Luna Foundation Guard breaks silence on state of Terra reserves, looks to compensate users

LFG said it would look to compensate users for losses suffered due to the breakdown of its algorithmic stablecoin.  The post Luna Foundation Guard breaks silence on state of Terra reserves, looks to compensate users appeared first on The Block.

Timeline of Terra-luna

Terra has continued to settle down after a series of decline runs to reach its lowest level since its creation. Although all that is now partly over, its community is still very far from impressed.

A high-ranking member of the Luna Foundation Guard (LFG) said on Monday that the foundation's reserves are almost ready to be deployed, barring a few technicalities. The reserves will be largely targeted towards helping small wallets, and supporting builders and stakers on Terra.

CZ Binance would like to see bigger transparency from Terra's team and shared his opinion on what happened with Luna so let's read more today in our latest cryptocurrency news. The CEO of the world's biggest crypto exchange Binance said that he expected some more transparency from Luna's team after last week's UST-LUNA fiasco.

Binance CEO “CZ” in a tweet on Monday clarified that the exchange did not buy, and does not own any UST. Any UST the exchange had was from trading fees, and is now valued close to zero- following a severe crash in the token.

South Korean financial authorities have launched an emergency study of cryptocurrencies, which is designed to help them pass the “Digital Asset Basic Act,” the country's upcoming cryptocurrency regulation. LUNA crisis hastens Korea's pace in regulating cryptocurrency The digital asset class is currently not regulated in South Korea, but the government has been working on a.

Changpeng Zhao (CZ), CEO of Binance, has voiced his opinion on Terra's proposal to fork its blockchain and attempt a recovery. Following the collapse of both LUNA and UST, Terraform Labs founder Do Kwon endorsed the idea of forking Terra to “make the ecosystem whole from the UST depegging event.” “We've built up one of The post Binance CEO Changpeng Zhao Doubts Terra's Plans for a Fork appeared first on Coin Bureau.

The British Treasury has declared about regulating the stablecoins after experiencing the collapse of TerraUSD(UST) and terra (LUNA). The HM Treasury, UK Treasury Department by acting on this has planned to regulate the stablecoin payment despite the crypto market meltdown, reported on Saturday, last week.  The declaration followed the collapse of Terra, an algorithmic stablecoin …

The British Treasury Department has affirmed its commitment to regulate stablecoins after the collapse of terrausd (UST) and terra (LUNA). “This will create the conditions for issuers and service providers to operate and grow in the U.K., whilst ensuring financial stability and high regulatory standards,” said an HM Treasury spokesperson. Regulation of Stablecoins in the

The operator of a major validator node on Terra is displeased with how events unfolded leading to the cessation of the chain, and hopes a whole new blockchain will be created to replace it.

WASHINGTON, D.C. — Terra may be on the ropes after last week's dramatic death spiral, but the cryptocurrency's name is still loudly emblazoned on the ballpark of Major League Baseball's Washington Nationals.