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Tag Archives: TerraUSD

South Korean Crypto Traders Emerge as Major Force in Recent BTC Rally

South Korea has long been recognized for its robust blockchain and crypto community. Crypto traders in South Korea have recently emerged as key players, wielding considerable influence during the latest Bitcoin (BTC) rally that has seen the digital currency surge by more than 50%, according to reports. The Rise of the South Korean Won Over the Dollar Recent data compiled by CCData shows that the South Korean won surpassed the US dollar to become the largest fiat trading pair in the crypto...

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Court Rejects Appeal to Dismiss Class Action Suit against Terraform Labs and Do Kwon

The class action was one of the many lawsuits brought against the company last year after the Terra-LUNA fiasco that wiped out billions of dollars as investors watched their funds vanish into thin air within a matter of days.  A federal court in Singapore has denied an appeal to dismiss a class action suit filed against Terraform Labs, the brains behind the former Terra blockchain, and its disgraced co-founder Do Kwon on November 30. According to a Business Insider report, the duo filed a...

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Terra Classic Engineers Working on Major Revival Plan with ‘Six Samurai’ Proposal

The ‘Six Samurai’ proposal presents roadmap to important components such as the migration from Columbus-5 to Columbus-6 and an upgrade to the Cosmos SDK. Six engineers working on the Terra Classic ecosystem have proposed a ‘Six Samurai’ plan for the complete revival of the blockchain ecosystem. This development comes as some community members of Terra have been looking to break away entirely from the shadows of disgraced founder Do Kwon and bring new life to the LUNC ecosystem. Terra...

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South Korean Prosecutors Reveals Do Kwon Sent Funds to Local Law Firm before TerraUSD’s Fall

After Kwon was arrested, the prosecutors indicated that he had paid the law firm before the collapse. As the legal battle between Do Kwon and South Korean prosecutors continues, the prosecutors stated that the CEO of Terraform Labs Do Kwon transferred some money to a law firm before TerraUSD and Luna crumbled. There are reports about the crypto entrepreneur sending 9 billion won ($7 million) to local law firm Kim & Chang just before the demise of the tokens he created. Do Kown is the...

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Will it be possible to pay in the UK with stablecoins?

London by Night Foto CC0 Public Domain via Unsplash In the United Kingdom, a bill is ready that aims to regulate stablecoins as a means of payment. The aim is to match emerging technology with existing financial services rules. Regulating stablecoins The UK Treasury has said that it wants to regulate certain types of stablecoins. The bill – which seeks to make stablecoins a means of payment – aims to phase out the current legislation. The...

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