Terra Community Member Finds Loopholes in Report Claiming Terraform Labs Caused UST's Depegging

Key takeaways: Terra community member Fatman has found loopholes in a report claiming that TerraForm labs caused UST's depegging event in early May. According to Fatman, the Terra wallet cited in the report does not belong to the Terra Classic DAO.

Timeline of Terrausd-wormhole

According to a new report, the wallet identified by multiple independent entities and blockchain analytics firms as the main culprit behind Terra's collapse could belong to Terraform Labs.

The company behind the failed Terra (LUNA) ecosystem, now dubbed Terra Classic (LUNC), Terraform Labs (TFL) could be behind the collapse of its native algorithmic stablecoin UST. Per a report from CoinDesk Korea, investigators linked the company to the attack that led to UST losing its peg to the U.S. dollar.

Disgruntled investors in California have filed a class-action lawsuit against Binance.US for listing TerraUSD and LUNA without disclosing UST as a security. The post Class-Action Lawsuit Filed Against Binance US in Northern California for UST Sales appeared first on BeInCrypto.

Background In May 2022, UST and LUNA, which once recorded a total market cap of over $40 billion, collapsed overnight, and plenty of users suffered huge losses as a result. Following the crash, algorithmic stablecoins have once again become a popular crypto topic.

Terra's LUNA and UST disaster is gradually settling, with more doubtful information regarding the company's work making its way into the public domain. There are controversies related to Do Kwon-related. Due to this consumers have come up with the legitimate question. It's all about what happened to the huge Bitcoin backing that was supposed to …

American regulators have waded into the aftermath of the terraUSD (UST) crash last month – and the coin's operators could face trouble at the hands of United States courts and the Securities and Exchange Commission (SEC).

The U.S. Securities and Exchange Commission (SEC) is reportedly investigating Terraform Labs and the collapse of algorithmic stablecoin terrausd (UST). “SEC enforcement attorneys are investigating whether Terraform Labs broke securities and investment product rules.” SEC Launches Investigation of Terraform Labs and UST The U.S. SEC is investigating Terraform Labs and its algorithmic stablecoin terrausd (UST),

The U.S. Securities and Exchange Commission (SEC) is looking into the collapse of the TerraUSD stablecoin and whether its marketing violated federal investor protection regulations, a report from Bloomberg said Thursday (June 9). The lawyers for the SEC are seeing whether Terraform Labs, which is behind the coin, broke the rules for securities and investment

The decision is an important step in establishing the jurisdiction of US regulators and courts over the firm. The post SEC court win over Terraform and Do Kwon opens door for UST investigation, class actions appeared first on The Block.

The Securities and Exchange Commission (SEC) has posted a notice that the United States Court of Appeals for the Second Circuit has affirmed a district court order requiring compliance with investigative subpoenas served by the Commission on Terraform Labs Pte Ltd and Do Kwon – based... Read More