Terra, Luna and UST: How we got here

The situation surrounding TerraUSD is complicated and has unfolded exceedingly fast. Here's what you should know so far. The post Terra, Luna and UST: How we got here appeared first on The Block.

Timeline of Terra-luna, Terrausd

In response to widespread rumors, hedge fund giants Citadel Securities and BlackRock say they don't trade any the notorious TerraUSD, a stablecoin that lost its peg to the dollar, wiping out $25 billion from the underlying asset.

Following the de-pegging debacle overtaking TerraUSD, several other stablecoins appear to have lost their peg to the dollar as well. The post Series of Stablecoins Lose Pegging Following TerraUSD (UST) appeared first on BeInCrypto.

Terra founder Do Kwon has revealed a plan to rebuild the project's ecosystem following LUNA's 99% collapse from its all-time high to below $1 and TerraUSD (UST) losing its dollar peg. In a Twitter thread, Kwon tells his 532,000 followers that he intends to work with the Terra community to “weather the crisis” and get The post LUNA Collapses to $0.69 As Terra Founder Do Kwon Outlines Plan To Rebuild Ecosystem appeared first on The Daily Hodl.

Terra's (LUNA) UST de-pegging from the U.S. Dollar was part of a ‘brilliant' Soros-style stratagem that netted its perpetrator close to a billion dollars. So claims market analyst the Onchain Wizard, who delved into the anatomy of the attack to uncover its secrets.

Decentralized finance (defi) protocols are having a hard time weathering the storm, as the total value locked in defi today is down 39.26% since April 3, from $230.18 billion to the current $139.81 billion. The sudden value drop stemming from Terra's native assets, LUNA and UST, has pushed Lido down to the third-largest TVL position

Investors in the Terra crypto ecosystem have taken to social media amid major price declines in LUNA and UST. The post Amid Terra crypto turmoil, ordinary investors start to pick up the pieces appeared first on The Block.

CoinDesk reported Wednesday that Do Kwon, co-founder and chief executive of the development firm behind the Terra blockchain, was closely involved with an earlier stablecoin effort that failed to gain traction. The post Terraform Labs CEO pseudonymously co-created failed stablecoin project Basis Cash, CoinDesk reports appeared first on The Block.

I've been in cryptocurrency for a few years now, but I've never seen anything like the events of the last 48 hours. We have seen a stablecoin worth $18 billion – UST –  go poof, as well as the accompanying asset – LUNA – which was at its peak worth $42 billion. As I write The post Who is Do Kwon, and where did all go wrong for UST founder? appeared first on Invezz.

Do Kwon has advised LUNA investors to “stay strong” as the price approaches zero. Prices have plummeted since the UST stablecoin lost parity with the US dollar, hitting a new low this morning. LUNA, UST Tumble Toward Zero LUNA/USD is now trading at below $1 To put things in perspective, prices have dropped over 98% …

Terraform Labs CEO Do Kwon announced a possible “solution” to deal with the massive crash LUNA and UST experienced over the last couple of days. The post TerraForm Labs CEO Do Kwon announces recovery plan for LUNA, UST following crash appeared first on CryptoSlate.