Tether explains why it ‘has nothing in common' with Terra UST

The implosion of Terra UST has damaged the reputation of stablecoins and the broader crypto industry. The post Tether explains why it ‘has nothing in common' with Terra UST appeared first on CryptoSlate.

Timeline of Terra-luna, Tether, Terrausd

More and more digital investors are skeptical about the crypto crash, prompting them to cash out all their crypto assets. Since the crypto crisis began, investors have reclaimed funds totaling $7.6 billion from the ‘stablecoin' Tether, according to new data…

The South Korean Government planning to summon Terra founder Do Kwon for a parliamentary hearing over the Terra crash. A representative of South Korea's ruling People Power Party, Yoon Chang-Hyeon, has planned a parliamentary hearing on the stablecoin's sudden collapse of TerraUSD (UST) last week, reported by the local news Newspim.  Chang-Hyun at a plenary …

Today is Tuesday (May 17), and it's the biggest day for voting so far in 2022, with ballots being cast by Dems and GOP voters in Idaho, Kentucky, North Carolina, Oregon and Pennsylvania primaries. Plus, retail sales for April will be released at 8:30 a.m.

UK's exchequer has just affirmed its vow to regulate stablecoins to create a healthy environment for stablecoin issuers and service providers, given the recent TerraUSD (UST) and Terra (LUNA) market crash. The post UK Treasury reaffirms commitment to regulate stablecoins following TerraLUNA fiasco appeared first on CryptoSlate.

A one-of-a-kind incident in the crypto market was the Terra [LUNA] debacle of last week. With spiraling investors and the start of a never-ending blame game, clouds of uncertainty haunt the market even today.

Global watchdogs will regulate stablecoins after the Terra fiasco which wreaked havoc on the market and urged the regulators to take action faster so let's have a closer look at today's latest cryptocurrency news. The dramatic collapse of Terra's UST stablecoin wreaked havoc on the industry and accelerated the plans to regulate the market.

The South Korean Government is reportedly planning to summon Terra founder Do Kwon for a parliamentary hearing over the Terra crash. The move comes after Terra's value imploded from over $40 billion to barely $1 billion in the span of a week.

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.

Do Kwon aims to fork LUNA's blockchain and make Terra Classic a part of the new strategy to save the network and ditch the UST stablecoin so let's read more today in our latest cryptocurrency news. Under the new plan proposed by Do Kwon, the new chain will be called Terra Classic and won't use

Bitcoin, the bellwether for the crypto market, took a beating this week by hitting a 52-week low, falling down to $25,402. This week's massive variations are directly linked to the troubles of TerraUSD(UST). Terra's UST stablecoin lost its peg with the U.S dollar, resulting in a crypto market crash, leaving an impact of billions of …