Today in Data: Terra Tumbles, Crushing Crypto

Today in data, the stablecoin TerraUSD falls, leading to a market-wide cryptocurrency collapse. Data 29B: Market capitalization in dollars of LUNA coin two weeks ago 60M: Number of Americans who have purchased cryptocurrency in the last year 40M: Funding in dollars announced by crypto-to-fiat startup BVNK 120,000: LUNA's market cap in dollars Thursday (May 12).

Timeline of Terra-luna

Pro-crypto commissioner of the Securities and Exchange Commission (SEC) Hester Peirce, popularly known as crypto mom, said there might be some developments towards stablecoin regulation soon, according to a Reuters report. The post Pro-crypto SEC commissioner foresees faster stablecoin regulations after Terra crash appeared first on CryptoSlate.

Janet Yellen has made some thoughtful remarks about the proper way to regulate digital currencies and assets, innovation, and their rules. The current gloomy environment surrounding the crypto market necessitates government regulation of the cryptocurrency industry.

At this point, it's easy to conclude that the market price and valuation of the once-a-darling cryptocurrency Terra (LUNA) have reached a point of no return. As seen from Terra Analytics, a significant number of the LUNA is still being launched into circulation, which is hurting and dragging the price into the abyss.

Changpeng Zhao, popularly referred to as CZ, is the founder and Chief Executive Officer of Binance. Speaking from his official Twitter handle, he revealed what prompted the decision to take LUNA and UST off Binance.

Galaxy Digital, an early backer of Terraform Labs and Luna, said in a release that market conditions warrant an update on its liquidity position. The post Terra-backer Galaxy Digital gives update on liquidity position appeared first on The Block.

Block data showed that the Terra network was reactivated on Friday, after being paused twice in 12 hours. The reactivation comes nearly 12 hours after the network was suspended by its developers, who said they planned to “reconstitute” the blockchain.

Binance warned it will delist LUNA if the coin crashes below 0.0005 USDT which means the user will no longer be able to trade LUNA for USDT on the exchange so let's read more today in our latest cryptocurrency news. Binance warned it will delist LUNA and the tether trading pairs if the price of

Binance, one of the world's largest cryptocurrency exchanges, today confirmed that the company has suspended the trading for LUNA and UST amid issues on the Terra blockchain. The recent news from the crypto trading platform came after LUNA plunged by more than 99% within a few days.

Terra's UST losing its peg has created huge turbulence within the crypto space which destabilized many of the assets. However, a minor recovery with the LUNA or UST price was mistaken as a trend reversal. And many investors again jumped into the burning well. And hence both of the assets were suspended from trading on …

Korean news outlet Money Today has reported that TerraForm Labs CEO Do Kwon has requested police protection. The post Do Kwon fears for his safety following Terra (LUNA) implosion appeared first on CryptoSlate.