Terra


Opinion

Do Kwon Is the Elizabeth Holmes of Crypto

If you promise investors something impossible, is it a crime?

LUNA fell to as low as $7.62 during Asian trading hours. (TradingView)

Finance

Crypto Fund Arca Doubled Down on UST Amid Stablecoin’s Collapse

“UST will ultimately maintain its peg,” the hedge fund told partners Tuesday in a note obtained by CoinDesk.

Rayne Steinberg at Invest: NYC 2019 via CoinDesk archives

Policy

UST Meltdown Hasn't Spurred US Financial Stability Council Meeting: Sources

U.S. federal officials aren’t getting together to follow the game plan that’s typical when mainstream financial firms flounder.

The U.S. Department of the Treasury hasn't yet held any cross-agency meetings to discuss the fallout of UST's struggles. (Jesse Hamilton/CoinDesk)

Markets

Crisis in Terra's UST Stablecoin Spreads to Neutrino USD on Waves Protocol

Algorithmic stablecoins are under pressure after Terra's UST lost its $1 peg.

Stablecoin USDN loses its dollar peg. (TradingView)

Tech

UST’s Do Kwon Was Behind Earlier Failed Stablecoin, Ex-Terra Colleagues Say

Basis Cash, an algorithmic stablecoin project founded by the anonymous “Rick” and “Morty” in 2020, was actually the work of Terraform Labs employees.

Do Kwon (Terraforms Labs, modified by CoinDesk)

Finance

Terra Founder Do Kwon Supports Community's UST Proposal, LUNA Slides

The proposal seeks to bring UST back to its intended $1 peg.

TerraForm Labs founder and CEO Do Kwon (CoinDesk TV, modified by CoinDesk)

Markets

Anchor Community Submits Proposal to Restore UST Peg

Algorithmic stablecoin TerraUSD has fallen sharply from its $1 peg over the past 48 hours.

(Javardh/Unsplash)

Markets

UST Falls to 35 Cents, Terra Futures See $106M in Liquidations

Some 58% of LUNA traders were betting on higher prices even as the tokens fell yesterday.

Inflation will be in focus this week. (Jeffrey Coolidge/Getty Images)

Markets

Bitcoin Flirts With $30K During Asia Trading Day as Luna Foundation Guard Fights to Defend UST Peg

Glassnode analyst says change in exchange balance is due to LFG using bitcoin reserves to defend stablecoin peg.

CoinDesk News Image

Markets

Terra’s LUNA Drops to Almost $1 After 90% Weekly Plunge

Value locked on Anchor, Terra’s largest DeFi protocol, dropped some $11 billion in the past two days.

LUNA token concept (Getty)