Terra USD – DIGIT INFO

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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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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Pain ahead for algorithmic and non-cash backed stablecoins: IMF director

DIGIT — Thu, 28 Jul 2022 02:09:19 +0000

IMF Director Tobias Adrian believes uncollateralized and algorithmically-stabilized stablecoins pose too great a threat to holders and may experience further sell-offs.

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LFG to deploy $1.5 billion to bolster UST peg and build BTC reserves

DIGIT — Mon, 09 May 2022 08:05:48 +0000

LFG outlined that it will first loan out $750 million worth of BTC to over-the-counter trading firms to manage the capital and “help protect” UST.

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Terra’s UST flips BUSD to become third-largest stablecoin

DIGIT — Mon, 18 Apr 2022 05:09:38 +0000

UST market cap has surged to flip BUSD, however, its trading volumes are still only around one-fifth worth of the Binance digital dollar.

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‘We’re already buying’: Terra founder plans to obtain $10B BTC for reserves

DIGIT — Thu, 17 Mar 2022 04:34:39 +0000

Kwon also bullishly emphasized that its stablecoin TerraUSD (UST) backed by $10 billion-plus in BTC reserves will “open a new monetary era of the Bitcoin standard.”

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Defi and Algorithmic Stablecoin Demand Grows in 2021 Despite Large Centralized Competitors

DIGIT — Wed, 13 Oct 2021 19:30:53 +0000

On Wednesday, October 13, 2021, the market capitalization of all the stablecoins in existence is around $134 billion, which is 5.60% of the entire $2.4 trillion crypto economy. While centralized stablecoin projects dominate the pack of dollar-pegged tokens, a great number of decentralized stablecoins have been moving in on these centralized competitors. Algorithmic or defi-styled […]

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