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As widely reported, much of the lost value was on the lending protocol Anchor, which took the biggest hit, the data show. It held more than $17 billion on May 6 and locked up just over $106 million on Friday – a drop of over 99%. Anchor was home to
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The latest moves in crypto markets in context for May 19,2022. Source
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Official records show Do Kwon dissolved Terraform Labs Korea, closing down its headquarters and sole branch just days before the collapse of terra crypto (LUNA) and stablecoin terrausd (UST). Do Kwon Shut Down Terraform Labs Korea Before UST and LUNA Fallout Terraform Labs founder Do Kwon reportedly closed down his company in
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"Given the proposed Terra chain fork, LFG has disclosed no plans to use the AVAX," according to the tweet. “Should any sales be contemplated for the LFG reserves, the Avalanche Foundation is ready to work with LFG on a sensible trading strategy.” Source
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“We believed a high level of external collateralization was a necessity in the long run, and we saw this as a path to get there. Unfortunately, it didn’t grow fast enough compared to UST supply, and, combined with a fall in value of the BTC reserves, the liability overhang was
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Financial commentator Frances Coppola is convinced that algorithmic stablecoins such as TerraUSD (UST) will always be vulnerable to sudden collapses, no matter how much the technology improves. “They can improve their game theory, they can improve their risk assessment, but I think there will still always be some states of the
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The circulating supply of LUNA has continuously gone up since the UST debacle began. This has mainly been from people redeeming their staked UST for the digital asset, which caused its supply to rise drastically in such a short amount of time. In turn, the price of LUNA had declined
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The crypto market has experienced many bloodbaths in the past. But last week’s crash had more catastrophic effects on the market than recent bearish trends, mainly on the stablecoins. UST, a stablecoin issued by Terraform Labs, is an example that stunned the crypto world as the coin collapsed and dropped
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South Korea’s top financial regulators have launched an emergency investigation into the collapse of cryptocurrency LUNA and stablecoin UST. The authorities have asked domestic cryptocurrency exchanges to provide information relating to transactions and investors of the two coins. South Korea’s Emergency Investigation Into LUNA, UST South Korea has launched an “emergency” investigation
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The dramatic fall of Terra (LUNA) along with the algorithmic stablecoin UST has been a major talking point among the crypto industry. And now the South Korean Conservative Party has requested a parliamentary hearing on the matter.Korea's conservative party requested to have a hearing about the Terra incident. The politician
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