Audit by JS Held: Terraform Labs and Luna Foundation Guard tried to defend the UST stablecoin in May 2022 by spending $613M and $2.8B in crypto, respectively
An independent audit shows the Luna Foundation Guard spent $2.8B in crypto and Terraform Labs spent $613M trying to defend the UST stablecoin in May 2022
Terraform Labs founder Do Kwon dismissed similarities with the collapse of FTX. — Luna Foundation Guard (LFG) …
An independent audit shows the Luna Foundation Guard spent $2.8B in crypto and Terraform Labs spent $613M trying to defend the UST stablecoin in May 2022
Terraform Labs founder Do Kwon dismissed similarities with the collapse of FTX. — Luna Foundation Guard (LFG) …
Luna Foundation Guard says the company depleted its bitcoin reserves from ~80K to 313 and plans to use its remaining assets to compensate UST users
Luna Foundation Guard says the company depleted its bitcoin reserves from ~80K to 313 and plans to use its remaining assets to compensate UST users
Luna Foundation Guard says the company depleted its bitcoin reserves from ~80K to 313 and plans to use its remaining assets to compensate UST users
Luna Foundation Guard says its bitcoin reserves have depleted from ~80K to ~300 and the remaining UST and LUNA tokens will be used to compensate investors
The announcement comes after criticism of the Luna Foundation Guard's “lack of transparency.” — The Luna Foundation Guard (LFG) … Source: @lfg_org .
Luna Foundation Guard says its bitcoin reserves have depleted from ~80K to ~300 and the remaining UST and LUNA tokens will be used to compensate investors
The announcement comes after criticism of the Luna Foundation Guard's “lack of transparency.” — The Luna Foundation Guard (LFG) … Source: @lfg_org .
Luna Foundation Guard says its bitcoin reserves have depleted from ~80K to ~300 and the remaining UST and LUNA tokens will be used to compensate investors
The announcement comes after criticism of the Luna Foundation Guard's “lack of transparency.” — The Luna Foundation Guard (LFG) … Source: @lfg_org .
Luna Foundation Guard says its bitcoin reserves have depleted from ~80K to ~300 and the remaining UST and LUNA tokens will be used to compensate investors
The announcement comes after criticism of the Luna Foundation Guard's “lack of transparency.” — The Luna Foundation Guard (LFG) … Source: @lfg_org .
Over $1.2B of Luna Foundation Guard's bitcoin reserves remains unaccounted for; LFG had $2B+ in bitcoin reserves and loaned $750M to OTC firms and market makers
Quick Take — Luna Foundation Guard accumulated over $2 billion in bitcoin reserves and provided a loan of $750 million in bitcoin.
Q&A with retail traders after Terra's crash: some lost their life savings, others shared suicidal ideation on forums, some now acknowledge it's a Ponzi scheme
It took less than a week for the third largest stablecoin and its ecosystem to become virtually worthless, wiping out countless traders' savings.
Over $1.2B of Luna Foundation Guard's bitcoin reserves remains unaccounted for; LFG had $2B+ in bitcoin reserves and loaned $750M to OTC firms and market makers
Quick Take — Luna Foundation Guard accumulated over $2 billion in bitcoin reserves and provided a loan of $750 million in bitcoin.
Over $1.2B of Luna Foundation Guard's bitcoin reserves remains unaccounted for; LFG had $2B+ in bitcoin reserves and loaned $750M to OTC firms and market makers
Quick Take — Luna Foundation Guard accumulated over $2 billion in bitcoin reserves and provided a loan of $750 million in bitcoin.
Q&A with retail traders after Terra's crash: some lost their life savings, others shared suicidal ideation on forums, some now acknowledge it's a Ponzi scheme
It took less than a week for the third largest stablecoin and its ecosystem to become virtually worthless, wiping out countless traders' savings.
A look at Do Kwon's algorithmic UST stablecoin, designed to trade at $1, after it fell as low as $0.60; CoinMarketCap says there are 18.5B UST in circulation
Algorithmic stablecoins, like their more “traditional” counterparts, are supposed to provide calm in the chaos of crypto.
Bitcoin fell ~10% to around $31,000, its lowest level since July 2021, as investors flee riskier investments; Ethereum, Solana, Avalanche, and others also fell
Bitcoin falls by up to 4.6% to $32,800, its lowest level since July 2021, as investors back away from risky investments; Cardano, Polkadot, and others also drop
Bitcoin slumped to a level last seen in July 2021, part of a wider retreat in cryptocurrencies triggered by a global flight from riskier investments.