Market updates News

5 High-Profile Cryptocurrency Implosions Shatter Trust, Wipe out Billions in Value During 2022’s Crypto Winter

Coins Legend February 26, 2023 0

2022 was a year of phenomenal cryptocurrency blowouts, as several projects collapsed and many more are on life support after the entire ecosystem was shattered. The fallout from these digital currency projects has not only removed billions of dollars in value from the crypto economy, but also

Market updates

Terra’s Crypto Tokens UST and Luna Classic Mysteriously Pumped This Week, UST Climbed by 470%

Coins Legend July 1, 2022 0

After the downfall of the two most popular crypto assets on the Terra blockchain, the digital currencies terrausd (UST) and luna classic (LUNC) increased a great deal in value against the U.S. dollar in recent times. During the last seven days, LUNC has risen 96.3% and the once-stable coin UST has increased 472.4% this week. […]

News

Do Kwon Interview Explains He’s ‘Devastated’ by LUNA Collapse, Says ‘There’s a Difference Between Failing and Fraud’

Coins Legend June 23, 2022 0

During a recent interview with the Wall Street Journal (WSJ), Terraform Labs (TFL) founder Do Kwon said he was “devastated” by the LUNA and UST implosion that took place in mid-May. He told the WSJ that he was probably a billionaire when LUNA tapped an all-time high before the collapse, but lost a great portion […]

Regulation

South Korean Government Calls for Voluntary Regulations From Crypto Industry

Coins Legend June 15, 2022 0

The executive power and the ruling party in South Korea have urged the cryptocurrency industry for what officials describe as voluntary regulatory measures, a Korean media report revealed. The call was issued during a consultative meeting devoted to crypto assets. Government Asks South Korean Crypto Sector for Regulatory Proposals Representatives of the South Korean

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Do Kwon Accused of Cashing out $2.7B Before UST Collapse, Terra Founder Says Allegations Are False

Coins Legend June 13, 2022 0

Terra’s new LUNA 2.0 token has lost 54% in value in the last two weeks, after reaching $11.33 per unit on May 30. Meanwhile, the whistleblower Fatman has accused Terra’s co-founder Do Kwon of cashing out $2.7 billion a few months before the UST de-pegging incident. Kwon, however, has been keeping tabs on Fatman’s accusations […]

News

Bank of America CEO: Regulation Won’t Let Us Engage in Crypto; Kiyosaki Talks Depression, Civil Unrest, and More — Bitcoin.com News Week in Review

Coins Legend June 5, 2022 0

The new LUNA records gains amidst controversy, “Big Short” investor Michael Burry and author Robert Kiyosaki weigh in on recession, depression, and looming civil unrest. To top it all off, Bank of America’s CEO said “we have hundreds of patents on blockchain” but that regulations are blocking the institution from engaging in crypto. This is […]

News

Singapore’s Deputy Prime Minister Advises Retail Investors to Steer Clear of Cryptocurrencies

Coins Legend June 1, 2022 0

Singapore’s deputy prime minister has advised retail investors to steer clear of cryptocurrencies, citing that they are “highly risky.” He stressed, “We cannot express this enough.” Singapore’s Deputy Prime Minister Warns About Crypto Singapore’s Deputy Prime Minister Heng Swee Keat reportedly warned retail investors against investing in cryptocurrency Tuesday while

News

Terra Development Team Reveals Some Users ‘Received Less LUNA From the Airdrop Than Expected’

Coins Legend May 31, 2022 0

The new Terra blockchain Phoenix-1 has been operating since Saturday morning May 28, 2022, and on that day, millions of new LUNA tokens were dispersed to luna classic (LUNC) and terrausd classic (USTC) holders. However, on Tuesday the Terra development team revealed that some Terra token owners “received less LUNA from the airdrop than expected,” […]

News

Crypto’s Barren Wasteland: A Look at What’s Left of Terra’s Defi and Token Ruins

Coins Legend May 21, 2022 0

Following the Terra blockchain fallout and the great UST de-pegging event, the Terra network ecosystem is now a wasteland of almost worthless tokens and protocols. While both UST and LUNA were top ten crypto market cap contenders, Terra’s decentralized finance (defi) presence was second to Ethereum in terms of total value locked. Today, the remaining […]

Regulation

SEC Chair Gensler Warns a Lot of Crypto Tokens Will Fail Following LUNA, UST Collapse

Coins Legend May 20, 2022 0

The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has warned that a lot of crypto tokens will fail and many crypto investors will get hurt following the collapse of terra (LUNA) and stablecoin terrausd (UST). SEC Chair Gensler’s Warning After LUNA and UST Collapse U.S. Securities and Exchange Commission Chairman Gary […]