeFi exchange WOO network sought to go against the grain by relisting LUNA, which it did on Monday.


A Week of Terra: the Story of Do Kwon and His Black Swan Wipeout - Crypto Briefing

Terra suffered a spectacular collapse after its UST stablecoin lost its peg to the dollar last week. Crypto Briefing tells the full story of the troubled blockchain's rise and fall.


South Korean Financial Regulators Begin Terra Probes, Politician Calls for Kwon to Face Parliamentary Hearing - Cryptonews

The Terraform Labs mastermind Do Kwon (real name Kwon Do-hyeong) could be facing trouble from financial and law enforcement authorities in South Korea and Singapore as a torrid month for the Terra (LUNA) platform just keeps getting worse.

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