Three Arrows Capital Confirms Heavy Losses From LUNA's Collapse, Exploring Potential Options: Report
Terra’s implosion in mid-May and falling bitcoin prices affected the fund’s portfolio, its founders confirmed. Original Source
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Korean exchanges agree on emergency system in case of Terra-style collapse
Korea's leading exchanges have agreed to form a new emergency system that will spring into action within 24 hours should another Terra-style collapse threaten to come to pass.Under the new system, exchanges will convene to respond to sudden adverse market effects, such as what happened with Terra in May.The agreement
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Celsius Troubles, UST Collapse Could Have Long-Term Benefits for Crypto, FSInsight Says
The combination of macro headwinds and over-leveraged yield strategies has resulted in the forced selling of cryptocurrencies in the last few days, wiping more than $200 billion in value from the digital asset market, FSInsight said in a report on Tuesday. Original Source
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South Korean Crypto Exchanges to Create Body to Preempt Another Terra LUNA Type of Collapse – Exchanges Bitcoin News
Five South Korean cryptocurrency exchanges said they intend to create a consultative organization which will help prevent a repeat of a Terra LUNA-style token collapse. The organization is expected to achieve its objectives by applying standards that are endorsed by the crypto exchanges. Screening Guidelines Five of South Korea’s leading domestic
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Do Kwon Accused of Cashing out $2.7B Before UST Collapse, Terra Founder Says Allegations Are False – Bitcoin News
Terra’s new LUNA 2.0 token has lost 54% in value in the last two weeks, after reaching $11.33 per unit on May 30. Meanwhile, the whistleblower Fatman has accused Terra’s co-founder Do Kwon of cashing out $2.7 billion a few months before the UST de-pegging incident. Kwon, however, has been
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South Korea Investigates Terra Labs for Alleged Bitcoin Embezzlement Following UST Collapse: Report
South Korean authorities are investigating Terraform Labs following the implosion of algorithmic stablecoin UST last month. Original Source
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Staked Ether Discount After Terra Collapse a Sign of Liquidity Crunch in Crypto
Data shows that staked ether and ether traded at parity up until May 7, when Terra’s stablecoin, UST, started to wobble from its $1 peg. Since then, stETH has been unable to recover to the full ETH price. On May 12, when UST dropped to 7 cents, stETH-ETH exchange ratio
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FTX’s Harrison Says Stablecoin Demand Will Survive Terra's Collapse
CoinDesk interviewed FTX's Brett Harrison at the World Economic Forum's annual meeting 2022 last week. Original Source
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South Korean Government to Form Digital Assets Committee in Response to Terra Collapse: Report
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In wake of Terra collapse, South Korea plans new crypto oversight committee: Report
The Terra ecosystem’s rise and fall has had major consequences all around the world, but there’s no doubt that South Korea, the birthplace of its’ creator, was the most concerned country of them all.Amid signs that Terraform Labs co-founder Do Kwon was facing legal trouble in South Korea, the country’s
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