Algorithmic Stablecoin – DIGIT INFO

Avalanche buys back $53M in AVAX tokens from Terra’s LFG

DIGIT — Thu, 07 Nov 2024 08:19:33 +0000

The AVAX tokens were purchased for $100 million a month before the infamous Terra Luna collapse.

Terraform Labs, Do Kwon Reach Preliminary Settlement With SEC

DIGIT — Thu, 30 May 2024 16:43:20 +0000

Singapore-based Terraform Labs and its founder Do Kwon have reportedly reached a preliminary settlement with the U.S. Securities and Exchange Commission (SEC) after being accused of misleading cryptocurrency investors before the 2022 collapse of terrausd (UST), the project’s now-defunct algorithmic stablecoin. According to a court filing, the settlement terms are currently undisclosed and the alleged […]

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$22M of Curve Finance algo stablecoin minted since mainnet launch

DIGIT — Thu, 04 May 2023 03:58:35 +0000

Decentralized finance protocol CurveDAO has successfully launched its algorithmic stablecoin crvUSD on the Ethereum network.

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

DIGIT — Fri, 28 Apr 2023 20:00:32 +0000

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

DIGIT — Tue, 14 Mar 2023 14:00:02 +0000

The 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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Hope Finance exploit results in $2M stolen from users’ funds

DIGIT — Tue, 21 Feb 2023 10:15:36 +0000

An Arbitrum-based algorithmic stablecoin project has fallen prey to a smart contract exploit, seeing $2 million stolen from users.

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Terra lawsuit a ‘roadmap’ to attack other stablecoins: Delphi Labs

DIGIT — Fri, 17 Feb 2023 06:11:23 +0000

Delphi Lab’s general counsel said the SEC was being “more thorough than usual” in its lawsuit against Terraform Labs and its co-founder Do Kwon.

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

DIGIT — Thu, 16 Feb 2023 23:41:30 +0000

The 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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New Cardano algorithmic stablecoin evokes old fears for the community

DIGIT — Fri, 02 Dec 2022 10:34:38 +0000

“I thought we already figured this out, algorithmic stablecoins, not the best option,” a community member wrote on Twitter.

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

DIGIT — Tue, 06 Sep 2022 14:00:02 +0000

Approximately 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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