A broke investor tried to sneak into the home of Luna's creator
A crypto investor, who tried to illegally break into the apartment of Terraform Labs co-founder and CEO Do Kwon, was detained by Seoul police.
He told reporters:
"Thanks to Do Kwon and his schemes, I lost about $2.3 million."
The detainee also claims that there are people who committed suicide as a result of the fall in the price of stablecoin.
He calls on Kwon to apologize to the victims and compensate them for their losses.
A crypto investor, who tried to illegally break into the apartment of Terraform Labs co-founder and CEO Do Kwon, was detained by Seoul police.
He told reporters:
"Thanks to Do Kwon and his schemes, I lost about $2.3 million."
The detainee also claims that there are people who committed suicide as a result of the fall in the price of stablecoin.
He calls on Kwon to apologize to the victims and compensate them for their losses.
Changpeng Zhao revealed how much Binance lost on LUNA.
In 2018, Binance invested $3 million in Terra and received $15 million in LUNA. Nothing has been sold since then.
In the moment, the value of the original investment soared 560 times, reaching an estimate of about $1.6 billion (should have fixed X's, Changpeng😂)
Zhao noted that now, after the coin's collapse, those investments are "not worth much."
At the current Binance exchange rate, LUNA's 15,000,000 is valued at $2840. Against the original $3 million, mind you.
In 2018, Binance invested $3 million in Terra and received $15 million in LUNA. Nothing has been sold since then.
In the moment, the value of the original investment soared 560 times, reaching an estimate of about $1.6 billion (should have fixed X's, Changpeng😂)
Zhao noted that now, after the coin's collapse, those investments are "not worth much."
At the current Binance exchange rate, LUNA's 15,000,000 is valued at $2840. Against the original $3 million, mind you.
Voting for the launch of the Terra 2.0 blockchain has begun.
It's worth noting that users viewed the preliminary poll negatively, but now more than 89% of those who voted are in favor of the fork. Of course, thanks to the alternative is to shut down the project!
If the proposal is successful, there will be a final snapshot of the Terra Classic network in block 7790000 (May 27, 2022 at 03:59:51+08:00), and a new network will be created.
It's worth noting that users viewed the preliminary poll negatively, but now more than 89% of those who voted are in favor of the fork. Of course, thanks to the alternative is to shut down the project!
If the proposal is successful, there will be a final snapshot of the Terra Classic network in block 7790000 (May 27, 2022 at 03:59:51+08:00), and a new network will be created.
❗️Robinhood releases its own wallet
The Robinhood team announced the launch of a new wallet to allow customers to interact with NFT, DEX exchanges. The main feature will be an intuitive and simple interface.
"DeFi has the potential to be the operating system that will power the future of financial services, and we want to help people experience the full range of possibilities these revolutionary technologies have to offer," commented Robinhood's CEO.
The team plans to launch the product to all users by the end of the year!
The Robinhood team announced the launch of a new wallet to allow customers to interact with NFT, DEX exchanges. The main feature will be an intuitive and simple interface.
"DeFi has the potential to be the operating system that will power the future of financial services, and we want to help people experience the full range of possibilities these revolutionary technologies have to offer," commented Robinhood's CEO.
The team plans to launch the product to all users by the end of the year!
📊Comparing the growth rate of the number of Internet users and the number of Ethereum addresses shows that Ethereum is around the year of 1995
The accuracy of the logarithmic scale confirms the correlation of three parameters at once: the number of addresses with a balance greater than 0.01 ETH, the monthly and annual number of transactions
We're still at a very early stage...
Infographics by Andreessen Horowitz
The accuracy of the logarithmic scale confirms the correlation of three parameters at once: the number of addresses with a balance greater than 0.01 ETH, the monthly and annual number of transactions
We're still at a very early stage...
Infographics by Andreessen Horowitz
Case against UST
News on Terra: a criminal case is being filed against the creators of the UST stablecoin for organizing a financial pyramid scheme.
Terraform Labs, which paid 20% per annum in bucks on Anchor Protocol, is suspected of being a classic Ponzi scheme.
The investigation began after it emerged that the founders had decided to shut the firm down at a shareholders meeting back on April 30. A few days before the drop of the coin itself.
I'm not calling Terra a pyramid scheme. Let the courts sort it out.
But let's face it: on our fanatical belief in DeFi, of course, scammers can easily play on it, because 20% p.a. doesn't seem like something unimaginable in the crypto world.
News on Terra: a criminal case is being filed against the creators of the UST stablecoin for organizing a financial pyramid scheme.
Terraform Labs, which paid 20% per annum in bucks on Anchor Protocol, is suspected of being a classic Ponzi scheme.
The investigation began after it emerged that the founders had decided to shut the firm down at a shareholders meeting back on April 30. A few days before the drop of the coin itself.
I'm not calling Terra a pyramid scheme. Let the courts sort it out.
But let's face it: on our fanatical belief in DeFi, of course, scammers can easily play on it, because 20% p.a. doesn't seem like something unimaginable in the crypto world.
⚡️ SEC chief thinks cryptocurrency market faces LUNA's fate
The chairman of the SEC said that in the short term, the cryptocurrency market repeats the fate of Terra Luna and inflicts irreparable damage to investors and financial markets.
Well, that's pretty optimistic considering the S&P500 index is down 18.2% in the first 96 trading days of 2022.
That's the clearest example of a poor understanding of how the cryptocurrency market works. Sure, we may see a big drop, but to think that the whole industry will turn to ash is crazy!
The chairman of the SEC said that in the short term, the cryptocurrency market repeats the fate of Terra Luna and inflicts irreparable damage to investors and financial markets.
Well, that's pretty optimistic considering the S&P500 index is down 18.2% in the first 96 trading days of 2022.
That's the clearest example of a poor understanding of how the cryptocurrency market works. Sure, we may see a big drop, but to think that the whole industry will turn to ash is crazy!
Singapore Court Bans Sale of BAYC #2162
According to law firm Withers KhattarWong, Singapore's high court has issued an injunction prohibiting the sale of the token as part of the loan agreement proceedings.
💬"Global law firm Withers KhattarWong has successfully obtained a worldwide proprietary injunction on behalf of a Singaporean NFT investor to freeze the sale and ownership transfer of a rare Bored Ape Yacht Club (BAYC) NFT, or non-fungible token, on the Ethereum blockchain against a Metaverse personality," it said in a statement.
Such litigation is no longer uncommon😅
According to law firm Withers KhattarWong, Singapore's high court has issued an injunction prohibiting the sale of the token as part of the loan agreement proceedings.
💬"Global law firm Withers KhattarWong has successfully obtained a worldwide proprietary injunction on behalf of a Singaporean NFT investor to freeze the sale and ownership transfer of a rare Bored Ape Yacht Club (BAYC) NFT, or non-fungible token, on the Ethereum blockchain against a Metaverse personality," it said in a statement.
Such litigation is no longer uncommon😅
The South Korean prosecutor's office is checking the Terra project for signs of a pyramid scheme
Law enforcement officials are investigating whether they can bring a criminal case against Anchor Protocol, which offered TerraUSD holders 20% per annum.
The information about the investigation comes a day after lawyers announced plans to sue Terra CEO Do Kwon. The South Korean law firm LKB & Partners plans to have the head of the project's assets seized.
Law enforcement officials are investigating whether they can bring a criminal case against Anchor Protocol, which offered TerraUSD holders 20% per annum.
The information about the investigation comes a day after lawyers announced plans to sue Terra CEO Do Kwon. The South Korean law firm LKB & Partners plans to have the head of the project's assets seized.
👀 Experts found evidence of insider trading on major cryptocurrency exchanges, including Binance, FTX, and Coinbase.
Representatives of some trading venues said that they take steps to hide information about preparations for listing, and insiders get information directly from the blockchain by monitoring the actions of coders.
Representatives of some trading venues said that they take steps to hide information about preparations for listing, and insiders get information directly from the blockchain by monitoring the actions of coders.
NFT and DeFi markets remained stable amid current volatility
Marketplaces like Trader Joe's, GoodDollar, and ecosystems like Axie Infinity suffered the most from volatility. In the case of Trader Joe's, the token exchange recorded a 5% drop in its user base. Axie Infinity SLP and AXS tokens fell 38% and 19% in price, respectively, amid volatility.
At the same time, BNB Chain-based exchanger PancakeSwap managed to increase its user base by 13%. Meanwhile, the platform's native CAKE token also lost more than 16% in value.
Marketplaces like Trader Joe's, GoodDollar, and ecosystems like Axie Infinity suffered the most from volatility. In the case of Trader Joe's, the token exchange recorded a 5% drop in its user base. Axie Infinity SLP and AXS tokens fell 38% and 19% in price, respectively, amid volatility.
At the same time, BNB Chain-based exchanger PancakeSwap managed to increase its user base by 13%. Meanwhile, the platform's native CAKE token also lost more than 16% in value.
🤡 CoinMarketCap reports that ECB head Christine Lagarde, who considers bitcoin "useless," admitted on Dutch TV that her son is nevertheless investing against her advice as he is a "free man"
⚡️Binance is updating its wallet infrastructure and removing current deposit addresses and MEMOs on the Cosmos Network (ATOM)
Users likely to be affected will receive an email informing them that they need to obtain a new deposit address and MEMO
Users likely to be affected will receive an email informing them that they need to obtain a new deposit address and MEMO
Bank of England governor compares cryptocurrencies to collectibles
The CEO of the Bank of England, Andrew Bailey, believes that cryptocurrencies, unlike the state digital currency, blockchain and crypto have no value.
Bank of England CEO Andrew Bailey, during an interview, compared investors in cryptocurrencies to collectors. He stated that "people collect all sorts of things."
Bailey agreed that "basic cryptocurrency technology" such as blockchain and crypto is necessary. He added that the bank is going to build on them to develop a public digital UK.
The CEO of the Bank of England, Andrew Bailey, believes that cryptocurrencies, unlike the state digital currency, blockchain and crypto have no value.
Bank of England CEO Andrew Bailey, during an interview, compared investors in cryptocurrencies to collectors. He stated that "people collect all sorts of things."
Bailey agreed that "basic cryptocurrency technology" such as blockchain and crypto is necessary. He added that the bank is going to build on them to develop a public digital UK.
⚡️ The new Terra 2 network is to be launched on May 27
The day after tomorrow, the Terra team will run the second network and accrue new coins to holders, counted according to the following formula:
- LUNA bought before the Terra ecosystem attack (pre-attack) - 1:1.1
- UST bought before the attack - 1:0.033
- Bought LUNA after Terra ecosystem attack (post-attack) - 1:0.000015
- Bought USTs after the attack - 1:0.013
The balance snapshot for pre-attack has already been taken on May 7, for post-attack the snapshot will be on May 27. Users will receive about 30% airdrop on May 27, and the rest will accrue over two years.
Currently, it is not known which platforms will support airdrop, so better to withdraw coins to a native wallet, such as Terra Station.
The day after tomorrow, the Terra team will run the second network and accrue new coins to holders, counted according to the following formula:
- LUNA bought before the Terra ecosystem attack (pre-attack) - 1:1.1
- UST bought before the attack - 1:0.033
- Bought LUNA after Terra ecosystem attack (post-attack) - 1:0.000015
- Bought USTs after the attack - 1:0.013
The balance snapshot for pre-attack has already been taken on May 7, for post-attack the snapshot will be on May 27. Users will receive about 30% airdrop on May 27, and the rest will accrue over two years.
Currently, it is not known which platforms will support airdrop, so better to withdraw coins to a native wallet, such as Terra Station.