IMF called unbacked stablecoins a pyramid scheme

May 24, 2022

IMF called unbacked stablecoins a pyramid scheme

The organization’s head Kristalina Georgieva made such a statement in the wake of the collapse of the Terra blockchain ecosystem

Terra representatives proposed creating new network instead of holding a hard fork

May 24, 2022

Terra representatives proposed creating new network instead of holding a hard fork

If the decision to create Terra 2.0 is approved, assets and applications will need to be migrated to the new blockchain

South Korean police suspected Terra of embezzling investors’ funds

May 24, 2022

South Korean police suspected Terra of embezzling investors’ funds

The law enforcers have asked the exchanges to freeze the corporate assets of the Luna Foundation Guard, an organization created to support the TerraUSD stablecoin

Circle started publishing weekly reports on USDC stablecoin reserves

May 23, 2022

Circle started publishing weekly reports on USDC stablecoin reserves

The initiative aims to increase investor confidence in stablecoin

Bank of America called the reason for Terra’s collapse

May 22, 2022

Bank of America called the reason for Terra’s collapse

According to the bank’s analysts, the project team was focused on adopting the UST stablecoin rather than maintaining its rate

Tether co-founder called the impact of Terra’s collapse on the crypto market insignificant

May 21, 2022

Tether co-founder called the impact of Terra’s collapse on the crypto market insignificant

In this, Brock Pierce warned investors against putting too much trust in other new projects

How the Terra ecosystem collapsed. Full timeline of events

May 20, 2022

How the Terra ecosystem collapsed. Full timeline of events

The editorial staff of GetBlock Magazine collected the most important news after the collapse of the LUNA token and UST stablecoin

SEC chief predicted the collapse of most digital assets’ rates by analogy with Terra

May 20, 2022

SEC chief predicted the collapse of most digital assets’ rates by analogy with Terra

According to Gary Gensler, crypto traders should be prepared for other coins to drop to almost zero

Terra CEO changed the plan to recover the system in a vote

May 20, 2022

Terra CEO changed the plan to recover the system in a vote

Some users pointed out that the adjustments should be accompanied by a new vote

UK to develop new crypto regulation rules following Terra collapse

May 20, 2022

UK to develop new crypto regulation rules following Terra collapse

The agency believes that the recent situation in the stablecoins market should be taken into account when drafting regulations for the digital assets market

Tether CTO called the UST stablecoin a poorly designed “castle of cards”

May 20, 2022

Tether CTO called the UST stablecoin a poorly designed “castle of cards”

Paolo Ardoino attributes another reason for the collapse of the project to the arrogance of the head of Terraform Labs, Do Kwon

G7 called to accelerate the implementation of the regulation of cryptocurrencies due to Terra’s collapse

May 20, 2022

G7 called to accelerate the implementation of the regulation of cryptocurrencies due to Terra’s collapse

G7 countries have appealed to the Financial Stability Board, which is drafting a bill