LUNA

Galaxy Digital CEO Mike Novogratz revealed that he hasn’t removed his LUNA tattoo following the Terra protocol’s demise and fallout. Speaking with Squawk Box on Thursday, the CEO said the tattoo makes for a “good reminder that you’re not always right.” Novogratz had a tattoo of a howling wolf with the world ‘LUNA’ above it emblazoned across his arm in January. Both LUNA and the TerraUSD stablecoin have since collapsed to worthlessness. Terra’s downfall had a contagious impact on the…

Fresh findings on Terra's collapse reveal that the stablecoin's crash may have been an inside job.   According to a recently published report by Uppsala Security and Coindesk Korea, the wallet responsible for Terra’s attack is under the management of Terraform Labs, contrary to previous conclusions. Terra Crisis and Possible Conspiracy On May 7th, stablecoin UST, native to the Terra network, depegged, falling below the fixed 1 dollar mark. Sister coin, LUNA, followed very closely, crashing with great speed. In…

Terraform Labs has announced plans to burn 1.3B UST from the community pool following a successful governance vote. After the "Rebirth of Terra" passed some days ago - the burn proposal is the latest in Terra's ultimate revival plan.  Terra will Absorb the UST Supply On Thursday, the burn idea, proposal 1747, passed with staggering support from the Terra community. 99.3% of participants in the vote (154.579 million) pushed for TFL to destroy a huge part of the UST supply. …

Several of the world’s major exchanges have declared their support for Terraform’s reintroduction of the Terra chain as Terra 2.0. Likewise, participants in the network responded positively to the latest in a string of revival strategies from CEO Kwon Do-Hyeong. Terra Revival Plan Receives the Green Light Algorithmic stablecoin UST’s depegging kicked off a series of events that led to the Terra ecosystem’s record collapse. Although most of the crypto-industry had written off the project, Do-Kwon relentlessly pursued its salvation.…

Says It Is For Information Purposes Only. Terraform’s founder, Do Kwon shared a burn address for Luna Tokens on May 21st contrary to his former plan. Two days later, he has added warnings that people who decide to use the address have nothing to gain, in his own opinion. After the crash of the Terra ecosystem, Do Kwon had made several failed efforts to revive the continuous downward spiral. The most recent of those is the hard fork he proposed.…

Earlier this week, ministers from the world's top economies, the G7, called for greater speed as financial watchdogs introduce comprehensive crypto regulation. This comes shortly after Terra's demise saw several crypto users suffer considerable losses in the space of a week. G7 Contacts FSB to Hurry Things Up The stablecoin failed to maintain its dollar peg and crashed as low as $0.07, with sister token LUNA not far behind. This created a ripple effect as general market anxiety destabilized even…

Kwon unveils another plan to revive ebbing Luna.   On Monday, the Terraform founder and CEO unveiled another plan to save Terra’s sinking ship from extinction. This plan, shared on Twitter, includes forking Terra’s governance coin Luna and making the chain community-owned. What Went Down, Literally In spite of the death blow dealt to both Terra coins recently, the cryptocurrencies continue to find ways to stay alive. Last week, Terra's LUNA dropped from $85 value to less than nothing. Its…

Report claims Terraform scammed over 1000 Singaporeans. A “concerned” Singaporean citizen has reported Do Kwon, creator of the ravaged LUNA coin to the police. According to a post made on Reddit, the reporter claims to have filed the complaint on behalf of all Singaporeans affected by the crash of Terra's Luna. The post made in the early hours of today, contained a picture of the said report. In it, the complainant claimed that they knew over 1000 of their countrymen…

The backlash of the recent abrupt decline of Terra's Luna continues as Binance delists it from its futures trading.  The Binance derivative arm made the announcement earlier this morning. The exchange prompted all traders with currently opened positions to close them no later than 8:30 am (UTC)  today when the delisting officially took place. Once the delisting happened, they would automatically settle all USDT-Margined LUNA perpetual contracts. Furthermore, the exchange reviewed the LUNA perpetual contracts’  leverage and margin tiers. It…