Terraform Labs co-founder Do Kwon gets probed by Singaporean authorities
Local police in Singapore sent an email on Monday saying that they have begun a probe connected to Do Kwon’s Terraform Labs. Go to Source Powered by WPeMatico
Terra
Auto Added by WPeMatico
Ebb and Flow of Stablecoin Economy Continues With BUSD’s Market Cap Dropping Below $10 Billion Range
The realm of stablecoins is an ever-evolving landscape and the number of coins in circulation for the stablecoin BUSD has fallen below the 10 billion mark to approximately 9.68 billion on March 3, 2023. Over the last 30 days, BUSD’s token supply has dropped 40% lower. In contrast, the number of tethers in circulation has … Read more
5 High-Profile Cryptocurrency Implosions Shatter Trust, Wipe out Billions in Value During 2022’s Crypto Winter
2022 was a year of phenomenal cryptocurrency blowouts, as several projects collapsed and many more are on life support after the entire ecosystem was shattered. The fallout from these digital currency projects has not only removed billions of dollars in value from the crypto economy, but also eroded trust. The following is a look at … Read more
Yield platform Stablegains sued for promoting UST: Finance Redefined
DeFi market saw another exploit this past week on the Platypus protocol, resulting in a loss of over $8 million. Go to Source Powered by WPeMatico
Eclipse to Launch Rollup Blockchain for Polygon Network with Solana Compatibility
Customizable rollup provider Eclipse announced that the startup is launching a scaling solution that is compatible with Solana and Polygon. Eclipse disclosed that the Layer 2 blockchain can run smart contracts on Solana, and decentralized applications (dapps) will be easily migratable to the Polygon Sealevel Virtual Machine (SVM). How Eclipse’s L2 Scaling Concept Hopes to … Read more
Trading on major exchanges spiked following collapse of Terra, FTX: BIS report
The report suggested that whales with Binance, FTX, and Coinbase “probably cashed out at the expense of smaller holders” by reducing their BTC stockpiles as retail investors bought. Go to Source Powered by WPeMatico
The fate of dollar-pegged stablecoins in question: Law Decoded, Feb. 13–20
The United States Securities and Exchange Commission (SEC) ordered Paxos Trust to stop issuing Binance USD. That could affect the whole stablecoins ecosystem. Go to Source Powered by WPeMatico
Yield platform Stablegains sued for promoting UST as a ‘safe’ investment
The stablecoin yield platform is being sued for customer losses following exposure to the Anchor Protocol and UST collapse last year. Go to Source Powered by WPeMatico
Do Kwon removed 10K Bitcoin from Terra after collapse — takeaways from SEC complaint
The SEC complaint included allegations around claims of TerraUSD’s peg, Terra’s relationship to Chai, and co-founder Do Kwon cashing out for millions. Go to Source Powered by WPeMatico
Stablecoin issuer Paxos reportedly probed by New York regulators
While the exact reason for the investigation hasn’t been revealed, it has been reported that the New York regulator plans on upping its efforts to protect consumers this year. Go to Source Powered by WPeMatico
