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Terraform Labs said that UST, Terra’s ill-fated “decentralized” stablecoin, would stay pegged to the price of $1 solely as a result of a state-of-the-art “algorithm.” That algorithm – which was codified in blockchain-based computer code called smart contracts – was supposed to print and burn Luna, UST’s speculative sister token,
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EXMO is also giving up its users in Kazakhstan since the new owner is based there. The structure of the deal is unclear, as EXMO hadn't been operating as a separate legal entity in Russia. Maria Stankevich, EXMO's chief business development officer, told CryptoX that what's being sold is "around
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A new unnamed investor has offered to bail out Africrypt, the collapsed South Africa-based crypto investment company, with $5 million. The offer, which does not require criminal charges against Africrypt directors to be dropped, must be accepted within seven days. A Better Offer A new mystery investor has offered to bail
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An unknown investor has proposed to acquire a 51% stake in Africrypt — the collapsed cryptocurrency investment company — for a purchase price of $5 million. However, in exchange for the offer, the investor wants all criminal proceedings against Africrypt directors dropped. Offer Must Be Supported by 75% of Creditors According to
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Cryptocurrency companies may constantly be trying to improve their usability and security, but when there’s a weakness for hackers to exploit, they go big or go home.According to court documents released by Seamus Hughes at Program on Extremism, the United States District Court for the District of Columbia already
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