Terra

Police Report Filed Against Do Kwon Amid LUNA Crisis
Police Report Filed Against Do Kwon Amid LUNA Crisis

A Reddit user disclosed that a police report has been filed on behalf of 1,000 Singaporeans against Terra’s Do Kwon. Kwon expressed being in pain that his invention has caused. Reactions from Reddit users stated that nothing is going to happen with the police report. A concerned citizen from Singapore filed a police report with the authorities against Terraform Labs CEO Do Kwon. According to a user from social media platform reddit, the police report against Kwon was filed on behalf of LUNA and UST investors who have lost money during the de-pegging and LUNA price inflation period. The anonymous

2 mins read
Terra’s Do Kwon Announces UST Recovery Plan
Terra’s Do Kwon Announces UST Recovery Plan

Terra’s stablecoin UST and LUNA have dropped as low as $0.19 and $0.002, respectively. CEO of Terraform Labs Do Kwon said increasing the supply of LUNA in the market would help re-peg UST. Kwon also plans to adjust its collateralization mechanism. Terraform Labs’s founder and CEO Do Kwon revealed the company’s recovery plan for UST and LUNA amid this week’s crypto crash. He pointed out that the company didn’t mean to become so quiet and asked ‘lunatics’ to stay strong. In Kwon’s Twitter thread post addressed to the Terra Community, he said: “I understand the last 72 hours have been

2 mins read
Gemini: Terra Conspiracy Peddled by Hoskinson Untrue
Gemini: Terra Conspiracy Peddled by Hoskinson Untrue

Gemini dispelled rumors that it has loaned 100,000 bitcoins to Blackrock and Citadel. Charles Hoskinson deleted his tweet that made hair-raising allegations against Terra Labs. Terra (LUNA) price has crashed by 94.4% in the last 24 hours. Cryptocurrency exchange Gemini made its position clear amid allegations circulating that it was part of a scheme made by high-profile investment companies to exploit Terra (LUNA) and TerraUSD (UST). Gemini’s statement came after wild conspiracies floated across the crypto space. In fact, Cardano godfather Charles Hoskinson shared the allegations on his Twitter account. However, after Gemini made the above statement, Hoskinson has since

2 mins read
Terra Adds Another $1.5B in Bitcoin Reserves
Terra Adds Another $1.5B in Bitcoin Reserves

Luna Foundation Guard added another 37,863 ($1.5 billion) Bitcoin purchase to its reserves. The foundation now has a total of 80,394 Bitcoin reserves. “You’re starting to see a pegged currency that is attempting to observe the bitcoin standard,” said Terra co-founder Do Kwon. Luna Foundation Guard (LFG) has acquired its largest Bitcoin purchase of 37,863 coins, a whopping $1.5 billion at the time of purchase. The recent move by the LFG has doubled their previous reserves, from 42,530.82 up to 80,394 Bitcoin reserves. According to the tweet, the group assisted the purchase by exchanging $1 billion in UST stablecoin for

2 mins read
Terra Stocks $1.7B Worth of BTC To Hit $10B Goal
Terra Stocks $1.7B Worth of BTC To Hit $10B Goal

Terra buys another $176 million in Bitcoin, 4 days after its 5,040 BTC purchase on April 6. LFG now carries a total of 39,897.98 BTC ($1.7 billion) Bitcoin. TerraUSD stablecoin will be backed by both their native LUNA token and Bitcoin. A Singapore-based Luna Foundation Guard (LFG), committed to promoting Terra blockchain, bought another $176 million worth of Bitcoin last Sunday, following its recent purchase of $200 million worth of BTC on April 6. The recent purchase showed an additional 4,130 BTC added to its wallet on April 10. This happened four days after its 5,040 BTC purchase on April

2 mins read
This Altcoin Is the Biggest Gainer in the Last 7 Days
This Altcoin Is the Biggest Gainer in the Last 7 Days

Terra (LUNA) is the biggest gainer in the last 7 days. Crypto exchange FTX announced LUNA spot market listing. In other news, crypto exchanges said they will not freeze Russian accounts. Despite the huge market FUD brought by Russia’s aggression toward Ukraine, Terra (LUNA) has been making a convincing rally ahead of all cryptocurrencies, including Bitcoin. In fact, LUNA price has made a jaw-dropping surge of 77% in the last 7 days. As seen above, LUNA price has totally reversed its dump and is now trading above the 50-day and 200-day Simple Moving Averages (SMAs). It reached as high as

2 mins read
Terra (LUNA) Flips Binance Smart Chain for DeFi TVL
Terra (LUNA) Flips Binance Smart Chain for DeFi TVL

Terra (LUNA) has flipped Binance Smart Chain in terms of TVL for DeFi. This makes Terra as the second-highest blockchain protocol for DeFi TVL after Ethereum. Terra is a blockchain ecosystem that focuses on deploying stablecoins for DeFi. Blockchain ecosystem Terra has now exceeded Binance Smart Chain (BSC) to become the second-largest blockchain for decentralized finance (DeFi) in terms of total value locked (TVL).  The news came as LUNA has seen a meteoric rise to become ninth highest cryptocurrency in terms of market capitalization. As per CoinGecko, LUNA price is at $92.58 at the time of writing. Also, this is

1 min read