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

“They killed LUNA.” Celsius CEO called the new victim of the “Sharks of Wall Street”

May 20, 2022

“They killed LUNA.” Celsius CEO called the new victim of the “Sharks of Wall Street”

Alex Mashinsky believes that short traders are responsible for the collapse of UST and USDT, as well as the CEL token

The development of the situation with Terra and the extreme fear in the crypto market. Key events of the week

May 20, 2022

The development of the situation with Terra and the extreme fear in the crypto market. Key events of the week

The most important industry news and a detailed analysis of digital assets in the weekly review of Getblock Magazine

Media: Hashed venture fund lost more than $3,5 billion in unrealized profits to Terra’s collapse

May 19, 2022

Media: Hashed venture fund lost more than $3,5 billion in unrealized profits to Terra’s collapse

The company was one of the first investors in the project in 2021

Galaxy Digital CEO called the reason for Terra’s collapse

May 19, 2022

Galaxy Digital CEO called the reason for Terra’s collapse

Mike Novogratz sees the incident as a consequence of the macroeconomic situation

​South Korean law firm to file lawsuit against Terraform Labs CEO

May 18, 2022

​South Korean law firm to file lawsuit against Terraform Labs CEO

LKB & Partners intends to prosecute Do Kwon over the collapse of the UST stablecoin rate

​Goldman Sachs called the condition for the success of algorithmic stablecoins

May 18, 2022

​Goldman Sachs called the condition for the success of algorithmic stablecoins

The bank’s analysts noted that if assets have no limitations on their use as a means of payment, it would create a stable base demand