Do algorithmic stablecoins have a future as centralized coins are under scrutiny?
Fiat stablecoins are too deeply rooted in exchanges for algorithmic stablecoins to rise, according to some experts. Go to Source Powered by WPeMatico
Terra
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Terra co-founder Daniel Shin’s arrest denied by court, citing low flight risk
Shin currently faces multiple fraud charges, specifically concerning allegedly hiding risks associated with investing in the in-house tokens by Terraform Labs. Go to Source Powered by WPeMatico
Terra’s branding at MLB opener draws attention from spectators
An attendee shared an image of a Terra banner with the slogan “a decentralized economy needs decentralized money,” prominently displayed during Major League Baseball’s opening day at Nationals Park in Washington D.C. Go to Source Powered by WPeMatico
Terra co-founder Do Kwon’s jail time in Montenegro will be harsh: Report
Now in custody in Montenegro, Do Kwon could be facing “at least a year” behind bars as the country considers extradition requests, according to one criminal defense lawyer. Go to Source Powered by WPeMatico
US and South Korea request extradition of Terra co-founder Do Kwon
Do Kwon may have to serve time in Montenegro if convicted of charges related to forged identification documents before any extradition to the U.S. or South Korea is granted. Go to Source Powered by WPeMatico
Terraform Labs co-founder on S.Korea crosshair following Do Kwon arrest
Authorities have previously alleged that Shin earned roughly $105 million in profits from illegal sales of LUNA tokens before Terra’s collapse. Go to Source Powered by WPeMatico
Do Kwon to reportedly appeal against court’s decision to extend detention
A legal representative of Kwon confirmed the appeal against the Montenegrin court’s decision to detain the entrepreneur for 30 days longer than usual. Go to Source Powered by WPeMatico
Terraform Labs Co-Founder Do Kwon Arrested in Montenegro, Says Interior Minister
According to Montenegro’s interior minister Filip Adzic, Terraform Labs co-founder Do Kwon was apprehended at Podgorica airport allegedly bearing falsified documentation. Adzic added that investigators are “waiting for official confirmation of his identity” after Montenegrin police detained the accused suspect. *Editor’s Note: This article was edited with an extra paragraph at 2 p.m. (ET) to … Read more
Do Kwon had the right idea, banks are risk to fiat-backed stablecoins: CZ
Given Silicon Valley Bank’s direct involvement in destabilizing USDC prices, CZ blamed banks for increasing the risks of stablecoins. Go to Source Powered by WPeMatico
Here’s how Binance is mitigating its stablecoin needs after BUSD ban
The recent action from Binance comes in the wake of NYDFS ordering BUSD issuer Paxos to stop minting new BUSD. Go to Source Powered by WPeMatico
