Terra

In a recent interview with crypto journalist Laura Shin of the Unchained podcast, Terra founder Do Kwon opened up about the platform’s resounding crash. The TFL CEO took full responsibility for the collapse, apologizing for his earlier "arrogance". He also addressed the fraud allegations he is currently facing.  Fraud Allegations are Invalid, Says Do Kwon The interview lasted over 1 hour and saw Shin ask numerous questions relating to the collapse. Shin's interview bordered on the scam accusations leveled against…

In a Monday update, leading exchange Binance revealed that it had burned $1.8M worth of  Terra Classic token trading fees.  The move came as a response to a community proposal from September and aimed at shedding some of the token supply.  Binance Completes the First Burn CEO Changpeng Zhao informed users that the company had completed the first LUNC burn via a post on Twitter. The exchange had sent about 5.5 million LUNC tokens worth 1,863,213.47 Tether (USDT) to the…

In recent times, news of the Terra ecosystem’s resounding crash seems to have faded out of the limelight. However, South Korean prosecutors are set to reopen the case as they look into whether Terra’s native assets are securities.  South Korea Prosecutors Review Terra Assets On Tuesday, local publication Korean Herald shared a release highlighting the plans of Seoul’s Southern District Prosecutors Office. The report noted that the Office’s Financial and Securities Crime Joint Investigation Team has been in touch with…

New York Attorney General Letitia James is pushing for investors to blow the whistle on crypto companies they consider deceiving or misconducting. The AG's intervention comes after a series of debacles that led to people losing their crypto investments. Projects like Terra, Celsius, Voyager, Anchor, and Stablegains have crashed, affecting millions of investors in the process. James believes people have the power to prevent such losses by signaling suspicious activities in crypto projects they support. In a recent tweet, she…

South Korean prosecutors raided local crypto exchanges on Wednesday, July 20, as part of the investigation on Terraform Labs. Yonhap reported, citing a message from the prosecution office. The raid saw a team of investigators from the Seoul Southern District Prosecutors seize transaction records and other data from seven exchanges. Upbit, Bithumb, Gopax, Korbit, and Coinone are among the raided exchanges. Also, the bust saw the investigators visit eight other residential and office addresses. These include the homes and offices…

Singapore's leading fiscal authority, MAS has denied licensing a handful of recently collapsed crypto firms often linked to the nation. MAS Clears Regulatory Misconceptions TerraForm Labs, Luna Foundation Guard, Vauld, and Three Arrows Capital are among the platforms in question here. Of late, these firms have all experienced significant turbulence due to the ongoing market volatility as well as other issues. Another thing they have in common is ties to the Southeast Asian country Singapore, as the media often touts…

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…

Anonymous – the infamous global hacking collective – recently posted a video message targeted at Terra ecosystem co-founder Do Kwon. The group promised to work with worldwide governments in exposing the founders’ entire criminal history since entering the industry. Terra’s Meltdown In Sunday’s message, Anonymous began by acknowledging the poor present state of the crypto market, and the broader economy. “We were likely going to experience some pain in the crypto industry because of the macro environment, regardless of what…

South Korean prosecutors have prohibited current and former Terraform Labs employees from leaving the country. Bloomberg reported earlier today, citing an official with the prosecutor’s office in Seoul. The travel restrictions seek to ensure the employees are readily available for questioning. The official, however, failed to disclose the number of Terraform employees that have received travel restrictions. Additionally, the source did not share details about the status of the investigation, which started last month. The probe seeks to determine whether…