Korea's authorities open investigation into TerraUSD collapse

The LUNA incident has caused a stir in the cryptocurrency market, and therefore, the financial authorities in South Korea have launched an investigatory mission to reveal the saga behind the LUNA crash. The aim is to provide clarity for the future of stablecoins and protect the interests of investors.

Timeline of Terrausd

Yun Chang-Hyun of South Korea's People Power Party has reportedly called for a hearing on TerraUSD after the stablecoin's sudden collapse. The post South Korean politician calls for Do Kwon to attend hearing on TerraUSD's collapse appeared first on The Block.

With weeks, months of bleeding in Satoshi streets and extreme fear of Inflation, a heavy load of sell-offs are rising negative market sentiments. The next big shocker is the stablecoins the world is eyeing right now to see the future of stablecoins after the tumultuous market crash of Terra (USD).  So what makes Stablecoins so …

In a very harrowing turn of events for Terra, the blockchain ecosystem has opted to indefinitely halt the trade on its UST and LUNA tokens. The second halt in 24 hours came at a very ominous date, Friday the 13th.

Digital asset investment products saw the largest amount of inflows so far this year this past week, amounting to $274 million. The post TerraUSD (UST) Collapse Triggers Buying Opportunity of Crypto Products, Inflows Hit $274M appeared first on BeInCrypto.

The Non-Fungible Tokens (NFTs) have come a long way from the time when only celebrities used to create and sell for millions. But today NFTs have become a mode of the thing of their own. These NFTs can offer anything from GIFs, and digital art to static images. It's just a matter of time before …

U.S. Treasury Secretary Dr. Janet Yellen has called on U.S. Congress to enact regulations for stablecoins following TerraUSD's epic collapse in price last week.  Yellen made her comments last Tuesday (May 10) while testifying before the U.S. Senate Committee on Banking, Housing and Urban Affairs, saying that she believes stablecoins pose a risk to the market's financial

The crypto market is slowly adjusting to a new normal after the de-pegging of TerraUSD [UST] sent ripples through the Terra ecosystem and the sector at large. At press time, the ex-stablecoin once pegged to the dollar was trading at $0.1482 after losing 26.70% of its value in a day.

In an appearance on CNBC's “Power Lunch,” Lou Kerner of Blockchain Coinvestors compared the U.S. Dollar to the failed stablecoin UST. The crypto VC categorized both currencies as “unbacked things” which in the long term “go to zero.

Crypto asset manager Galaxy Digital has taken a deep hit following the significant downturn in digital asset markets. According to a recent press release, the firm is reporting that is on track to lose $300 million for the second quarter of 2022. The firm is also hinting that it has no exposure at all to The post Mike Novogratz's Galaxy Digital Sees Massive $300,000,000 Loss This Quarter, Hints Zero Exposure to TerraUSD appeared first on The Daily Hodl.

Ethereum founder Vitalik Buterin says he supports a suggestion on how to reimburse holders of TerraUSD (UST) following the massive collapse of the Terra ecosystem last week. Originally put forth by a Twitter account named PersianCapital, the suggestion involves prioritizing the smallest holders in order to make them 100% whole after losing their funds to The post Ethereum Founder Vitalik Buterin Supports TerraUSD (UST) Recovery Plan That Prioritizes Small Holders appeared first on The Daily Hodl.