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South Korean authorities have tightened their fists to do everything possible for finding the real culprit behind the massive LUNA collapse.
Digital currency venture capital firm, Hashed has revealed that it lost as much as $3.6 billion in its LUNA bet following the collapse of the Terra ecosystem back in May. Speaking to Bloomberg, Hashed Chief Executive Officer, Simon Seojoon Kim said the venture capital firm acquired as much as 30 million LUNA tokens in the […]
The South Korean investigators in charge of the Terra-LUNA collapse have placed a travel ban on both old and new Terraform Labs developers and staff in a bid to discourage them from impeding its investigations. As reported by local media platform, JTBC, the move from the Seoul Southern District Prosecutor’s Office’s Joint Financial and Securities […]
On Thursday, the crypto exchange giant Coinbase faced yet another class-action suit that claimed that the exchange platform showed negligent behavior while listing TerraUSD stablecoin. The allegations also include failure by the exchange to disclose its financial relationship with Terraform Labs. Before this, as TheCoinRise reported, Coinbase had been dragged into a Class Action lawsuit for not providing proper […]
Major Korean crypto exchanges have agreed to form a new emergency system that would take action within 24 hours if an incident like Luna happens again. Notably, LUNA/UST model by Do Kwon failed last month, leading to the residents losing tens of billions of their funds. Domestic exchanges have taken the most of the criticism for allowing […]
Binance.US the United States arm of the Binance cryptocurrency exchange has been dragged to court in a class-action lawsuit by a group of investors who claimed the trading platform facilitated the trading of LUNA and UST tokens which are unregistered securities in the US. The lawsuit was filed today in the Northern District of California, […]
Here is yet another stagnant week for the crypto investors with a slight pinch of redness on their portfolios. Ethereum co-founder Anthony Donofrio argued that Bitcoin consumes “way too much” energy. We at TheCoinRise summarize the crypto market for this week, ranging from regulatory involvement to increasing adoption. Regulatory involvement in the crypto industry Following President Joe Biden’s Executive Order from […]
The devastating UST/LUNA model has already been a source of suffering for crypto investors. In addition, the crash and the launch of Luna 2.0 has resulted in a ton of taxation issues for crypto investors in India. While the company behind TerraUSD (UST) has issued its recovery plan to compensate for the losses faced by […]
LUNA price analysis for May 22, 2022, comes on a bullish note for the coin as we have seen a price surge of more than 30% in the last 24 hours. Furthermore, we can expect the token to remain stuck in the downtrend unless the excess tokens are burned in the near future. Furthermore, as […]
With the increasing comments on the arrival of a bear market amid heavy price drops, DeFi Edge, a Twitter user, asked crypto experts what advice they have to offer for traders who are experiencing the bear market for the first time. Guy Swann put buying Bitcoin (BTC) at the top of his recommendation list to […]
After a devastating two weeks for the Terra community, the project’s team has announced changes to their projected LUNA and UST resurrection plans. Notably, Do Kwon brought a suggestion to bring a completely new chain which saw a severe backlash from the Terra community, as TheCoinRise reported. Change in LUNA and UST distribution Terra announced three important changes […]
LUNA price analysis for May 19, 2022, comes on a bearish note for the coin as we have seen a 20% drop in the price of the token and it seems that despite a revival plan presented by Do Kwon, the community is not trusting the project with its money. Additionally, we noted in our […]
The digital currency ecosystem was witness to the collapse of the Terra protocol and its associated cryptocurrencies including LUNA and algorithmic stablecoin, UST. The events which have left many people, investors, and DeFi protocols in debt have been seen as enough grounds for the South Korean Financial Services Commission (FSC) and the Financial Supervisory Service […]
The CEO of a validator runner in South Korea believes the existing Terra chain should be shut down indefinitely until the dust settles following the Terra ecosystem disaster and the community chooses what the next steps should be. Jiyun Kim, CEO of DSRV, a blockchain solutions company, published an opinion piece on his own account, explaining how […]
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