Metrics: Crypto Implosions Result From Centralized Entities
A Redditor said that the failure of all unsuccessful crypto businesses was due to the fact that they were all centralized, not because they were crypto.
Luna
Interpol Requests Global Arrest of Terra’s Do Kwon
Interpol seeks worldwide arrest to Terra’s co-founder Do Kwon. Seoul Prosecutors said Kwon was “obviously on the run.” Reportedly, Kwon was charged with the collapse of Terra’s ecosystem. The International Criminal Police Organization (Interpol) sent out a “Red Notice” request to law enforcement all over the world in order to “locate and arrest” Terraform Labs founder Do Kwon. According to an article published by Bloomberg, South Korean prosecutors in Seoul sent them a text message, confirming the international police organization’s issuance of a Red Notice for Kwon. Thus, acknowledging the charges Kwon faces in the country corresponding to Terra’s downfall.
Scorned LUNA and UST Users Hope to See Terra CEO Behind Bars
South Korea issues a warrant to bring Do Kwon to justice. The CEO of Terraform Labs and five others are presently in Singapore. Scorned LUNA and UST users worldwide hope to see Do Kwon behind bars soon. Amid the arrest warrant issuance from South Korea for Do Kwon, crypto users everywhere are hoping to see justice. Specifically, a scorned user on Reddit says that they would like to see someone make an NFT of Do Kwon behind bars so they can buy it. Many others chime in with enthusiasm for the same. In detail, a ruling in a South Korean
Critics Warn Against LUNC as Fans Predict $0.001 Soon
In less than a week, LUNC has moved from $0.0001 to $0.00058 before experiencing a pullback. Detractors claim LUNC is a “scam,” while fans believe it will reach $0.001 soon. For clarity, LUNC and Terra (LUNA) are two different and mutually-exclusive cryptocurrencies. Critics have started to warn people against buying Terra Luna Classic (LUNC) amid a phenomenal short term rally. In just less than a week, LUNC has reached up to $0.00058 from a flat $0.0001. At the time of writing, LUNC is changing hands at $0.00050 per piece, according to CoinGecko. This translates to a whopping 24-hour and 7-day
Luna Classic Rallies Hard in Sep, What Is the Cause?
Terra Luna Classic (LUNC) has been pumping since the end of August. Recently, LUNC reached its ATH after its fateful rebranding on the Terra Classic blockchain. Binance will halt deposits and withdrawals via Shuttle Bridge starting September 7. Despite what appears to be a depressing crypto market today, Luna Classic (LUNC) faithfuls still have one more reason to be hopeful. Specifically, LUNC price has been pumping hard since the end of August. In fact, since LUNC started trading — after the rebranding — on major cryptocurrency exchanges such as Binance, the price has since exceeded its all-time high (ATH). As
Terra’s CEO Do Kwon Now Accepts Interview Since Terra Luna’s Collapse
Do Kwon accepted to be interviewed in Singapore by crypto media Coinage. This is the first time Kwon accepted an interview since Terra’s crash. “I alone am responsible,” Kwon pointed out in the interview. Terraform Labs CEO and founder Do Kwon was seen in an interview three months after Luna and UST’s unforgettable crash, where many people lost their life savings and trust in crypto’s stablecoins. In an interview with Zack Guzman on the NFTV series Coinage broadcasted on Monday, Kwon said “I’ve never thought about what could happen to me if this fails.” Terra’s CEO refers to Luna’s price
3AC Co-Founders: UST, Luna, and GBTC Trades Caused Fund Disputes
Founders of 3AC confirmed that Terra and GBTC trades destroyed the firm’s crypto fund. Co-founder Su Zhu admitted that 3AC failed to realize that Luna could fall to zero. The firm continued to borrow until their debt piled up to $3.5B, as per court filing. Three Arrow Capital (3AC) co-founders, Kyle Davies and Su Zhu, told Bloomberg that trades containing Grayscale Bitcoin Trust (GBTC), Terra’s luna (LUNA) and terraUSD (UST) tokens has caused to the disputes of the troubled crypto fund of the company. The SIngapore-based crypto hedge fund founders confirmed that the company lost almost $200 million due to
South Korean Prosecutors Raid Exchanges Amid Luna Probe
Prosecutors on Monday raided the homes and offices of four cryptocurrency exchanges. A total of 15 places, including cryptocurrency exchanges and related offices, were searched. The two men, Do Kwon and Daniel Shin have denied any wrong doing. South Korean authorities carried out search and seizure operations at local cryptocurrency exchanges, as well as offices that are affiliated with the collapse of cryptocurrency Luna in May, seeking proof of illegal activity. The prosecutors on Monday raided the homes and offices of four cryptocurrency exchanges as part of an investigation into alleged fraud by the co-founders of blockchain platform Terraform labs.
Will $LUNC Hit $1 Soon? Some Are Convinced and Here’s Why
A crypto promoter tweets about the inevitable rise of $LUNC. The promoter says Terra Luna Classic (LUNC) will write history. The Terra Luna community adds to the conversation with varied responses. A crypto and NFT promoter took to Twitter to announce the inevitable rise of $LUNC. That is, Terra Classic Luna (LUNC). It seems many loyal Terra Luna believers and holders are still expecting $LUNC to recover soon. For the tweet above, we can see that the crypto and NFT promoter — Hailey, claims that $LUNC will go back up to $1. In fact, she says it is inevitable and
Terra LUNA/UST Core Designers Grounded by South Korean Authorities
Terra’s main designers face a departure ban from South Korea. The Republic of Korea is taking its LUNA and UST investigation very seriously. South Korea pushed its 20% Bitcoin (BTC) tax to 2025. Reports say that South Korean authorities are putting a ban on LUNA/UST employees and developers from leaving the country. In detail, it seems that Terra’s main designers cannot leave South Korea. As we can see from Blockworks’ tweet above, the news came from a JTBC article. In fact, the article goes on to explain the situation with Terra and the South Korean authorities. It is no secret
LUNA Crashes as Do Kwon Cashed Out $80M in April
Reports said that Terraform Labs staff confessed to the SEC that Do Kwon cashed out $80 million in April. FatManTerra said it was not necessary Do Kwon who cashed out. LUNA 2.0 is in another free fall. The second iteration of LUNA appears to be in another free fall, as reports surfaced saying Do Kwon cashed out $80 million one month before the Terra 1.0 collapse in May. According to various sources, some Terraform Labs employees have confided to the US Securities and Exchange Commission (SEC). In detail, the employees said that Do Kwon took out over $80 million from
LUNA 2.0 Nearing All-Time Low—Bounce or Demise?
LUNA 2.0 is nearing its all-time low price and is currently trading at $4.08. Some LUNA hypers are beginning to lose hope. Meanwhile, India might charge a 30% tax to citizens who received LUNA airdrop. Terra’s new iteration of LUNA has been anticlimactic at best, as the current price is nearing its all-time low (ATL) price of $4.08. At the time of writing, LUNA 2.0 is changing hands at $4.93, as per CoinGecko. At the moment, LUNA is showing barely any signs of promise despite a huge portion of the airdrop being locked until further notice. As such, some people
