Terra's Do Kwon Liquidated the South Korean Arm of Terraform Before LUNA & UST Crisis

New reports fuelled speculations that Do Kwon (real name Kwon Do-hyeong) may have been aware of a storm brewing for the terra (LUNA) platform – and that the Terraform Labs mastermind may have taken action to dissolve domestic parts of his company as early as last month in anticipation.

Timeline of Terra-luna, Terrausd

The Terra ecosystem in the past week experienced a massive nightmare as the UST & LUNA both being the native tokens slashed heavily. The LUNA prices have dropped so heavily that it was very close to Shiba INU prices. No doubt the prices witnessed stability to some extent at the moment but the projects that …

South Korea has been alerted over the decline in the crypto market that led to the depegging of Terra (LUNA). According to a local news outlet, Luna's decline led to cases of volatile trading.

Over the past week, the Terra blockchain system had swayed away from the entire crypto market. Industry activists are emerging to provide extensive assistance to the community.  On Sunday, May 15, Ryan Wyatt, CEO of Polygon Studios, put forth his thought via Twitter that he will help various Terra projects migrate toward the Polygon blockchain …

Even though Binance lost nearly all of its initial investment, it still turned a profit from its staking yield. The post Binance's LUNA investment, which peaked at $1.6 billion, now worth just $3,000 appeared first on The Block.

Polygon MATIC/USD is a Layer-2 scaling solution, also known as a sidechain, that was specifically developed to provide faster transactions with lower costs for its users. Polygon also has its own native cryptocurrency token known as MATIC, which is used as a means for the payment of fees on top of the network, for taking, The post Polygon working with projects on Terra: how will this shape MATIC? appeared first on Invezz.

The Luna Foundation Guard (LFG) revealed on Monday that the recent Terra crash, and its measures to support UST had wiped out most of its reserves. Its holdings now stand at about $260 million- a far cry from the over $4 billion the LFG commanded less than two weeks ago.

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.

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.

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.

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.