Terra Classic Advocates Propose Plan to Re-Establish USTC’s Peg With US Dollar, Token’s Value Surges by Over 9%

Terra Classic Advocates Propose Plan to Re-Establish USTC's Peg With US Dollar, Token's Value Surges by Over 9%Almost 12 months back, terrausd (UST), an algorithmic stablecoin, suffered a detachment from the U.S. dollar, causing the Terra ecosystem to crumble shortly thereafter. At present, supporters of the Terra Classic blockchain community are deliberating on a plan to revive the ecosystem by re-establishing the once-stable token’s peg with the U.S. dollar. In response to […]

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Report: DOJ and FBI Investigating Terraform Labs in Connection to Algorithmic Stablecoin Collapse

Report: DOJ and FBI Investigating Terraform Labs in Connection to Algorithmic Stablecoin CollapseThe Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI) are reportedly investigating the collapse of the algorithmic stablecoin terra usd (UST) and the firm Terraform Labs. Unnamed sources say that former staff members from Terraform Labs, the company behind the Terra blockchain project, have been questioned by U.S. law enforcement. Unusual Relationship: […]

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Terraform Labs and CEO Do Kwon Charged by SEC With Multibillion-Dollar Crypto Fraud

Terraform Labs and CEO Do Kwon Charged by SEC With Multibillion-Dollar Crypto FraudThe U.S. Securities and Exchange Commission (SEC) has charged Terraform Labs and its CEO, Do Hyeong Kwon, with fraud, alleging that Kwon and his company orchestrated “a multibillion-dollar crypto-asset securities fraud.” The securities watchdog insists that Kwon raised billions from investors by creating an “interconnected suite of crypto-asset securities,” many of which were involved in […]

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Stablecoin USDN Trades Below $1 Parity for 14 Days in a Row, Token Taps $0.91 Low This Week

Stablecoin USDN Trades Below $1 Parity for 14 Days in a Row, Token Taps $0.91 Low This WeekApproximately 14 days ago, the stablecoin neutrino usd (USDN) tapped a high of $0.994 per unit, and ever since then, USDN has not been able to rise above the $0.97 per unit range. The dollar-pegged asset is associated with the Waves blockchain protocol, and recently the Neutrino Protocol decided to add a token called SURF […]

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Tron’s Stablecoin USDD Falls to $0.97, USDC Deployed to Defend the $1 Parity

Tron's Stablecoin USDD Falls to $0.97, USDC Deployed to Defend the $1 ParityAfter the Terra UST fallout and the current crypto market volatility, many eyes have been focused on the Tron-based algorithmic stablecoin USDD. On June 13, the crypto asset tron (TRX) dropped significantly in value and Tron’s founder Justin Sun spoke about traders shorting the digital currency. Sun explained that the Tron DAO Reserve would deploy […]

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A New Terra Network Is Coming With Support From Major Exchanges, LUNA and UST Holders Eligible for Airdropped Tokens

A New Terra Network Is Coming With Support From Major Exchanges, LUNA and UST Holders Eligible for Airdropped TokensAccording to a recent announcement from the Terra blockchain team, the community voted and passed a proposal that plans to launch a new genesis version of the Terra blockchain without an algorithmic stablecoin. The governance proposal called “Terra Ecosystem Revival Plan 2” has been amended and the final release of the new Terra Core codebase […]

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