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"After two years of investigation, the completion of a discovery period that resulted in the taking of more than 20 depositions, and the exchange of over two million pages of documents and data, the SEC is evidentiarily no closer to proving that the defendants did anything wrong," Terraform contended in
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Terraform Labs, founded by Do Kwon, has once again accused Citadel Securities of deliberately causing the depegging of its TerraUSD (UST) stablecoin in 2022. On Oct. 10, the company filed a motion in the United States District Court for the Southern District of Florida to compel Citadel Securities to release documents
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Community members are vying for a new model to improve revenues to sustain the peg, which includes token buybacks and fees paid on peg deviations. Source
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Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week.The backlash from the Terra implosion still haunts the crypto world, with the now-shuttered stablecoin yield platform Stablegains being sued for customer losses. The plaintiffs
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Decentralized finance yield platform Stablegains has been sued in a Californian court for allegedly misleading investors and failing to comply with securities laws.On Feb. 18, plaintiffs Alec and Artin Ohanian filed a complaint in the U.S. District Court for the central district of California.In it they alleged that Stablegains, a
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Officials said they suspect Chai Corp. leaked customer information to Terraform Labs. Original Source
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“While there have been multiple recent failures in crypto, it is important to distinguish between Terra’s case, where a transparent, open-source decentralized stablecoin failed to maintain peg parity and its creators spent proprietary capital to try to defend it, and failure of centralized custodial platforms where its operators misused other
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Cosmos’s fledgling decentralized finance (DeFi) ecosystem previously relied on the promise of Do Kwon’s digital dollar, and the algorithm that supposedly backed it, to build up its on-chain lending, borrowing and exchange markets. When UST came crashing down, its role was assumed by various different stable currencies – the most
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Over $20 million have been earmarked to help projects making the move. Original Source
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Los fondos de cobertura centrados en criptomonedas están acortando cada vez más la moneda estable Tether (USDT), vinculada al dólar estadounidense, en medio de una perspectiva sombría del mercado casi un mes después de la implosión de terraUSD (UST), dijo el Wall Street Journal en un informe el lunes. Source
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