A popular cryptocurrency whale known as Gigantic Rebirth on the microblogging platform Twitter has revealed a massive bet of around $8 million against Terra Classic ($LUNC). Terra Classic is the rebranded version of the original Terra ecosystem, which collapsed earlier this year. Gigantic Rebirth, known as GCR on...
The price of Terra’s $LUNA tokens has mysteriously shot up over the last few hours to now trade above the $5.9 mark, leaving most traders puzzled as to what is going on with the price of the cryptocurrency. According to data from CryptoCompare, Terra’s trading volume suddenly exploded...
On Wednesday (September 7), crypto exchange KuCoin announced support for the 1.2% tax burn proposal of the Terra Clasic ($LUNC) community if “the proposal is officially approved and implemented” on the Terra Classic mainnet.
The head of the Office of the Comptroller of the Currency (OCC) has issued a dire warning over crypto in the wake of the collapse of the Terra ($LUNA) ecosystem. The OCC is “an independent bureau of the U.S. Department of the Treasury that charters, regulates, and supervises all national...
In a recent interview, Binance Co-Founder and CEO Changpeng Zhao (aka “CZ”) shared his thoughts on the recent failure one of the most high profile projects in the crypto space. As leading digital asset market data provider CryptoCompare said in an excellent comprehensive report (titled: “Exploring UST’s Fall From Grace”) published on...
One lesser known fact about the recent price collapse of algorithmic stablecoin TerraUSD ($USST) is that it managed to hit some of the most vulnerable people on the planet, namely relatively poor people living in high inflation countries. According to a report published on May 26 by tech...
The Terra community has voted through the protocol’s governance system to burn all TeraUSD ($UST) that the project’s community pool held, along with the UST deployed for past liquidity incentives on the Ethereum network. As first reported by TheBlock, roughly 11% of the cryptocurrency’s existing supply is now...
Billionaire investor Bill Ackman says that the epic collapse of Terra ($LUNA) and algorithmic stablecoin TerraUAD ($UST) has exposed a crypto version of a pyramid scheme. In a series of tweets, Ackman shared his views on the price collapse of $UST, which was once thought to be pegged...
Leading cryptocurrency exchange Binance has revealed it could have reaped $1.6 billion from a $3 million investment into the Terra ($LUNA) ecosystem, but never touched its holdings and as a result, they’re now worth less than $3,000. On social media Binance’s CEO Changpeng “CZ” Zhao update the cryptocurrency...
An Ethereum-based competitor of the Terra ($LUNA) ecosystem that collapsed earlier this month has been seeing its price surge amid “major whale activity,” as large holders are presumably moving towards it and its decentralized stablecoin. According to data from on-chain analytics firm Santiment, Maker ($MKR) has seen “major...
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